All Posts

Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment

Insurance Journal

The landlord for a fire-damaged building leased to a Red Lobster restaurant is blaming the restaurant’s insurer for causing it to lose out on $1.2 million in fire insurance claims payments to repair the property. RL New Brunswick Owner LLC, &#8...

Posted: Sep 10, 2024

Coney Island’s Cyclone Roller Coaster Reopens 2 Weeks After Malfunction

Insurance Journal

The famed Cyclone roller coaster in New York City’s Coney Island has reopened two weeks after a mechanical problem forced a mid-ride stop and people had to be helped off the attraction. The 97-year-old wooden roller coaster at Luna Park …

Posted: Sep 10, 2024

An ESG Backlash Erupts in Europe on World’s Strictest Rules

Insurance Journal

For TotalEnergies SE Chief Executive Officer Patrick Pouyanne, the difference in the performance of his company’s stock and that of Exxon Mobil Corp., the largest US producer of oil and gas, is in no small part explained by an acronym: …

Posted: Sep 10, 2024

Baltimore Reaches $80 Million Settlement with Teva to Resolve Opioid Litigation

Insurance Journal

Mayor Brandon M. Scott announced that one week before its trial is to begin, the city has reached an $80 million settlement with Teva Pharmaceuticals to resolve the city’s claims over the firm’s role in fueling Baltimore’s opioid ep...

Posted: Sep 10, 2024

Update: Baltimore Reaches Opioid Litigation Settlements with Teva and Walgreens

Insurance Journal

Baltimore Mayor Brandon M. Scott announced yesterday that one week before a trial is to begin, the city reached an $80 million settlement with Teva Pharmaceuticals to resolve the city’s claims over the firm’s role in fueling Baltimore&#82...

Posted: Sep 10, 2024

Rokstone welcomes Ludo Araujo to D&F Property team

Reinsurance News

Rokstone, an international specialty re/insurance managing general agent (MGA) and part of Aventum Group, has appointed Ludo Araujo as Senior Underwriter for its Property D&F Division. Araujo will join Rokstone from Chaucer Syndicates, where h...

Posted: Sep 10, 2024

Toxic Debris from Hawaii Wildfire Could Fill 5 Football Fields 5 Stories Deep

Insurance Journal

Hinano Rodrigues remembers being 4 or 5 years old, carrying a bucket across a highway to the ocean in the Maui community where he still lives. At dawn, he would accompany his grandmother to a reef at low tide, where …

Posted: Sep 10, 2024

Wynn Resorts Paying $130M for Letting Illegal Money Reach Gamblers at Vegas Strip Casino

Insurance Journal

Casino company Wynn Resorts Ltd. has agreed to pay $130 million to federal authorities and admit that it let unlicensed money transfer businesses around the world funnel funds to gamblers at its flagship Las Vegas Strip property. The publicly traded...

Posted: Sep 10, 2024

Wynn Resorts Paying $130M for Letting Illegal Money Reach Gamblers at Vegas Casino

Insurance Journal

Casino company Wynn Resorts Ltd. has agreed to pay $130 million to federal authorities and admit that it let unlicensed money transfer businesses around the world funnel funds to gamblers at its flagship Las Vegas Strip property. The publicly traded...

Posted: Sep 10, 2024

Markets/Coverages: PURE Heads to Canada to Cover HNW Homes

Insurance Journal

Privilege Underwriters Reciprocal Exchange (PURE) is for the first time going international with an expansion into Canada. The reciprocal exchange will start serving high net worth clients in Ontario with homeowners insurance through select brokers....

Posted: Sep 09, 2024

Administrative Actions: What Are They and Who Do You Report Them to?

Insurance Journal

This post is part of a series sponsored by AgentSync. Insurance producers are expected to be upstanding citizens, and for good reason. They’re responsible for helping consumers select and purchase some of the most important products a person ca...

Posted: Sep 09, 2024

The Importance of Exceptional Service in New Business Acquisition and Retention

Insurance Journal

This post is part of a series sponsored by Selectsys. In the competitive world of insurance, exceptional service is not just a nice-to-have; it’s a necessity. From attracting new clients to retaining existing ones, the quality of service you pr...

Posted: Sep 09, 2024

And the Finalists Are....

Insurance Thought Leadership

And the Finalists Are.... PaulCarroll

Posted: Sep 09, 2024

Hurricane Forecast-Miss Taking Shape: Moody’s

Carrier Management

Hurricane Forecast-Miss Taking Shape: Moody’s Robert Muir-Wood, chief r...

Posted: Sep 09, 2024

Hagerty Renews Multi-Year Partnership with Agero

IIR

The renewed partnership enables Hagerty to continue bringing unmatched customer-focused experiences to Drivers Club members.

Posted: Sep 09, 2024

Assuria N.V. Accelerates Digital Transformation Equisoft’s Policy Admin System

IIR

Equisoft’s digital solutions provide the flexibility to launch new products quickly to respond to market changes and provide state-of-the-art agent and customer experience tools.

Posted: Sep 09, 2024

Akur8 Expands Core Capabilities with Strategic Acquisition of Arius Reserving Solution

IIR

Arius’s portfolio includes 150 insurance and consulting clients and over 1,500 users, with more than one third of these clients top-tier carriers in the U.S. and Canada

Posted: Sep 09, 2024

Lightning Strikes Twice

IIR

While the iPipeline outage didn’t have the global reach of a CrowdStrike, it had an outsized impact on L&A carriers who saw their new business operations shut down.

Posted: Sep 09, 2024

Chubb renews as official insurance sponsor of the US Open with multi-year agreement

coverager

Chubb and the USTA first partnered in 2020 and renewed during a record-setting 2024 US Open that for the first time surpassed one million attendees.

Posted: Sep 09, 2024

Lime partners with Mitsui Sumitomo Insurance

coverager

Lime officially launched in Japan last month.

Posted: Sep 09, 2024

Tropical Storm Francine Strengthens, Spurring Oil Shutdowns

Insurance Journal

Tropical Storm Francine strengthened as it moved north in the Gulf of Mexico, prompting oil drillers to evacuate crews and halt some offshore crude production, while the US Coast Guard warned shippers of approaching gale-force winds. Francine is expe...

Posted: Sep 09, 2024

Survey: Salary Budgets Grow at Record Pace

Carrier Management

Survey: Salary Budgets Grow at Record Pace Base salary budget increases for 2025 are projected to c...

Posted: Sep 09, 2024

Insurers, Brokers Expect Market to Close Cyber Insurance Gaps

Risk & Insurance

Surveys by APCIA and CIAB reveal cyber insurance market trends, challenges, and coverage gaps. The post Insurers, Brokers Expect Market to...

Posted: Sep 09, 2024

Hurricane-Damaged Louisiana Skyscraper is Finally Imploded, Highlighting Recovery Delays

Carrier Management

Hurricane-Damaged Louisiana Skyscraper is Finally Imploded, Highlighting Recovery Delays An abandoned,...

Posted: Sep 09, 2024

EU Climate Monitor Reports Summer 2024 Was World’s Hottest on Record

Carrier Management

EU Climate Monitor Reports Summer 2024 Was World’s Hottest on Record The world is e...

Posted: Sep 09, 2024

People Moves: Panos to Head Risk Strategies’ Chicago Office

Insurance Journal

Risk Strategies, headquartered in Boston, appointed Tom Panos as managing director of its Chicago office. Panos has over 15 years of experience in the insurance industry. He joined The Baldwin Group through its acquisition of Rosenthal Brothers in 20...

Posted: Sep 09, 2024

FedEx Sued for Violating Federal Law by Discriminating Against Minnesota Driver

Insurance Journal

The Federal Express Corporation (FedEx) violated federal law when it failed to provide reasonable accommodations for qualified, disabled ramp transport drivers with medical restrictions, and instead forced them to take unpaid leave or fired them, the...

Posted: Sep 09, 2024

People Moves: Lovett Joins Fideles Advisors as Chief Systems and Distribution Advisor

Insurance Journal

Lovett Joins Fideles Advisors as Chief Systems and Distribution Advisor Fideles Advisors, headquartered in San Antonio, Texas, appointed Tim Lovett chief systems and distribution advisor. Lovett’s expertise spans technology orientation and impl...

Posted: Sep 09, 2024

Legal System Abuse Hammers Truck Insurance

Insurance Journal

The U.S. trucking industry has been shaken to its foundations. A welter of external challenges catalyzed the failure of approximately 88,000 trucking firms in 2023. That is 10 percent of the nation’s trucking companies. The chief culprit was a...

Posted: Sep 09, 2024

NHTSA Probes 781,000 Newer Jeep Vehicles Over Fire Reports

Insurance Journal

A U.S. auto safety agency said on Monday it is opening an investigation into more than 781,000 newer Jeep Wrangler and Gladiator sport utility vehicles after reports of underhood fires under the hood. The National Highway Traffic Safety Administratio...

Posted: Sep 09, 2024

Robin Cooper-Driver & Edward Rayfield join Zurich’s APAC Commercial Insurance unit

Reinsurance News

Zurich Insurance Company has announced two key appointments to its Asia Pacific (APAC) Commercial Insurance business, with Robin Cooper-Driver as new Head of Financial Lines, Asia Pacific, and Edward Rayfield as Head of Casualty, Asia Pacific. Bot...

Posted: Sep 09, 2024

Akur8 acquires Arius

coverager

The Arius software helps insurers manage risk and improve financial performance.

Posted: Sep 09, 2024

Sigo Seguros raises $10.5 million

coverager

The Austin-based startup targets immigrants and working-class communities.

Posted: Sep 09, 2024

Coalition introduces Coalition Re

coverager

Chubb and the USTA first partnered in 2020 and renewed during a record-setting 2024 US Open that for the first time surpassed one million attendees.

Posted: Sep 09, 2024

Summer 2024 Was World’s Hottest on Record: EU Climate Change Monitor

Insurance Journal

The world is emerging from its warmest northern hemisphere summer since records began, the European Union’s climate change monitoring service said on Friday, as global warming continues to intensify. The boreal summer of June to August this yea...

Posted: Sep 09, 2024