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An increasingly hostile society necessitates a more alert approach to public sector risk management. The post
Posted: May 16, 2024
Geopolitical tensions and a raft of elections around the world are heightening the risk that investors will be jolted by negative surprises and endanger financial stability, the European Central Bank warned. Markets have so far taken a relaxed view o...
Posted: May 16, 2024
MIB has reached an agreement with Crump Life Insurance Services, LLC to acquire RiskRighter, LLC, a provider of underwriting services to insurance carriers, distribution agencies and other businesses across the life insurance sector. Andrea Caruso...
Posted: May 16, 2024
CatX, the digital marketplace that connects re/insurers and brokers with alternative capital, has launched a stand-alone artificial intelligence-powered tool called Catamaran for the creation and analysis of reinsurance submissions. According to t...
Posted: May 16, 2024
Zurich Insurance Group has reported that Q1 2024 P&C insurance revenue was up 12% on a like-for-like basis to $10.25 billion, driven by strong commercial and retail growth. In commercial, rates improved across all regions with an average of 5%...
Posted: May 16, 2024
Posted: May 16, 2024
Patents for Sale? State Fa...
Posted: May 16, 2024
Buffett’s Berkshire Reveals $6.7B Stake in Insurer Chubb Warren Buffett's Berkshire H...
Posted: May 16, 2024
Posted: May 16, 2024
Today, Swiss Re announced the appointment of Ivan Gonzalez, currently CEO Reinsurance China, as the new CEO of Corporate Solutions, effective July 1, 2024, replacing Andreas Berger. Gonzalez will also join the Group Executive Committee concurrentl...
Posted: May 16, 2024
Following the recent closure of Brookfield Reinsurance’s acquisition of American Equity Investment Life Holding Company (AEL), the strategy for subsidiary North End Re (Cayman) SPC (NERC) is under review by AM Best. The rating agency has placed NE...
Posted: May 16, 2024
Zurich Insurance Group AG said revenue from property and casualty insurance rose 12% in the first quarter on a like-for-like basis, helped by higher premiums. Gross written premiums in the business rose 9% from a year earlier, as Asia and …
Posted: May 16, 2024
The unofficial capital of Canada’s oil-sands industry is now facing a second wildfire that’s north of the city and closer to major energy operations. The new blaze near Fort McMurray, Alberta, is about 3 hectares (7 acres) in size, and &#...
Posted: May 16, 2024
Reinsurance giant Swiss Re has announced net income of $1.1 billion and a return on equity (ROE) of 21.3% for the first quarter of 2024, as property and casualty reinsurance net income hit $552 million with a combined ratio of 84.7%. For Q1 2024,...
Posted: May 16, 2024
WTW, a global insurance and reinsurance broker, observes that the cyber insurance market has remained stable in 2024, however, there’s a potential shift towards a firmer market later this year due to recent cyber events and the expanding cyb...
Posted: May 16, 2024
Lloyd’s global insurer and reinsurer MS Amlin has announced the appointment of Samantha Smithson-Biggs as Head of Operational Transformation. In her new role she will help MS Amlin to further improve its technology and services, to ensure th...
Posted: May 16, 2024
The U.S. government has a specialized plane loaded with advanced sensors that officials brag is always ready to deploy within an hour of any kind of chemical disaster. But the plane didn’t fly over eastern Ohio until four days after …
Posted: May 16, 2024
HOUSTON (AP) — The one remaining wrongful death lawsuit filed after 10 people were killed during a deadly crowd crush at the 2021 Astroworld music festival has been set for trial in civil court in September, a judge said Tuesday. …
Posted: May 16, 2024
The risk of power failures this summer remains elevated for many parts of North America amid soaring demand and generator shutdowns. The main Texas grid is especially vulnerable at sunset when solar generation plunges and demand remains high, with th...
Posted: May 16, 2024
Front Street Re, an operating subsidiary of Lexasure Financial Group Limited headquartered in Georgetown, Cayman Islands, appointed Edison Fong as CEO. Before joining Front Street Re, Fong was a director at Converge Re and an actuary at Manulife Fina...
Posted: May 16, 2024
Front Street Re, an operating subsidiary of Lexasure Financial Group Limited headquartered in Georgetown, Cayman Islands, appointed Edison Fong as CEO. Before joining Front Street Re, Fong was a director at Converge Re and an actuary at Manulife Fina...
Posted: May 16, 2024
The U.S. property & casualty (P&C) industry saw its second consecutive year of underwriting losses, with a net combined ratio of 101.6% for 2023. While there was improvement from 2022, personal lines still remained the major driver of unpr...
Posted: May 16, 2024
New York’s St. John’s University announced the appointment of Henry “Hank” Watkins Jr., regional director and president of the Americas at Lloyd’s, as executive director and associate dean of the Maurice R. Greenberg Sch...
Posted: May 16, 2024
A bipartisan group of U.S. senators, including Majority Leader Chuck Schumer, called on Wednesday for a big jump in government research funding of artificial intelligence as they debate new legal safeguards. Generative AI—which can create text, photo...
Posted: May 16, 2024
XPT Specialty, headquartered in Barre, Vermont, appointed Suzette Torres as vice president of personal lines. She will help expand the company’s offerings for retail agencies selling specialty products like personal lines property, umbrellas, a...
Posted: May 16, 2024
Today, Applied Systems Europe announced the launch of Arch Insurance’s specialised property owners’ insurance product on its commercial e-trading panel. Tony Silve, VP, National Director, Arch Online, said: “We are delighted to offer Applied...
Posted: May 16, 2024
A trial is underway in Virginia that will determine whether state law allows frozen embryos to be considered property that can be divided up and assigned a monetary value. Fairfax County Circuit Court Judge Dontae Bugg heard arguments last Thursday &...
Posted: May 16, 2024
The Maine Bureau of Insurance has approved a 15.7% average rate reduction in workers’ compensation insurance premiums for Maine Employers’ Mutual Insurance Co. (MEMIC), the largest workers’ compensation carrier in the state. The bur...
Posted: May 16, 2024
BenefitMall appointed Xavier Montes to its individual and senior division (ISD) as the new broker sales executive for California. Montes is based in Whittier, California. Montes has over 25 years of experience in the insurance industry, specializing...
Posted: May 16, 2024
Connecticut has established a Fallen Officer Fund, which will provide $100,000 to the surviving family members or beneficiaries of any Connecticut local or state police officer killed in the line of duty or who sustained injuries that were the direct...
Posted: May 16, 2024
Prompt, comprehensive physical therapy is shown to drive down costs and help injured workers get back on the job. Recovery+ enhances in-person therapy with a biopsychosocial model designed to help do just that. The post
Posted: May 15, 2024
Warren Buffett’s Berkshire Hathaway Inc. unveiled a $6.7 billion stake in insurer Chubb Ltd., ending months of suspense over its mystery position in a financial firm, previously kept concealed in regulatory filings. Berkshire disclosed the hold...
Posted: May 15, 2024
Georgia Farm Bureau and Nodak Insurance have extended their use of CCC solutions to help them accelerate auto claims resolutions and improive experiences for claimants and employees.
Posted: May 15, 2024
The latest research by Liberty Mutual and Safeco explores how the hard insurance market is impacting both agents and customers and discusses the opportunities that exist for agents to improve customer satisfaction and retention.
Posted: May 15, 2024
The five-year, multimillion dollar collaboration focuses on research on the future of longevity innovation to drive actionable insights for business, policymakers, families and individuals.
Posted: May 15, 2024
Carmichael succeeds Patricia Kocsondy, who assumed the role of Beazley’s Head of Global Cyber Digital Risks in January.
Posted: May 15, 2024
Cover Genius operates in several countries and it focuses on the embedded space.
Posted: May 15, 2024
A New York Times article this week reported troubles in Iowa and insurers pulling up stakes from the Hawkeye State, leaving the homeowners’ insurance market. The exits were prompted by horrendous financial results driven by off the charts weath...
Posted: May 15, 2024
Insurance Business Magazine - US
Posted: May 15, 2024
Insurance Business Magazine - US
Posted: May 15, 2024