All Posts
MiCAssure is a new and proprietary insurance solution for crypto-asset service providers.
Posted: May 09, 2024
Insurance and reinsurance broker McGill and Partners has announced the appointment of Amy Kimber to Partner in the firm’s Marine and Cargo team. Kimber has been part of McGill and Partners since 2019, when she joined as an Associate. During this t...
Posted: May 09, 2024
In a recent interview with Reinsurance News, Adam Denninger, Global Insurance Industry Leader at Capgemini, emphasised the critical role of AI integration in underwriting practices, while acknowledging insurers’ likely cautious approach due...
Posted: May 09, 2024
Qatar Insurance Company, a large insurer in Qatar and the Middle East North Africa region, has reported a net profit of QAR 194 million (USD 53m) for the first quarter of 2024, compared to QAR 175 million (USD 48m) in Q1 2023. In terms of growth,...
Posted: May 09, 2024
US homeowners insurers are raising premiums and tightening policies to help offset weakening profitability from weather-related losses, as well as exposure to catastrophe-prone areas and inflation, according to a Moody’s report. Firstly, it...
Posted: May 09, 2024
A recent report released by global re/insurance broker WTW has highlighted several factors that are contributing towards the decline in mergers & acquisitions (M&A) activity, which includes rising interest rates, geopolitical tensions, and...
Posted: May 09, 2024
Liberty Specialty Markets (LSM), affiliated with Liberty Mutual Insurance Group, introduces a fresh digital trading solution for Contractors All Risks (CAR), crafted in collaboration with Howden. This latest addition, coupled with previously estab...
Posted: May 09, 2024
Personal Auto Insurers Have Edge on Innovation: AM B...
Posted: May 09, 2024
Three insurance companies have rejected Chevron’s claim over the seizure last year of an oil cargo by Iran, according to a complaint filed on Tuesday in a U.S. court in California. The Chevron-chartered tanker Advantage Sweet was boarded by Ira...
Posted: May 09, 2024
BMS Group’s reinsurance broking arm, BMS Re, has added six new hires to ProLink Solutions, its dedicated MGA business which was founded within the company last year. Launched in mid-2023, ProLink has expanded to become a large broker in the...
Posted: May 09, 2024
Jodie Kaufman Davis of H.W. Kaufman Group honored for philanthropic and industry leadership CHICAGO, IL (May 8, 2024) – The Midwest Division of the Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping...
Posted: May 09, 2024
As per a new report from Howden Re, the reinsurance and risk advisory arm of the Howden Group, while perceptions of heightened systemic risk within the cyber re/insurance class have been persistent, the rewards offered are often underestimated rel...
Posted: May 09, 2024
Hamilton’s Q1 2024 combined ratio has increased by 3.6 points year over year to 91.5%, primarily driven by losses of $37.9 million arising from the Francis Scott Key Baltimore Bridge collapse. The attritional loss ratio in Q1 of 2024, net of...
Posted: May 09, 2024
Hub International Ltd., the Chicago-based insurance brokerage and financial services firm, announced the acquisition of certain assets from 2197747 Alberta Ltd., which is in turn partially owned by Carianne O’Connor. Terms of the transaction we...
Posted: May 09, 2024
Greenlight Capital Re, Ltd. has reported a 98% combined ratio for Q1 2024 compared to 99.8% in Q1 2023, as the firm’s underwriting income increased to $3.4 million from $0.4 million. The current-year catastrophe losses, including the Baltimo...
Posted: May 09, 2024
Posted: May 09, 2024
Posted: May 09, 2024
Progressive Set to ‘Maximize’ Growth, Building on Q1 When Progressive'...
Posted: May 09, 2024
Posted: May 09, 2024
Posted: May 09, 2024
Verita, the Managing General Underwriting (MGU) company of WTW, has introduced Workers’ Compensation solution to its suite of casualty products. Verita aims to reshape the landscape for US mid-sized and larger companies by bringing a robust, techn...
Posted: May 09, 2024
A Texas energy company will pay a $265,000 fine to settle charges that it subjected Black and Hispanic field mechanics to harassment. The U.S. Equal Employment Opportunity Commission (EEOC) announced last week that Liberty Energy, Inc. doing business...
Posted: May 09, 2024
Commercial property insurer FM Global has announced a record US$1.4 billion membership credit for FM Global’s Client Owners. This is, according to the announcement, the firm’s largest-ever membership credit, which was driven by FM Global’s s...
Posted: May 09, 2024
The American Association of Insurance Services (AAIS) has announced that reThought Flood will be joining its Partner Program, bringing its innovative technological solution for underwriting flood insurance to enhance the accuracy of risk assessmen...
Posted: May 09, 2024
Moody’s Ratings (Moody’s) has upgraded Assured Guaranty Corp.’s (AGC) insurance financial strength (IFS) rating to A1 from A2, and assigned an stable outlook for the firm and its subsidiaries. According to the announcement, the upgrade of AGC’s IF...
Posted: May 09, 2024
A judge in Oklahoma blocked a state law that prohibits state pension systems from investing with companies that limit investment in the oil and gas industry. Oklahoma County District Court Judge Sheila Stinson on Tuesday issued a temporary injunction...
Posted: May 09, 2024
GBN Worldwide Risk Solutions (GBNRS), a London-based independent broker and Managing General Agent (MGA), has strengthened its leadership team by appointing Houssam Yehya as Director and Group Head of International. In his new capacity, Yehya will...
Posted: May 09, 2024
If personal auto insurance loss reserves are developing adversely, can commercial general liability be far behind? That’s the gist of one of the questions that analysts from Moody’s Investors Service asked—and answered—in a new report on...
Posted: May 09, 2024
A trio of U.S. financial regulators have resumed work on a long-delayed rule-writing project to make executive compensation plans at financial firms more sensitive to risk. The Federal Deposit Insurance Corporation, Office of the Comptroller of the C...
Posted: May 09, 2024
The European Commission is planning to allow exemptions from a proposed ban on substances known as PFAS, or “forever chemicals,” to protect key industries, a letter seen by Reuters on Wednesday showed. In the letter to some EU lawmakers i...
Posted: May 09, 2024
A tennis player was awarded $9 million in damages by a jury in federal court in Florida after accusing the U.S. Tennis Association of failing to protect her from a coach she said sexually abused her at one of its …
Posted: May 09, 2024
A tennis player was awarded $9 million in damages by a jury in federal court in Florida after accusing the U.S. Tennis Association of failing to protect her from a coach she said sexually abused her at one of its …
Posted: May 09, 2024
Jaguar Land Rover Automotive Plc is offering to pay part of customers’ insurance costs for new Range Rovers after a string of thefts caused premiums to soar and left some unable to get cover. The British carmaker will provide £150 …
Posted: May 09, 2024
The floods and severe rainfall that ravaged Southern Brazil are hurting the nation’s powerhouse agricultural sector, with industries from auto manufacturing to banking and insurance also bracing for disruption. Heavy rains in Rio Grande do Sul,...
Posted: May 09, 2024
Amid the steam rising around Iceland’s Hellisheioi station sits a newly built warehouse surrounded by giant fans run by carbon removal startup Climeworks. Dubbed Mammoth, the project is now the world’s biggest plant to suck carbon dioxide...
Posted: May 09, 2024
Property insurance groups on Wednesday applauded a decision by Fannie Mae and Freddie Mac to hold off on an apparent plan to scrutinize mortgages on homes that don’t carry full replacement-value insurance coverage. The decision by Fannie and Fr...
Posted: May 09, 2024
Safety lapses at the Oregon State Hospital contributed to recent patient-on-patient assaults, a federal report on the state’s most secure inpatient psychiatric facility has found. The investigation by the Centers for Medicare and Medicaid Servi...
Posted: May 09, 2024
Guilderland Reinsurance Company (GRC) has been assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) by credit ratings company, AM Best. The outlook assigned to GRC is...
Posted: May 09, 2024
A federal judge dismissed a lawsuit brought by a Maine woman who accused school officials of encouraging her teen’s gender expression by providing a chest binder and using a new name and pronouns, without consulting parents. U.S. District Judge...
Posted: May 09, 2024
Written premium in calendar year 2023 was 2% higher than the prior year, driven by continued economic expansion, but partially offset by continued rate decreases, a new report shows. The Workers’ Compensation Insurance Rating Bureau of Californ...
Posted: May 09, 2024
The Nevada Division of Insurance is launching a web-based tool that enables Nevada consumers to identify insurance carriers that are currently accepting home insurance applications by specific ZIP code. The NVDOI said its tool is a recognition that p...
Posted: May 09, 2024
A large staffing firm that performed COVID-19 contact tracing for Pennsylvania and exposed the private medical information of about 72,000 residents will pay $2.7 million in a settlement with the Justice Department and a company whistleblower, federa...
Posted: May 09, 2024
Roberts Joins LP Insurance Services Employee Benefits Brokerage Team Lynn Roberts joined the employee benefits group in the Gold River, California, office of LP Insurance Services LLC. Roberts has over 30 years of industry experience and most recentl...
Posted: May 09, 2024
For the first time, a Colorado appellate court has concluded that COVID-19 can be an occupational disease that is compensable under the state’s Workers’ Compensation Act. The Colorado Court of Appeals ruling came in a case in which Life C...
Posted: May 09, 2024
Building construction-related fatalities in the five boroughs of New York City are at the lowest number in nearly a decade, with seven deaths in 2023 as compared to a high of 14 in 2019. While fatalities are down, the annual …
Posted: May 09, 2024
MSIG USA has announced it is strengthening its executive leadership team with new appointments aimed at reinforcing the company’s dedication to the U.S. market, its expansion and innovation. Peter McKenna, CEO of MSIG USA, stated: “The...
Posted: May 08, 2024
This post is part of a series sponsored by AgentSync. When Service Insurance Companies decided to expand nationwide, what was once a mildly cumbersome task (for just the state of Texas), morphed into a Herculean challenge. The shift from a …
Posted: May 08, 2024
The carrier’s small business policyholders will have access to TruEmpower CyberScout, which helps companies address perils including commercial breach, cyber extortion and business identity theft.
Posted: May 08, 2024