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Insurance Business Magazine - US
Posted: Oct 28, 2024
The Canadian government warned Friday that “a sophisticated state-sponsored threat actor from the People’s Republic of China” has been scanning the cyber defenses of important public entities. “Reconnaissance scanning is not a...
Posted: Oct 28, 2024
Scottish insurtech Broker Insights, whose platform helps brokers to better understand their business and connect with insurers, has announced its launch in the United States. Broker Insights’s platform, Vision, has been specifically tailored for t...
Posted: Oct 28, 2024
How AI Can Help on Compliance Agent & Broker sradomski
Posted: Oct 28, 2024
International General Insurance Holdings Ltd. announced it will move its London operations to new offices on the 15th floor of the so-called “Walkie-Talkie” building at 20 Fenchurch Street, London, EC3M 3BY on Monday, Oct. 28, 2024. IGI s...
Posted: Oct 28, 2024
Moves by major U.S. fast-food chains to temporarily pull fresh onions off their menus on Thursday, after the vegetable was named as the likely source of an E. coli outbreak at McDonald’s, laid bare the recurring nightmare for restaurants: Produ...
Posted: Oct 28, 2024
More than 100 people were arrested late last week in storm-ravaged Pinellas County, Florida, charged with looting homes and working as unlicensed contractors, two weeks after Hurricane Milton forced many residents to evacuate. Pinellas County Sheriff...
Posted: Oct 28, 2024
This edition of Interational People Moves details appointments at the brokers Price Forbes and WTW. A summary of these new hires follows here. Price Forbes Bermuda Promotes Kelley to CEO Price Forbes Bermuda announced the promotion of Carrie Kelley t...
Posted: Oct 28, 2024
The parent of the Liberty Mutual Insurance group of entities, Liberty Mutual Holding Company, Inc., has revealed that it expects losses related to hurricane Helene of approximately $550 million (pre-tax) in its third quarter results, and losses of...
Posted: Oct 28, 2024
U.S. nuclear regulators kicked off a long-winding process to consider Constellation Energy’s unprecedented plans to restart its retired Three Mile Island nuclear power plant in an initial public meeting held on Friday. Constellation, which anno...
Posted: Oct 28, 2024
Ascot, the Bermuda-domiciled global specialty insurer, has announced the promotion of two senior leaders: Michael Grayston as Group Treasurer and Chief Investment Officer (CIO), and Sarah Thompson as Group Chief Accounting Officer. In his newly ex...
Posted: Oct 28, 2024
North Carolina Calculates Helene Damage at $58B, Far More than Florence The catastrophic flooding...
Posted: Oct 28, 2024
NFIP Reform Needed to Bring Down Flood Insurance Costs: Louisiana Senator Louisiana Senator B...
Posted: Oct 28, 2024
Judge Approves $102 Million Settlement Over Baltimore Bridge Collapse A U.S. judge approved on F...
Posted: Oct 28, 2024
Lyft Inc. agreed to pay $2.1 million to resolve a lawsuit by the US Federal Trade Commission accusing the ride-hailing company of deceiving drivers about how much they would earn when consumer demand picked up after the pandemic. The agency …
Posted: Oct 28, 2024
The state of Connecticut on Saturday instituted a ban on the use of outdoor grills, firepits, and campfires, and the kindling and use of flame outdoors in all state parks, forests, and wildlife management areas due to statewide severe fire …
Posted: Oct 28, 2024
The efforts to rebuild in Southeastern states after a pair of destructive hurricanes are at risk of being drawn out by shortages of a critical supply of workers: migrants. Builders are anxious about proposals laid out by Donald Trump that …
Posted: Oct 28, 2024
The world is on course to miss a target for cutting emissions this decade by an overwhelming amount, new UN analysis shows, meaning more dangerous global warming is likely. Total emissions of CO2 into the atmosphere in 2030 will only …
Posted: Oct 28, 2024
The Australian Reinsurance Pool Corporation (ARPC), a government-backed provider of reinsurance for terrorism-related risks, has released its 2023-24 Annual Report, posting an operating result of $710.1 million. During this time, ARPC received a t...
Posted: Oct 28, 2024
Global insurance and reinsurance broking group Aon has announced the retirement of Jeff Polisenof following a distinguished 30-year career in aerospace broking and risk management. As Poliseno steps down, Jared Ball will take on additional respons...
Posted: Oct 28, 2024
Gallagher has further expanded its services with the launch of alternative risk management solutions in the Abu Dhabi Global Market (ADGM) through its wholly-owned subsidiary, Artex. This expanded suite of solutions available to clients leverages...
Posted: Oct 28, 2024
Gallagher has further expanded its services with the launch of alternative risk management solutions in the Abu Dhabi Global Market (ADGM) through its wholly-owned subsidiary, Artex. This expanded suite of solutions available to clients leverages...
Posted: Oct 28, 2024
The Inter-American Development Bank (IDB) has announced a new $1 billion securitisation transaction, Scaling4Impact, which includes a $100 million mezzanine tranche, of which a portion was sold to international investor Newmarket Capital, and the...
Posted: Oct 28, 2024
Gas stoves in European homes are associated with tens of thousands of premature deaths, a study has found. Nearly 40,000 early deaths each year in the EU and UK can be linked to exposure to nitrogen dioxide from burning gas …
Posted: Oct 28, 2024
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-headquartered broker, announced the acquisition of Australia’s Via Financial Group Pty Ltd. Terms of the transaction were not disclosed. Based in Sydney, New South Wales, Via Financia...
Posted: Oct 28, 2024
Price Forbes Bermuda has announced the promotion of Carrie Kelley to the role of Chief Executive Officer (CEO). In her new role, Kelley will oversee all Price Forbes Bermuda operations and report directly to Chris Bonard, CEO of Ardonagh Specialty...
Posted: Oct 28, 2024
With Ralph Beutter, the member of HDI’s Executive Board responsible for Specialty Lines, retiring on 31 May 2025, Dr Renate Strasser is set to join the company effective 1 April 2025, taking over his responsibilities. According to HDI, Beutt...
Posted: Oct 28, 2024
Brazil on Friday signed a 170 billion reais ($29.85 billion) compensation agreement with miners BHP, Vale, and Samarco for the Mariana dam collapse in 2015, one of the country’s worst environmental disasters. The collapse of the dam at the iron...
Posted: Oct 28, 2024
Everest Reinsurance, the reinsurance division of Everest Group, Ltd., has promoted Shirine Dajjani to the role of International Reinsurance Operating Officer, based out of Zurich. In her new position, Dajjani will oversee the alignment of the firm...
Posted: Oct 28, 2024
Global advisory, broking, and solutions company WTW has reportedly secured an insurance licence to act as an insurance broker in the Kingdom of Saudi Arabia, naming Talal Omar Bahafi as the new Head of Insurance Broking, WTW Saudi Arabia. Previous...
Posted: Oct 28, 2024
After building it business up in the United Kingdom, Broker Insights said it is ready to officially bring its commercial insurance placement analytics to the United States. For the last 12-18 months, Broker Insights has been preparing for its expansi...
Posted: Oct 28, 2024
Prudential has announced the Hong Kong launch of MedScreen+, a digital underwriting tool developed in collaboration with Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurer. By utilising optical character recogniti...
Posted: Oct 28, 2024
Rare Earth Insurance Partners Shanghai (Rare Earth Shanghai), member of the +8 Partners ecosystem, has officially launched in mainland China as the first independent wholesale insurance broker in the territory. The company, which is led by indust...
Posted: Oct 28, 2024
TIH, a US insurance brokerage, announced that its President, Dave Obenauer, will step into the role as Chief Executive Officer, effective January 1, 2025, with current CEO John Howard transitioning to Vice Chair. Obenauer, who has been with TIH si...
Posted: Oct 28, 2024
How to Leverage the Personalization Boom Customer Experience ClareCarroll1
Posted: Oct 28, 2024
The Need for 'Systems Failure' Coverage Cyber ClareCarroll1
Posted: Oct 28, 2024
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has revamped its cyber proposition for large corporate clients, which includes re-entering primary coverage for this market, doubling its excess of loss (XOL) limit, and expanding it...
Posted: Oct 28, 2024
Insurance Business Magazine - US
Posted: Oct 28, 2024
Reinsurance costs, persistent inflation, regulations, and frequent weather-related claims are driving up property insurance prices, affecting commercial real estate returns, valuations, and transactions, according to a Urban Land Institute (ULI) a...
Posted: Oct 28, 2024
Ahead of the next COP meeting, the Lloyd’s Market Association (LMA) commissioned a report, Underwriting the Transition, where KPMG examined the challenges, risks, and rewards of the low-carbon transition for the insurance sector over the next two...
Posted: Oct 28, 2024
Posted: Oct 28, 2024
Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), accord...
Posted: Oct 28, 2024
The US government said Friday it was investigating unauthorized access by Chinese state-affiliated hackers targeting the commercial telecommunications sector. The FBI and the Cybersecurity and Infrastructure Security Agency said they had identified s...
Posted: Oct 28, 2024
One of Florida’s largest property insurers and one of its smaller carriers reported losses at least partly related to Hurricane Helene, which landed just before the third quarter closed, and from Hurricane Milton, which struck less than two wee...
Posted: Oct 28, 2024
A set of lawsuits was filed last Wednesday by people who claim they were sexually abused inside Pennsylvania juvenile detention and treatment facilities, making more than 200 people to have launched such cases since May. The New York-based Levy Konig...
Posted: Oct 28, 2024
New vehicle registrations in California seem to be leveling off, while consumer tastes for Telsas cooled slightly. California’s new light vehicle registrations fell by 1.7% from a year earlier, totaling 1,320,708 units, an outlook covering the...
Posted: Oct 28, 2024