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The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains, according to a report publishe...
Posted: Oct 10, 2024
hyperexponential, a pricing platform for global re/insurers, has launched its first templated reinsurance model aimed for treaty reinsurance, including Excess of Loss (XoL). This move, hyperexponential stated, marks the company’s next stage...
Posted: Oct 10, 2024
Placing Platform Limited (PPL) has entered a multi-year agreement with Microsoft to accelerate its transition from a transaction platform to a data-driven trading hub. This collaboration will see the integration of Microsoft’s data and AI capabili...
Posted: Oct 10, 2024
Starwind Specialty Insurance Services, a division of CRC Group, has introduced a new environmental unit, which will be led by Mike Padula. In this position, Padula will oversee the creation of a comprehensive range of environmental products, posit...
Posted: Oct 10, 2024
“Relationships are certainly important, but how well you serve your customer and help them solve their problems is how your level of success is defined.” The post
Posted: Oct 10, 2024
In a new commentary, AM Best warns that Hurricane Milton poses a significant threat to the Florida-concentrated property insurers that lack diversification. AM Best believes that diversified, large insurers and reinsurers would be able to absorb l...
Posted: Oct 10, 2024
This post is part of a series sponsored by AgentSync. Digital transformation is taking the insurance industry by storm as more agencies, carriers, and MGA/MGUs update their manual processes in favor of modern, automated solutions. When it comes to a...
Posted: Oct 10, 2024
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has reported significant growth as it marks the first anniversary of its expansion into the UK. From January to June 2024 alone, Cowbell’s results show contin...
Posted: Oct 10, 2024
In their pre-landfall loss forecasts for Hurricane Milton, Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re, said private insurance market losses ranging from $30 billion to $40 billion could be expected, while BMS Group’s Sen...
Posted: Oct 10, 2024
Posted: Oct 10, 2024
Posted: Oct 10, 2024
Given that many primary P&C insurers are already near their 2024 catastrophe budgets due to H1 losses, S&P believes Hurricane Milton, along with other weather-related losses, could fully exhaust these budgets. However, reinsurers may still...
Posted: Oct 10, 2024
Home insurance firm Hippo has appointed 25-year industry veteran, William Malone as the Vice President, Head of Agency effective immediately. Malone will lead Hippo’s sales, account management, and customer support functions. He has previous...
Posted: Oct 10, 2024
Small Track Changes Drive $70B+ Swing in Milton Insured Loss Estimates I...
Posted: Oct 10, 2024
The U.N. weather agency is reporting that 2023 was the driest year in more than three decades for the world’s rivers, as the record-hot year underpinned a drying up of water flows and contributed to prolonged droughts in some places. …
Posted: Oct 10, 2024
Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory ...
Posted: Oct 10, 2024
The Lloyd’s of London market is undermining climate action and should impose binding rules to prevent insurers supporting fossil fuel expansion, NGO Reclaim Finance said on Wednesday. Some European insurers, including Generali and Zurich, have...
Posted: Oct 10, 2024
Global insurance broker WTW and Keylane, a policy administration system provider in the Netherlands, have partnered to help insurers enhance their real-time pricing and speed to market. According to the announcement, this collaboration will help t...
Posted: Oct 10, 2024
GSK has agreed to pay up to $2.2 billion to settle most pending U.S. state court lawsuits claiming that a discontinued version of the heartburn drug Zantac caused cancer, the company announced on Wednesday. The settlement with ten plaintiffs’ l...
Posted: Oct 10, 2024
Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar act...
Posted: Oct 10, 2024
With Hurricane Milton now expected to produce several hundred thousand wind-damage claims and with the storm coming so soon on the heels of Hurricane Helene, industry leaders are bracing for significant delays in claims adjusting. “We’re...
Posted: Oct 10, 2024
It’s going to take about two weeks to remove smoldering debris from a Maine town’s trash incinerator after a fire burned in the waste for a week, officials said Tuesday. Firefighters have been stationed continuously at the trash incinerat...
Posted: Oct 10, 2024
Amwins and Floodbase have launched a municipal flood insurance program designed to insure California municipalities against previously uncovered losses due to atmospheric river flooding. The flood program closes the insurance gap with policy payouts...
Posted: Oct 10, 2024
The Centre for Disaster Protection, an organisation focused on enhancing financial support and preparedness for disaster response in low- and middle-income countries, presents its latest annual report, The State of Pre-arranged Financing for Disas...
Posted: Oct 10, 2024
The U.S. Environmental Protection Agency has reached a tentative $4.2 settlement with a firm that owned and operated a major East Coast refinery that was shuttered after an explosion and fire in 2019. The deal with Philadelphia Energy Solutions was &...
Posted: Oct 10, 2024
The state attorney general’s latest report on the deadly 2023 Lahaina wildfire flagged various locked gates that blocked people trying to flee as flaws in Maui’s evacuation planning. Yet a padlocked gate where the largest cluster of Lahai...
Posted: Oct 10, 2024
The Workers’ Compensation Insurance Rating Bureau of California governing committee selected Andrea Coleman, WCIRB executive vice president and chief operating officer, as the organization’s new president and CEO. Coleman’s promotio...
Posted: Oct 10, 2024
This post is part of a series sponsored by Darkhorse Insurance. Are you dipping your toes into commercial insurance sales? Well, hold on tight because selling commercial insurance isn’t your run-of-the-mill business. To navigate these waters su...
Posted: Oct 09, 2024
Marriott International has agreed to settle with the Federal Trade Commission and 50 state attorneys general over a series of data breaches at a guest-reservation system subsidiary. According to multiple statements from the states, Marriott will pay...
Posted: Oct 09, 2024
These notes will pay 7% interest per year starting October 9, 2024.
Posted: Oct 09, 2024
FinTech Global has released the new edition of its InsurTech100 list, highlighting the top innovators addressing the critical challenges facing insurers
Posted: Oct 09, 2024
Hispanic influence continues to expand in the world of business, entrepreneurship and insurance, playing a key role in shaping the future of these sectors while addressing the unique challenges and opportunities facing their communities.
Posted: Oct 09, 2024
The bill would require the disclosure of investors who have a right to receive payment based on the outcome of a case, as well as the disclosure of the financing agreement between investors and plaintiffs.
Posted: Oct 09, 2024
The commercial insurer has saved 2,700 human hours since its implementation of Digital Coworker in early 2023.
Posted: Oct 09, 2024
Risk Control’s Platform Will be Fully Integrated into Duck Creek’s SaaS Suite of Solutions in order to deliver comprehensive risk management and mitigation solutions.
Posted: Oct 09, 2024
Insurance Information Institute
For Immediate Release Triple-I: Loretta Worters, [email protected] Milliman: Jeremy Engdahl-Johnson, [email protected] NEW YORK, Oct. 10, 2024 – First-half economic and underwriting results for the U.S....
Posted: Oct 09, 2024
The integration of Kroll data with Cytora’s risk processing platform will enable insurers to get instant access to crucial data on assets to make quick and precise decisions.
Posted: Oct 09, 2024
Posted: Oct 09, 2024
MoneyLion will utilize TransUnion’s data and credit solutions as part of its hosted credit-decisioning platform and consumer finance experiences.
Posted: Oct 09, 2024
Ford Pro Insure is currently available in eight states.
Posted: Oct 09, 2024
Iain Belson appointed as Director of Distribution, while Beth Pilgrim joins as Strategic Portfolio Manager.
Posted: Oct 09, 2024
These notes will pay 7% interest per year starting October 9, 2024.
Posted: Oct 09, 2024
Insurance Business Magazine - US
Posted: Oct 09, 2024