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Insurance Business Magazine - US
Posted: Jun 27, 2025
Buyers are more discerning, capital is more expensive, and growth expectations are higher Opportunities abound for smaller firms to acquire local agencies that no longer fit the investment thesis of larger brokers. By James Graham, CVA Market timing...
Posted: Jun 27, 2025
Mergers & Acquisitions (M&A) insurance claims payouts have surged in recent years, with 2024 marking the highest year on record for M&A insurance payouts, according to a recent Aon study. The research highlights a significant increase...
Posted: Jun 27, 2025
Michigan Attorney General Dana Nessel announced a settlement agreement with Domtar Industries, LLC and E.B. Eddy Paper, Inc. (together, Domtar) to address releases of per- and polyfluoroalkyl substances (PFAS) at the Techni-Comp, Inc. composting site...
Posted: Jun 27, 2025
A group is ending a 20-year search for a plane that crashed into Lake Michigan in 1950, killing all 58 people on board, after sweeping the vast body of water using sonar technology and even getting support from an acclaimed …
Posted: Jun 27, 2025
LexisNexis Risk Solutions, a provider of data and analytics for the insurance industry, has released LexisNexis Location Intelligence for Commercial, a tool aimed at improving the assessment of commercial property risks during underwriting and pol...
Posted: Jun 27, 2025
Insurers in the U.S. paid out about $1 billion in claims for lightning-related damage in 2024, down 16.5% from the amount paid in 2023, according to the Insurance Information Institute (Triple-I). The tally was $1.04 billion in 2024 compared to ̷...
Posted: Jun 27, 2025
Insured losses from Mexico’s Hurricane Erick, which made landfall last week, are expected to be contained, with parametric insurance contracts unlikely to be triggered, according to a recent report by AM Best. Hurricane Erick made landfall last Th...
Posted: Jun 27, 2025
This edition of International People Moves details appointments at insurers MS Amlin and Allianz Commercial. A summary of these new hires follows here. MS Amlin Taps Nilsson From Talbot as Political Violence Underwriter MS Amlin, the Lloyd’s re...
Posted: Jun 27, 2025
Howden, the global insurance and reinsurance broking group, has appointed Siddharth Deosthalee as the Chief Financial Officer (CFO) of India, based in Mumbai. Until April 2025, Deosthalee was the Vice President of Finance for Peepul Tree, a role h...
Posted: Jun 27, 2025
A Paradigm Shift for Water Leak Sensors IOT fishman@theins… Fri, 06/27/2025 - 09:41 ...
Posted: Jun 27, 2025
The cost of a cyberattack extends far beyond any immediate mitigation expenses or ransoms paid. Reputational costs and dipping stock values can be a significant portion of losses, according to the new Aon Global 2025 Cyber Risk Report. Reputation ris...
Posted: Jun 27, 2025
The latest people news in the industry today. The post Steven Goldman Appointed Global Head of Distribution at Ascot appeared first on...
Posted: Jun 27, 2025
The latest people news in the industry today. The post James Ferris Named CEO of Davies’ Captive Management Business appeared fir...
Posted: Jun 27, 2025
The latest people news in the industry today. The post Elizabeth Geary Appointed President and CEO of North America...
Posted: Jun 27, 2025
Oregon lawmakers have voted to repeal the state’s contentious wildfire hazard map, which subjected homeowners in certain areas at high risk of wildfires to stricter building codes and requirements to reduce vegetation on their properties. The m...
Posted: Jun 27, 2025
The US property and casualty (P&C) insurance sector experienced a significant recovery in 2024, according to AM Best, the credit rating agency. In its latest report, AM Best highlights a $31 billion improvement in the personal auto line of bus...
Posted: Jun 27, 2025
China’s aviation regulator will from Saturday ban passengers from carrying power banks without Chinese safety certification markings, as well as those recently recalled by manufacturers because of safety concerns. The move, which applies to any...
Posted: Jun 27, 2025
The latest people news in the industry today. The post Kingsley Flynn Appointed Chairman at Fenchurch to Guide North Am...
Posted: Jun 27, 2025
A city of Danville employee is being given another opportunity to gain workers’ compensation benefits after a deputy commissioner denied his claim because of the employee’s willful misconduct in not following driver safety rules at work....
Posted: Jun 27, 2025
For US commercial insurance buyers, the current landscape is arguably the most favourable in the past five to six years, however, economic uncertainty abounds, with potential ripple effects on the insurance market, according to the latest Lockton...
Posted: Jun 27, 2025
A northern West Virginia region still cleaning up from flash flooding less than two weeks ago was hit with torrential rains that sent creeks over their banks again Thursday night. A flash flood warning was issued for the Wheeling area, …
Posted: Jun 27, 2025
An object bright enough to be seen streaking across the midday sky fell across parts of the Southeast U.S. on Thursday. The object was likely either a meteor or space junk, with most sightings of the streak of light and …
Posted: Jun 27, 2025
An object bright enough to be seen streaking across the midday sky fell across parts of the Southeast U.S. on Thursday. The object was likely either a meteor or space junk, with most sightings of the streak of light and …
Posted: Jun 27, 2025
Swiss Re, a reinsurance provider, has drawn on its expertise in natural catastrophe risk to identify critical lessons from California’s wildfire experience that are increasingly relevant for insurers across Europe. The growing frequency and intens...
Posted: Jun 27, 2025
Geopolitical instability has been identified as the biggest threat to the aviation sector by insurers, a new industry survey has revealed, with war and international conflicts as the top concern for two-thirds of respondents working for internatio...
Posted: Jun 27, 2025
Public Adjusters Decry Florida Citizens’ New Plan That Keeps Their Names Off Checks In the long co...
Posted: Jun 27, 2025
Bermuda-based insurer and reinsurer SiriusPoint has appointed Andrew Pryde from Catalina Re as Group Chief Risk Officer (CRO), effective September 2025. In his new role, Pryde will be based in Bermuda, where he will report to SiriusPoint’s Chief E...
Posted: Jun 27, 2025
Aon has reported that recent severe convective storm (SCS) activity is expected to drive economic and insured losses into the hundreds of millions of dollars in Europe, while similar events in the United States are projected to result in losses in...
Posted: Jun 27, 2025
The Financial Action Task Force (FATF), a global financial crime watchdog, on Thursday called on countries to take stronger action to combat illicit finance in crypto assets, warning that gaps in regulation could have global repercussions. The Paris-...
Posted: Jun 27, 2025
Louisiana is the latest state to redefine natural gas as green energy under a new law the Republican governor signed this week, even though it’s a fossil fuel that emits planet-warming greenhouse gases. Three other states led by Republicans— In...
Posted: Jun 27, 2025
Markel Insurance, the insurance arm of Markel Group Inc., has announced the appointment of Collin Sim as Casualty Underwriter. The hire marks the establishment of Markel’s first dedicated casualty underwriting position in Singapore. In her new rol...
Posted: Jun 27, 2025
Roughly 1.1 million gallons of crude oil spilled from a pipeline into the Gulf of Mexico in November 2023 because operators failed to shut it down for nearly 13 hours after their data first hinted at a problem, the National …
Posted: Jun 27, 2025
By implementing AI-driven technologies across the claims life cycle and integrating real-time analysis from multiple modalities, property and casualty (P&C) insurers could reduce fraudulent claims and save between $80 billion and $160 billion...
Posted: Jun 27, 2025
Specialty property insurer Palomar Holdings, Inc. has announced a strategic partnership with Neptune Flood, a private flood insurance provider, to accelerate growth in the US flood insurance market. As part of the collaboration, Neptune will becom...
Posted: Jun 27, 2025
Cyber insurer Cowbell said it has expanded its product portfolio to include a comprehensive multi-line insurance offering from Zurich North America within the United States. Building on its established success in cyber and technology errors & omi...
Posted: Jun 27, 2025
Maria Weston Kuhn had one lingering question about the car crash that forced her to have emergency surgery during a vacation in Ireland: Why did she and her mother sustain serious injuries while her father and brother, who sat in …
Posted: Jun 27, 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Philip Anderson as Senior Underwriter in Dallas to expand its energy underwriting capabilities. In his new role, Anders...
Posted: Jun 27, 2025
Vessels near the Strait of Hormuz have been broadcasting unusual messages concerning nationality in a bid to avoid being attacked as doubts linger over the ceasefire between Israel and Iran, according to maritime risk analytics firm Windward and ship...
Posted: Jun 27, 2025
BHP faces a full contempt of court hearing in Britain for funding litigation to try to prevent some Brazilian municipalities suing the mining giant over one of Brazil’s worst environmental disasters, London’s High Court ruled on Thursday....
Posted: Jun 27, 2025
The U.S. Department of Agriculture found significant safety issues at its top research facility in an investigation of 2023 whistleblower complaints about the state of the site, the Office of Special Counsel said in a letter sent to the White …
Posted: Jun 27, 2025
Marsh, insurance brokerage business of Marsh McLennan, announced the launch of Cyber Unity, a new insurance facility for organizations across the European Union, as well as in Israel, Norway, Serbia, and Turkey, with revenues up to €500 million (US$5...
Posted: Jun 27, 2025
GE Appliances announced a nearly half-billion-dollar project Thursday that it says will create 800 new jobs and shift production of clothes washers from China to its massive manufacturing complex in Kentucky. The $490 million investment positions the...
Posted: Jun 27, 2025
North Carolina insurance producers will no longer be required to complete education courses before taking the license exam, under a bill now awaiting the governor’s signature. House Bill 737 was approved with little opposition by both chambers...
Posted: Jun 27, 2025
Gainesville-based The Liberty Company Insurance Brokers announced Will Bradshaw as a producer in its Ponte Verde office. Bradshaw, whose family has operated a Tennessee insurance agency for more than 60 years, specializes in farm and crop insurance,...
Posted: Jun 27, 2025