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Insurance Business Magazine - US
Posted: May 20, 2024
National multi-line managing general agent (MGA), Paragon Insurance Holdings LLC, has entered into a partnership with Ascot Group, which is set to leverage both of the organisations strengths and capacities. In its first program partnership, Ascot...
Posted: May 20, 2024
The range of medical products and services needed for injured worker recovery is broad and the opportunities for fraud, waste, and abuse in workers’ comp healthcare are many. The post
Posted: May 20, 2024
Drugs regularly used to manage pain in adult populations may carry greater risks for teens. The post Grow...
Posted: May 20, 2024
A section of California’s scenic Highway 1 leading to the famous Big Sur coast reopened to around-the-clock traffic Friday after stabilization of a storm-triggered rockslide that dropped a chunk of one lane into the ocean and hampered tourism....
Posted: May 20, 2024
A decades-old landslide that’s rapidly accelerating has forced the dismantling of Wayfarers Chapel, an iconic Southern California church that was designed by one of famed architect Frank Lloyd Wright’s sons and built among soaring redwood...
Posted: May 20, 2024
Psychosocial factors impacting injured workers’ mental and behavioral health can be a barrier to recovery. Addressing concerns early with psychosocial treatments can positively affect a claim. The post
Posted: May 20, 2024
Officials credited a smoke inhalation drug for likely saving the life of a New York City firefighter who fell unconscious and stopped breathing while battling a house blaze Friday. The firefighter was one of three injured during the response in ̷...
Posted: May 20, 2024
The increasing frequency of climate-related events in the US is driving up insurance premiums in certain areas, but it’s unclear how this affects home prices and affordability, prompting the need for further analysis, according to analysts a...
Posted: May 20, 2024
Novel migraine agents are continuing to enter the market, providing alternative forms of pain relief for migraine sufferers. What are the efficacy and cost considerations for injured workers? The post
Posted: May 20, 2024
A part of Brown & Brown’s wholesale insurance group has acquired Public Entities of America LLC, a brokerage based in Alpharetta, Georgia, that has catered to the public sector and risk management marketplace. PEA will now be part of Apex &...
Posted: May 20, 2024
Howden has acquired MiCRO, a microinsurance specialist that designs and implements parametric insurance coverage for underserved populations in Latin America against natural catastrophes. MiCRO was founded by Mercy Corps and Fonkoze in the afterma...
Posted: May 20, 2024
For Filicia Porter, the insurance bills were the final straw. They’d been climbing steeply for her assisted-living business as Florida was battered with ever more-powerful storms, and eventually, the numbers stopped adding up. So in March, she...
Posted: May 20, 2024
TUSCALOOSA, Ala. (AP) — A decisive vote against the United Auto Workers union at two Mercedes factories in Alabama on Friday sidetracked the UAW’s grand plan to sign up workers at nonunion plants mainly in the South. But newly elected …
Posted: May 20, 2024
Bermuda-based specialty re/insurer Sompo International Holdings has reported that the financial year 2023 combined ratio for commercial property & casualty (P&C) improved to 91.8% from 92.5%, driven by improved accident year loss ratios an...
Posted: May 20, 2024
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024. According to The Council of Insurance Agents and Brokers’ Q1 Market Survey, the 7.7% average increase in Q1 com...
Posted: May 20, 2024
Laura Brahams ascends to Head of Third-Party Claims at Arch Insurance International following Barbara Rizzi’s elevation to Chief Claims Officer. Taking on her new position, Brahams will oversee various sectors including casualty, cyber, financial...
Posted: May 20, 2024
MS Amlin has reported a 2023 net income of £509 million, marking an increase of £316 million from 2022, while its combined ratio fell 7.6 points to 89.5%. The firm noted that its improved net income in 2023 also included the positive impact of £75...
Posted: May 20, 2024
A former chief corporate officer for NEXT Insurance is accusing the company and its chief executive officer of gender and disability discrimination in the workplace and of firing her in retaliation for her request for medical leave for cancer surgery...
Posted: May 20, 2024
Ocean International Reinsurance Company Ltd. (Ocean Re) has appointed Neil Bramley as the Global Head of Treaty Underwriting, based out of London. Bramley is a market veteran with over 24 years of experience. Prior to this role, he served as a Spe...
Posted: May 20, 2024
Tokio Marine Holdings’ international business has reported a 99.8% increase in profits for 2023, at JPY 436.9 billion, which the company attributes towards a strong underwriting result, as well as investment income, and the reversal of the i...
Posted: May 20, 2024
Brokerslink has appointed Alexandra Littlejohn, the Executive Vice President and Managing Director at Alliant Retail Property & Casualty, to its Board of Directors. Littlejohn replaces Jamie Crystal as Alliant’s nominated member on the Brokers...
Posted: May 20, 2024
Safety first, today, tomorrow, always. Progress without worker pain is possible, whatever comes our way next. The post
Posted: May 20, 2024
With Beazley securing an additional $160 million of reinsurance with its second 144A cyber catastrophe bond, PoleStar Re Ltd. (Series 2024-2), as we reported last Friday, Theo Norris, Head of Cyber ILS, Gallagher Securities, has said that there is...
Posted: May 20, 2024
A scenic fishing village in southwestern England was under instructions to boil its tap water for a third day on Friday after a parasite sickened more than 45 people in the latest example of Britain’s troubled water system. Around 16,000 …...
Posted: May 20, 2024
MS Reinsurance has revealed that against a backdrop of significant loss activity, continued inflation and geopolitical uncertainties, it still produced a net profit of $366 million for the full year 2023, much improved from a net loss of $50 milli...
Posted: May 20, 2024
Zimbabwe will get over half of an expected $60 million insurance pay out meant for four African nations as it reels from the impact of El Niño-induced drought that’s already slashed corn output and led to a state of disaster …
Posted: May 20, 2024
In 2023, there was a notable increase in registered deaths in England and Wales, highlighting the emerging challenge of longevity volatility for pension schemes. Recent data from the Office for National Statistics (ONS) reveals that the number of...
Posted: May 20, 2024
A China-bound oil tanker in the Red Sea was struck and temporarily disabled by a ballistic anti-ship missile fired by Houthi militants, the US Central Command said. The strike Saturday on the Greek-owned M/T Wind caused flooding that knocked out R...
Posted: May 20, 2024
Concirrus, a provider of insurance intelligence, has appointed Ruth Polyblank as the Director of Product Strategy. In her new role, Polyblank’s remit will include spearheading Concirrus’ product vision and innovation strategy. As an in...
Posted: May 20, 2024
Caroline Wagstaff, CEO of the London Market Group (LMG), has observed that if London is to remain the place where the world brings its risks, action must be taken at both a firm and market level to make specialty insurance a destination career for...
Posted: May 20, 2024
GALVESTON, Texas (AP) — Early estimates indicate up to 2,000 gallons of oil may have spilled into surrounding waters when a barge carrying fuel broke free from a tugboat and slammed into a bridge near Galveston, Texas, the U.S. Coast …
Posted: May 20, 2024
Dozens of tankers remain stuck doing nothing months after being sanctioned by the Treasury Department — a signal of the US’s scope to disrupt Moscow’s petroleum supply chain if it chooses to. Since October, 40 ships involved in RussiaR...
Posted: May 20, 2024
The UK has accelerated its lead as the most attractive destination for financial services investment foreign direct investment (FDI) into financial services over other European markets, according to EY’s latest Attractiveness Survey for Financial...
Posted: May 20, 2024
Bermuda domiciled re/insurer, Hamilton Insurance Group, Ltd., has received a revised outlook for its credit ratings from AM Best from stable to positive. The ratings agency has also upgraded the Financial Strength Rating to “A” (Excellent) from “A...
Posted: May 20, 2024
Applied Systems Europe has announced an expanded partnership with Bravo Networks in order to support client money management for Applied Epic brokers. According to the announcement, the partnership has enabled Applied Systems to complete architect...
Posted: May 20, 2024
Farmers Insurance has plans to resume accepting new business commercial multi-peril applications for auto service & repair, habitational, manufacturing, real estate and wholesale distribution policies in California, effective August 1st, 2024....
Posted: May 20, 2024
LANSING, Mich. (AP) — Six men working as part of a criminal organization in Michigan have been arrested in connection with the theft of more than 400 vehicles worth about $8 million, authorities said last week. The men, between the …
Posted: May 20, 2024
HOUSTON (AP) — As the Houston area works to clean up and restore power to hundreds of thousands after deadly storms left at least seven people dead, it will do so amid a smog warning and scorching temperatures that could …
Posted: May 20, 2024
Earnix, a provider of AI-based SaaS solutions, has partnered with Exavalu, an insurance digital advisory and system integration consulting firm, to help property and casualty (P&C) insurance carriers modernise pricing and rating flexibility. I...
Posted: May 20, 2024
General Motors and South Korea’s LG Electronics reached a settlement to establish a $150 million fund to provide relief to Chevrolet Bolt EV owners affected by defective batteries, documents filed in a U.S. court on Thursday showed. General Mot...
Posted: May 20, 2024
The U.S. Supreme Court’s decision safeguarding the Consumer Financial Protection Bureau—the nation’s consumer finance watchdog—earned plaudits from supporters of robust federal regulation. But their praise for the court may prove short-li...
Posted: May 20, 2024
The U.S. Supreme Court’s decision safeguarding the Consumer Financial Protection Bureau—the nation’s consumer finance watchdog—earned plaudits from supporters of robust federal regulation. But their praise for the court may prove short-li...
Posted: May 20, 2024
The U.S. Coast Guard said it is evaluating whether other bridges nationwide are at risk after a cargo ship crashed into the Francis Scott Key Bridge in Baltimore in March, killing six people and destroying the Patapsco River crossing. Coast …
Posted: May 20, 2024
Corey Neal took over as executive director of the Florida Insurance Guaranty Association in early 2022, at the height of what many would say were some of the darkest days for the Florida property/casualty market. Two carriers had just been …
Posted: May 20, 2024