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People Moves: The Hartford Announces Leadership Appointments In Global Specialty

Insurance Journal

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

Delta Sues CrowdStrike Over ‘Catastrophic’ Software Glitch

Insurance Journal

Delta Air Lines Inc. sued cybersecurity firm CrowdStrike Holdings Inc. over the chaos caused this summer by a “catastrophic” software update that disabled millions of computers worldwide and grounded much of the airline’s passenger...

Posted: Oct 29, 2024

New Gallagher Re-Bitsight Report Identifies Cyber Footprint as Claims Driver

Insurance Journal

A new report from Gallagher Re has found that cyber insurers could reduce loss ratios up to 16% by removing most-at-risk entities. Using independent analysis of cybersecurity performance data provided by Bitsight in combination with claims data, the...

Posted: Oct 29, 2024

Lawsuit Alleges Child Sexual Abuse of WWE ‘Ring Boys’ in Maryland

Insurance Journal

A new lawsuit accuses the WWE and its founders of fostering a culture of sexual abuse within the organization and looking the other way while a longtime ringside announcer preyed on young men he hired as “ring boys.” The suit …

Posted: Oct 29, 2024

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

Insurance Journal

A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a “direct physical loss” as required by the policy. The Fourth Circ...

Posted: Oct 29, 2024

Report: Climate Risks Increasing Insurance Rates and Hurting CRE Returns

Insurance Journal

Costly reinsurance, inflation, tough regulations, and increasing weather-related claims are driving up property insurance prices—and in turn, that is impacting commercial real estate returns, valuations, and transactions, a new report shows. The Urba...

Posted: Oct 29, 2024

Washington Commissioner’s Office Found Most Homes in 2003 Wildfire Were Under-Insured

Insurance Journal

An analysis of the claims paid out after the Gray and Oregon Road fires in Washington last year found that most of the homes destroyed were under-insured. The fires destroyed 366 homes, burning more than 20,000 acres outside of Spokane …

Posted: Oct 29, 2024

Washington Commissioner: Most Homes in 2003 Wildfire Were Underinsured

Insurance Journal

An analysis of the claims paid out after the Gray and Oregon Road fires in Washington last year found that most of the homes destroyed were underinsured. The fires destroyed 366 homes, burning more than 20,000 acres outside of Spokane …

Posted: Oct 29, 2024

Washington Commissioner: Most Homes in 2023 Wildfire Were Underinsured

Insurance Journal

An analysis of the claims paid out after the Gray and Oregon Road fires in Washington last year found that most of the homes destroyed were underinsured. The fires destroyed 366 homes, burning more than 20,000 acres outside of Spokane …

Posted: Oct 29, 2024

People Moves: Burns & Wilcox Names Carvalho to Lead San Francisco, Seattle and Portland

Insurance Journal

Burns & Wilcox named Tom Carvalho as the new managing director of the company’s San Francisco, Seattle and Portland offices. Carvalho, who is based in San Francisco, joined Burns & Wilcox in 2011 as an associate underwriter, establishin...

Posted: Oct 29, 2024

A Challenge for Embedded Insurance

Insurance Thought Leadership

A Challenge for Embedded Insurance Auto Insurance ClareCarroll1

Posted: Oct 28, 2024

Crews Fight Large Brush Fire in Massachusetts; Separate Fire Kills 1

Insurance Journal

A woman died in an outdoor fire in Massachusetts at an encampment in Millbury on Saturday night and crews on Sunday were still fighting a large overnight brush fire in Salem as dry and windy conditions have raised the risk …

Posted: Oct 28, 2024

Tech Bytes: New Partnerships at Mylo, Cytora

Carrier Management

Tech Bytes: New Partnerships at Mylo, Cytora InsurTech Mylo announced its membe...

Posted: Oct 28, 2024

The Heart of the Matter: Pharmacy Considerations for Cardiovascular Comorbidities

Risk & Insurance

Hypertension and other cardiovascular diseases affect 128 million adults in the United States. The post The Heart of th...

Posted: Oct 28, 2024

INSHUR Raises More Than $19M in Latest Funding Round

Carrier Management

INSHUR Raises More Than $19M in Latest Funding Round INSHUR, a global e...

Posted: Oct 28, 2024

How the Construction Industry Is Tackling 3 Emerging Risks

Risk & Insurance

Insureds are encountering more challenges when purchasing builder’s risk policies. The post How the Construction Industry Is Tackling 3 Emer...

Posted: Oct 28, 2024

How Premises Pollution Insurance Can Bridge Gaps for Environmental Coverage

Risk & Insurance

Philadelphia Insurance Companies’ Trevor Salman discusses how premises pollution coverage can be a valuable addition to environmental coverage, particularly as our climate changes. The post

Posted: Oct 28, 2024

October is Cybersecurity Awareness Month: Know the Various Scams

Carrier Management

October is Cybersecurity Awareness Month: Know the Various Scams October is Cybersecurity Awareness Mon...

Posted: Oct 28, 2024

Porch announces reciprocal exchange regulatory approval

coverager

Porch will be the operator managing PIRE’s operations.

Posted: Oct 28, 2024

Macquarie launches rent-a-captive insurance solution

coverager

Earlier this year, Macquarie was approved as a Lloyd’s cover holder.

Posted: Oct 28, 2024

Haven Technologies to close down

coverager

A conversation with Vertafore’s Tim Owen, VP of Product Management

Posted: Oct 28, 2024

9M’24 insured natural catastrophe losses above average at $102bn: Aon

Reinsurance News

Global broking group Aon estimates insurance industry losses from natural catastrophe events in the first nine months of 2024 of at least $102 billion, with the impacts of hurricane Milton and additional events expected in the rest of the year poi...

Posted: Oct 28, 2024

Climate Change Has Intensified Storm Rainfalls by 20%: Study

Carrier Management

Climate Change Has Intensified Storm Rainfalls by 20%: Study The heavy rain that hit muc...

Posted: Oct 28, 2024

Insurance M&A Activity Stabilizing in 2024: Optis Partners

Risk & Insurance

M&A activity in the insurance industry stabilizes as a steady supply of sellers meets a diverse buyer landscape, according to to the latest Q3 2024 update from Optis Partners . The post

Posted: Oct 28, 2024

Porch receives approval from TDI to set up an insurance reciprocal exchange, PIRE

Reinsurance News

Porch Group, a homeowners insurance and vertical software platform, has been approved by the Texas Department of Insurance (TDI) to form and licence Porch Insurance Reciprocal Exchange (PIRE), a new homeowners insurance reciprocal exchange. PIRE&#...

Posted: Oct 28, 2024

Texas Department of Insurance OKs Porch Group’s Reciprocal Exchange

Insurance Journal

The Texas Department of Insurance approved an application from Porch Group Inc. to form and license Porch Insurance Reciprocal Exchange, a homeowners insurance reciprocal exchange. Porch said that forming PIRE is a key step in its strategy to increas...

Posted: Oct 28, 2024

Alex Dalton named MD of ViVet, strengthening leadership at Else Group

Reinsurance News

Else Group, a company specialising in insurance solutions, and ViVet, its UK-based Managing General Agent (MGA) and Lloyd’s Coverholder, are pleased to announce the appointment of Alex Dalton as Managing Director of ViVet. Through this appointment...

Posted: Oct 28, 2024

People Moves: McCarty Joins Alliant as SVP, Employee Benefits Group

Insurance Journal

Tammy McCarty joined Alliant Insurance Services, headquartered in Irvine, California, as senior vice president within its employee benefits group. Based in Austin, Texas, McCarty has over 25 years of experience leading human resources initiatives. Sh...

Posted: Oct 28, 2024

People Moves: Novatae Risk Group Hires Catrabone as Carrier Relations VP

Insurance Journal

Novatae Risk Group, headquartered in Dallas, named John Catrabone as vice president of carrier relations. Based in Ohio, Catrabone comes to Novatae with more than 30 years of experience in various insurance industry sectors. Before joining Novatae, w...

Posted: Oct 28, 2024

Liberty Mutual Estimates Up to $900M in Losses From Helene and Milton

Insurance Journal

Liberty Mutual Insurance today said it expects up to $900 million in losses from hurricanes Helene and Milton. Parent Liberty Mutual Holding Company (LMHC) in a statement released some preliminary third quarter information “in support of a pote...

Posted: Oct 28, 2024

54,000 NFIP flood insurance claims filed for Hurricane Helene: FEMA

Reinsurance News

So far, policyholders of the National Flood Insurance Program (NFIP) have filed more than 54,000 claims following Hurricane Helene, the U.S. Federal Emergency Management Agency (FEMA) has reported. Helene was the sixth named storm of the 2024 Atla...

Posted: Oct 28, 2024

Tysers names Babita Rai as CEO, Singapore & William Furness-Smith as Head of Marine, APAC

Reinsurance News

Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has announced the appointments of Babita Rai as CEO for Singapore and William Furness-Smith as Head of Marine, APAC. As CEO of Tysers Singapore, Rai will focus on expand...

Posted: Oct 28, 2024

The Hartford announces new leadership appointments in Global Specialty

coverager

The changes are effective Nov. 1.

Posted: Oct 28, 2024

Nationwide partners with Arlo

coverager

Porch will be the operator managing PIRE’s operations.

Posted: Oct 28, 2024