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German authorities have rejected €18 million ($20 million) worth of carbon credits after finding “irregularities” in China-based projects that were meant to lower emissions. The initiatives, which were run by big international corporation...
Posted: Sep 06, 2024
Global insurance and reinsurance broking group Aon has expanded its Bermuda reinsurance platform to enhance transactional and capital optimisation solutions and support profitable growth opportunities for clients. Aon has added five new members to...
Posted: Sep 06, 2024
A U.S. appeals court sided with four major book publishers that accused the nonprofit Internet Archive of illegally scanning copyrighted works and lending them to the public online for free and without permission. The 2nd U.S. Circuit Court of Appeal...
Posted: Sep 06, 2024
The cyber insurance market is poised for significant growth over the next several years as cyberattacks continue to grow in number and sophistication, with the potential to cause major financial and reputational damage and disrupt business operati...
Posted: Sep 06, 2024
New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition. The report laid out dozens of potential financial improprieties...
Posted: Sep 06, 2024
Royal Bank of Canada’s former chief financial officer, fired over allegations she had an undisclosed personal relationship with another executive, said the bank was trying to “manufacture” a reason to get rid of her, as both sides d...
Posted: Sep 06, 2024
Sun Life Malaysia has adopted Munich Re Automation Solutions’ software-as-a-service (SaaS) underwriting solution to streamline the underwriting process and enhance its customer experience. This partnership will provide Sun Life Malaysia with a cut...
Posted: Sep 06, 2024
Global life and health reinsurer Pacific Life Re has partnered with the Financial Services Skills Commission (FSSC) to ensure the financial services sector is prepared for long-term skills needs; becoming the first dedicated reinsurance firm to jo...
Posted: Sep 06, 2024
Global insurer AXA has announced the appointment of Guy Van Hecke as the new Head of Ceded Reinsurance for AXA, succeeding Guillaume Lejeune. Van Hecke, who is currently Head of Ceded Reinsurance at AXA XL, a division of AXA, will continue in this...
Posted: Sep 06, 2024
According to a recent report by AM Best, reinsurance companies in the Asia-Pacific region experienced a sharp increase in their return on equity, rising to 9.2% from 0.1% under IFRS 17, which was driven by improved investment conditions and a rela...
Posted: Sep 06, 2024
Now that the market has achieved a first-half profit of £4.9 billion with a combined ratio of 83.7—its best interim results in 17 years—does this mean the hard market cycle is ending? During a media briefing to discuss Lloyd’s results, …
Posted: Sep 06, 2024
This year is on track to surpass 2023’s record weather-related losses for U.S. homeowner insurers, posing challenges in estimating catastrophe risk charges, according to S&P Global Ratings. U.S. homeowner insurers have faced several years of u...
Posted: Sep 06, 2024
Insurance Business Magazine - US
Posted: Sep 06, 2024
From thoughtful education programs to on-site health clinics and everything in between, employers are working to support the health of their people in every way possible. The post
Posted: Sep 06, 2024
Chaucer, the global specialty re/insurance firm, has announced the appointment of industry veteran Angus Milgate as Head of Distribution. Milgate will join the company in October and will report to Nicola Stacey, Chief Underwriting Officer at Chau...
Posted: Sep 06, 2024
Brit Ltd, the global specialty re/insurer and subsidiary of FairFax Financial Holdings Limited, has posted an undiscounted combined ratio of 80.5% for the first half of 2024, representing an improvement from the prior year’s 82.3%. At the sa...
Posted: Sep 06, 2024
The Demex Group, a technology-enabled managing general agent (MGA), has raised $10.25 million through a Series A and previously closed SAFE funding round for its breakthrough weather- and climate-related reinsurance solution. Demex delivers an inn...
Posted: Sep 06, 2024
Insurance and reinsurance broker McGill and Partners has appointed Nick Williams-Walker as the Group Chief Operating Officer (COO), effective September 23rd, 2024. Williams-Walker succeeds Stephen Cross, who has been the firm’s acting Group COO si...
Posted: Sep 06, 2024
The UK and US Pension Risk Transfer (PRT) markets are experiencing exceptionally strong demand, with insurers expected to secure over £250 billion in combined volumes over the next three years, according to Legal & General. The latest edition...
Posted: Sep 06, 2024
AM Best reports that the U.S. and Bermuda reinsurance composite is maintaining its positive momentum and is set to continue its strong performance from 2023 into 2024. The U.S.-Bermuda composite recorded its third consecutive year of improved unde...
Posted: Sep 06, 2024
IRIS leverages data and adds predictive science to mitigate risk for commercial property carriers Yorba Linda, CA; September 06, 2024—Jetfile, a leading provider of insurance management solutions, today announced a strategic partnership with Aviana t...
Posted: Sep 06, 2024
IRIS leverages data and adds predictive science to mitigate risk for commercial property carriers Yorba Linda, CA; September 06, 2024—Jetfile, a leading provider of insurance management solutions, today announced a strategic partnership with Aviana t...
Posted: Sep 06, 2024
From leadership commitment to whole-person care, these award-winning organizations are reshaping industry standards for injury prevention and workforce care. The post
Posted: Sep 06, 2024
RGL Logistics, a nationwide transportation and logistics company located in Green Bay, Wisconsin, faced significant challenges with workplace injuries and high workers’ compensation costs. The company was unable to obtain traditional workers...
Posted: Sep 06, 2024
Total Productive Staffing (TPS), doing business as Coast Personnel Services, is a temporary staffing agency that has made significant strides in improving workplace safety for its associates. Recognizing that temporary employees are their most val...
Posted: Sep 06, 2024
AAA Northeast, a regional auto club offering emergency road service, travel, insurance and financial services, has made the safety of its employees a top priority. With over 3,500 employees across six states, the company faced challenges in reduci...
Posted: Sep 06, 2024
NANA Management Services (NMS), with over 2,000 employees primarily based in Alaska, faces unique challenges in ensuring workplace safety and employee care across its diverse operations. From security and facilities management to food services and...
Posted: Sep 06, 2024
AAA Northeast — a regional auto club offering emergency road service, travel, insurance and financial services — has made the safety of its employees a top priority. With over 3,500 employees across six states, the company faced challenges in redu...
Posted: Sep 06, 2024
When Bill Martin joined Worldwide TechServices in 2012, the company faced significant safety challenges across its on-site IT management, repair and field services divisions. Workers’ compensation claims and workplace injuries were far too c...
Posted: Sep 06, 2024
The Virginia Automobile Dealers Association Group Self-Insurance Association (VADA-GSIA) provides workers’ compensation insurance and services to over 400 car and truck dealerships throughout Virginia, covering 20,000 employees. Facing diver...
Posted: Sep 06, 2024
Fiserv, a Fortune 500 company and global leader in payments and financial technology, faced significant challenges with its workers’ compensation program. Historically managed as a holding company of numerous business units acquired through...
Posted: Sep 06, 2024
Albuquerque Public Schools (APS), the largest school district in New Mexico, faced a significant challenge with outdated job descriptions that lacked specific physical demands for essential job functions. This ambiguity created uncertainty for bot...
Posted: Sep 06, 2024
Global ratings agency Moody’s Ratings has affirmed the A1 insurance financial strength ratings (IFSR) of French reinsurer SCOR and its key operating entities, with the outlook on all retained at stable. Simultaneously, all debt ratings were also a...
Posted: Sep 06, 2024
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate of €1.590 million for the floods in southern Germany from 31st May to 6th June 2024. This compares to the initial loss estimate of €1.568 milli...
Posted: Sep 06, 2024
For INS Insurance Inc., a captive insurer of Schneider National, managing workers’ compensation claims for an aging nationwide workforce amid pandemic-related supply chain disruptions was no easy task. The company also grappled with leveragi...
Posted: Sep 06, 2024
INS Insurance Inc., a captive insurer of Schneider National, faced significant challenges in managing workers’ compensation claims for an aging nationwide workforce amid pandemic-related supply chain disruptions. The company also grappled wi...
Posted: Sep 06, 2024
The Home Depot, a leader in the home improvement retail industry, faced a significant challenge in its Tool Rental Centers. In 2016, an in-depth analysis revealed that 57.4% of injuries in these centers were due to overexertion, often resulting in...
Posted: Sep 06, 2024
Bar Bakers LLC, a contract manufacturer of baked goods in the natural and organic markets, has experienced remarkable growth over the past four years, doubling its employee base and seeing an eightfold increase in payroll. As a large co-packer of...
Posted: Sep 06, 2024
Orange County, North Carolina, faced a significant challenge in managing workplace injury claims across its diverse departments and locations. With hundreds of potential incident sites spread across the county and operating around the clock, timel...
Posted: Sep 06, 2024
Euclid Transactional, a managing general agent (MGA) specialising in transactional insurance underwriting and claims handling, has launched its new Asia Pacific (APAC) division. Headquartered in Singapore, the APAC programme will be led by Alice H...
Posted: Sep 06, 2024
[insert dek here] The post 2024 Theo Award Winner: Greater Omaha Packing appeared first on Risk & Insurance
Posted: Sep 06, 2024
Discount Tire, a leading tire and wheel retailer and service provider, has built its success on a foundation of exceptional customer service. This commitment extends beyond its retail operations to encompass the care and support of its own employe...
Posted: Sep 06, 2024
Annuities sales in the United States have reached their highest levels, surpassing all previous records, with the United Kingdom experiencing a similar trend in life-saving product sales, following a similar trajectory, Swiss Re has revealed. This...
Posted: Sep 06, 2024
Fitch Ratings Shifts Global Re Outlook to Neutral; Pricing...
Posted: Sep 06, 2024
Newline Group, a specialty insurance provider, has announced the launch of a new office in Manchester, reinforcing its ongoing dedication to brokers and clients in the UK’s regional market. This Manchester location is the company’s sec...
Posted: Sep 06, 2024
Sapiens International Corporation, a provider of software solutions for the insurance industry, has announced a new partnership with Addresscloud, a cloud-based location intelligence firm. This collaboration aims to enhance insurers’ ability...
Posted: Sep 06, 2024