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Clear Group, the UK independent insurance broker that is owned by Private Equity at Goldman Sachs Alternatives, has entered the wholesale Lloyd’s broker space with the acquisition of Lilley Plummer Risks Ltd., a London-based marine and property...
Posted: Oct 29, 2024
Gallagher Re report details how analysis of external scanning data can help insurers better predict claims and differentiate among cyber risks. The post
Posted: Oct 29, 2024
Brown & Brown, the insurance brokerage, in its unaudited results for Q3 2024 has reported net income of $234 million, an increase of $58 million, or 33% from the previous year’s $176 million. Simultaneously, revenues for Q3 2024 under U.S. gen...
Posted: Oct 29, 2024
The Hartford and cyber-MGA Coalition announced a strategic, long-term capacity partnership in response to growing customer and broker demand for Coalition’s active cyber insurance approach in the UK market. The new capacity agreement combines t...
Posted: Oct 29, 2024
Universal Insurance Holdings expects to see a gross loss of up to $900 million related to the three devastating hurricanes that have recently impacted the United States, the insurer has stated. Chief Executive Officer Stephen J. Donaghy, said: “As...
Posted: Oct 29, 2024
The third quarter of 2024 saw a number of significant disaster events, which drove year-to date economic losses above at least $258 billion and insured losses of $102 billion, according to Aon plc in its Q3 Global Catastrophe Recap – …
Posted: Oct 29, 2024
Nearly 1,000 hurricane-impacted households in North Carolina and Florida will benefit this week from a new disaster aid program that employs a model not commonly used by philanthropy in the United States: Giving people rapid, direct cash payments. Th...
Posted: Oct 29, 2024
In the final moments before he took his own life, 14-year-old Sewell Setzer III took out his phone and messaged the chatbot that had become his closest friend. For months, Sewell had become increasingly isolated from his real life as …
Posted: Oct 29, 2024
Specialist private equity investor B.P. Marsh & Partners Plc has announced the sale of Lilley Plummer Holdings Limited, the 100% owner of specialist Lloyd’s broker Lilley Plummer Risks Limited (LPR), a marine and property specialist. Clear Lon...
Posted: Oct 29, 2024
North Carolina Gov. Roy Cooper approved more than $600 million worth of disaster relief funding last Friday for western North Carolina counties affected by Hurricane Helene after legislators passed the recovery bill the day before. The bill is the se...
Posted: Oct 29, 2024
Six months after a North Carolina captive insurance firm for nursing homes around the country accused its managers of poaching proprietary software and forming a competing management company, a federal judge has dismissed the lawsuit. “Plaintif...
Posted: Oct 29, 2024
The Reinsurance News Monte Carlo Executive Rendezvous Roundtable took place at the 66th edition of RVS in September 2024 and featured insightful discussions on the reinsurance market as we head towards the key January 2025 renewals. In partnership...
Posted: Oct 29, 2024
WTW announced the expansion of its Corporate Risk & Broking (CRB) business in Japan with the launch of an insurance brokerage service. The new service will offer insurance solutions to commercial clients, as well as wholesale facultative reinsura...
Posted: Oct 29, 2024
Accredited Insurance Holdings, a global programme manager, has appointed Barbara Bufkin and Patricia Roufca as Non-Executive Directors to its Group Board. Throughout her career, Bufkin has held executive roles across reinsurance, specialty insuran...
Posted: Oct 29, 2024
A new lawsuit accuses Subway of “grossly misleading” customers by advertising sandwiches that contain at least three times more meat than it delivers. According to a proposed class action filed on Monday in federal court in Brooklyn, Subw...
Posted: Oct 29, 2024
During re/insurance broker Aon’s Profitable Growth Panel, Sierra Signorelli, CEO of Commercial Insurance at Zurich, emphasised that the use of data and technology is really going to distinguish top performers in the coming years. She noted that le...
Posted: Oct 29, 2024
Insurance Business Magazine - US
Posted: Oct 29, 2024
Insurance Business Magazine - US
Posted: Oct 29, 2024
U.S. Nuclear Regulator Begins Review on Three Mile Island Restart U.S. nuclear regulators kicked o...
Posted: Oct 29, 2024
Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms A federa...
Posted: Oct 29, 2024
New Gallagher Re-Bitsight Report Identifies Cyber Footprint as C...
Posted: Oct 29, 2024
When it comes to a technology revamp, who an insurance organization partners with matters. The last thing business leaders want is to spend time, money, and resources implementing a solution only for it to fail to provide value.
Posted: Oct 29, 2024
Fitch Ratings has upgraded the Outlook for Assicurazioni Generali S.p.A. (Generali) and its core subsidiaries to Positive from Stable, while affirming the Insurer Financial Strength (IFS) Rating at ‘A+’. Fitch has also affirmed Generali’s Long-Ter...
Posted: Oct 29, 2024
A federal judge in Connecticut has given final approval to a $1,525,000 class action settlement involving a data breach at Merritt Healthcare Advisors. About 3,320 people whose personal information was accessed by an unauthorized party during a secur...
Posted: Oct 29, 2024
Vienna Insurance Group has established CyRiSo, a cyber security firm aimed at small and medium-sized companies. Christiana Bruckner and Michael Ganzwohl have been appointed to manage CyRiSo, which aims to provide clients with comprehensive support...
Posted: Oct 29, 2024
BMS Group (BMS), an independent specialist re/insurance broker, has announced Heath Jose has joined BMS Re as Business Development Lead, a Singapore-based role, as part of the company’s growing global facultative practice in Asia In his new positi...
Posted: Oct 29, 2024
WTW, an advisory, broking, and solutions firm, has introduced ResQ Machine-led Reserving—a transformative technology designed to help insurers and reinsurers improve accuracy and efficiency in property and casualty (P&C) reserving. ResQ Machin...
Posted: Oct 29, 2024
Brookfield Wealth Solutions, has entered the reinsurance business in Japan and has hired Tomohide Yokooka, formerly of Barclays Plc, as managing director and country head, according to people familiar with the matter. Brookfield Wealth, which was spu...
Posted: Oct 29, 2024
Reinsurance trading platform Supercede has announced the appointment of Deeva Chamdal as Technical Reinsurance Consultant. In her role, Chamdal will be based in London and report to Jess McCausland, Head of Client Success. Tom Spier, Chief Commerc...
Posted: Oct 29, 2024
The Insurance Regulatory and Development Authority of India (IRDAI) has granted independent insurance broker Lockton regulatory approval for the acquisition of Arihant Insurance Broking Services Limited. Lockton’s strategic expansion into the Indi...
Posted: Oct 29, 2024
MIJS Captive Management, LLC has partnered with International Re (I-RE), a specialist captive insurance and reinsurance MGA, to help MIJS’s mid-market clients take on part of their own commercial property and casualty (P&C) insurance risk in a...
Posted: Oct 29, 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums reached almost €6.3 billion in the first nine months of 2024, up 3.5% from last year, while the net result hit €207 million. MAPFRE RE’s premiu...
Posted: Oct 29, 2024
The fate of Johnson & Johnson’s latest push to use bankruptcy courts to end thousands of cancer lawsuits tied to its iconic baby powder now hinges on a high-stakes trial in January. After months of wrangling, a federal judge in …
Posted: Oct 29, 2024
WTW, a global advisory, broking, and solutions company has launched WTW Broker Japan Co., Ltd., an insurance brokerage service which expands the company’s Corporate Risk & Broking (CRB) business in Japan. The new retail brokerage will of...
Posted: Oct 29, 2024
Posted: Oct 29, 2024
Posted: Oct 29, 2024
Novatae Risk Group, a wholesale insurance brokerage, managing general agency, and program manager, has appointed John Catrabone as Vice President of Carrier Relations, based out of Ohio, US. In this role, Catrabone will manage and grow carrier rel...
Posted: Oct 29, 2024
Hiscox, a specialist insurer known for providing a range of insurance products, including coverage for businesses against various risks, recently released findings from their annual Cyber Readiness Report. The report reveals that two-thirds of org...
Posted: Oct 29, 2024
Insuritas, an US embedded insurance provider for financial institutions, has partnered with Recoop Disaster Insurance to add Disaster Insurance into its platform. Through this strategic partnership, Recoop’s multi-peril disaster insurance pr...
Posted: Oct 29, 2024
Executive Summary: During the period 2013 through 2018, the U.S. did not become less litigious nor did Atlantic sea surface temperatures get less warm. Yet rates for U.S. excess liability and Atlantic hurricane both reduced, observe the co-founders o...
Posted: Oct 29, 2024
Markel, the insurance division of Markel Group, has appointed Dena Furmanek as Senior Underwriter – Fine Art, North America, with immediate effect. Based in the Chicago area, Furmanek will report to Kyle McGrath, Head of US Fine Art. In her new ro...
Posted: Oct 29, 2024
The recent negative outlook revision for France does not impact the ratings of French insurers, except for CNP Assurances SA, which has also had its outlook revised to negative, according to Fitch Ratings. CNP’s revised outlook aligns with a...
Posted: Oct 29, 2024
The Hartford, headquartered in Hartford, Connecticut, has expanded Michael Garrison’s role to include the international division in addition to his current responsibilities as head of the company’s U.S. wholesale organization. Garrison jo...
Posted: Oct 29, 2024