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Amwins forms National Transportation Underwriters to enhance services

Reinsurance News

Amwins, a global distributor of specialty insurance products and services, has announced the merger of its Amwins Transportation Underwriters and National Truck Underwriting Managers teams to create a unified entity, Amwins National Transportation...

Posted: May 07, 2024

People Moves: Everest Names US Regional Execs to North America Insurance Leadership

Insurance Journal

Everest Insurance, the insurance division of Everest Group, Ltd. headquartered in Hamilton, Bermuda, appointed four United States regional executives as part of realigning its retail business into four regions. Craig Hanrahan, regional executive, U.S...

Posted: May 07, 2024

People Moves: Everest Names US Regional Executives to North America Insurance Leadership

Insurance Journal

Everest Insurance, the insurance division of Everest Group, Ltd. headquartered in Hamilton, Bermuda, appointed four United States regional executives as part of realigning its retail business into four regions. Craig Hanrahan, regional executive, U.S...

Posted: May 07, 2024

CDC Asks States to Make Worker Protective Gear Available to Combat Bird Flu

Insurance Journal

The U.S. Centers for Disease Control and Prevention (CDC) said on Monday it had met with state health officials and asked them to facilitate distribution of protective gear for farm workers to avoid infection against H5N1 bird flu. The CDC …

Posted: May 07, 2024

Jaskiran S. becomes Chief of Staff at Zep Re

Reinsurance News

Kenya domiciled reinsurer Zep Re, or PTA Reinsurance Company, has a new Chief of Staff, Jaskiran S., who has recently joined the firm and will be in charge of strategy execution. ZEP-RE is a specialised institution of the Common Market for Eastern...

Posted: May 07, 2024

The Top 15 U.S. Metros with High Exposure to Wildfire Risk

Insurance Journal

The number of wildfires per year is going down, but the increasing size and intensity of the fires is creating more property damage than ever before – in fact, the average fire size has tripled over the past 30 years, …

Posted: May 07, 2024

Everton FC Buyer Accused of Fraud, Double-Pledging Assets in Lawsuit

Insurance Journal

Lenders to 777 Partners have accused it of fraud, claiming that the Miami-based investment firm borrowed against $350 million of assets that it didn’t own, didn’t exist or were already promised to someone else. Josh Wander, co-founder of...

Posted: May 07, 2024

Fannie/Freddie Rock Insurance World with Guidelines that Bar ACV Coverage for Homes

Insurance Journal

A new rule from Fannie Mae and Freddie Mac, if it stands, could throw a wrench into the property-casualty insurance industry’s move toward actual cash value for more homeowners and condo coverage. Starting June 1, the government-backed mortgage...

Posted: May 07, 2024

Fannie/Freddie Rock Insurance World With Guidelines That Bar ACV Coverage for Homes

Insurance Journal

A new rule from Fannie Mae and Freddie Mac, if it stands, could throw a wrench into the property-casualty insurance industry’s move toward actual cash value for more homeowners and condo coverage. Starting June 1, the government-backed mortgage...

Posted: May 07, 2024

Update: Fannie Mae Guidelines Raise Concerns, Could Bar ACV Coverage for Homes

Insurance Journal

A new guideline from Fannie Mae, if it stands, could throw a wrench into the property-casualty insurance industry’s move toward actual cash value for more homeowners and condo coverage. Starting June 1, the government-backed mortgage corporatio...

Posted: May 07, 2024

Hub Acquires Cargill Agency of Massachusetts

Insurance Journal

Insurance broker Hub International Limited announced it has acquired the assets of William R. Cargill Insurance Agency, Inc. Terms of the transaction were not disclosed. Based in Topsfield, Massachusetts, Cargill Insurance is a family owned and opera...

Posted: May 07, 2024

Monsanto Gets $185 Million PCB Verdict Tossed in Washington

Insurance Journal

Bayer AG’s Monsanto unit persuaded an appeals court in Washington state to throw out a $185 million jury award to three former teachers at a Seattle-area school who blamed exposure to the firm’s toxic chemicals for their brain injuries. A...

Posted: May 07, 2024

Runaway Steel Drum From Construction Site Kills Woman

Insurance Journal

A steel drum weighing thousands of pounds somehow rolled out of a construction site in Pittsburgh and eventually struck and killed a woman who was walking on a nearby sidewalk, police said. The accident occurred around 10:40 a.m. last Friday …

Posted: May 07, 2024

Crews Demolish I-95 Overpass in Connecticut Damaged During Fuel Truck Inferno

Insurance Journal

A bridge damaged in a fiery crash that kept Interstate 95 in Connecticut closed Thursday and Friday has been demolished. A live camera operated by the Connecticut Department of Transportation on Saturday showed excavators and bucket loaders scooping...

Posted: May 07, 2024

Crews Demolish Connecticut I-95 Overpass Damaged During Fuel Truck Inferno

Insurance Journal

A bridge damaged in a fiery crash that kept Interstate 95 in Connecticut closed Thursday and Friday has been demolished. A live camera operated by the Connecticut Department of Transportation on Saturday showed excavators and bucket loaders scooping...

Posted: May 07, 2024

Hawaii Governor Sets up Climate and Disaster Team to Develop Resilience Policy

Insurance Journal

Hawaii Gov. Josh Green has formed a Climate Advisory Team (CAT) made up of experts and stakeholders to deal with the challenges of climate disasters and to build a roadmap for the state’s strategy to mitigate the financial impact of …

Posted: May 07, 2024

People Moves: JM Wilson Hires Kemp; Vermont Mutual Promotes Gilbert

Insurance Journal

JM Wilson Hires Kemp as Transportation Renewal Underwriter JM Wilson, headquartered in Portage, Michigan, hired Corey Kemp as transportation renewal underwriter. Kemp is responsible for underwriting renewal commercial transportation accounts, corresp...

Posted: May 07, 2024

Takeaways from Our Conversation on Captives for Cannabis

Insurance Journal

Want further proof the cannabis industry is no longer the “red-headed stepchild” it is too often viewed as? Just ask TJ Frost? Frost is president of Symphony Grow, which recently launched a captive program that Frost seed as evidence that...

Posted: May 07, 2024

Palomar Holdings reports $26.4m net income in Q1’24 results

Reinsurance News

Palomar Holdings has reported a net income of $26.4 million for the first quarter of 2024, marking a notable increase of $17.3 million from the same period in 2023. The company has experienced substantial growth in gross written premiums (GWP), su...

Posted: May 07, 2024

Massachusetts Top Court Debates Challenges to Gig Worker Ballot Measures

Insurance Journal

Massachusetts’s highest court on Monday weighed whether ballot proposals that would redefine the relationship between app-based companies like Uber Technologies and Lyft and their drivers should be allowed to go before voters in November. Massa...

Posted: May 07, 2024

5 Components of an Effective Safety Program

Risk & Insurance

Preventing workplace injuries and reducing workers' comp costs means diving into the details of workers' day-to-days and finding solutions to common hazards that go beyond simple compliance. This is what a comprehensive safety program looks like.

Posted: May 06, 2024

Citizens Property Adopts EZLynx Rating Engine

IIR

Citizens selected EZLynx Rating Engine to enable Florida agents to accurately assess risk coverage from Citizens and other Florida carriers.

Posted: May 06, 2024

AI as Augmentation Tool: Leveraging GenAI to Improve Human Decisioning

IIR

The technology is at its best when utilized as an augmentation tool, and as an industry, we should be focused on maximizing it to complement and better inform human decisions.

Posted: May 06, 2024

Honeycomb Insurance Raises $36M in Series B Round

IIR

The new funding will be used to improve the end-user experience, driving enhanced profitability to Honeycomb’s broker partners and broadening the type and size of policies offered.

Posted: May 06, 2024

Is the Insurtech Era Over?

Insurance Thought Leadership

Is the Insurtech Era Over? PaulCarroll Mon, 05/06/2024 - 19:22 Max Drucker, CEO of Carpe D...

Posted: May 06, 2024

AXA XL introduces new cyber endorsement

coverager

AXA XL's new endorsement provides dedicated coverage for the costs of investigating the breach including legal fees for compliance and disclosure requirements such as the filing of an 8-K.

Posted: May 06, 2024

Kin launches in Georgia

coverager

Kin is now live in 9 states.

Posted: May 06, 2024

Buffett reveals AI fears, unskippable GEICO, and unstoppable rise in cyber risks

coverager

AXA XL's new endorsement provides dedicated coverage for the costs of investigating the breach including legal fees for compliance and disclosure requirements such as the filing of an 8-K.

Posted: May 06, 2024

WTW’s Lauren Finnis Discusses the Evolution and Future of Commercial Insurance

Risk & Insurance

Lauren Finnis of WTW explores significant shifts and emerging trends in insurance, from leveraging Gen AI to the future of underwriting in a rapidly evolving industry. The post

Posted: May 06, 2024

Survey: Many Employees Who Jumped Ship During COVID Regret It

Carrier Management

Judge Forces Hawaii AG to Turn Over Wildfire Probe Docs to Plaintiff Lawyers A judge on Friday forced t...

Posted: May 06, 2024

List of Names for Atlantic Hurricane Season Announced

Carrier Management

List of Names for Atlantic Hurricane Season Announced As the 2024 Atlantic...

Posted: May 06, 2024

People Moves: Leif Assurance Hires Sills as Commercial Lines Account Executive

Insurance Journal

Leif Assurance, headquartered in St. Louis, hired Kristine Sills as a commercial lines account executive. Sills’ responsibilities include managing new business acquisitions, as well as handling the renewal process for existing clients. Sills ha...

Posted: May 06, 2024

Iowa and Iowa State Athletes File Lawsuit Against State Over Gambling Sting

Insurance Journal

Attorneys for more than two dozen Iowa and Iowa State athletes who were ensnared in a state gambling sting filed a civil lawsuit seeking unspecified monetary damages from the state and its public safety and criminal investigation agencies for violati...

Posted: May 06, 2024

Jain Successor Is Recurring Berkshire Board Topic; Leadership Lessons

Carrier Management

Jain Successor Is Recurring Berkshire Boar...

Posted: May 06, 2024

Berkshire Wary of “Fashionable’ Cyber Insurance, AI

Carrier Management

Berkshire Wary of “Fashionable’ Cyber Insurance, AI While Berks...

Posted: May 06, 2024

Judge Forces Hawaii AG to Turn Over Wildfire Probe Docs to Plaintiff Lawyers

Carrier Management

Judge Forces Hawaii AG to Turn Over Wildfire Probe Docs to Plaintiff Lawyers A judge on Friday forced t...

Posted: May 06, 2024

Hundreds Rescued From Flooding in Houston

Insurance Journal

HOUSTON (AP) — High waters flooded neighborhoods around Houston on Saturday following heavy rains that have already resulted in crews rescuing more than 400 people from homes, rooftops and roads engulfed in murky water. Others prepared to evacuate th...

Posted: May 06, 2024