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Oregon Utility Regulator Rejects PacifiCorp Request to Limit Liability in Wildfire Suits

Insurance Journal

Oregon utility regulators have rejected a request from PacifiCorp that sought to limit its liability in wildfire lawsuits. Under the proposal, PacifiCorp would only have been responsible for paying out actual economic damages in lawsuit awards. The c...

Posted: Jun 04, 2024

IRB (Re) reports improved net income and combined ratio

Reinsurance News

Brazilian reinsurer IRB (Re) has announced its first quarter of 2024 financial result, reporting an improved net income of around USD 15 million (R$ 79.1mn) as well as an underwriting profit of around USD 23 million (R$ 122.4mn), and a combined ra...

Posted: Jun 04, 2024

University to Pay $9 Million Over Campus Shooting That Killed 3, Wounded 2

Insurance Journal

The University of Virginia will pay $9 million in a settlement related to a 2022 campus shooting that killed three football players and wounded two students, a lawyer representing some of the victims and their families said last Friday. But …

Posted: Jun 04, 2024

People Moves: IMA Financial Group Adds Hennessey as EVP, Regional Sales Leader

Insurance Journal

IMA Financial Group, Inc. named Matt Hennessey executive vice president, Pacific Northwest region sales leader of Parker, Smith & Feek. Hennessey will be based in Seattle and work out of the Bellevue office. Hennessey has nearly 30 years of insur...

Posted: Jun 04, 2024

Parametrics Have Emerged As a Valued CAT Risk Transfer Solution. Here’s What’s Next As the Market Co...

Risk & Insurance

During the tough property markets of recent years, parametrics grew in popularity. Now, even as the market stabilizes, they’re proving their staying power. The post

Posted: Jun 03, 2024

What Innovation Actually Looks Like

Insurance Thought Leadership

What Innovation Actually Looks Like PaulCarroll

Posted: Jun 03, 2024

Denial of House Fire Claim Upheld. Insureds Never Knew Their Policy Was Nonrenewed.

Carrier Management

Denial of House Fire Claim Upheld. Insureds Never Knew Their Policy Was...

Posted: Jun 03, 2024

RiverStone acquires Electric Insurance Company

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RiverStone is an acquirer and reinsurer specializing in legacy and discontinued insurance business.

Posted: Jun 03, 2024

Loadsure enters European market

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The company will primarily focus on the Benelux region, Germany, France, Denmark, Norway, Finland, and Sweden.

Posted: Jun 03, 2024

Cloud Considerations in Insurance: Critical Factors for Adoption & Success

IIR

Cloud is the ultimate expression of technology’s promise to drive efficiency and accelerate the speed of doing business, all while reducing costs. Each new technical paradigm, iteration, and transformation must deliver on this promise, otherwise it’s...

Posted: Jun 03, 2024

Top 5 Most-Read Articles in Independent Agent in May

IA Magazine

From the postponement of Fannie Mae and Freddie Mac guidance to the ramifications of the Federal Trade Commission (FTC) rule prohibiting most noncompete agreements, May articles provided thought-leading analysis.

Posted: Jun 03, 2024

AccuWeather: Year’s First Big Heatwave Raises Wildfire Risk in West

Insurance Journal

Severe heat will raise the risk of brush and grassfires from central and northern California, also bringing a moderate to and high risk of wildfires in parts of Arizona and New Mexico, a forecast out on Monday shows. The first …

Posted: Jun 03, 2024

Inszone Insurance acquires John Henry Insurance

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John Henry Insurance was established in 2003.

Posted: Jun 03, 2024

Nassau Financial and Golub Capital announce strategic partnership

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The transaction is expected to close in the second half of 2024.

Posted: Jun 03, 2024

Principal announces new 12-month Apprentice Program

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Apprentices are being hired into roles in operations, customer service, and sales administration at Principal global headquarters in Des Moines.

Posted: Jun 03, 2024

Another direct life insurer bites the dust

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RiverStone is an acquirer and reinsurer specializing in legacy and discontinued insurance business.

Posted: Jun 03, 2024

Everest launches Mexico operations

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The entity will be headquartered in Mexico City.

Posted: Jun 03, 2024

Inszone Insurance acquires T Blackwell Insurance Group

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T Blackwell Insurance Group was founded in 2012.

Posted: Jun 03, 2024

German American Bancorp sells insurance business to Hilb Group

coverager

German American Insurance will continue to operate throughout southern Indiana and Kentucky.

Posted: Jun 03, 2024

Independence Pet Holdings acquires Spot Pet Insurance

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Spot offers dog and cat insurance plans in the United States and Canada.

Posted: Jun 03, 2024

Zurich UK consolidates commercial and retail distribution teams

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These changes do not impact their Customer Team.

Posted: Jun 03, 2024

Allianz Partners and Cosmo Connected announce partnership

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Cosmo Connected is a French startup that offers connected helmets.

Posted: Jun 03, 2024

Great American Insurance Group partners with Amwins Program Underwriters

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The relationship with APU provides Great American with access to new distribution and revenue streams.

Posted: Jun 03, 2024

Sentry partners with Falvey Insurance Group to expand into marine cargo

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Falvey is a niche MGA offering several property and casualty solutions focused on the supply chain and trade.

Posted: Jun 03, 2024

Liberty Mutual launches dedicated practice for mid-size life sciences companies

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The company appointed industry-veteran Tory Agnich Chief Underwriting Officer, Middle Market Life Sciences.

Posted: Jun 03, 2024

Marsh McLennan Agency acquires Perkins Insurance Agencies

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Financial details of the transaction were not disclosed. 

Posted: Jun 03, 2024

The $90 Trillion Wealth Transfer

Insurance Thought Leadership

The $90 Trillion Wealth Transfer Life & Health sradomski

Posted: Jun 03, 2024

June ITL Focus: Life & Health

Insurance Thought Leadership

June ITL Focus: Life & Health Life & Health sradomski

Posted: Jun 03, 2024

Sentry Expands to Marine Cargo With Falvey Partnership

Insurance Journal

Sentry Insurance announced it has partnered with Falvey Insurance Group to offer admitted and non-admitted marine cargo capacity to Falvey’s broker partners. Falvey is a niche leading MGA offering several property and casualty solutions focused...

Posted: Jun 03, 2024

The rise of private credit in life insurers’ investment strategies: Moodys

Reinsurance News

The growing use of private credit by life insurers to optimise investment portfolios and align asset allocation with product liabilities is garnering heightened attention from regulators globally, including those highlighted in a recent report by...

Posted: Jun 03, 2024

Insurance Council of Texas Offers Tips for Hurricane Preparation

Insurance Journal

With June marking the start of 2024 Atlantic Hurricane Season, the Insurance Council of Texas (ICT) is reminding residents of steps to take to prepare for hurricanes. The National Oceanic and Atmosphere Administration (NOAA) has predicted an above-av...

Posted: Jun 03, 2024

Louisiana Law That Limits Filming of Police Violates First Amendment, Attorneys Say

Insurance Journal

A new Louisiana law that makes it a crime to approach within 25 feet (7.6 meters) of a police officer under certain circumstances is an affront to the movement for racial justice and violates the First Amendment, civil rights attorneys …

Posted: Jun 03, 2024

Kansas Workers’ Comp Bill Increases Some Benefits, Streamlines Processes

Insurance Journal

Kansas Governor Laura Kelly last week signed Senate Bill 430, bipartisan legislation making comprehensive reforms to the state’s workers compensation system. The bill, a result of collaboration between business and labor, provides coverage for...

Posted: Jun 03, 2024

Itasca MGA supports Virgin Atlantic with delivering its final A350-1000 aircraft

Reinsurance News

Itasca MGA Limited, a specialist aviation-focused managing general agent (MGA) has supported Virgin Atlantic for an insurance-backed financing solution for delivering its final A350-1000 aircraft. The MGA stated that the policy underwritten by the...

Posted: Jun 03, 2024