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Insurance Business Magazine - US
Posted: Jun 07, 2024
Report Finds Lax Oversight Put LA Freeway at Risk Before 2023 Blaze Lax oversight by California's trans...
Posted: Jun 07, 2024
Insurers Plan to Invest More in the Private Credit Market Global insurers plan to invest fu...
Posted: Jun 07, 2024
Posted: Jun 07, 2024
Posted: Jun 07, 2024
Victor, a global managing general underwriter (MGU), has announced the appointment of industry veteran Arno Wijnands as the new country manager for Victor Netherlands. In his new role, Wijnands will report directly to Tim Carter, Global Chief Unde...
Posted: Jun 07, 2024
WTW, a global advisory, broking, and solutions company, has announced a new partnership with Guidewire, a provider of software solutions for the insurance industry. This collaboration will enable carriers to quickly integrate WTW and Guidewire’s c...
Posted: Jun 07, 2024
A Colorado woman who was seriously injured when a freight train hit the parked police vehicle in which she sat handcuffed has reached an $8.5 million settlement, a lawyer representing two of the involved police officers said. The city of …
Posted: Jun 07, 2024
The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous surge in claims severity from h...
Posted: Jun 07, 2024
Guidewire, a platform provider for property and casualty (P&C) re/insurers, has appointed Shaji Sethu as the Senior Vice President (SVP) and Managing Director of Guidewire Asia-Pacific (APAC). Sethu will report to John Mullen, President and Ch...
Posted: Jun 07, 2024
North Carolina authorities have charged a Battleboro insurance agent with 74 counts after they said he forged life insurance applications for 16 people. Jonathan Michael Vlasak, 35, a licensed producer qualified to sell property, casualty, life and a...
Posted: Jun 07, 2024
Louisiana Insurance Commissioner Tim Temple recently met with 20 property and casualty insurers ahead of this year’s Atlantic Hurricane Season to make sure insurers are prepared to handle claims following a hurricane or other catastrophic event...
Posted: Jun 07, 2024
AM Best has revised outlooks to positive for W.R. Berkley Corporation and its subsidiaries, which reflects its strong balance sheet and operating performance. The Long-Term Issuer Credit Rating (Long-Term ICR) and Long-Term Issue Ratings (Long-Ter...
Posted: Jun 07, 2024
LAKE ZURICH, Ill. (AP) — The body of a 77-year-old man has been found after a house exploded in suburban Chicago. First responders found the home leveled after the explosion about 8:30 p.m. Tuesday in Lake Zurich, according to the …
Posted: Jun 07, 2024
AXIS Capital Holdings Limited, headquartered in Pembroke, Bermuda, appointed Paul Boulos and Rob Ryan as heads of ocean marine. Boulos and Ryan will be responsible for building a suite of ocean marine-related products into a comprehensive offering. M...
Posted: Jun 07, 2024
After multiple deaths in the jail, criminal charges against an employee and alleged sexual relationships with inmates, a North Carolina sheriff’s office has lost its law enforcement liability insurance coverage from Travelers. The News & Ob...
Posted: Jun 07, 2024
HOUSTON (AP) — A Texas county has agreed to pay a group of female deputies $1.5 million to settle a federal lawsuit that claimed they were abused and harassed when a constable’s office turned undercover operations into a drunken “playgrou...
Posted: Jun 07, 2024
Netflix was sued on Thursday for at least $170 million by a Scottish woman who said she was defamed over her portrayal as a stalker in the hit mini-series “Baby Reindeer.” The plaintiff Fiona Harvey has publicly claimed to be …
Posted: Jun 07, 2024
NFP, a middle-market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, has announced that Mike James has been appointed as chair of Finseca’s board of directors. Finseca is an organisation compris...
Posted: Jun 07, 2024
The Baldwin Group has unveiled Cyber Navigator – its Application Program Interface (API)-connected cyber insurance placement platform. According to the announcement, business insurance buyers will be able to complete a digital application to recei...
Posted: Jun 07, 2024
“There could be a liability crisis in reinsurance in a couple of years,” a reinsurance executive predicted this week. Ken Brandt, chair, president and chief executive officer of TransRe, offered the assessment during a 30-minute chat with...
Posted: Jun 07, 2024
Three Massachusetts drivers have hit a dead end for the second time in their drive for court certification of a class action against auto insurers over missing payments for the lost resale value of vehicles. Superior Court Justice Kenneth Salinger &#...
Posted: Jun 07, 2024
Three Massachusetts drivers have hit a dead end for the second time in their drive for court certification of class actions against two auto insurers over missing payments for the lost resale value of vehicles. Superior Court Justice Kenneth Salinger...
Posted: Jun 07, 2024
A large cargo ship lost control of its engines and went nearly full throttle through a South Carolina harbor Wednesday, prompting the closure of one of the busiest bridges in the state. Harbor pilots were able to help the nearly …
Posted: Jun 07, 2024
The recent severe weather events in South Africa’s Southern and Eastern regions since June 1 continue to test insurers’ ability to adapt to climate change, according to S&P Global Ratings. Heavy rainfall and flooding in parts of the East...
Posted: Jun 07, 2024
Brown & Brown, Inc. announced it has acquired the assets of McNamara Company. McNamara Company is a family-owned agency that has been servicing customers in all 50 states for four generations. Established in 1970 in Minnesota, McNamara Company pr...
Posted: Jun 07, 2024
Chubb, a global property and casualty insurance company, has announced the appointment of David Kirk as Division President of Chubb Global Markets, which encompasses the company’s London Market wholesale and specialty business, including its...
Posted: Jun 07, 2024
Private equity firm NexPhase has invested in Insurance Systems Inc. (ISI), a Canada-based provider of enterprise software solutions to the P&C insurance industry, to support the company’s continued growth in its existing markets. The investmen...
Posted: Jun 07, 2024
The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services –...
Posted: Jun 07, 2024
The U.S. property & casualty (P&C) industry recorded a $9.3 billion net underwriting gain in the first quarter of 2024, marking a substantial improvement from the $8.5 billion loss recorded in the prior year period, according to global rat...
Posted: Jun 07, 2024
The Geneva Association has revealed that Lee Yuan Siong, Group Chief Executive and President of AIA, was appointed Chairman of the organisation at its spring 2024 board meeting on 5 June, succeeding outgoing Chairman Christian Mumenthaler, CEO of...
Posted: Jun 07, 2024
Nirvana, the London-based managing general agent and Lloyd’s coverholder, announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £/$/€10 million media liability line. Effective o...
Posted: Jun 07, 2024
Guidewire, a platform provider for property and casualty (P&C) re/insurers, has made a considerable investment towards a $19 million funding round for Indico Data, a firm which automates critical workflows for enterprises in document-intensive...
Posted: Jun 07, 2024
A statistical rise in public sector workplace violence has led some in the workers' compensation space to review the protections and safety protocols in place for these vulnerable workers. The post
Posted: Jun 07, 2024
This edition of International People Moves details appointments at Ascot Underwriting Ltd. and Ascot Bermuda, along with The Geneva Association. A summary of these new hires follows here. Ascot Group Ltd., the Bermuda-based global specialty insurance...
Posted: Jun 07, 2024
Helios has revealed that Martin Reith has stepped down from his role as Chief Executive Officer. Michael Wade, currently Non-Executive Chairman, will immediately become Executive Chairman as the search for Reith’s successor begins. Meanwhile...
Posted: Jun 07, 2024
Lockton Re, the reinsurance arm of independent insurance broker, Lockton, has appointed James Mackay in a new role as the Head of Lloyd’s Capital, based in London. Robert Bisset, Chairman of Global Retrocession & Property Specialty, Bermuda, a...
Posted: Jun 07, 2024
Amazon is facing a one billion-pound ($1.3 billion) collective lawsuit from British retailers who allege that the online marketplace misused their data to boost its own market share and profits. The British Independent Retailers Association (BIRA), a...
Posted: Jun 07, 2024
The SME broking platform of The Ardonagh Group, Ardonagh Advisory, has acquired BP Insurance Brokers (BPIB), a provider of commercial and personal insurance services based the UK. Ardonagh Advisory includes brands such as Bravo Networks, Footman J...
Posted: Jun 07, 2024