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Insurance Business Magazine - US
Posted: Jul 23, 2024
Taiwan's recent earthquake showed how investing in disaster prevention measures can save lives and reduce property damage when disaster strikes.
Posted: Jul 23, 2024
Insurance Business Magazine - US
Posted: Jul 23, 2024
The first fund was launched in 2015.
Posted: Jul 23, 2024
PropanePro will be available in over 35 states.
Posted: Jul 23, 2024
HEVI customers will be able to purchase an Assurant Extended Service Contract.
Posted: Jul 23, 2024
District Cover is a small business insurance broker.
Posted: Jul 23, 2024
Strategic acquisition to significantly expand and accelerate the delivery of AI capabilities across Applied’s global product portfolio CHICAGO – July 23, 2024 – Applied Systems (“Applied”) today announced that it...
Posted: Jul 23, 2024
S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. According to the analysis, private passen...
Posted: Jul 23, 2024
Carbon Underwriting Limited (Carbon), an independent managing general underwriter and Lloyd’s syndicate CBN 4747, has announced that Lloyd’s, the insurance and reinsurance market, has granted approval for the launch of Syndicate 5757, effective 1...
Posted: Jul 23, 2024
Hub International Ltd., a global insurance brokerage and financial services firm, has acquired Wade Associates, an independent agency with offices in North Carolina. Wade has specialized in property/casualty insurance for construction, manufacturing,...
Posted: Jul 23, 2024
The DICK’s Sporting Goods Open, PGA TOUR Champions Event received rain from June 21–June 23, triggering their parametric rainfall insurance policy with Vortex Weather Insurance, the data driven weather risk insurtech, which resulted in the t...
Posted: Jul 23, 2024
Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if something goes wrong, a key provider of cover said. Moscow-based Ingosstrakh PJSC has emerged of a major insurer to Russian ...
Posted: Jul 23, 2024
Whole Foods has reached an agreement to settle a lawsuit accusing it of illegally firing a worker who refused to remove her Black Lives Matter facemask and complained about racism at the Amazon.com-owned upscale grocery chain. A lawyer for Whole R...
Posted: Jul 23, 2024
A Southern California fire destroyed six homes and damaged seven others in a blaze that was reportedly ignited by fireworks. The Hawarden Fire started over the weekend and at one point threatened nearly 1,500 homes. Evacuation orders were issued for...
Posted: Jul 23, 2024
A Southern California fire destroyed six homes and damaged seven others in a blaze that was reportedly ignited by fireworks. The Hawarden Fire started over the weekend and at one point threatened nearly 1,500 homes. Evacuation orders were issued for...
Posted: Jul 23, 2024
The CrowdStrike outage is a wake-up call for the systemic exposure that exists around technology, but it will prove manageable for the insurance and reinsurance industry, W. Robert Berkley, Jr., President and CEO of W. R. Berkley stated as he shar...
Posted: Jul 23, 2024
CRC Group, headquartered in Birmingham, Alabama, named Brent Tredway as sole president of the brokerage division and Chris Carlson as chief operating officer of CRC’s Commercial Solutions Division. Since 2020, Tredway has led the brokerage divi...
Posted: Jul 23, 2024
Martello Re Limited, the Bermuda-based Class E life and annuity reinsurer, has successfully raised $1.3 billion across a second round of equity funding and the upsizing of its current credit facility, enabling the firm to provide support to additi...
Posted: Jul 23, 2024
Project 2025 Plan to End NFIP Welcomed by Some, Rejected by Others in Insurance A plan by a politic...
Posted: Jul 23, 2024
Trigger Warning: Cyber Policy Wordings to Impact Coverage for Tech O...
Posted: Jul 23, 2024
Carbon Underwriting Ltd., the London-based managing general underwriter and Lloyd’s syndicate CBN 4747, announce that Lloyd’s has granted in principle approval for the launch of Syndicate 5757, effective Jan. 1, 2025. This marks a signifi...
Posted: Jul 23, 2024
The Department of Labor announced the signing of a conciliation agreement with State Street Corp. in which the financial services firm will allocate $4.2 million for future pay adjustments to resolve alleged compensation discrimination. The departmen...
Posted: Jul 23, 2024
DUAL, the specialist underwriting arm of Howden Group Holdings, has announced the appointment of Marilena Rodriguez Forero as CEO for its newly established region, DUAL Latin America, effective 1 August 2024. Rodriguez Forero brings over three dec...
Posted: Jul 23, 2024
Markel, a global specialty insurer, and MEA, an AI-driven platform for insurers, have announced a new strategic partnership, leveraging MEA’s GenAI solution to enhance its underwriting processes in International Wholesale operations. Martin Henle...
Posted: Jul 23, 2024
Cybersecurity startup Wiz Inc. has turned down a takeover bid of as much as $23 billion from Alphabet Inc.’s Google, sticking instead with a plan for an initial public offering. The rejection will come as a blow to Google, which …
Posted: Jul 23, 2024
Brown & Brown, the insurance brokerage, has reported its results for the second quarter of 2024, which includes a net income of $257 million, representing a substantial increase from the previous year’s $190 million. At the same time, re...
Posted: Jul 23, 2024
Britain’s Environment Agency on Tuesday lambasted the country’s water companies for spewing sewage into rivers and seas, saying the majority of them were failing to get the basics right, as it outlined plans for a tougher regulatory appro...
Posted: Jul 23, 2024
IQUW, a property and specialty re/insurer, has announced the promotion of Robbie MacDonald from Head of Property, Direct and Facultative (D&F) to Head of Property. MacDonald started his former role in 2023, where he co-lead IQUW Property along...
Posted: Jul 23, 2024
Insurance Business Magazine - US
Posted: Jul 23, 2024
The world recorded its hottest ever day, as many parts of the Mediterranean face extreme wildfire risks. Sunday witnessed the highest average temperature on Earth, breaching a previous record set a year ago, according to provisional data from the Eur...
Posted: Jul 23, 2024
Insurance holding company W. R. Berkley Corporation generated record net premiums written (NPW) of more than $3.1 billion in the second quarter of 2024, as net investment income increased by almost 52% to a new record. As NPW grew more than 11% ye...
Posted: Jul 23, 2024
“I think most insurance companies have learned it’s not quite as simple as putting up a line and nothing ever breaks. But it’s an incredible opportunity, and it’s going be a growing part of an insurance companies’ books.” The post
Posted: Jul 23, 2024
Swiss Re Reinsurance Solutions has revealed that Fathom’s advanced Global, UK, and Japan flood maps are now available within the CatNet risk assessment platform. If you recall, the global reinsurance giant acquired Fathom, the Bristol, UK-ba...
Posted: Jul 23, 2024
Cytora, the digital risk processing platform, has bolstered its global advisory board with the addition of industry veteran Laurent Rousseau, Guy Carpenter CEO of EMEA and Global Capital Solutions (part of Marsh McLennan). A renowned figure across...
Posted: Jul 23, 2024
WOODBRIDGE, N.J., July 23, 2024 – NIP Group, a leading specialty insurance provider with over 35 years of experience, in collaboration with AmTrust Financial Services, Inc. (AmTrust), a top US insurer, are proud to introduce PropanePro™, a new insura...
Posted: Jul 23, 2024
After taking a $1 billion slice in 2023, it’s notable that Berkshire Hathaway did not participate in Florida Citizens Property Insurance Corporation’s 2024 catastrophe reinsurance renewal, which was dominated by Bermuda-based and colla...
Posted: Jul 23, 2024
In its Q2 2024 results, RLI Corp has revealed that its underwriting income increased to $70 million on an 81.5 combined ratio, up from $41.2 million on an 87.2 combined ratio in Q2 of 2023. RLI’s Property segment reportedly made up $53.2 mil...
Posted: Jul 23, 2024
Posted: Jul 23, 2024
Posted: Jul 23, 2024
Beazley has noted that despite its position as a leading cyber insurer, the recent global IT outage event will not change its current undiscounted combined ratio guidance of low-80s for its full year 2024 results. For those unaware, the outage was...
Posted: Jul 23, 2024
SiriusPoint Ltd., a global specialty re/insurer, has appointed Inmaculada Gonzalez as Global Head of Ceded Reinsurance, effective August 19th, 2024. Gonzalez succeeds Habib Kattan, who will leave on December 31st, 2024, following a period of trans...
Posted: Jul 23, 2024