All Posts

Secret Ratings Show US Regulator’s Concern on Banks’ Handling of Risks

Insurance Journal

A key US regulator has privately found half of the major banks it oversees have an inadequate grasp of a broad swath of potential risks from cyber attacks to employee blunders, according to people familiar with the matter. In the …

Posted: Jul 25, 2024

New Mexico Superintendent of Insurance Takes Issue with Ruling on Living Expenses

Insurance Journal

A Santa Fe District Court ruling that State Farm and Casualty Co. does not have to comply with a provision of the New Mexico Superintendent of Insurance emergency order for insurers to pay $5,000 in living expenses to policyholders forced …

Posted: Jul 25, 2024

A Guide to Healthcare Insurance: Part 1

Insurance Journal

This post is part of a series sponsored by PCF Insurance Services. In this first installment of a three-part series, PCF Healthcare Practice Leader Brian King examines the vital elements of medical malpractice insurance. As a PCF Healthcare Practice...

Posted: Jul 24, 2024

Can Climate Tech Save Insurance?

Insurance Thought Leadership

Can Climate Tech Save Insurance? Resilience & Sustainability ClareCarroll1

Posted: Jul 24, 2024

CrowdStrike Outage: 3 Takeaways for Independent Agents

IA Magazine

Last week's global tech outage highlights vulnerabilities in agency business continuity planning, cyber liability insurance, and technology partners.

Posted: Jul 24, 2024

Insurance and IT Outages: What Can We Do After the CrowdStrike Incident?

IIR

(Image credit: Shutterstock.) Early Friday morning, July 19, 2024, CrowdStrike’s IT infrastructure went down due to a defective software update, and brought many businesses’ systems down with it; the impact rippled across the world, grounding planes...

Posted: Jul 24, 2024

Liberty Mutual Names Julie Haase EVP and CFO

IIR

The company’s current Executive Vice President and Chief Financial Officer Chris Peirce will retire at the end of 2024.

Posted: Jul 24, 2024

Blink Parametric Launches Flight Disruption Solution with Heymondo

IIR

The solution will be underwritten by global insurance, reinsurance and services MAPRE subsidiary MAWDY.

Posted: Jul 24, 2024

Ivans Announces Latest Release of Distribution Platform

IIR

Enhanced carrier dashboards featured in the latest release increase visibility into agency submission trends and growth opportunities.

Posted: Jul 24, 2024

USAA announces updates to senior leadership team

coverager

Brett Seybold will replace Wallace as CFO.

Posted: Jul 24, 2024

Liiva platform to shut down tomorrow

coverager

By proactively managing climate risks, insurers can better navigate the complexities of a changing environment, ensuring resilience and sustainability for the future.

Posted: Jul 24, 2024

Nearly 1.5M Acres Burned This Year by Wildfires Across the U.S.

Carrier Management

Nearly 1.5M Acres Burned This Year by Wildfires Across the U.S. As of this morning, 88 large active wildfires...

Posted: Jul 24, 2024

Global Commercial Insurance Rates Stabilize in Q2 2024

Risk & Insurance

Marsh reports that global commercial insurance rates remain flat in Q2 2024, while U.S. rate hikes moderated to 1%. The post Globa...

Posted: Jul 24, 2024

Bregal Sagemount Basecamp announces investment in UCPM

coverager

UCPM Insurance is one of the largest environmental insurance wholesalers in the country.

Posted: Jul 24, 2024

Planning for the future: Building an agency succession plan

coverager

A comprehensive plan is critical to long-term success

Posted: Jul 24, 2024

Mosaic Insurance names Toby Smith as Americas CEO

coverager

Brett Seybold will replace Wallace as CFO.

Posted: Jul 24, 2024

Bug in Quality Control Process Led to Botched CrowdStrike Update

Carrier Management

Bug in Quality Control Process Led to Botched CrowdStrike Update A Crowd...

Posted: Jul 24, 2024

Survey Finds Nearly 75% of US Firms Developing DeepFake Response Plans

Carrier Management

Survey Finds Nearly 75% of US Firms Developing DeepFake Respo...

Posted: Jul 24, 2024

AM Best Withdraws Credit Ratings for Mt. Morris Mutual Following Downgrade

Insurance Journal

AM Best announced it has withdrawn credit ratings of Mt. Morris Mutual Insurance Company in Coloma, Wisconsin, less than a week after the credit rating agency downgraded the company’s ratings. AM Best said it withdrawn Mt. Morris’ ratings...

Posted: Jul 24, 2024

People Moves: Encova Insurance Names Shaver SVP, Small Business, and Lowe VP, Package Lines Underwri...

Insurance Journal

Encova Insurance, headquartered in Columbus, Ohio, named Michelle Shaver as senior vice president, small business, commercial lines, and Carrie Lowe as vice president, package lines underwriting. Shaver most recently was a small business leader for C...

Posted: Jul 24, 2024

S&P affirms SCOR’s ‘A+’ ratings with stable outlook despite L&H profit warning

Reinsurance News

Despite profit warning and a drop in capitalisation, S&P Global Ratings has affirmed its ‘A+’ long-term insurer financial strength and issuer credit ratings on SCOR SE and related core subsidiaries. The outlook remains stable. The...

Posted: Jul 24, 2024

Navy Veteran and Markel Executive Wendy Houser Shares Her Thoughts on Teamwork and Diversity in Insu...

Risk & Insurance

Markel executive Wendy Houser talks about how her experience in the military taught her the vital importance of teamwork. She believes the ranks of the military could provide the insurance industry with an invaluable pool of talent. The pos...

Posted: Jul 24, 2024

Acrisure appoints NYSE’s John Tuttle as President

Reinsurance News

Global insurance and reinsurance broking group Acrisure has appointed John Tuttle, currently Vice Chairman of the New York Stock Exchange (NYSE), as its new President, effective September 1st, 2024. Tuttle will relocate to Grand Rapids and report...

Posted: Jul 24, 2024

Carriers exposed to large enterprises most likely to face losses from IT outage: Parametrix CEO

Reinsurance News

Insurance carriers that have greater exposure to large enterprises are more likely to face the brunt of the losses stemming from the CrowdStrike linked IT outage, says Parametrix Insurance CEO, Jonathan Hatzor. According to the organisation, the e...

Posted: Jul 24, 2024

Jewelers Mutual acquires Union Life & Casualty Insurance Agency

coverager

Union Life & Casualty Insurance Agency has been in the insurance business since 1965.

Posted: Jul 24, 2024

Hiscox launches digital professional liability coverage for general and artisan contractors

coverager

Customers can obtain a quote online within five minutes.

Posted: Jul 24, 2024

John Tuttle appointed President of Acrisure

coverager

John Tuttle is currently Vice Chairman of the New York Stock Exchange.

Posted: Jul 24, 2024

Odie Pet Insurance partners with Insuritas

coverager

Customers of financial institutions using Insuritas' BUNDLE platform will be able to purchase pet insurance coverage from Odie.

Posted: Jul 24, 2024

BHP Must Stop Funding Legal Action to Halt Mariana Dam Claim, London Court Rules

Insurance Journal

BHP Group must stop funding legal action seeking to halt some Brazilian municipalities from bringing a multi-billion-pound claim over one of Brazil’s worst environmental disasters, London’s High Court ruled on Tuesday. More than 720,000 B...

Posted: Jul 24, 2024

Bridgehaven boosts capacity for OneAdvent MGA Criterion through new agreement

Reinsurance News

OneAdvent, a platform specialising in MGA services, has announced a new partnership between one of its Managing General Agents (MGAs) and the hybrid fronting insurer Bridgehaven Specialty UK Ltd. This collaboration will enable Bridgehaven to offer...

Posted: Jul 24, 2024

AGs in 14 States Want FHFA to Drop Plan to End Title Insurance Requirements

Insurance Journal

Attorneys general from 14 states, most of them in the South, are urging the Federal Housing Finance Agency to back off a pilot program that would remove age-old title insurance requirements from some home loans sold to Fannie Mae. “The …

Posted: Jul 24, 2024

The Connect Group Launches London-Based Specialty Reinsurer

Insurance Journal

The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd. (a specialist reinsurance MGA) to focus on i...

Posted: Jul 24, 2024

New London-Based Specialty Reinsurer, Stability Re, Launched

Insurance Journal

The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd. (a specialist reinsurance MGA) to focus on i...

Posted: Jul 24, 2024

Jewelers Mutual Acquiring Union Life & Casualty Insurance Agency in Arizona

Insurance Journal

Jewelers Mutual Group acquired Union Life & Casualty Insurance Agency in Phoenix, Arizona. JM Insurance Agency Partners Inc., a Jewelers Mutual Group company, will join with UL&C. UL&C has been in the insurance business since 1965, specia...

Posted: Jul 24, 2024

Wife of Ex-Texas Trucking Magnate Sentenced in $9M Work Comp Fraud Scheme

Insurance Journal

The wife of a former San Antonio trucking magnate was sentenced this month in a multi-million-dollar fraud scheme. Frances Hall, former co-owner of Bill Hall Jr. Trucking, was sentenced for her role in a scheme to avoid $9 million in …

Posted: Jul 24, 2024

Fortune 500’s Insured Losses for CrowdStrike Could Reach $1 Billion: Insurer Parametrix

Insurance Journal

U.S. Fortune 500 companies, excluding Microsoft, will face $5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday. CrowdStrike’s faulty update to its security software crashed computers powered...

Posted: Jul 24, 2024