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Hundreds of delivery drivers for e-commerce giant Amazon.com have joined the International Brotherhood of Teamsters, seeking improved wages, working conditions and safety standards, the labor union said on Monday. Workers across three Delivery Servic...
Posted: Sep 18, 2024
AT&T Inc. agreed to pay $13 million to settle an investigation by the US Federal Communications Commission into whether the telecommunications company failed to protect customer data that was stolen when a cloud vendor was hacked last year. The u...
Posted: Sep 18, 2024
Global reinsurance broker Gallagher Re estimates that the insured losses from the severe floods in central Europe, which occurred mainly from September 12-15, are likely to range between EUR 2.0 to 3.0 billion (USD 2.2 to 3.3 billion). A slow-movi...
Posted: Sep 18, 2024
The Awbury Group and Polo Managing Agency Ltd. have announced that Lloyd’s has granted “in principle” approval for Awbury Syndicate 2025 to commence underwriting from Jan. 1, 2025. Awbury Syndicate 2025 is focused on credit risks an...
Posted: Sep 18, 2024
The MEMIC Group, based in Portland, Maine, hired Scott Davis as a senior production underwriter overseeing the Virginia and District of Columbia territory. Davis, based in Virginia, joins MEMIC with over two decades of experience in multiline insuran...
Posted: Sep 18, 2024
Generali has reached an agreement to sell its 99.99% stake in its Turkish business, Generali Sigorta A.Ş., in a deal struck with four buyers in Turkey. Kiler Holding A.Ş. is buying a 42% stake in Generali Sigorta; Ekol Girişim Sermayesi …
Posted: Sep 18, 2024
With 134 buy-ins, the first half of 2024 has seen the largest ever number of buy-in transactions for a six-month period, compared to the 96 buy-ins that were completed during the same period in 2023, a recent analysis by Hymans Robertson has revea...
Posted: Sep 18, 2024
“It appears that the facultative reinsurance might be moving away from a hard market, but there are a number of global events that could happen between September and January which could heavily influence where the market is heading,” UIB CEO Shaun...
Posted: Sep 18, 2024
Russian insurers are playing a growing role facilitating the country’s oil shipments to India, its biggest buyer, data obtained from trade and shipping sources shows, helping to protect Moscow’s export revenue despite western sanctions. R...
Posted: Sep 18, 2024
AM Best has maintained a stable outlook for China’s non-life insurance sector, pointing to factors like a supportive regulatory environment, increased awareness of health insurance, and growth potential in the electric vehicle insurance market. Th...
Posted: Sep 18, 2024
Munich Re North America Life has launched a new longevity reinsurance offering which will reportedly allow clients to accumulate assets while transferring biometric risk. Munich Re North America Life includes Munich Re Life US and Munich Re, Canad...
Posted: Sep 18, 2024
According to Goldman Sachs, the market backdrop for property & casualty (P&C) reinsurance remains favourable, following rates hardening following the impact of Hurricane Ian, and 2023 seeing the strongest subsector return on equity’s...
Posted: Sep 18, 2024
Vortex Weather Insurance, a parametric weather insurtech, has announced an increased available limit of $500,000 for its parametric hurricane insurance, available to businesses along the Atlantic and Gulf Coasts. This type of insurance provides su...
Posted: Sep 18, 2024
Tracy Lee Kus, Head of Aon’s London-based Global Broking Centre, has joined the London Market Group (LMG) board as a representative of London & International Insurance Brokers’ Association (LIIBA). Kus, who has over three decades of experience...
Posted: Sep 18, 2024
Miami, FL., September 17, 2024 — Apex One Inspections & Surveys, a leading provider of home inspection and property survey services in both residential and commercial properties, is pleased to announce the expansion of its comprehensive home insp...
Posted: Sep 18, 2024
The London-domiciled global speciality distributor Amwins, has named Nick Abraham to succeed Nathan Mathis as Chief Executive Officer of its specialty distributor, Amwins Global Risks effective January 1st, 2025. Mathis, who has served in several...
Posted: Sep 18, 2024
AUSTIN, Texas September 18, 2024—Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, is announcing today that its board of directors voted unanimously to approve a $350 million dividend distrib...
Posted: Sep 18, 2024
Volunteers and emergency personnel worked through the night to fortify the Polish city of Wroclaw against approaching flood waters, while Hungary opened a dam as the prime minister warned a “crucial period” was approaching. The worst floo...
Posted: Sep 18, 2024
Volunteers and emergency personnel raced to secure river banks and buildings in Poland and Hungary on Tuesday as flood waters that have wreaked havoc across central Europe began to rise in new areas and the Czech Republic reported another death. R...
Posted: Sep 18, 2024
In a recent trading update, B.P. Marsh & Partners, the specialist investor in early stage financial services businesses, has revealed that as of July 31st, 2024 it had cash of £80.2 million. The firm also revealed that the current cash and tre...
Posted: Sep 18, 2024
Altea Insurance (Altea), a provider of combined insurance and risk management services for the medical, allied health, and care sectors, has announced its expansion into the European Economic Area (EEA). Launched last summer under the leadership o...
Posted: Sep 18, 2024
Posted: Sep 18, 2024
Moody’s RMS Event Response has disclosed an estimate for US private market insured losses from Hurricane Francine, which made landfall in Terrebonne Parish, Louisiana, on September 11th, 2024, of less than $2 billion. This estimate includes onshor...
Posted: Sep 18, 2024
IQUW, a property and specialty insurer and reinsurer, has appointed Peter Hearn as an Independent Non-Executive Director to the IQUW Holdings Bermuda Board. Hearn is an industry veteran with over four decades of experience in the global insurance...
Posted: Sep 18, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has appointed Kristof De Bremme as Chief Executive Officer (CEO) and President of Marsh McLennan, Belgium and Luxembourg, based in Brussels He succeeds Rebecca Tielemans and will report to Christos Ada...
Posted: Sep 18, 2024
Insurance Business Magazine - US
Posted: Sep 18, 2024
Canadian Finance Minister Chrystia Freeland on Monday announced changes to some mortgage rules as part of an effort to make housing more affordable, a critical political issue that has hurt Prime Minister Justin Trudeau and his Liberal government. Fr...
Posted: Sep 18, 2024
Floods across 14 central and West African nations have affected at least 4 million people — rendering many of them homeless — killed about 1,000 and are devastating crops in a region that’s already short of food and plagued by …
Posted: Sep 18, 2024
Floods in Africa that are displacing millions of people from Guinea on the west coast to the Central African Republic more than 2,000 miles to the east are prompting warnings of dam bursts and disease. In Chad, rising waters in …
Posted: Sep 18, 2024
AM Best, the global credit rating agency, has revised its outlook on Taiwan’s non-life insurance segment to stable from negative, following a recovery of capital strength among carriers in 2023 after suffering sizeable pandemic-related losses in t...
Posted: Sep 18, 2024
Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …
Posted: Sep 18, 2024
Recent data from the International Underwriting Association (IUA) shows that overall premium income for the London company market increased by approximately 10% in 2023, reaching £48.4 billion. This figure includes nearly £43 billion underwritten...
Posted: Sep 18, 2024
HDI Global, a provider of industrial insurance solutions, is addressing the rapid changes in the energy sector by creating a comprehensive Energy Unit, consolidating its expertise in managing energy-related risks. This move allows the company to s...
Posted: Sep 18, 2024
Analytics from Lex Machina 2024 Trade Secret Litigation Report reveals a rise in trade secret cases filed in federal district court in 2023, along with the continued steady trend of trade secret cases that involved Defend Trade Secret Act (DTSA) R...
Posted: Sep 18, 2024
Executive Summary: Artificial intelligence (AI) is on the brink of transforming most aspects of business, including insurance, but it needs to be used responsibly, according to Zywave Chief Technology Officer Doug Marquis, who takes a look at the som...
Posted: Sep 18, 2024
Chubb, AIG, and Amica lead other insurers in J.D. Power’s assessment of customer satisfaction for home insurance, but the consumer intelligence company said more people are shopping around. The good news for insurers is that only 2.2% actually...
Posted: Sep 18, 2024
IBM, a technology company, has filed an 8-K report outlining the transfer of a portion of its US defined benefit pension plan obligations to The Prudential Insurance Company of America, a provider of insurance and financial services. In recent yea...
Posted: Sep 18, 2024
State leaders tasked with reviewing Maine’s preparations and responses to climate change-fueled natural disasters are at a crossroads. While Maine has seen seven federal disaster declarations for severe storms and flooding in the past three yea...
Posted: Sep 18, 2024
State leaders tasked with reviewing Maine’s preparations and responses to climate change-fueled natural disasters are at a crossroads. While Maine has seen seven federal disaster declarations for severe storms and flooding in the past three yea...
Posted: Sep 18, 2024
Hawaii Employers’ Mutual Insurance Company Inc. is giving policyholders the largest dividend in the workers’ compensation carrier’s history. The HEMIC board of directors recently announced a $5 million dividend to qualifying policyh...
Posted: Sep 18, 2024
A U.S. Department of Labor investigation has recovered $77,206 in back wages for five workers employed on a federally funded construction project after finding one subcontractor failed to pay prevailing wages and fringe benefits and another submitted...
Posted: Sep 18, 2024
A Ridgefield, Washington cabinet company has been cited for numerous safety violations including unguarded saw blades, spraying flammable glue next to ignition sources and not taking steps to lock down dangerous machinery. The Washington State Depart...
Posted: Sep 18, 2024
Close attention through the claim life cycle ensures the best claimant outcomes. The post The Key Role of a Workers’ Comp Case Manager appeare...
Posted: Sep 17, 2024
This post is part of a series sponsored by Selectsys. Introduction In today’s data-driven world, the ability to quickly and accurately extract information from documents is crucial for the insurance industry. Manual data entry is not only time-...
Posted: Sep 17, 2024
The flagship product, LifeScore360, was a comprehensive mortality risk score offering detailed visualizations of contributing factors and suggested ranges for each risk class.
Posted: Sep 17, 2024