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CHIMNEY ROCK VILLAGE, N.C. (AP) — The stone tower that gave this place its name was nearly a half billion years in the making — heated and thrust upward from deep in the Earth, then carved and eroded by wind …
Posted: Oct 07, 2024
Another day, another hurricane. That may be the thought in the minds of thousands of Floridians as Hurricane Milton makes its way toward the west coast of Florida – the fourth hurricane in 14 months to target the low-lying shoreline …
Posted: Oct 07, 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Vince Turnbull as Senior Reinsurance Actuary for its Accident, Health & Life team, based in Philadelphia. Turnbull is a credentialed actuary as an FSA and MAAA,...
Posted: Oct 07, 2024
Italian prosecutors on Saturday accused seven people and two sub-contractors of crimes including fraud and breaching airplane safety rules following an investigation into suspected flawed parts produced by an Italian company for Boeing. The prosecuto...
Posted: Oct 07, 2024
A California vineyard owner is suing Santa Clara County after officials fined him for allowing his longtime employee to live in an RV on his property for years. Michael Ballard, whose family owns Savannah-Chanelle Vineyards in a town south of …
Posted: Oct 07, 2024
A California vineyard owner is suing Santa Clara County after officials fined him for allowing his longtime employee to live in an RV on his property for years. Michael Ballard, whose family owns Savannah-Chanelle Vineyards in a town south of …
Posted: Oct 07, 2024
Munich Re believes that a soft market is not likely to happen in the near-term, the reinsurer’s management shared with Jefferies in a recent meeting. According to analysts, in Munich Re’s view, “it takes a globally material reinsurer (i.e. the top...
Posted: Oct 07, 2024
Total insured loss from Hurricane Helene is now estimated at between $10.5 billion and $17.5 billion—a figure that continues to grow as more damages are assessed, pushing catastrophe modelers to continually revise estimates upward. The estimate out f...
Posted: Oct 07, 2024
Total insured loss from Hurricane Helene is now estimated at between $10.5 billion and $17.5 billion—a figure that continues to grow as more damages are assessed, pushing catastrophe modelers to continually revise estimates upward. The estimate out f...
Posted: Oct 07, 2024
In a recent interview with Reinsurance News, Greg Richardson, Chief Executive Officer of Greenlight Re, stated that the Cayman Islands is an “advantageous environment,” particularly for tech-driven (re)insurance start-ups. “Speak...
Posted: Oct 07, 2024
The Africa Centres for Disease Control and Prevention said mpox is spreading rapidly in the Democratic Republic of Congo’s capital Kinshasa, a city of 17 million people, and a case in Ghana brings to 16 the number of countries on …
Posted: Oct 07, 2024
Despite noting the considerable uncertainty around Hurricane Milton’s path and landfall location, analysts at KBW have suggested that possible reinsured losses from the event could drive property catastrophe reinsurance rates up at the Janua...
Posted: Oct 07, 2024
One-Third of Global Population at Risk for Floods: Moody’s A new white paper from...
Posted: Oct 07, 2024
Florida Readies for Major Hurricane Milton Florida...
Posted: Oct 07, 2024
Hospitals Seen as Potential Growth Area for Litigation Financing The litigation-financing indust...
Posted: Oct 07, 2024
Insurance Europe, the association representing insurance and reinsurance companies, has announced the appointment of Thea Utoft Høj Jensen as director general, effective 5 November, 2024. Thea will succeed Michaela Koller, who has served as direct...
Posted: Oct 07, 2024
Karen Read is seeking to delay a wrongful death lawsuit filed by the family of her Boston police officer boyfriend until her criminal trial in connection with his death is done. The lawsuit filed last month blames the death of …
Posted: Oct 07, 2024
Amid inflation and labor shortages, the growing impact of electric vehicles (EVs) and rising repair costs, insurers and repairers will have a bumpy road to navigate in the year ahead, according to CCC Intelligent Solutions Inc.’s Crash Course Q...
Posted: Oct 07, 2024
MNK Group has established Pt Mekong Re, a Labuan-domiciled reinsurance entity, aimed at providing additional capacity for specialty lines of business and hard-to-place risks. Through the group, Pt Mekong Re has access to Lloyd’s of London and aims...
Posted: Oct 07, 2024
When Hurricane Helene barreled ashore last week, it caused devastating flooding across the southeastern U.S., including in the Shore Acres area of St. Petersburg, Florida. The neighborhood saw 6 feet of storm surge, which flooded roads and homes. It...
Posted: Oct 07, 2024
The NFL saw its fewest number of concussions in the preseason since tracking started in 2015. There were 44 concussions in practices and games, a decrease of about 24% from last year. “The reason for that change has certainly to …
Posted: Oct 07, 2024
Charles Taylor, an independent global provider of claims solutions, has announced the appointment of Robert Paxton as Managing Director of its Canadian operations, effective October 1, 2024. In this role, Paxton will lead the company’s effor...
Posted: Oct 07, 2024
Despite cyber security concerns being top-of-mind and the average data breach exceeding over US$3 million, only 2% of businesses have implemented cyber resilience across their organisation, although cyber budgets are poised to increase, a recent P...
Posted: Oct 07, 2024
Berkshire Hathaway Specialty Insurance (BHSI) has opened an office in Hamburg, naming Thomas Pache to lead its newly launched PI and Cyber Insurance lines in the DACH region, and Kim Schumacher as Senior Property Underwriter. A executive with more...
Posted: Oct 07, 2024
The river port in the Amazon rainforest’s largest city of Manaus on Friday hit its lowest level since 1902, as a drought drains waterways and snarls transport of grain exports and essential supplies that are the region’s lifeline. Below-a...
Posted: Oct 07, 2024
The remnants of Hurricane Kirk are forecast to hit northwest France on Wednesday, bringing heavy rain and gale-force winds. Hurricane Kirk peaked at Category 4 storm over the Atlantic last week, but is weakening as it heads toward Europe. Still, R...
Posted: Oct 07, 2024
The remnants of Hurricane Kirk are forecast to hit northwest France on Wednesday, bringing heavy rain and gale-force winds. Hurricane Kirk peaked at Category 4 storm over the Atlantic last week, but is weakening as it heads toward Europe. Still, R...
Posted: Oct 07, 2024
Parametric insurance is key for closing the US$1.8trillion protection gap for communities and countries on the frontlines of interrelated crises, including climate change, according to Generali and the United Nations Development Programme (UNDP)....
Posted: Oct 07, 2024
Broking group Aon has appointed Alejandro Padilla Mariscal as its new Managing Director, Consulting and Science Reinsurance Solutions for Latin America. In the new role, Padilla will lead the catastrophe modelling firm, ERN Evaluación de Riesgos N...
Posted: Oct 07, 2024
With maximum sustained winds of 90 mph, Milton is likely to become a major hurricane later today and is moving “erratically eastward” through the southern Gulf of Mexico, according to the National Hurricane Center (NHC), and reinsuranc...
Posted: Oct 07, 2024
DONALDSONVILLE, La. (AP) — An employee at a fertilizer plant in Louisiana died after getting injured in an accident at the facility, officials said Friday. CF Industries said the incident happened at about 1:45 p.m. Wednesday at its nitrogen fertiliz...
Posted: Oct 07, 2024
Posted: Oct 07, 2024
Catastrophe risk modeller CoreLogic has revised its estimate of total insured losses from Hurricane Helene to between $10.5 – $17.5 billion following the inclusion of losses covered by the National Flood Insurance Program (NFIP). According t...
Posted: Oct 07, 2024
DA Strategy, a specialist Delegated Authority consultant and MGA Accelerator, has announced the appointment of Jason Anthony as Associate Director, MGA Advisory and Launch. Anthony brings to his new role over 37 years of experience in the Lloyd’s...
Posted: Oct 07, 2024
As Earth Gets Hotter, Insurance Gets Smarter Resilience & Sustainability ClareCarroll1
Posted: Oct 07, 2024
Are We Losing Our Negotiating Power? Claims ClareCarroll1
Posted: Oct 07, 2024
Hippo, a publicly traded property insurance brokerage based in California, said it will expand its new homes insurance program in the disaster-prone states of Florida, Texas and California. By the end of this year, Hippo, owned by a number of …
Posted: Oct 07, 2024
UK-based mutual insurer Royal London has announced its entry into the bulk purchase annuity (BPA) market, focusing on BPA transactions of up to £500 million in collaboration with trustees and advisers. To support this initiative, Royal London has...
Posted: Oct 07, 2024
The impact and surge of long-term COVID on the California workers’ compensation system since 2020 has been prevalent, including long-term impacts on disability and long-term patterns of medical cost and treatment on long COVID claims. That̵...
Posted: Oct 07, 2024
A once-wealthy JPMorgan Chase & Co. client whose portfolio crumbled as he slid into dementia lost a legal battle seeking to recoup his fortune from the bank. A federal judge in Boston threw out a lawsuit filed by Peter Doelger, …
Posted: Oct 07, 2024
The U.S. Supreme Court agreed on Friday to decide whether it should be more difficult for workers from “majority backgrounds,” such as white or heterosexual people, to prove workplace discrimination claims. The justices took up an appeal...
Posted: Oct 07, 2024
A New Jersey appeals court has ruled that a couple severely injured in an Uber driver crash cannot sue Uber because their minor daughter months earlier waived their rights to a trial when she ordered food via the Uber Eats …
Posted: Oct 07, 2024
In the workers’ compensation world, managing pharmacy benefits is a necessity but choosing the right PBM requires information and understanding. The post
Posted: Oct 06, 2024
Nowhere in America Is Safe From Climate-Fueled Storms and Fires Forecasters had warned f...
Posted: Oct 06, 2024
Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage. Privately insured loss from Hurricane Francine are estimated to be close to...
Posted: Oct 06, 2024
AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas Farm Bureau Casualty Insuranc...
Posted: Oct 06, 2024
By Don Jergler Want a simple, yet effective agency management tip for making your employees happy? Treat them like customers. That mindset stood out among comments from employees who nominated Morris & Garritano in Insurance Journal’s 2024...
Posted: Oct 06, 2024
By William Rabb Finding insurance coverage for trucking firms could be considered a high-stress occupation. With the rise of nuclear lawsuit verdicts and “big-truck attorneys,” escalating premiums, and new state laws and regulations, it&#...
Posted: Oct 06, 2024
By William Rabb In recent years, workers’ compensation insurers have struggled to accurately gauge the precise trends in medical costs, and have had to rely on indexes that weren’t quite on-point: The U.S. Consumer Price Index is geared t...
Posted: Oct 06, 2024