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Louisiana Insurance Commissioner Tim Temple is warning residents to be aware of contractor fraud following Hurricane Francine. Large storms events such as hurricanes provide an opening for dishonest services providers to take advantage of homeowners,...
Posted: Sep 16, 2024
The U.S. Environmental Protection Agency announced a settlement with Federal Cartridge Co. in Anoka, Minnesota, for alleged Clean Air Act violations. Federal Cartridge is one of the world’s largest manufacturers of sporting ammunition. EPA esti...
Posted: Sep 16, 2024
Privately insured losses from Hurricane Francine have been initially estimated as close to $1.5 billion, according to catastrophe risk modelling specialist Karen Clark & Company (KCC). Hurricane Francine, a Category 2 storm with sustained maxi...
Posted: Sep 16, 2024
Lillelund will join Allianz as the CEO of AGCS in early 2025.
Posted: Sep 16, 2024
The insurer ended the month with a combined ratio of 85.5% and net income of $835.3 million.
Posted: Sep 16, 2024
The new carrier is recognized as a leading specialty insurer with a dedicated focus on Excess D&O specialty programs.
Posted: Sep 16, 2024
Everest’s Bogotá office will provide a bespoke range of insurance products and risk solutions for key sectors including property, casualty, energy and financial lines.
Posted: Sep 16, 2024
Insurance Business Magazine - US
Posted: Sep 16, 2024
Insurance Business Magazine - US
Posted: Sep 16, 2024
PACE Southeast Michigan, a company providing all-inclusive care for the elderly, violated federal law at multiple locations in the Detroit area by failing to provide reasonable accommodations to employees with disabilities attempting to return to wor...
Posted: Sep 16, 2024
BISMARCK, N.D. (AP) — A Canadian man has pleaded guilty to federal crimes for shootings at electrical substations and an oil pipeline in the Dakotas that caused $1.7 million in damages. Cameron Monte Smith pleaded guilty Wednesday in U.S. District &#...
Posted: Sep 16, 2024
LITTLE ROCK, Ark. (AP) — A county in western Arkansas and a health provider have agreed to a $6 million settlement with the family of a man who died from dehydration and malnutrition while being held in a local jail, …
Posted: Sep 16, 2024
Cooler weather enabled firefighters to make progress over the weekend against three Southern California wildfires. Authorities have started scaling back evacuations at the largest blaze. The Bridge Fire east of Los Angeles has burned 54,690 acres, bu...
Posted: Sep 16, 2024
Specialty insurance firm Ryan Specialty has completed the acquisition of Ethos Specialty Insurance’s P&C managing general underwriters (MGUs) From Ascot Group Limited. Ryan Specialty had signed a definitive agreement to acquire these MGUs back...
Posted: Sep 16, 2024
Everest Insurance International has announced the launch of its new office in Bogotá, Colombia: Everest Compañía de Seguros Generales Colombia S.A., following regulatory approval from the Superintendencia Financiera de Colombia. This launch marks...
Posted: Sep 16, 2024
It looks like the market for directors and officers insurance is shifting, according to Woodruff Sawyer, with the number of renewals seeing flat or price increases for the first time in 18 months. Though 83% of its clients continued to …
Posted: Sep 16, 2024
How do you know if the doctor you are seeing (or are planning to see) is any good? Maybe you got a referral. Maybe you have “heard good things.” Maybe you have read some reviews online on Healthgrades or Google or Yelp. But what do we really learn...
Posted: Sep 16, 2024
Allianz has revealed that Thomas Lillelund will be joining Allianz Global Corporate & Specialty SE (AGCS) as CEO in early 2025. He will also reportedly assume leadership of Allianz Commercial, Allianz Group’s integrated global model for servin...
Posted: Sep 16, 2024
A Philadelphia Court of Common Pleas has upheld a Philadelphia jury’s $725.5 million verdict against ExxonMobil in a case of cancer linked to exposure to benzene, an ingredient in gasoline. The court denied ExxonMobil’s post-trial motions...
Posted: Sep 16, 2024
A potential tropical storm loomed off the coasts of the Carolinas Monday morning, with deteriorating conditions expected for the Wrightsville Beach and Wilmington areas. The National Weather Service and local news reports noted that the disturbance h...
Posted: Sep 16, 2024
A potential tropical storm loomed off the coasts of the Carolinas Monday morning, with deteriorating conditions expected for the Wrightsville Beach and Wilmington areas. The National Weather Service and local news reports noted that the disturbance h...
Posted: Sep 16, 2024
This edition of International People Moves details appointments at Allianz Global Corporate & Specialty SE (AGCS), The Ardonagh Group, and Carbon Underwriting. A summary of these new hires follows here. Lillelund Named CEO of AGCS and Allianz Com...
Posted: Sep 16, 2024
Florida and much of the country face a real estate crash unless government officials deal with climate change, members of Congress said at a roundtable discussion Saturday in St. Petersburg. U.S. Sen. Sheldon Whitehouse, D-R.I., chair of the Senate B...
Posted: Sep 16, 2024
Amphitrite Underwriting London, a marine specialist managing general agent (MGA), has received its final approval from Lloyd’s of London to become an approved coverholder. The MGA stated that securing the coverholder status represents a significan...
Posted: Sep 16, 2024
Buffett’s Insurance Leader Ajit Jain Sells Large Part of Berkshire Stake Ajit Jain, the longtime to...
Posted: Sep 16, 2024
Property Drives E&S Growth of 15%...
Posted: Sep 16, 2024
Berven says Nationwide takes long-term view on improving property resilience, preventing losses. The post
Posted: Sep 16, 2024
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Boston headquartered Liberty Mutual Insurance Group, has hired Manja Kollmann from Generali Germany as its new Chief Operating Officer (COO), based in London. In her new role, Kollmann has...
Posted: Sep 16, 2024
Elon Musk, owner of social media platform X, on Friday [Sept. 13] called Australia’s center-left government “fascists” over proposed legislation to slap fines on social media firms for failing to prevent the spread of misinformation...
Posted: Sep 16, 2024
The Lloyd’s Market Association (LMA) has launched a market-wide consultation on the new Computable Binding Authority Agreement (CBAA) model wording, developed with support from Lloyd’s, LIIBA, MGAA, and the IUA. The draft CBAA model wording...
Posted: Sep 16, 2024
Akur8, a machine learning-powered insurance pricing and reserving platform, has secured $120 million in series C funding which will significantly bolster the company’s capacity to broaden its product portfolio and drive its expansion within global...
Posted: Sep 16, 2024
Following meetings with executives at the recently held 2024 Rendez-Vous de Septembre (RVS) in Monte Carlo, analysts at KBW have reported that reinsurers remain positively disposed toward most specialty lines, which primarily reflects the rate ade...
Posted: Sep 16, 2024
In an interview with the Financial Times (FT), Joachim Wenning, CEO of global reinsurer Munich Re, described calls for property reinsurance rate cuts as “asymmetric”, suggesting that reinsurers will hold firm ahead of the 1.1 2025 rene...
Posted: Sep 16, 2024
If the ongoing impact of COVID-19 is not curtailed, excess mortality rates in the general population may remain up to 3% higher than pre-pandemic levels in the US and 2.5% in the UK by 2033, as per a report from the Swiss Re Institute. According t...
Posted: Sep 16, 2024
Britain’s data centers will be classified “critical national infrastructure,” the government said on Thursday [Sept. 12], giving the servers and IT systems that underpin the country’s communications extra protection from cyber...
Posted: Sep 16, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Chris Caponigro as Head of Reinsurance Capital Management. For over a decade, AXA XL has been an active participant i...
Posted: Sep 16, 2024
The European Union’s naval force said it managed to connect tug boats to a burning oil tanker in the Red Sea, and that the vessel is now being towed away. “The tug boats have successfully connected to the vessel and …
Posted: Sep 16, 2024
The strongest typhoon in more than seven decades has struck China’s financial hub, leading to widespread flight cancellations and disrupting holidaymakers at the start of a days-long national festival. Typhoon Bebinca — known as Beibijia in Chi...
Posted: Sep 16, 2024
According to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ), the remnants of Hurricane Debby, which hit southern Quebec on August 9-10, caused nearly $2.5 billion in insured damage, making it the costliest event in Queb...
Posted: Sep 16, 2024
This post is part of a series sponsored by Old Republic Surety. If you’re confused about the letter designations that stand for thousands and millions, you’re not alone. And it’s not your fault. In fact, it’s one of our most &...
Posted: Sep 16, 2024
The death toll from flooding in central Europe is climbing, with Poland preparing to declare a state of emergency. Storm Boris has brought torrential rain to the region, with red alerts still in place for parts of Austria, the Czech …
Posted: Sep 16, 2024
The death toll from flooding in central Europe is climbing, with Poland preparing to follow Austria in declaring a state of emergency. Storm Boris has brought torrential rain to the region, with red alerts still in place for parts of …
Posted: Sep 16, 2024
DUAL Europe has appointed Maria Borrego as Chief Underwriting Officer, reporting to Olaf Jonda, CEO of DUAL Europe. Based in Spain, Borrego will reportedly play a pivotal role in driving underwriting excellence for DUAL’s European clients. Accordi...
Posted: Sep 16, 2024