All Posts

Softbank Says Credit Suisse to Blame For Fund’s $440 Million Greensill Los

Insurance Journal

Softbank Group Corp., facing a $440 million lawsuit from Credit Suisse, said the bank was to blame for some of the investor losses tied to the collapse of Greensill Capital. In the latest stage of the long-running dispute, Softbank said …

Posted: Oct 04, 2024

Softbank Says Credit Suisse to Blame For Fund’s $440 Million Greensill Loss

Insurance Journal

Softbank Group Corp., facing a $440 million lawsuit from Credit Suisse, said the bank was to blame for some of the investor losses tied to the collapse of Greensill Capital. In the latest stage of the long-running dispute, Softbank said …

Posted: Oct 04, 2024

Gerald M. Dolina to lead WTW’s Philippines and its CRB business

Reinsurance News

Global insurance broker WTW has appointed Gerald M. Dolina as Head of Philippines, and Head of Corporate Risk & Broking (CRB) Philippines, effective January 2nd, 2025. Dolina brings extensive experience in people, client, and market leadership...

Posted: Oct 04, 2024

FEMA Doesn’t Have Enough Funding to Last Through Hurricane Season, Mayorkas Warns

Insurance Journal

The Federal Emergency Management Agency can meet immediate needs but does not have enough funding to make it through the hurricane season, Homeland Security Secretary Alejandro Mayorkas told reporters Wednesday. The agency is being stretched as it wo...

Posted: Oct 04, 2024

Prime Insurance introduces TRU Solution for reliable crisis coverage

Reinsurance News

Prime Insurance Company, an excess and surplus lines carrier, has introduced the TRU Solution, offering clear and reliable coverage during times of crisis. The TRU Solution was developed in response to policyholders’ need for a trustworthy i...

Posted: Oct 04, 2024

HDI Global names Philipp Glanz as new MD of HDI Risk Consulting

Reinsurance News

HDI Global, the commercial and specialty lines insurer, has appointed Philipp Glanz as the new Managing Director (MD) of HDI Risk Consulting (HRC), effective as of October 1, 2024, where together with the current MD, Dr Jörg Ohlsen, he will focus...

Posted: Oct 04, 2024

The Chief Artificial Intelligence Officer: Leading AI Innovation and Risk Management

Insurance Journal

Generative artificial intelligence (AI) has emerged as a new technology with the potential to completely reshape business practices and create new avenues for innovation. It will significantly impact virtually every industry sector. Organizations hav...

Posted: Oct 04, 2024

AccuWeather Increases Estimate of Helene’s Economic Loss to $225B-$250B

Insurance Journal

AccuWeather has increased its estimate of the total damage and economic loss from Hurricane Helene in the U.S. to between $225 billion and $250 billion. The range makes Hurricane Helene one of the most damaging and impactful storms in U.S. …

Posted: Oct 04, 2024

Nowhere in America Is Safe From Climate-Fueled Storms and Fires

Insurance Journal

Forecasters had warned for days that Hurricane Helene was likely to cause widespread devastation. But when the powerful storm struck Florida and barreled through the eastern US last week, killing more than 180 people and taking whole communities offl...

Posted: Oct 04, 2024

WCIRB Summarizes 2024 California Workers’ Comp Legislation

Insurance Journal

The Workers’ Compensation Insurance Rating Bureau is giving its take on bills passed and passed on by California Legislature this year. The Legislature recessed for the year and Gov. Gavin Newsom had until Sept. 30 to sign or veto any …

Posted: Oct 04, 2024

Maryland Approves $2.75 Million Settlement in State Police Discrimination Case

Insurance Journal

Maryland officials approved a $2.75 million settlement on Wednesday to resolve a federal investigation into discriminatory hiring practices affecting Black and female applicants to the Maryland State Police. The settlement, approved by the Maryland B...

Posted: Oct 04, 2024

Lawsuit Filed Over Road Rage Shooting by Off-Duty Police Officer

Insurance Journal

The family of a man who was left permanently disabled after he was shot in the head during a road rage encounter in New Jersey, allegedly by an off-duty New York City police officer, has filed a lawsuit against the …

Posted: Oct 04, 2024

Howden acquires UK and Ireland’s largest beauty membership providers ABT & AIT

Reinsurance News

Howden has acquired Associated Beauty Therapists Ltd (ABT) and Associated Irish Therapists Ltd (AIT), two beauty membership providers that offer insurance broking services to members operating in the heath, wellbeing and beauty sectors in the UK a...

Posted: Oct 04, 2024

California Woman Who Lost Job After Talking with Auditors Won $8.7M Whistleblower Case

Insurance Journal

Tamara Evans found something fishy in the expenses filed by a San Diego contractor for the state’s police certification commission. Classes were reported as full to her employer, the Commission on Peace Officer Standards and Training, even if t...

Posted: Oct 04, 2024

$8.7M in Whistleblower Case for California Woman Who Talked with Auditors

Insurance Journal

Tamara Evans found something fishy in the expenses filed by a San Diego contractor for the state’s police certification commission. Classes were reported as full to her employer, the Commission on Peace Officer Standards and Training, even if t...

Posted: Oct 04, 2024

Washington Paper Mill Fined Nearly $650K in Machine Operator Death

Insurance Journal

The Washington State Department of Labor & Industries cited and fined a mill operator in Camas following an investigation into the death of a worker who was crushed by a packing machine that had no safety guards in place. The …

Posted: Oct 04, 2024

Massachusetts Man Charged With Defrauding Home Repair Insurance Provider

Insurance Journal

A Massachusetts man has been charged with defrauding a home repair insurance provider by billing for repair jobs that were never performed, the office of Acting U.S. Attorney Joshua S. Levy reported. According to the charging document, Christian Decr...

Posted: Oct 04, 2024

Rural Mutual, Badger Mutual Agree to Affiliate

Carrier Management

Rural Mutual, Badger Mutual Agree to Affiliate Wisconsin-ba...

Posted: Oct 04, 2024

Enhancing Underwriting Precision with AI and Cloud Technology: A Deep Dive into SelectsysTech’s RQB...

Insurance Journal

This post is part of a series sponsored by Selectsys. In today’s fast-paced insurance industry, precision in underwriting is not just a requirement—it’s a critical factor in maintaining competitiveness and ensuring profitability. As the i...

Posted: Oct 03, 2024

WCRI Study Shows Impact of Attorney Representation on Workers Comp

Carrier Management

WCRI Study Shows Impact of Attorney Representation on Workers Comp Attorney involvement in workers compen...

Posted: Oct 03, 2024

Thieves Hunting for Copper Are Vandalizing American EV Chargers

Carrier Management

Thieves Hunting for Copper Are Vandalizing American EV Chargers Rick Wilmer spends most of his work days at the o...

Posted: Oct 03, 2024

MetLife’s Upwise Solution Increases Benefits Enrollment, Engagement and Value

IIR

Upwise is designed to enhance the benefit experience with personalized benefit recommendations, including a major medical benefit recommendation that utilizes AI.

Posted: Oct 03, 2024

Aon Names Paul Schultz Global Vice Chair of Reinsurance

IIR

Richard Pennay, CEO of Insurance-Linked Securities for Aon Securities, will become CEO of Aon Securities, reporting to Andy Marcell, CEO of Risk Capital and Reinsurance Solutions.

Posted: Oct 03, 2024

Microinsurance Network Announces Partnership with The African Insurance Organisation

IIR

The partners aim to create a platform for knowledge sharing, capacity building, and the promotion of product development to enhance inclusive insurance on the continent.

Posted: Oct 03, 2024

Helene Causes Insured Losses near $6.4B: KCC Flash Estimate

IIR

While Florida’s capital had a close call, the storm moved rapidly inward and poured record amounts of rainfall on the steep terrain of eastern Tennessee and west North Carolina.

Posted: Oct 03, 2024

What Does Aggregate Mean in Insurance? A Simple Guide

Insurance Journal

This post is part of a series sponsored by Darkhorse Insurance. In insurance, “aggregate” is a term that can make a big difference in your coverage. In this guide, we will break down what it means and why it matters …

Posted: Oct 03, 2024

Counterpart adds General Liability coverage

coverager

This new offering provides small businesses access to expanded coverage through Counterpart’s network of wholesale broker partners.

Posted: Oct 03, 2024

Everest sells certain assets to Ryan Specialty

coverager

Everest is selling EverSports and Entertainment Insurance.

Posted: Oct 03, 2024

Lockton Australia launches Lockton Pulse

coverager

For an insurance-focused platform like Kyber, achieving SOC 2 Type 1 certification is more than a badge of honor—it's a critical step in demonstrating our adherence to industry regulations and our commitment to safeguarding sensitive data.

Posted: Oct 03, 2024

Caroline Alder-Smurthwaite Appointed to Global Underwriting Office at BHSI

Risk & Insurance

The latest people news in the industry today. The post Caroline Alder-Smurthwaite Appointed to Global Underwriting Office at...

Posted: Oct 03, 2024

3 Types of Workers’ Comp Mental Health Concerns and How to Address Them Before They Drive Up Claim C...

Risk & Insurance

Workers’ comp payers have long been skeptical about psych claims. Here’s why that perspective needs to change. The post

Posted: Oct 03, 2024

Keith Walsh Joins AIG as Executive Vice President and Chief Financial Officer

Risk & Insurance

The latest people news in the industry today. The post Keith Walsh Joins AIG as Executive Vice President and Chief Financi...

Posted: Oct 03, 2024

Chris Caponigro Appointed as Head of Reinsurance Capital Management at AXA XL

Risk & Insurance

The latest people news in the industry today. The post Chris Caponigro Appointed as Head of Reinsurance Capital Management...

Posted: Oct 03, 2024

Paul Schultz Named Global Vice Chair of Reinsurance Solutions at Aon

Risk & Insurance

The latest people news in the industry today. The post Paul Schultz Named Global Vice Chair of Reinsurance Solutions at Aon app...

Posted: Oct 03, 2024

Hurricane Helene Exposes Federal Assistance Gap in Appalachian Areas

Carrier Management

Hurricane Helene Exposes Federal Assistance Gap in Appalachian Areas As residents of wes...

Posted: Oct 03, 2024

U.S. Could See Shortages, Higher Prices if Dockworkers Strike Drags On

Carrier Management

U.S. Could See Shortages, Higher Prices if Dockworkers Strike Drags On U.S. ports from Maine to Texas s...

Posted: Oct 03, 2024

Cyber Threats Top Business Concern in Travelers Canada Risk Index

Carrier Management

Cyber Threats Top Business Concern in Travelers Canada Risk Index Cy...

Posted: Oct 03, 2024

The Benefits and Challenges of the AI Revolution in Workers’ Compensation

Risk & Insurance

The future of workers’ compensation will depend on AI systems that operate on accurate data and are transparent in their recommendations. The post

Posted: Oct 03, 2024

Environmental Group Turns to Oyster Shells to Rebuild Sinking Louisiana Coastline

Insurance Journal

Jonathan Phillips says he thinks about Louisiana’s disappearing coastline every day. As a commercial fisherman and member of the Atakapa-Ishak/Chawasha tribe, he sees water levels rising in Plaquemines Parish firsthand. He grew up in Marrero bu...

Posted: Oct 03, 2024

Texas’ Abbott Touts Dallas Finance Hub as New Bourse Makes Hires

Insurance Journal

Texas Governor Greg Abbott said the upstart Texas Stock Exchange will help transform Dallas into the country’s top financial center and boost businesses’ access to capital. “Dallas, Texas, is already a massive financial center, but...

Posted: Oct 03, 2024

People Moves: Gillard Named President of AM Best Rating Services, Succeeding Mosher

Insurance Journal

AM Best, headquartered in Oldwick, New Jersey, named James A. Gillard Jr. as president of A.M. Best Rating Services, Inc., succeeding Matthew C. Mosher. Mosher is retiring as president and CEO, effective at the end of the year. Gillard most …

Posted: Oct 03, 2024

Appeal Delays $600M Class Action Settlement in Fiery Ohio Derailment

Insurance Journal

Settlement checks related to Norfolk Southern’s disastrous 2023 derailment could be delayed up to two years now because an appeal of a federal judge’s decision last week to approve the $600 million deal has been filed, lawyers in the case...

Posted: Oct 03, 2024

Brown & Brown Acquires Minnesota’s The Canopy Group

Insurance Journal

Brown & Brown announced the acquisition of the assets of The Canopy Group, a a multiline insurance agency focusing primarily on personal lines and commercial property and casualty for small businesses. Based in Le Sueur, Minnesota, The Canopy Gro...

Posted: Oct 03, 2024