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Way.com introduces catastrophe loss mitigation program

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The program is available in hurricane-affected states.

Posted: Jun 28, 2024

KarmaCheck raises $45 million

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KarmaCheck is a technology-based solution for background checks, credentialing, and compliance.

Posted: Jun 28, 2024

Study Examines How Climate, Land Condition Impact Tornado Formation

Carrier Management

Study Examines How Climate, Land Condition Impact Tornado Formation Scientists are looking at...

Posted: Jun 28, 2024

Cannabis heist

Rough Notes

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Cannabis heist Apex Solutions, Inc., ran a cannabis business in Oakland, California. On June 1, 2020, Apex sustained property and business income losses when un...

Posted: Jun 28, 2024

Jet ski claim is time barred

Rough Notes

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Jet ski claim is time barred The owner of A.C. Watercraft Rental, Sayed Mohammed, had sought liability insurance for all his business-owned watercraft through F...

Posted: Jun 28, 2024

Hospital Lien Act debated

Rough Notes

INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Hospital Lien Act debated In December 2017, the Long Beach Medical Center treated Vernon Barnes for injuries he received in a car accident. Afterward, Barnes su...

Posted: Jun 28, 2024

People Moves: Higginbotham Promotes Russell to President, Private Client Services

Insurance Journal

Higginbotham announced the promotion of long-time executive team member and former Chief Operating Officer, Personal Insurance Mary Russell to the position of President, Private Client Services. This move marks the final division of the president tit...

Posted: Jun 28, 2024

Texas Health System Loses COVID-19 Business Interruption Suit – 5th Circuit

Insurance Journal

A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-...

Posted: Jun 28, 2024

A Potential Atlantic Hurricane Is About to Clash With a Cloud of Saharan Dust

Insurance Journal

A cluster of thunderstorms is threatening to become the Atlantic’s next tropical storm or hurricane — if it can survive a cloud of dust from the Sahara. The storms southwest of the Cape Verde islands have a 70% chance of …

Posted: Jun 28, 2024

Lancashire gets positive outlook, ratings affirmed by S&P

Reinsurance News

S&P Global Ratings has revised its outlook to positive from stable for Lancashire Holdings Ltd. and its operating subsidiaries (LRE), as the firm has strengthened its competitive position over the past few years through a diversification strat...

Posted: Jun 28, 2024

Devastating Midwest Storms Highlight Lack of Flood Insurance

Carrier Management

Devastating Midwest Storms Highlight Lack of Flood Insurance Rick Satterwhite's house backs up to the M...

Posted: Jun 28, 2024

Uber, Lyft Adopt Pay Standard for Massachusetts Drivers to End Contractor Suit

Carrier Management

Uber, Lyft Adopt Pay Standard for Massachusetts Drivers to End C...

Posted: Jun 28, 2024

Supreme Court Overturns Chevron Rule in Blow to Regulators

Insurance Journal

A divided US Supreme Court threw out a decades-old legal doctrine that empowered federal regulators to interpret unclear laws, issuing a blockbuster ruling that will constrain environmental, consumer and financial-watchdog agencies. The 6-3 decision,...

Posted: Jun 28, 2024

Le Pallec named S&P Global Ratings President, Cheung becomes S&P Global CEO

Reinsurance News

Yann Le Pallec has been appointed President of S&P Global Ratings, the rating agency arm of S&P Global, succeeding Martina L. Cheung, effective November 1, 2024. In his new role, Le Pallec will have ultimate responsibility for all aspects...

Posted: Jun 28, 2024

Three Charged With Helping Agents Cheat on Florida Insurance License Exams

Insurance Journal

Three Miami people, two them licensed insurance agents, have been charged with operating an unauthorized insurance agent licensing school and taking license examinations in applicants’ place. At least five agents’ licenses have been suspe...

Posted: Jun 28, 2024

Majority of Business Owners Worry Insurance Won’t Cover Losses: Survey

Risk & Insurance

A survey of U.S. business owners by Gallagher's reveals concerns about insurance coverage gaps and the impact of emerging risks on their operations. The post

Posted: Jun 28, 2024

Millions of Texans Live in Counties Without Hazard Mitigation Plan

Insurance Journal

LUFKIN — More than 100 Texas counties do not have a hazard mitigation plan, federal data shows, cutting off access to billions in non-emergency grants to help rebuild infrastructure after natural disasters. Of 254 counties in the state, 103 counties...

Posted: Jun 28, 2024

House Collapses Into Flood-Swollen River Near Minnesota Dam Amid Storms

Insurance Journal

DES MOINES, Iowa (AP) — A house that was teetering on the edge of an eroding riverbank near a Minnesota dam collapsed into the river in the latest jarring example of extreme weather gripping the upper Midwest. Video shows the …

Posted: Jun 28, 2024

Enact secures additional $90mn XoL reinsurance cover

Reinsurance News

Mortgage insurer Enact Holdings, Inc. secured the $90 million of additional excess of loss (XoL) reinsurance protection as part of its credit risk transfer (CRT) programme. This CRT transaction covers a portion of existing mortgage insurance polic...

Posted: Jun 28, 2024

James Bracken Named as New CFO of Zurich North America

Risk & Insurance

The latest people news in the industry today. The post James Bracken Named as New CFO of Zurich North America appeared first o...

Posted: Jun 28, 2024

Introducing LogRock

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LogRock is a nationwide, digital insurance group operating with three sibling agencies.

Posted: Jun 28, 2024

After.com raises $3 million

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The company is led by Wesley Eames.

Posted: Jun 28, 2024

Ag Brokerage Solutions exceeds expectations

coverager

The program is available in hurricane-affected states.

Posted: Jun 28, 2024

Lisa Stevens Promoted to Chief Administrative Officer at Aon

Risk & Insurance

The latest people news in the industry today. The post Lisa Stevens Promoted to Chief Administrative Officer at Aon appe...

Posted: Jun 28, 2024

AXA XL Announces Key Leadership Appointments in Canada

Risk & Insurance

The latest people news in the industry today. The post AXA XL Announces Key Leadership Appointments in Canada appeared first o...

Posted: Jun 28, 2024

Allstate, Nationwide Post Dramatic Q12024 Homeowners Loss Ratio Drops: S&P

Insurance Journal

In the topsy-turvy world of homeowners insurance, first-quarter loss ratios have been bouncing around for the last five years—from below 50 in 2020 to over 70 in 2021 and 2023, a new analysis shows. The S&P Global Market Intelligence analysis &#8...

Posted: Jun 28, 2024

Ex-Staffers of Missouri Boarding School Face Suit Alleging Abuse of Students

Insurance Journal

JEFFERSON CITY, Mo. (AP) — Yet another civil lawsuit filed Wednesday against a Missouri Christian boarding school by a former student accuses staffers of forced child labor, physical abuse and tactics aimed at hiding mistreatment from authorities. Th...

Posted: Jun 28, 2024

Predict & Prevent Podcast: Advanced Modeling Prevents Flash Flood Surprises

Risk & Insurance

Using advanced modeling technology to predict when and where storms and heavy rains will cause severe surface flooding can give businesses and communities early warning to protect critical assets, deploy mitigation efforts and get out of harm&#821...

Posted: Jun 28, 2024

Lockton unveils global space practice, led by PIIQ’s Ian George

Reinsurance News

Lockton, an independent insurance broker, has launched a new global space practice led by Ian George, Head of Space, and joined by Russell Sawyer and Mark Williamson as Account Executive and Consultant, respectively. According to the announcement,...

Posted: Jun 28, 2024

Onex Partners Completes Acquisition of R&Q’s Program Manager, Accredited

Insurance Journal

Accredited, the property/casualty program manager and subsidiary of R&Q Insurance Holdings Ltd., announced the completion of its acquisition by Onex Partners, the Toronto-based private equity company. The sale of the unit comes on the heels of R&...

Posted: Jun 28, 2024

Onex completes acquisition of R&Q’s Accredited

Reinsurance News

P&C program manager Accredited has announced the successful completion of its acquisition by Onex Partners, and has also revealed the completion of a legacy reinsurance transaction with insurance group Enstar in connection with the acquisition...

Posted: Jun 28, 2024

Investing in Climate Resilience Really Pays Off: Study

Carrier Management

Investing in Climate Resilience Really Pays Off: Study Weather-related c...

Posted: Jun 28, 2024

California Workers’ Comp Med-Legal Costs up Sharply Under New Fee Schedule

Insurance Journal

Payments for medical-legal evaluations and reports used to resolve medical disputes in California worker injury claims rose more than expected since a new Med-Legal Fee Schedule (MLFS) took effect in 2021, according to a new study. The study by the &...

Posted: Jun 28, 2024

S&P upgrades Echo Re’s rating to A

Reinsurance News

S&P Global Ratings has upgraded Swiss reinsurer Echo Rueckversicherungs AG (Echo Re) long-term issuer credit and financial strength rating from ‘A-’ to ‘A’ with a stable outlook. The upgrade reflects Echo Re’s continued track record of s...

Posted: Jun 28, 2024

Vertafore Report Highlights Agency Recruitment, Hard Market Challenges

Insurance Journal

Independent insurance agencies are struggling to find qualified job candidates, and nearly a third of agents surveyed for a recent Vertafore report said they’re finding that “young people just aren’t that interested in insurance.&#8...

Posted: Jun 28, 2024

Bermudian BF&M and Argus amalgamation to enhance P&C, Life, Health, and Pensions portfolio

Reinsurance News

BF&M Limited, the holding company of the BF&M group of companies, and Argus Group Holdings Limited has announced they plan to combine and create a new combined Bermuda-headquartered multi-line insurer. Both Bermudian companies have signed...

Posted: Jun 28, 2024

Fisker to Recall Over 12,000 Ocean Vehicles

Insurance Journal

Electric-vehicle firm Fisker is recalling more than 12,000 Ocean vehicles to fix an issue where exterior door handles can stick and fail to open, the company said on Friday, marking its third recall this month. The U.S. National Highway Traffic &#823...

Posted: Jun 28, 2024