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Alera Group Acquires Louisiana’s Insurance Underwriters Ltd.

Insurance Journal

Alera Group announced the acquisition of Insurance Underwriters Ltd., a Louisiana-based insurance agency offering risk management and insurance solutions including business insurance, surety bonds, personal insurance and employee benefits. IUL provid...

Posted: Sep 26, 2024

Trial Begins Over Claims Newsmax Defamed Smartmatic in 2020 Election Reporting

Insurance Journal

A defamation trial against Newsmax Media kicks off on Thursday over allegations the conservative outlet damaged Smartmatic by broadcasting false claims that the voting machine company helped steal the 2020 U.S. presidential election from Donald Trump...

Posted: Sep 26, 2024

Update: Newsmax Settles Smartmatic Defamation Suit Over False Election Claims

Insurance Journal

Newsmax Media reached a confidential settlement of a lawsuit by Smartmatic, the voting machine maker that had alleged it was defamed by the news outlet’s false claims that its machines were rigged to help steal the 2020 U.S. presidential electi...

Posted: Sep 26, 2024

Xceedance Acquires Illinois’ Millennium Information Services

Insurance Journal

Xceedance announced it has acquired Millennium Information Services, a property inspection and data analytics company based in Chicago. With the acquisition, the Xceedance Americas team adds nearly 200 team members and a nationwide contractor network...

Posted: Sep 26, 2024

Ardonagh Marks Crucial Step Toward Completing A$2.3B Acquisition of Australia’s PSC

Insurance Journal

The Ardonagh Group, the London-based independent insurance distribution platform, announced that PSC Insurance Group Ltd.’s shareholders voted in favor of its proposed acquisition. The transaction, which is valued at A$2.3 billion (US$1.6 billi...

Posted: Sep 26, 2024

Intangic appoints Joshua Cryer as Director of Client Solutions

Reinsurance News

Intangic, a US-domiciled technology risk platform, has appointed Joshua Cryer as Director of Client Solutions. In his new role, Cryer’s remit includes being responsible for Intangic’s client solutions, he reports to Ryan Dodd, Founder and Ch...

Posted: Sep 26, 2024

GEICO Can’t Sue or Void Invoices from Auto Glass Shops, Florida Supreme Court Says

Insurance Journal

In the long war between auto insurers and windshield repair shops, the Florida Supreme Court this week sided with glass companies, leaving GEICO with little choice but to ask lawmakers to change the law if it feels repair prices have …

Posted: Sep 26, 2024

AM Best Revises Outlooks to Negative for Members of Coverys Companies

Insurance Journal

AM Best has revised the outlooks to negative from stable while affirming the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” (Excellent) of Boston-based Medical Professional...

Posted: Sep 26, 2024

Strategic Risk Solutions announces launch of SRS Italy

Reinsurance News

Strategic Risk Solutions (SRS), an independent insurance company manager globally, has announced the establishment of SRS Italy. Based in Milan, SRS Italy will be the first specialised provider of insurance management services specifically for cap...

Posted: Sep 26, 2024

AmTrust Title launches new residential title division

coverager

New division reflects the company’s commitment to strengthening its presence in the residential real estate market.

Posted: Sep 26, 2024

AXA launches heatwave insurance

coverager

Product is supported by the "robust" scientific climate models developed by AXA.

Posted: Sep 26, 2024

Bishop Street Underwriters invests in Verve Services

coverager

Verve was established in 2022 and is a team of ~13. 

Posted: Sep 26, 2024

California to launch nation's first public wildfire catastrophe model

coverager

Paul Scope has joined the company to serve as CEO of this entity.

Posted: Sep 26, 2024

AI Being Used to Scam Small Business Owners, Says Nationwide Survey

Insurance Journal

Just when employees have learned to ignore scammy texts and emails from the boss, along comes the next generation of impersonation using artificial intelligence. Cybercriminals increasingly use generative AI, including voice calls and video, to scam...

Posted: Sep 26, 2024

Acrisure opens Bermuda office, appoints Paul Scope as CEO

Reinsurance News

Global insurance broker Acrisure has expanded its operations with the opening of a new office in Hamilton, Bermuda, focusing on wholesale insurance broking for its global clients. This new capability, trading as Acrisure Bermuda Limited under the...

Posted: Sep 26, 2024

AI the biggest challenge facing digital health and wellness firms: Beazley

Reinsurance News

Beazley, the specialist insurer, has revealed AI to be the biggest challenge facing digital health and wellness firms globally as they ramp up its integration into their systems. Beazley’s Digital Health & Wellness 2024 report is a surve...

Posted: Sep 26, 2024

FTC Crackdown on Companies Using AI Includes ‘Robot Lawyer,’ Content Generator

Insurance Journal

As its authority is routinely questioned, the Federal Trade Commission has filed complaints against five companies it said use artificial intelligence (AI) to “supercharge deceptive or unfair conduct.” “Using AI tools to trick, misl...

Posted: Sep 26, 2024

Blin & Lambert join Descartes to enhance underwriting in new risk classes

Reinsurance News

Descartes has appointed Cyril Blin as Principal Underwriter, Technical Risks, and Benjamin Lambert as Senior Credit Underwriting Manager, Credit & Political Risk Insurance (Single Risk). According to the firm, the appointment of these two expe...

Posted: Sep 26, 2024

Britain Targets Russian LNG Sector With Fresh Shipping Sanctions

Insurance Journal

Britain on Thursday sanctioned five vessels and two associated entities involved in the shipping of Russian LNG, with the government saying it was using new legal powers for the first time to target LNG vessels directly. “Earlier this year, the...

Posted: Sep 26, 2024

Small Businesses Targeted By Surge in AI-Powered Scams

Risk & Insurance

Generative AI scams are becoming increasingly sophisticated, leaving small businesses vulnerable to financial and reputational damage, a Nationwide survey finds. The post

Posted: Sep 26, 2024

2024 disaster relief demand triggers first IFRC-DREF insurance payout

Reinsurance News

Demand for disaster relief has surpassed the ‘deductible’ threshold, triggering, for the first time, an insurance payout by the International Federation of Red Cross and Red Crescent Societies’ Disaster Response Emergency Fund (IFRC-DREF). The IFR...

Posted: Sep 26, 2024

Hurricane Helene Churns Toward Florida Coast as Large Storm

Carrier Management

Hurricane Helene Churns Toward Florida Coast as Large Storm Hurricane Helene pushed deeper in...

Posted: Sep 26, 2024

Acrisure Launches Bermuda Operation, Led by Industry Veteran Scope

Insurance Journal

Acrisure, the Grand Rapids, Michigan-based insurance broker and fintech specialist, has launched an office in Bermuda to focus on wholesale insurance broking for its global clients. Trading as Acrisure Bermuda Ltd., the new business unit aims to comp...

Posted: Sep 26, 2024

Paul Daniel to lead Dale’s Global Property Reinsurance business

Reinsurance News

Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has appointed Paul Daniel as Head of Global Property Reinsurance, effective October 28, 2024. In his new role, based in London, Daniel will be...

Posted: Sep 26, 2024

Alex Jones’ Infowars to Be Liquidated at Auctions to Pay Sandy Hook Families

Insurance Journal

Conspiracy theorist Alex Jones ‘ Infowars media platform and its assets will be sold off piece by piece in auctions this fall to help pay the more than $1 billion he owes relatives of victims of the Sandy Hook Elementary …

Posted: Sep 26, 2024

American Eagle Outfitters Sues Amazon for Infringing ‘Aerie’ Trademarks

Insurance Journal

American Eagle Outfitters sued Amazon.com on Wednesday, accusing it of intentionally infringing the clothing and accessories retailer’s “Aerie” and “Offline by Aerie” trademarks by directing customers to knock-off mercha...

Posted: Sep 26, 2024

West appoints Cai Xuanlun as new CEO of Hong Kong office

Reinsurance News

West P&I, a global insurance provider for the maritime and offshore industries, has announced the appointment of Cai Xuanlun (XL) as the new CEO of its Hong Kong office, effective December 2024. Xuanlun will take over from Richard Macnamara, w...

Posted: Sep 26, 2024

PRA outlines strategy to boost UK insurance competitiveness & attract investment

Reinsurance News

As the PRA marks the first anniversary of its Secondary Competitiveness and Growth Objective (SCGO), the regulator’s Director of Insurance Supervision, Shoib Khan, has highlighted a series of new initiatives designed to maintain trust in the...

Posted: Sep 26, 2024

Shell, Equinor, TotalEnergies Open CO2 Storage Facility in Norway

Insurance Journal

Shell, Equinor and TotalEnergies said on Thursday their carbon dioxide (CO2) storage project on Norway’s west coast is now completed and ready to receive CO2, with its first deliveries expected next year. Carbon capture and storage (CCS) has lo...

Posted: Sep 26, 2024

Ecuador Fires Threaten Wealthy Areas, Force President to Return Home

Insurance Journal

Wealthy neighborhoods in Quito remain under threat of flames, and schools have shifted to online teaching through the end of the week as firefighters battle forest fires in Ecuador’s capital. Quito Mayor Pabel Muñoz of the left-wing Citizen Rev...

Posted: Sep 26, 2024

Insurers could see limited impact from CE floods on P&C 2024 underwriting results: S&P

Reinsurance News

The impact of the floods resulting from Storm Boris in Central Europe on rated insurers’ property and casualty (P&C) underwriting performance will be manageable, S&P analysts expect. A slow-moving storm caused days of intense rainfal...

Posted: Sep 26, 2024

AXA enhances digital claims experience for customers

coverager

The digital claims tools are accessible to both customers and brokers.

Posted: Sep 26, 2024

Applied Systems to launch AI-powered renewals and prospecting solution

coverager

Solution meant for commercial risk profiles.

Posted: Sep 26, 2024

Hurricane Helene forecast to be a very large storm ahead of Cat 3 Florida landfall

Reinsurance News

Hurricane Helene is in the Gulf of Mexico with maximum sustained winds near 90 mph with higher gusts, and strengthening is expected as it heads towards Florida, currently forecast to make landfall on the Big Bend coast as a major Category 3 storm...

Posted: Sep 26, 2024

Resolution Re enters into third UK PRT reinsurance transaction

Reinsurance News

Resolution Re, the Bermudian reinsurance platform of global life insurance group, Resolution Life, has entered into a new UK Pension Risk Transfer (PRT) reinsurance deal with a leading UK-regulated insurer. Resolution Life’s other two transactions...

Posted: Sep 26, 2024

Markets/Coverages: Markel Expands Specialist Tech Insurance Offering in UK

Insurance Journal

Markel, the insurance operations within the Markel Group Inc., has launched an enhanced insurance proposition tailored to meet the evolving needs of the UK’s growing tech sector. The enhanced product, MarkelTech, is aimed at start-ups, small-an...

Posted: Sep 26, 2024

CFC expands global presence with opening of first office in Spain

Reinsurance News

CFC, an insurance provider and specialist in emerging risks and cyber insurance, has announced the opening of its first office in Spain. Following its expansion into North America and Australia earlier in 2024, the new Madrid office represents ano...

Posted: Sep 26, 2024

Crimes Against Customers: Part 3 – Technology Crimes

Insurance Journal

This post is part of a series sponsored by AgentSync. Insurance compliance is serious business. Falling out of compliance can have real consequences for everyone from insurance agencies, carriers, MGAs, and MGUs, to individual producers, adjusters, a...

Posted: Sep 26, 2024

Aurélien Sauty to lead Africa Specialty Risks’ new marine and aviation divisions

Reinsurance News

Africa Specialty Risks (ASR), the pan-African and Middle East-focused re/insurance group, has appointed Aurélien Sauty to lead its new Marine and Aviation divisions, as Head of Marine and Aviation. The appointment and strategic expansion further e...

Posted: Sep 26, 2024

PSC Insurance Group’s shareholders approve acquisition by Ardonagh

Reinsurance News

The shareholders of PSC Insurance Group Limited have approved Ardonagh’s proposed acquisition, as revealed by the independent insurance broking platform. Back in May, it was announced that Ardonagh had entered into a Scheme Implementation De...

Posted: Sep 26, 2024

A $9.5 Trillion Investor Group Unveils Milestone Emissions Cuts

Insurance Journal

Institutional investors holding a combined $9.5 trillion of assets say they’ve slashed portfolio emissions at a rate that aligns them with the goal of limiting global warming to the critical threshold of 1.5C. The Net-Zero Asset Owner Alliance,...

Posted: Sep 26, 2024

Fidelis Insurance promotes Aoife Woulfe to CUO, Ireland

Reinsurance News

Fidelis Insurance Group, the global specialty insurer, has promoted Aoife Woulfe to the role of Chief Underwriting Officer (CUO) of Ireland. Woulfe joined Fidelis in May of this year as Head of Underwriting, Ireland, after spending more than a dec...

Posted: Sep 26, 2024