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Aon’s Strategy and Technology Group (STG) has identified more than $20bn in potential premium growth by 2030 related to environmental megatrends, and has highlighted the importance of understanding the climate risks and opportunities to help clien...
Posted: May 24, 2024
Katie McGrath discusses ongoing and emerging trends in the insurance industry, the potential of an AI insurance market and the challenges of modeling the costs of cyberattacks. The post
Posted: May 24, 2024
Katie McGrath discusses ongoing and emerging trends in the insurance industry, the potential of an AI insurance market and the challenges of modeling the costs of cyberattacks. The post
Posted: May 24, 2024
Marco Capital Holdings Limited, a European provider of legacy solutions to the non-life insurance and reinsurance market, has reported a pre-tax profit of $51,403 for the full year 2023, an improvement from the loss of $18,819 seen a year earlier,...
Posted: May 24, 2024
The California Senate approved a bipartisan package of 15 bills this that would increase penalties for organized crime rings, expand drug court programs and close a legal loophole to make it easier to prosecute auto thefts. One proposal would require...
Posted: May 24, 2024
The recent series of severe convective storm systems that hit the southern and eastern United States from May 16-22 are expected to cause economic and insured losses amounting to billions of USD, according to Aon’s weekly catastrophe report. Aon r...
Posted: May 24, 2024
Water is leaking into an underground nuclear waste facility in Germany creating fears about toxic contamination of groundwater and highlighting the legacy that the shuttered nuclear industry has left behind. The operator of the storage site says that...
Posted: May 24, 2024
Insurance brokerage, World Insurance Associates, has hired 20-year industry veteran Thaddeus Woosley as its new executive vice president, head of national practice groups. In his new role, Woosley is expected to support the continued growth of the...
Posted: May 24, 2024
According to the 2024 Global Food and Beverage Risk Outlook published by WTW, a global advisory, broking, and solutions company, nearly half (48 percent) of food and drink companies identified business interruption as the biggest internal risk to...
Posted: May 24, 2024
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI) and the software developer Broker Insights. BHSI Names Riley to Lead Casualty Business in Canada as DeSouza Retires Berkshire Hathaway Sp...
Posted: May 24, 2024
Broker Insights announces the appointment of Peter Scott as Chief Executive Officer(CEO), taking over the role of Fraser Edmond who has been named President, as the company gets ready to accelerate its UK and US expansion. Scott will start his new...
Posted: May 24, 2024
Philippe Brahin, Head Americas for Public Sector Solutions at Swiss Re, emphasises the need for a holistic approach to managing increasing natural catastrophe risks in order to enhance the accessibility and affordability of insurance. The Swiss Re...
Posted: May 24, 2024
Though A.M. Best remains bullish on the delegated underwriting authority enterprises (DUAEs) market, it remains cautious of the risk managing general agents (MGAs) bring to insurers. In its latest market segment report, the rating agency said “...
Posted: May 24, 2024
Women in Reinsurance (WiRe), an organisation dedicated to promoting the professional development of women working in Bermuda’s reinsurance market, has announced a series of appointments to its board of directors. The company has added Natash...
Posted: May 24, 2024
Canada released its first-ever cybersecurity strategy for federal government departments and agencies on Wednesday, with the aim of addressing challenges posed by remote work, cloud computing, aging infrastructure and recruitment. The strategy, annou...
Posted: May 24, 2024
Global broking business, Brokerslink, has added a new specialist affiliate, Air Courtage Assurances, to its network. Air Courtage Assurances is a French brokerage firm that manages exclusively aviation-related risks and operates in France, Switzer...
Posted: May 24, 2024
With weight loss medications coming into demand, could there be a place in workers' compensation to utilize these drugs to help injured workers? The post
Posted: May 24, 2024
Airbus is showing off an unusual vehicle – a truck fitted with basic A350 airliner controls – that it hopes can demonstrate how automated taxiing will make airports safer as concern grows over a spate of jetliners colliding on the …
Posted: May 24, 2024
Coaction Specialty Insurance Group, a privately-owned, specialty P&C insurer, has named former Ascot Re executive, John Berger as Chairman of the Board, effective immediately. Berger replaces previous Chairman Stan Galanski, who has held the p...
Posted: May 24, 2024
Singapore’s Income Insurance Ltd. is exploring options as it looks to expand across the Asia Pacific region, including possibly tying up with a partner or selling a stake, according to people familiar with the matter. While Income Insurance has...
Posted: May 24, 2024
Lockton, an independent insurance broker, has appointed Brendan Fitzpatrick as Vice President (VP), Cyber Risk Consultant, to strengthen its Cyber & Technology Practice. In his new role, Fitzpatrick will assist Lockton’s clients in under...
Posted: May 24, 2024
JEFFERSON CITY, Mo. (AP) — After failing in several U.S. states this year, global chemical manufacturer Bayer said Tuesday that it plans to amplify efforts to create a legal shield against a proliferation of lawsuits alleging it failed to warn …...
Posted: May 24, 2024
Generative AI has enabled people to create images and content faster than ever before. Employers must remain vigilant should an employee choose to create nefarious and harassing content of their coworkers. The post
Posted: May 24, 2024
As per Legal & General’s Pension Risk Transfer (PRT) Monitor, 2024 has started strong for the US PRT market, with Q1 closing at an estimated $15 billion, the largest opening quarter on record. According to the firm, Q1 2024 significantly...
Posted: May 24, 2024
Posted: May 24, 2024
Managing general agent (MGA) Specialty MGA UK has expanded its expertise with the appointment of 40-year industry veteran, Jonathan Wingett, as Senior Underwriter for Agriculture. Wingett is a renowned reinsurance underwriter and broker who has sp...
Posted: May 24, 2024
Allianz is the lead insurer for the Singapore Airlines aircraft which left one person dead and scores injured after it hit severe turbulence and had to be diverted to Bangkok this week, two sources said on Thursday. The sources familiar …
Posted: May 24, 2024
In the City of London, executives are looking forward to the imminent general election as a chance for clarity after a turbulent few years. Matthew Beesley, chief executive officer at Jupiter Fund Management Plc, said markets are not afraid of …...
Posted: May 24, 2024
Frequency and severity of natural disasters, economic conditions, rising construction costs and litigation over the last 20 years have been the drivers of homeowners insurance becoming less affordable, according to a recent report. The Insurance R...
Posted: May 24, 2024
Bermuda-domiciled re/insurer SiriusPoint Ltd. has appointed Jim McKinney as its new Chief Financial Officer (CFO), effective June 3rd, 2024. McKinney replaces current CFO Steve Yendall, and will have a direct reporting line to CEO Scott Egan, as a...
Posted: May 24, 2024
Paul Fahey, Chief Executive Officer of Hollard Holdings Australia and its insurer subsidiaries, has been appointed as a non-executive director of The Board of the Insurance Council of Australia (ICA). Fahey, who joined Hollard in 2016 and was prev...
Posted: May 24, 2024
World Insurance Associates Names Woosley EVP, Head of National Practice Groups World Insurance Associates LLC, headquartered in Iselin, New Jersey, named Thaddeus Woosley as executive vice president and head of national practice groups. Woosley is ba...
Posted: May 24, 2024
NEW ORLEANS (AP) — Two shipping companies agreed to pay $2 million in penalties after pleading guilty to federal charges related to the dumping of oil in the Atlantic Ocean by a ship bound for New Orleans last year. The …
Posted: May 24, 2024
London domiciled Vitesse, a global insurance fintech, has completed a $93 million Series C funding round led by global investment firm, KKR, subject to customary regulatory approvals. Existing investors who participated included Hannover Digital I...
Posted: May 24, 2024
OKLAHOMA CITY (AP) — A wind farm in southwest Iowa suffered a direct hit from a powerful tornado that crumpled five of the massive, power-producing towers, including one that burst into flames. But experts say fortunately such incidents are rare. ...
Posted: May 24, 2024
LITTLE ROCK, Ark. (AP) — A jury has ruled against a Black couple who sued a Little Rock steakhouse over a fight the couple had with white customers who weren’t wearing masks and stood too close during the COVID-19 pandemic. …
Posted: May 24, 2024
AUB Group, the Australian equity-backed insurance broker network, has entered into an agreement to acquire a 70% equity stake in Pacific Indemnity, a specialty underwriting agency based in Australia. According to the announcement, the investment i...
Posted: May 24, 2024
A jury in Chicago on Thursday rejected an Illinois woman’s claim that the now discontinued heartburn drug Zantac caused her colon cancer, in the first trial out of thousands of lawsuits making similar allegations. The jury in Cook County, Illin...
Posted: May 24, 2024
U.S. planemaker Boeing faces a “long road” to address safety issues, the head of the Federal Aviation Administration said on Thursday as it prepares to receive the company’s plan to address concerns. In late February, FAA Administra...
Posted: May 24, 2024
CHARLESTON, W.Va. (AP) — A coal mine in West Virginia had a long history of safety violations before a miner was fatally injured this week operating an excavator, according to local news reports. Virgil Paynter, of Lynco, was operating an …
Posted: May 24, 2024
Fire departments across the state are reevaluating their emergency communication capabilities after the Maui wildfires, when the vulnerability of the island’s cellular network — and a lack of advanced communication tools in fire vehicles — comp...
Posted: May 24, 2024
SAIF Promotes Graneto to Chief Financial Officer SAIF, headquartered in Salem, Oregon, promoted Todd Graneto to chief financial officer. In his new role, Graneto will be responsible for the financial services division, including financial reporting,...
Posted: May 24, 2024
The family of the youngest person ever executed in the state of Pennsylvania — a Black 16-year-old sent to the electric chair in 1931 and exonerated by the governor in 2022 — is suing the county that prosecuted him. Alexander …
Posted: May 24, 2024
The Prospect Park Zoo in Brooklyn, New York City is re-opening to the public on Saturday, May 25, after being closed for almost eight months due to extensive flood damage to its facilities and infrastructure. The flooding occurred as a …
Posted: May 24, 2024