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Containment has increased on a fire that exploded in size and in a few days became California’s sixth largest wildfire, destroying hundreds of structures. The Park Fire near Chico, California, has burned 383,619 acres and as of Tuesday morning...
Posted: Jul 30, 2024
Michigan-headquartered Highstreet Insurance Partners, a rapidly growing, multistate insurance agency, has added to its Florida presence with the acquisition of Flagler Insurance Agency, based in Palm Beach, Florida. The terms of the deal were not rep...
Posted: Jul 30, 2024
Michigan-headquartered Highstreet Insurance Partners, a rapidly growing, multistate insurance agency, has added to its Florida presence with the acquisition of Flagler Insurance Agency, based in Palm Beach, Florida. The terms of the deal were not rep...
Posted: Jul 30, 2024
The majority of respondents to a recent Reinsurance News poll believe the total re/insurance industry loss from the CrowdStrike-linked IT outage will surpass $1 billion, with 38% of voters anticipating that losses could exceed $1.5 billion. Accord...
Posted: Jul 30, 2024
A unit of AXA Investment Managers has agreed to acquire a minority stake in Rivage Investment, a specialist private credit firm focused on infrastructure debt that oversees more than €7.7 billion ($8.3 billion) in committed capital. AXA IM Prime, as...
Posted: Jul 30, 2024
Resilience and optimism is what has characterised the renewable energy sector, despite climate issues, supply chain disruption, casualty deterioration, social inflation and geopolitical conflicts, according to a recent report by WTW. However, over...
Posted: Jul 30, 2024
Researchers are constantly developing innovative technologies to aid in loss prevention when disaster strikes. Let’s explore some of the most unique tools out there.
Posted: Jul 30, 2024
Nationwide Plans 5% Reduction in Employee Headcount Nationwide said late last week that it is reducing its he...
Posted: Jul 30, 2024
HDI Global SE has received a regulatory license from Dubai Financial Services Authority (DFSA) to open an office in Dubai. The new local presence in Dubai International Financial Centre (DIFC) will allow HDI Global to bring its global financial stren...
Posted: Jul 30, 2024
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), announced on July 26 that it has closed a $60 million Series C equity investment from Zurich Insurance Group, a global multiline insurer. “This investment fro...
Posted: Jul 30, 2024
Swiss Re’s latest US economic forecasts predict steady global GDP growth and decreasing inflation, but evolving risks could disrupt this outlook, prompting the firm to update its three alternative economic scenarios to reflect current global condi...
Posted: Jul 30, 2024
The successful passage of a package of bills designed to reform Louisiana’s property insurance market is a key step towards restoring confidence in the state, and according to Insurance Commissioner Tim Temple, there’s more to come. It was announc...
Posted: Jul 30, 2024
Greggs plc Pension Trustees Limited, the Trustee of the Greggs plc 1978 Retirement and Death Benefit Scheme, has completed a £100 million bulk annuity agreement with Aviva, an insurance and financial services provider, which covers most of the Sch...
Posted: Jul 30, 2024
Worldlink Specialty has partnered with Oneglobal Broking to introduce “AeroPRO,” a comprehensive professional liability insurance solution tailored for the US aviation and aerospace sector. AeroPRO, supported by Lloyd’s of London marke...
Posted: Jul 30, 2024
1970 Group, the specialised risk financing provider for the insurance sector, has secured a growth capital investment from Bain Capital Insurance, the insurance investing unit of Bain Capital, in a move that is set to support the firm’s cont...
Posted: Jul 30, 2024
Gallagher has appointed Aldo Borsani as the Head of Cyber for Europe, where he will enhance the firm’s products and services, collaborate with existing clients and teams across Europe, and lead new business growth. Borsani brings nearly ten...
Posted: Jul 30, 2024
Injured Minnesota employees who seek services from the Department of Labor and Industry’s Vocational Rehabilitation unit (VRU) while their disputed workers’ compensation claim goes through the litigation process will soon face new eligibi...
Posted: Jul 30, 2024
South Africa dispatched crews to contain an oil spill from a cargo vessel that ran aground earlier this month because of extreme weather conditions. Strong waves eroded the hull of the 125-meter (410-foot) MV Ultra Galaxy, which beached at Brand R...
Posted: Jul 30, 2024
Global insurance group Enstar has reported net earnings of $126 million for the second quarter of 2024, a substantial increase from $21 million in Q2 2023. The company’s return on equity (ROE) improved to 2.5% this quarter, compared to 0.5%...
Posted: Jul 30, 2024
BevCap Management, LLC, headquartered in McKinney, Texas, hired Danny Vehovic as vice president of dealer risk services. Vehovic will be focusing on risk consulting and business development for Dealer Management Group, a homogeneous group captive for...
Posted: Jul 30, 2024
Global reinsurance giant Swiss Re has promoted Nicole Fera to lead its Regional 1 Reinsurance market division in the United States. Fera is an experienced reinsurance industry professional, having spent over 16 years at Swiss Re. As the Head of Re...
Posted: Jul 30, 2024
Andy Foot has joined Howden Re as Managing Director, Marine, Energy & Terror Treaty, where he will focus on the London and US markets including the placement of consortia and binders. Foot joins Howden Re from Aon, where he spent over two deca...
Posted: Jul 30, 2024
Twice in less than two weeks, federal workplace safety inspectors found an Indiana contractor exposing employees to deadly risks of falls from elevation while they did framing work at two homes under construction in Perrysburg, Ohio Inspectors with t...
Posted: Jul 30, 2024
Reviewing buying activity from January through July 2024, Guy Carpenter has estimated that approximately $35 billion – $40 billion of additional property catastrophe limit has been purchased worldwide, driven by favourable conditions. Accord...
Posted: Jul 30, 2024
Torrential rain and floods killed four people and spurred the evacuation of thousands from homes in China’s southern province of Hunan, lashed by record rainfall from the remnants of Typhoon Gaemi, state media said on Tuesday. Days of heavy rai...
Posted: Jul 30, 2024
SCOR SE reported its first quarterly loss since 2022, delivering a setback to Chief Executive Officer Thierry Leger. The Paris-based reinsurer posted a loss of €308 million ($333 million) in the three months through June, missing analyst estimates. T...
Posted: Jul 30, 2024
Consumers cannot expect boneless chicken wings to actually be free of bones, a divided Ohio Supreme Court ruled last week, rejecting claims by a restaurant patron who suffered serious medical complications from getting a bone stuck in his throat. Mic...
Posted: Jul 30, 2024
Crude oil pipelines connecting the busiest Texas oil fields to a critical export hub across the state are nearly out of space, threatening to cap US oil exports at a time when the world needs more. Key pipelines that transport …
Posted: Jul 30, 2024
French reinsurer SCOR has fallen to a net loss of €308 million for the second quarter of 2024 as a result of the previously announced Life & Health (L&H) assumption review, which more than offset a solid performance in its Property & C...
Posted: Jul 30, 2024
RSA Insurance, a global insurer, is pleased to announce the immediate appointment of Damian Cannings as the new Regional Manager for Bristol. Damian will report to Deena Hemming, Trading Director – South, and will spearhead initiatives to in...
Posted: Jul 30, 2024
Australia’s plans to introduce stringent rules on climate disclosures are driving up concerns among businesses about compliance in one of the world’s biggest per-capita emitters. More than 6,000 companies including listed and unlisted fir...
Posted: Jul 30, 2024
As per Fitch Ratings, non-life insurance premium rates are showing different trends across numerous European markets, following the rating agency’s mid-year review of insurance sector outlooks. According to Fitch, non-life insurers have been...
Posted: Jul 30, 2024
Personal lines insurance comparison site The Zebra said it has acquired Marble, a digital platform for managing and saving on insurance. The acquisition is effective as of July 25, 2024. Terms of the deal, the first in The Zebra’s 12-year ̷...
Posted: Jul 30, 2024
The average price for directors & officers liability insurance decreased 5.2% per $1 million in limits in the second quarter, according to Aon Commercial Risk Solutions. Aon said the decrease compared to the same quarter in 2023 was the ninth ...
Posted: Jul 30, 2024
Insurer Nationwide said late last week that it is reducing its headcount by about 5% over the next year. “We can’t speculate on the total number of job impacts,” said Nationwide in a statement. “Eligible associates are able to...
Posted: Jul 30, 2024
Confie, a California-based personal lines distributor, has acquired three insurance agencies in the South, the firm said last week. Affordable Insurance in Hendersonville, North Carolina; US1 Insurance in Miami; and Bridgepoint Insurance in McAllen,...
Posted: Jul 30, 2024
State utility regulators have filed a complaint against a natural gas provider alleging safety violations in connection with an explosion in a central Pennsylvania borough that killed one person and injured several others three years ago. The 22-coun...
Posted: Jul 30, 2024
Decades of snuffing out fires at the first sign of smoke combined with climate change have laid the groundwork for a massive wildfire in northern California and scores of smaller ones across the western U.S. and Canada, experts say. These …
Posted: Jul 30, 2024
The California workers’ compensation system has been relatively stable in the post-pandemic era, as premium levels rose by 1% in 2023 and are forecast to increase modestly in 2024—while decreases in average insurer charged rates are moderating,...
Posted: Jul 30, 2024
A tornado that hit this small, upstate city tore off rooftops, leveled brick buildings and toppled the steeples of two historic churches. No one was killed, but the twister left a debris-strewn scar through downtown and nearby areas. More than …...
Posted: Jul 30, 2024
A tornado that hit this small, upstate city tore off rooftops, leveled brick buildings and toppled the steeples of two historic churches. No one was killed, but the twister left a debris-strewn scar through downtown and nearby areas. More than …...
Posted: Jul 30, 2024
NTT DATA UK&I, an IT services provider and consultant for the insurance industry, has announced a new partnership with iPipeline, a provider of digital solutions for the life insurance, pensions, savings, and investments markets in the UK. Thi...
Posted: Jul 30, 2024
This post is part of a series sponsored by AgentSync. As catastrophic natural disasters continue to wreak havoc on the property and casualty (P&C) insurance sector, loss prevention remains a high priority for insurers and property owners alike. L...
Posted: Jul 29, 2024
This post is part of a series sponsored by Dyad. In the dynamic world of insurance, staying ahead of the curve is paramount. With the advent of Artificial Intelligence (AI), players in insurance are experiencing a transformational shift in how …...
Posted: Jul 29, 2024
A Lesson for Insurance From the Olympics PaulCarroll
Posted: Jul 29, 2024