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US SCS activity drives $61bn insured nat cat total for H1’24: Gallagher Re

Reinsurance News

Global insurance and reinsurance industry losses from natural catastrophes in the first half of 2024 reached at least $61 billion, coming in 25% higher than the first half decadal average on the back of the second costliest H1 on record for the US...

Posted: Jul 17, 2024

Lemonade expands Aviva partnership with UK buildings & contents cover launch

Reinsurance News

Lemonade, the digital insurance organisation, has expanded its UK homeowners offering with the launch of buildings and contents insurance, in a continuation of the firm’s ongoing partnership with Aviva. According to the announcement, homeown...

Posted: Jul 17, 2024

Florida Peninsula & Windward appoint CFO Cantor as Vice Chairman of the Board

Reinsurance News

Florida Peninsula Holdings and Windward Holdings, which own and manage Florida Peninsula Insurance, Edison Insurance, and Ovation Home Insurance Exchange, have appointed Gary Cantor, currently the Chief Financial Officer (CFO), as Vice Chairman of...

Posted: Jul 17, 2024

Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond

Insurance Journal

It is interesting—and telling—that one of the concerns around generative artificial intelligence has to this point largely revolved around copyright infringement. The most high-profile lawsuits around GenAI have so far centered on the idea that this...

Posted: Jul 17, 2024

Surplus Lines’ Commercial Growth; Fla. Litigation Costs Reached New High in 2023

Insurance Journal

Two recent reports reflect trends in Florida’s property insurance market, including the continued growth of surplus lines’ business and an uptick last year in litigation costs for carriers. The Florida Surplus Lines Service Office reporte...

Posted: Jul 17, 2024

Surplus Lines Commercial Growth; Fla. Litigation Costs Reach New High in 2023

Insurance Journal

Two recent reports reflect trends in Florida’s property insurance market, including the continued growth of surplus lines’ business and an uptick last year in litigation costs for carriers. The Florida Surplus Lines Service Office reporte...

Posted: Jul 17, 2024

Insurers Tied to Apollo, KKR Buy Mortgages Outright in New Twist

Insurance Journal

Yield-hungry insurance firms are adopting an unconventional strategy: they’re skipping mortgage-backed bonds and buying the underlying whole loans outright. It’s a trend that’s picked up pace over the last few years. Last year alone...

Posted: Jul 17, 2024

Washington Adult Family Home Operator Facing Felony Charge in Alleged Workers’ Comp Scam

Insurance Journal

A Spokane, Washington woman who ran an adult family home while claiming she was too injured to work faces a felony charge in a $60,000 workers’ compensation fraud case. Serah Kamau, 52, reportedly operated her business, Brookhouse Adult Family...

Posted: Jul 17, 2024

Washington Adult Home Operator Facing Felony Charge in Alleged Workers’ Comp Scam

Insurance Journal

A Spokane, Washington woman who ran an adult family home while claiming she was too injured to work faces a felony charge in a $60,000 workers’ compensation fraud case. Serah Kamau, 52, reportedly operated her business, Brookhouse Adult Family...

Posted: Jul 17, 2024

Amazon Worker Injured Due to Repetitive Tasks Loses Workers’ Compensation Bid

Insurance Journal

An Amazon distribution center worker in Virginia whose job entailed repetitive lifting and stowing of items every day and who suffered rotator cuff tears has been denied workers’ compensation benefits because she failed to prove her injury resu...

Posted: Jul 17, 2024

Allied Trust expands its homeowners insurance program in North Carolina

Reinsurance News

Allied Trust Insurance Company has announced the launch of its homeowners insurance program in North Carolina, US, to provide coverage focused insurance options for coastal residents. Having entered the North Carolina insurance market in 2022 afte...

Posted: Jul 17, 2024

Disaster-Struck Cities Fight for Aid as FEMA Funding Runs Low

Insurance Journal

A once in 200-years storm dumped 11 inches of rain over four hours on the central Massachusetts town of Leominster in September, washing away culverts, creating a sinkhole that swallowed cars at a dealership and flooding the city council chambers &#8...

Posted: Jul 17, 2024

Colorado Workers with Bird Flu Toiled in Heat, Without Effective Protective Gear

Insurance Journal

Colorado workers who contracted bird flu were working during extreme heat and under large fans, factors that made wearing protective equipment difficult and potentially contributed to their infections, the U.S. Centers for Disease Control and Prevent...

Posted: Jul 17, 2024

Navigating Hard-to-Place Workers’ Compensation: A Path Forward for High-Risk Businesses

Insurance Journal

This post is part of a series sponsored by PCF Insurance Services. Frank Fasano, Director of Sales at ToughComp, a PCF business, shares insight from his years of experience working within industries that experience challenges finding affordable worke...

Posted: Jul 16, 2024

Elevating Outcomes: The Impact of Early Physical Therapy on Workers’ Compensation Claims

Risk & Insurance

Discover the benefits of timely physical therapy in enhancing patient recovery and reducing claim costs. The post

Posted: Jul 16, 2024

Hiscox names Mike Maletsky as VP, Practice Leader

IIR

The industry veteran of 18 years will head Hiscox’s tech E&O and cyber underwriting in the U.S.

Posted: Jul 16, 2024

Cytora Integrates Gamma Risk Perilfinder for Address-Level Risk Assessment

IIR

The partnership will allow insurers to identify location risk in seconds through Gamma Risk’s Perilfinder which includes map visualization and accumulation reporting.

Posted: Jul 16, 2024

CompSource Mutual Names Mike Paulin CIO

IIR

Paulin previously served in IT leadership roles at AF Group, HW Kauffman, and Donegal Insurance Group

Posted: Jul 16, 2024

M&A Dealmaking Approaching 'Normal’ Levels

IA Magazine

The first six months of 2024 marked the lowest first-half total in four years, which could likely be approaching a 'normal' level of dealmaking.

Posted: Jul 16, 2024

CAPE Analytics and EagleView Announce Long-Term Imagery Collaboration Expanding Coverage, Recency, a...

coverager

“It is a natural collaboration that delivers the best combination of analytics and imagery available. Customers are going to love these added capabilities,” said Piers Dormeyer, CEO of EagleView.

Posted: Jul 16, 2024

Cuvva became profitable in 2023

coverager

The startup generated a profit for the first time.

Posted: Jul 16, 2024

Primerica to exit senior health business

coverager

In addition, Prosperity’s distribution network will be invited to sell iA Financial Group’s products.

Posted: Jul 16, 2024

Tech Bytes: New Partnerships at Counterpart, Send, FRISS

Carrier Management

Tech Bytes: New Partnerships at Counterpart, Send, FRISS Counterpart, an AI...

Posted: Jul 16, 2024

New Jersey’s US Senator Menendez Convicted of Bribery, Foreign-Agent Charges

Insurance Journal

US Senator Bob Menendez, the once-powerful New Jersey Democrat, was found guilty of bribery, extortion and acting as a foreign agent of Egypt after a corruption trial focused on 13 gold bars, nearly $500,000 in cash and a Mercedes-Benz seized …

Posted: Jul 16, 2024

World Insurance Acquires Rhode Island’s Affiliated Insurance Managers

Insurance Journal

Insurance broker World Insurance Associates announced that it recently acquired the business of Affiliated Insurance Managers (AIM) of Warwick, Rhode Island. AIM was founded in 1937. Today the agency is primarily focused on commercial lines, while al...

Posted: Jul 16, 2024

Slide partners with the Tampa Bay Buccaneers

coverager

As part of the agreement, Slide signage will appear inside Raymond James Stadium this season.

Posted: Jul 16, 2024

Bold Penguin partners with RT Specialty

coverager

Bold Penguin has powered over 6 million quote applications and $6 billion+ in premium since 2016.

Posted: Jul 16, 2024

How Mature Is Your Claims Process?

coverager

How can you modernize your insurance claims process? Find out your strengths and where you can improve.

Posted: Jul 16, 2024

GenAI Investment to Grow 30%, High Adoption Firms Expect 3x Higher ROI Over Next 3 Years

Carrier Management

GenAI Investment to Grow 30%, High Adoption Firms Expect 3x Higher ROI Over Next 3 Years With modest GDP growth and...

Posted: Jul 16, 2024

Texas Utility Sued by Restaurants Over Hurricane Beryl Response

Carrier Management

Texas Utility Sued by Restaurants Over Hurricane Beryl Response Restaurants in Houston and nearby regio...

Posted: Jul 16, 2024

People Moves: Aon Taps Thomas From Lloyd’s as Head of Lloyd’s Capital; McLarens Names 2 Leadership A...

Insurance Journal

This edition of International People Moves details appointments at Aon and McLarens. A summary of these new hires follows here. Insurance broker Aon plc appointed Ed Thomas as head of Lloyd’s Capital within its Reinsurance Solutions Capital Adv...

Posted: Jul 16, 2024

Viewpoint: FEMA Flood Rule Will Lead to Safer Rebuilding Post-Disaster

Insurance Journal

FEMA issued a new rule that will increase the nation’s resilience to future flood disasters. The rule is amongst the first adopted by a federal agency that will require federally funded projects to be sited and designed with future climate &#82...

Posted: Jul 16, 2024

Ed Thomas joins Aon as Head of Lloyd’s Capital within Reinsurance Solutions Capital Advisory unit

Reinsurance News

Global insurance and reinsurance broking group Aon has named Lloyd’s of London’s Ed Thomas as head of Lloyd’s Capital within its Reinsurance Solutions Capital Advisory team, based in London. In his new role, Thomas takes on responsibil...

Posted: Jul 16, 2024

Markets/Coverage: Lemonade Expands Home Insurance Offering in UK

Insurance Journal

Lemonade, the New York-based insurtech, announced the launch of buildings and contents insurance in the United Kingdom in partnership with insurer Aviva. Expanding the company’s home insurance offerings in the UK, homeowners can now purchase ex...

Posted: Jul 16, 2024