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A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services prov...
Posted: Jun 20, 2024
The developers of the Golden Pass LNG export facility that’s under construction in Texas warned of additional costs and delays due to the bankruptcy of contractor Zachry Industrial Inc. “Construction of a project of this magnitude, capabl...
Posted: Jun 20, 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier, has partnered with Lightspeed Specialty Insurance Solutions, a subsidiary of Volnay Insurance Holdings, to launch an insurance facility in California aimed at providing comprehensiv...
Posted: Jun 20, 2024
A bid by GSK and other drugmakers to stop more than 70,000 lawsuits in Delaware over discontinued heartburn drug Zantac has received the backing of leading U.S. industry groups, including the United States Chamber of Commerce and Pharmaceutical Resea...
Posted: Jun 20, 2024
NASHVILLE, Tenn. (AP) — Riley Strain, a University of Missouri student whose body was recovered from a river after going missing in Tennessee’s capital for nearly two weeks, died from accidental drowning and intoxication, according to a newly r...
Posted: Jun 20, 2024
A Philadelphia Insurance expert delves into the agribusiness challenges posed by severe weather events, the evolving role of technology, and the importance of understanding policy specifics. The post
Posted: Jun 20, 2024
Olga Chestiperova has joined SCOR’s Alternative Solutions Reinsurance team as a Senior Underwriter, based in the company’s Paris office. The addition of Chestiperova further bolsters a team that has been expanding in recent months. Chestiper...
Posted: Jun 20, 2024
ATLANTA (AP) — An Alabama insurance producer pleaded guilty Tuesday to leaving threatening phone messages for Fulton County District Attorney Fani Willis and the county sheriff last summer because he was angry over the election-interference investiga...
Posted: Jun 20, 2024
Kingstone Companies, Inc., a US property and casualty insurance holding company, has finalised its 2024/2025 catastrophe reinsurance placement, purchasing a total cat limit of $275 million with savings of $6 million. Jennifer Gravelle, Chief Finan...
Posted: Jun 20, 2024
The European cyber insurance market has become much more friendly, with increased capacity per layer, significant overall capacity growth, removal of coverage restrictions, and more enhancements and innovative coverages available, according to Mac...
Posted: Jun 20, 2024
CHERRISK continues to operate in Hungary.
Posted: Jun 20, 2024
This new division was founded by Gavin Wall, Parth Patel, Chris McGill and Matt Eve.
Posted: Jun 20, 2024
EverPeak-branded workers' comp products have launched in 10 states and will eventually be available in most states nationwide.
Posted: Jun 20, 2024
Florida Citizens Board Votes to Raise Rates 14%, But Litigation Costs Dropping The board of governors...
Posted: Jun 20, 2024
R&Q to File for Liquidation in Bermuda, but Sale of Accredited Will Proceed R&Q Insurance Holdin...
Posted: Jun 20, 2024
Survey: U.S. Business Owners Seek More Insurance Coverage as A...
Posted: Jun 20, 2024
The 911 system across Massachusetts was restored Tuesday after going down for several hours, which made it impossible for anyone to reach emergency services through the call number. The Massachusetts State Police announced around 3:45 p.m. that the s...
Posted: Jun 20, 2024
The 911 system across Massachusetts was restored Tuesday after going down for several hours, which made it impossible for anyone to reach emergency services through the call number. The Massachusetts State Police announced around 3:45 p.m. that the s...
Posted: Jun 20, 2024
Leveraging GenAI in Insurance Fraud Investigations From Our Partners sradomski
Posted: Jun 20, 2024
Keystone Agency Partners (KAP), an insurance brokerage platform, has signed a definitive agreement to acquire Keystone Insurers Group (Keystone), a premier independent agency network, marking a significant milestone in its strategic growth plan. T...
Posted: Jun 20, 2024
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70% attributable to five wind and ha...
Posted: Jun 20, 2024
Deloitte survey shows a perception gap between C-suite and workers on company commitments to human sustainability. The post
Posted: Jun 20, 2024
Large US primary insurer Allstate has reported estimated catastrophe losses of $1.4 billion ($1.1bn after-tax) for the month of May, taking total catastrophe losses for May year-to-date to $2.62 billion. At $1.4 billion, May 2024 catastrophe losse...
Posted: Jun 20, 2024
K2 Group Holdings Limited (K2 International), the specialty re/insurance underwriting platform, and division of K2 Insurance Services, has announced the launch of K2 Rubicon Specialty. According to the announcement, K2 Rubicon Specialty will write...
Posted: Jun 20, 2024
Global re/insurance broker Aon has sold technology and intellectual property (IP) assets to Moat Metrics Inc., a Washington-based company that delivers AI driven business and research intelligence. Lee, founder and CEO of Moat Metrics, said: “We a...
Posted: Jun 20, 2024
Estimated insured losses from flooding, which hit Southern Germany on May 15-June 5, will range from €2.4 billion (US$2.6 billion) to €3.6 billion (US$3.9 billion), according to Verisk, the data analytics and technology firm. Moody’s RMS recent...
Posted: Jun 20, 2024
Chubb, the property and casualty (P&C) insurer, has appointed American International Group’s (AIG) Robin Roos as Technology and Climate Tech Industry Practice Leader for the firm’s Northern Europe Region. In the role, he is expecte...
Posted: Jun 20, 2024
In a recent interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager Cyber Risks at Munich Re, discussed how the firm stays ahead of the evolving cyber threat landscape and how companies can enhance their preparedness against these thr...
Posted: Jun 20, 2024
The sinking of a coal-carrier by a sea drone has boosted the risk of navigating the vital Bab el-Mandeb chokepoint to a new level and is driving a fresh surge in insurance costs. The British navy said Tuesday that the …
Posted: Jun 20, 2024
ZestyAI, a provider of AI-driven climate and property risk analytics solutions, has announced a strategic partnership with Duck Creek Technologies, a provider of core systems for property and casualty (P&C) insurance. This collaboration positi...
Posted: Jun 20, 2024
Roberto Tous is joining Arch Insurance (EU) dac (AIEU), part of Arch Insurance International, as Director of Strategy & Distribution for Europe, to help expand the company’s distribution strategy in the region. In this new role with AIEU...
Posted: Jun 20, 2024
The number of companies saying they have a climate transition plan in line with the world’s most ambitious goal has jumped by nearly half, but many do not give investors enough information to check the claims, according to non-profit data ̷...
Posted: Jun 20, 2024
Barnes and Lee shared how technology can provide more transparency into global supply chains, helping to avoid business interruption. The post
Posted: Jun 20, 2024
Fusion Specialty, a provider of specialty insurance solutions, has announced the expansion of its global collaboration with HDI Global Specialty SE, a specialty insurer, which is now extending into the Americas. This partnership will offer increas...
Posted: Jun 20, 2024
Tropical Storm Alberto is strengthening as the system neared the Gulf coast of Mexico, and is expected to dump heavy rain across the northeast of the country and into southern Texas. The center of Alberto is expected to reach the …
Posted: Jun 20, 2024
Global professional services firm Aon has appointed Tracy-Lee Kus as Head of its London-based Global Broking Centre (GBC), effective from the 1st of September 2024. Kus holds more than 30 years of experience in the insurance industry, having previ...
Posted: Jun 20, 2024
Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday. Banks had higher exposure to money laund...
Posted: Jun 20, 2024
With Andreas Berger taking over as Swiss Re CEO in July, analysts at JP Morgan have suggested his track record of delivery should be a catalyst for the firm to become a more reliable source of earnings and ultimately capital returns. Berger has ru...
Posted: Jun 20, 2024
Cytora, a digital risk processing platform, has entered into a partnership with ChAI, an AI-powered raw material market intelligence and commodity pricing forecaster, in a move that is anticipated to help insurers navigate market volatility. Accor...
Posted: Jun 20, 2024
Posted: Jun 20, 2024
Urgent action must be taken in the Red Sea to stop attacks on merchant shipping by Yemen’s Houthis, leading industry groups said on Wednesday, after the sinking of a second ship. Iran-aligned Houthi militants first launched drone and missile st...
Posted: Jun 20, 2024
Everest Insurance International, a division of Bermuda-based insurer and reinsurer Everest Group, Ltd., has hired Liberty Special Market’s (LSM) Sylvain Chegaray as Head of Marine, France. An experienced veteran across the sector, Chegaray s...
Posted: Jun 20, 2024
Hundreds of UK banks, brokers and insurers missed a deadline to respond to the financial watchdog’s survey on sexual harassment and bullying in the City, suggesting that firms are struggling to grasp the scale of the problem. In February, the &...
Posted: Jun 20, 2024
Servca, an independent, owner-managed Lloyd’s specialty broker, has announced the launch of a new office in Northern Ireland, strategically positioned to leverage the region’s pivotal role as a trading hub for both UK and European business....
Posted: Jun 20, 2024