All Posts
Brace Underwriting Limited, a multi-line alternative risk underwriter backed by Beat Capital, has appointed Richard Wheeler as Senior Underwriter, effective immediately. Based in London, Wheeler will report to Tom Sambrook, Head of Underwriting. W...
Posted: Nov 06, 2024
FWD Group Holdings Limited (FWD Group), a global insurance company, reported strong year-on-year growth in the value of new business (VNB), reaching $623 million for the nine months ended September 30, 2024, a 16% increase compared to the same per...
Posted: Nov 06, 2024
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Vincenza Viele as Head of Claims, and Alessandro Majerna as Head of PI and Cyber for Executive & Professional Lines, in Italy. With over 24 years of loss adjusting...
Posted: Nov 06, 2024
H.W. Kaufman Group, headquartered in Farmington Hills, Michigan, promoted 11 members of its North American team to new roles. The promotions include: Rich Gobler, promoted to executive vice president, Burns & Wilcox; from senior vice president. M...
Posted: Nov 06, 2024
All major commercial lines premium renewal rates were lower in October than in August, according to the latest monthly Ivans Index. Premium renewal rate change by line of business for October 2024 highlights include: Commercial Auto: 9.62%, down slig...
Posted: Nov 06, 2024
American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead continue to be absorbed by primary insurance companies,...
Posted: Nov 06, 2024
Novatae Risk Group, a managing general agency, program manager and wholesale brokerage, said it has launched its new miscellaneous professional liability program with a focus on fast quoting for brokers and exceptional claim service for insureds. Wit...
Posted: Nov 06, 2024
The FBI on Tuesday warned Americans about two new fake videos falsely citing terror threats and voter fraud, the latest in a string of disinformation that officials expect will intensify as voters head to the polls on Election Day and …
Posted: Nov 06, 2024
Democrat Patricia Kuderer was leading Republican Phil Fortunato in the bid to replace the nation’s longest serving insurance commissioner with 57% of the votes and 52% of the state’s ballots counted so far. Current Washington Commissioner...
Posted: Nov 06, 2024
Democrat Patricia Kuderer defeated Republican Phil Fortunato in the bid to replace the nation’s longest serving insurance commissioner with 57% of the votes. Numerous news outlets declared Kuderer the winner with more than 52% of the state̵...
Posted: Nov 06, 2024
Republican James Brown was well ahead of Democrat John Repke in the race for the office of Montana Commissioner of Securities and Insurance, State Auditor. Brown had 67% of the vote with 196 precincts reporting in. Commissioner Troy Downing, who R...
Posted: Nov 06, 2024
Republican James Brown was well ahead of Democrat John Repke in the race for the office of Montana Commissioner of Securities and Insurance, State Auditor. Brown had 62% of the vote with 454 out of 727 precincts reporting in. Commissioner …
Posted: Nov 06, 2024
New York Governor Kathy Hochul announced on Monday that up to $20 million is available for eligible homeowners in flood-prone areas to make proactive flood mitigation and energy-efficiency improvements to their homes. The money is the latest round of...
Posted: Nov 06, 2024
Hawaiian Electric Industries formalized a $2 billion agreement to settle damage claims from a wildfire that razed the historic town of Lahaina and killed more than 100 people. The utility-owner had reached a tentative agreement in August in which it,...
Posted: Nov 06, 2024
The Hilb Group announced last week that it has successfully secured an approximately $2 billion round of financing to refinance its existing debt and expand its revolving credit and delayed draw term facilities. The financing will support Hilb’...
Posted: Nov 06, 2024
On Monday, Massachusetts Governor Maura Healey joined Massachusetts fire service leaders in asking residents to refrain from outdoor activity that could cause or contribute to the state’s recent rash of brush and wildland fires. “As we co...
Posted: Nov 06, 2024
On Monday, Massachusetts Governor Maura Healey joined Massachusetts fire service leaders in asking residents to refrain from outdoor activity that could cause or contribute to the state’s recent rash of brush and wildland fires. “As we co...
Posted: Nov 06, 2024
Bowhead Specialty, a provider of casualty and professional liability products, has announced its financial results for the third quarter of 2024, reporting a net income of $12.1 million and a 32.3% increase in gross written premiums (GWP). The fir...
Posted: Nov 06, 2024
Arthur J. Gallagher & Co. acquired Altadena, California-based American Matar International Inc., dba Statewide Commercial Insurance Brokers. Lana Matar and her team will remain in their current location under the direction of Scott Firestone, hea...
Posted: Nov 06, 2024
Posted: Nov 05, 2024
2024 Hurricane Season Racked Up 347,000 Flood-Damaged Cars So Far...
Posted: Nov 05, 2024
More Than Half of All Employees in Finance, Insurance Work Remotely: Triple-I Data as of Sept...
Posted: Nov 05, 2024
The U.S. Has Sustained 24 Billion Dollar Disasters in 2024 Since 1980, there have bee...
Posted: Nov 05, 2024
Arthur J. Gallagher & Co. announced the acquisition of Fenton, Michigan-based Peabody Insurance Agency, Inc. (Peabody Insurance). Terms of the transaction were not disclosed. Peabody Insurance is a retail insurance agency serving commercial and p...
Posted: Nov 05, 2024
The reinsurance industry soared to new heights in 2023, fueled by investment income, underwriting profits and unrealized capital gains, a new AM Best stated. The post
Posted: Nov 05, 2024
Technology advancements are enabling insureds and their risk management partners to get a better grip on the range of settlement amounts on some types of claims. The post
Posted: Nov 05, 2024
A security fence rings a Las Vegas building where a Nevada county tabulates votes. An Arizona sheriff has his department on high alert to guard against potential violence with drones and snipers on standby. The National Guard has been or …
Posted: Nov 05, 2024
The Baldwin Group has announced that total revenue has grown 11% in the third quarter of 2024, to $338.9 million from the $306.2 million reported in the same period last year. At the same time, the company also posted organic revenue growth of 14%...
Posted: Nov 05, 2024
Insurance Business Magazine - US
Posted: Nov 05, 2024
Insurance Business Magazine - US
Posted: Nov 05, 2024
For insurers to remain competitive and responsive to market demands, they must move beyond legacy systems and leverage new and emerging technologies, yet many still rely on outdated systems, with nearly half of insurers (49%) acknowledging they ar...
Posted: Nov 05, 2024
The importance of having a sound strategy in place—and what that entails By Lori Widmer When the insurance industry exited 2023, the consensus was that, in terms of mergers and acquisitions, the year had ended on a rather sluggish note. According to...
Posted: Nov 05, 2024
Providing customers with the right tools, resources and experiences can amplify an independent agent’s value By Lori Widmer It seems that for years there have been those forecasting the demise of independent agents and brokers. The growth of direct w...
Posted: Nov 05, 2024
This year, insured catastrophe losses have already exceeded $100 billion and are expected to easily breach the $120 billion mark, but with reinsurers poised to generate underwriting profits on their global catastrophe portfolios in 2024 after the...
Posted: Nov 05, 2024
Posted: Nov 05, 2024
Las Vegas Bottled Water Company Hit With $5.2B Verdict in Liver Damage Lawsuit A jury in Nevada has delivere...
Posted: Nov 05, 2024