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Concentra Group, a Select Medical unit, is eyeing a valuation of $3.30 billion in its U.S. initial public offering, joining a growing list of firms testing the market after a near two-year dry spell. The occupational health services company is …...
Posted: Jul 16, 2024
AUSTIN, TX, July 10, 2024 — Each year, a group of exceptional insurance professionals are selected to represent their states and then can compete to become the National Outstanding CSR of the Year. This prestigious award, regarded as the foremo...
Posted: Jul 16, 2024
U.S. insured losses from Hurricane Beryl will likely fall between $2.5 billion to $4.5 billion, according to estimates by Moody’s RMS Event Response. Insured losses associated with the storm include wind, storm surge, and precipitation-induced...
Posted: Jul 16, 2024
To better support the underwriting of a growing line of business and enhance product and service offerings, TransRe, a global reinsurer, has announced the promotion of Tina Kališnik to Global Portfolio Leader, Cyber, and Diana Liu to US Cyber Unde...
Posted: Jul 16, 2024
Parametric Insurance Increasingly Aids Farmers, Others Dealing With Extreme Weather Joemar Flores, a sp...
Posted: Jul 16, 2024
Posted: Jul 16, 2024
Posted: Jul 16, 2024
Last month, amid reports that Hurricane Beryl would become the earliest Category 5 hurricane in history, a group of money managers were busy trying to figure out whether their highly calibrated bets centered on natural catastrophes were about to take...
Posted: Jul 16, 2024
Global insured losses from natural disasters are expected to continue rising at an annual rate of 5-7% relative to GDP, according to Kera McDonald, Chief Underwriting Officer at Swiss Re Corporate Solutions. During Swiss Re’s recent media dialogue...
Posted: Jul 16, 2024
Firefighters have contained a wind-swept wildfire that was threatening about 200 homes on the Hawaiian island of Kauai, authorities said late Monday night, and an evacuation notice for the area has been lifted. The fire burned 1.56 square miles of &#...
Posted: Jul 16, 2024
Berkshire Hathaway’s share price set a record high on Monday, reflecting investors’ confidence in Warren Buffett’s company, which is often regarded as a microcosm of the broader American economy. The price of Berkshire’s Class...
Posted: Jul 16, 2024
Gallagher report highlights how insurance policies can respond to global protests and civil unrest, urging proactive risk mitigation. The post
Posted: Jul 16, 2024
Surplus lines premium taxes and state filing variations are one of the more “exciting” areas of compliance for carriers and brokers alike.
Posted: Jul 16, 2024
The company reported net income of $802.7 million.
Posted: Jul 16, 2024
QCyberProtect provides cyber insurance for a range of organizations.
Posted: Jul 16, 2024
Global speciality re/insurer SiriusPoint has announced its partnership with Service First Insurance, a managing general agent (MGA) that provides insurance solutions for the commercial and business markets in the Republic of Ireland. Service First...
Posted: Jul 16, 2024
A New York federal judge has ordered Amazon.com to comply with a subpoena from a U.S. civil rights agency investigating claims that the online retailer discriminated against pregnant warehouse workers. U.S. District Judge Lorna Schofield in Manhattan...
Posted: Jul 16, 2024
The Texas Windstorm Insurance Association Actuarial & Underwriting Committee voted on Monday, July 15 to recommend that the TWIA Board of Directors approve a rate filing to increase rates by 10% for 2025 residential policies and by 10% for 2025 &...
Posted: Jul 16, 2024
Beaumont Health (now Corewell Health), a health care system in southeast Michigan, will pay $30,000 and furnish other relief to settle a race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency...
Posted: Jul 16, 2024
The federal government announced a $241.5 million settlement with Marathon Oil last week for alleged air quality violations at the company’s oil and gas operations on the Fort Berthold Indian Reservation in North Dakota. The Environmental Prote...
Posted: Jul 16, 2024
Global multi-line reinsurer Fortitude Re has appointed Greta Hager as its new Chief Financial Officer (CFO), with Kai Talarek transitioning to the newly created role of Chief Growth & Optimization Officer, effective August 17th, 2024. Both Hag...
Posted: Jul 16, 2024
A group of Houston restaurants that lost power for days after Hurricane Beryl sued the city’s main utility, accusing CenterPoint Energy Inc. of failing to adequately invest in infrastructure and respond to widespread power outages. The lawsuit,...
Posted: Jul 16, 2024
The 16-strong crew of a Comoros-flagged oil tanker that capsized off Oman are still missing, the country’s maritime security center said on Tuesday, a day after the sinking was reported. The crew of “Prestige Falcon” comprised 13 In...
Posted: Jul 16, 2024
‘We’re All Going to See the Impact’ – Beryl Could Worsen Texas Insurance Crisis Insurance agent Ian Hartgrove was...
Posted: Jul 16, 2024
Global insurer QBE has launched QCyberProtect, a comprehensive and consistent cyber policy designed to enhance cyber resilience for a diverse range of clients across the globe. QCyberProtect offers customised coverage for losses from various cyber...
Posted: Jul 16, 2024
The families of two construction workers killed when an airport hangar in Idaho collapsed are suing several companies that were involved in the building process, alleging the businesses recklessly cut corners and used inappropriate materials for the...
Posted: Jul 16, 2024
The families of two construction workers killed when an airport hangar in Idaho collapsed are suing several companies that were involved in the building process, alleging the businesses recklessly cut corners and used inappropriate materials for the...
Posted: Jul 16, 2024
Global property and casualty insurer Chubb has appointed Peter Kelaher as Division President of Continental Europe, Middle East and North Africa (EMEA), subject to regulatory approval. The appointment is expected to be effective September 1st, 202...
Posted: Jul 16, 2024
Progressive Corp. today reported second quarter 2024 results of about $1.5 billion and a combined ratio of 91.9. Results for the Mayfield Village, Ohio-based insurer are in comparison to second quarter 2023 net income of $345.4 million and a combined...
Posted: Jul 16, 2024
The Reinsurance Association of America (RAA), a trade association representing property and casualty reinsurers, and the National Oceanic and Atmospheric Administration (NOAA), an US federal agency focused on the conditions of the oceans, major wa...
Posted: Jul 16, 2024
Insurance Business Magazine - US
Posted: Jul 16, 2024
Insurance Business Magazine - US
Posted: Jul 16, 2024
Insurance Business Magazine - US
Posted: Jul 16, 2024
Insurtech funding in Latin America (LatAm) fell to a historic low of $26 million during the first half of 2024, marking a 78% decline from the same period in 2023. Looking at the period between July 2023 – June 2024, inclusively, the total r...
Posted: Jul 16, 2024
PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects. The move f...
Posted: Jul 16, 2024
West P&I, an insurance provider for the global maritime and offshore industries, has announced the appointment of Katy Shearer as Chief Risk Officer, adding her role to the Management Board of Directors. This decision highlights Shearer’s sign...
Posted: Jul 16, 2024
Surplus lines premium taxes and state filing variations are one of the more “exciting” areas of compliance for carriers and brokers alike.
Posted: Jul 16, 2024
Florida Peninsula Holdings and Windward Holdings, which together own and manage Florida Peninsula Insurance Co., Edison Insurance and Ovation Home Insurance Exchange, has named is co-founder vice chairman of the board. Gary Cantor, who, along with Pa...
Posted: Jul 16, 2024
Jamaica’s Minister of Finance, Dr. Nigel Clarke, has revealed that the country’s Excess Rainfall Policy with the Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been triggered following Hurricane Beryl, providing Jamaica with an addition...
Posted: Jul 16, 2024
In order to adopt the International Financial Reporting Standard 17 (IFRS17) by the official target date India’s General Insurance Corporation (GIC Re) has chosen to implement SAP Fioneer’s Financial Products Subledger (FPSL) for Insurance s...
Posted: Jul 16, 2024
Markel, the insurance arm of Markel Group Inc., has appointed Rob Cole as the Chief Actuarial Officer. Cole will succeed Ron Herrig, who will be retiring at the end of 2024 after a successful 28-year career with Markel. Brian Costanzo, Chief Finan...
Posted: Jul 16, 2024
Safety professional LaToya Lee breaks ground as Raising Cane’s Chicken Fingers’ first female African American vice president. The post For Risk Manager LaToya Le...
Posted: Jul 16, 2024
Cyclical labor and material cost increases mean brokers and underwriters had better be on their toes when communicating valuations to insureds. The post
Posted: Jul 16, 2024
It’s about time we got emerging technologies and strategies that mitigate risk and avoid losses into the hands of more customers. The post
Posted: Jul 16, 2024
Fleming Intermediate Holdings has reportedly filed a lawsuit for securities fraud, common-law fraud, and breach of contract in federal court against James River Group and its CEO and CFO concerning Fleming’s purchase of JRG Re from James River for...
Posted: Jul 16, 2024
GCube Insurance, an underwriter for renewable energy products, has launched a new consortium, comprised of six Lloyd’s syndicates, in a move that is set to provide battery energy storage system (BESS) developers and asset owners worldwide wi...
Posted: Jul 16, 2024
The resilience of the global economy to geopolitical tensions and the higher inflationary environment has set the scene for growth and better profitability across the insurance sector, according to global reinsurer Swiss Re’s latest World In...
Posted: Jul 16, 2024