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U.S. primary insurer Allstate has revealed it has raised the top of its Nationwide excess catastrophe reinsurance tower for 2024 to just over $7.9 billion, an increase of around $1 billion compared to 2023. Last year, Allstate’s Nationwide Excess...
Posted: May 02, 2024
A Portuguese-flagged container ship came under attack by a drone in the far reaches of the Arabian Sea, corresponding with a claim by Yemen’s Houthi rebels that they assaulted the ship there, authorities said Tuesday. The attack on the MSC R...
Posted: May 02, 2024
MNK Re, an independent broker of specialist risks into Lloyd’s, has appointed Giles Ham as Associate Director, Surety. The appointment will allow MNK Re to expand its international presence in the sector, facilitating coverage for difficult and ha...
Posted: May 02, 2024
Cruise ships are facing new exposures and insurance challenges. Marsh's Sean Harrington breaks down the emerging risks companies need to know. The post
Posted: May 02, 2024
International specialist insurer Hiscox has announced net insurance contract written premium (ICWP) within Hiscox Re & ILS grew 19.0% as the business continued to seize attractive market opportunities deploying additional capital and new quota...
Posted: May 02, 2024
AXIS Capital Holdings Limited has reported a substantial rise in net income for the first quarter of 2024, as it climbed to $388 million from the $173 million figure that the company posted in the first quarter of 2023. Operating income for Q124 s...
Posted: May 02, 2024
Lancashire Holdings has announced that gross premiums written in Q1 of 2024 increased by 7.8% year-on-year to $631.7 million, while its insurance revenue increased by a huge 24.6% year-on-year to $422 million. As per Lancashire, the reinsurance se...
Posted: May 02, 2024
Digital risk processing platform Cytora has partnered with driver risk management platform SambaSafety, in a move that is anticipated to enable commercial insurance underwriters to gain deeper insights when assessing the business risks associated...
Posted: May 02, 2024
Posted: May 02, 2024
Posted: May 02, 2024
In its Q1 2024 results, AIG has reported net income attributable to its common shareholders of $1.2 billion, marking a massive improvement compared to the $23 million recorded in the prior year quarter. According to AIG, the increase in net income...
Posted: May 02, 2024
A new report from Gallagher Re has revealed that Q1 2024 global InsurTech funding dropped 17.3% quarter on quarter to $912.3 million, though deal count climbed to 107, indicating that frequency and interest are not waning, but the average check si...
Posted: May 02, 2024
The Ardonagh Group, an independent insurance broker, has announced that it will acquire Mansutti S.r.l, the commercial lines division of Italian insurance broker Mansutti S.p.A. Founded in 1925, Mansutti S.p.A has established a reputation for serv...
Posted: May 02, 2024
Data analytics firm Verisk beat estimates for first-quarter profit on Wednesday, driven by strong demand for its products used by property and casualty (P&C) insurers to assess underwriting risks. WHY IT’S IMPORTANT P&C insurers’...
Posted: May 02, 2024
Allianz has announced the rebrand of its personal lines broker business from LV= Broker to Allianz, the latest strategic advance for its brand in the UK. Nicola George, who joined the company recently, will lead this part of the Allianz business a...
Posted: May 02, 2024
AXA Mansard, a member of the AXA Group, has appointed Ayomide Xavier to the position of Head Reinsurance. With five years of experience in the insurance and reinsurance industry, Iyanda brings a wealth of valuable skills to his new position. Befor...
Posted: May 02, 2024
Private flood insurer Neptune Flood reported it has acquired Charles River Data, a Boston-based data science consulting group. According to Neptune, the strategic move will bolster its underwriting system through advanced data science, machine learni...
Posted: May 02, 2024
Executive Summary: With instances of violent unrest rising across the globe in recent years, property all-risk insurance programs bore significant losses. One reason is that sublimits for strikes, riots and civil commotion included on the programs we...
Posted: May 02, 2024
Insurer Allstate posted an upbeat first-quarter profit on Wednesday, helped by higher premiums and stronger investment returns. Insurers usually see stable product demand irrespective of economic conditions, mainly due to the widespread adoption of e...
Posted: May 02, 2024
QBE North America has launched a specialised Healthcare Liability practice, offering a comprehensive range of coverages tailored to help customers navigate evolving risks and enhance resilience. This initiative aims to address the distinct needs o...
Posted: May 02, 2024
American International Group Inc. (AIG) reported profit above analysts’ estimates in the first quarter as lower-than-expected catastrophe losses contributed to strong underwriting results. Adjusted earnings for the quarter were $1.2 billion, or...
Posted: May 02, 2024
From the Rio Grande to the Outer Banks, sea levels are rising faster than most other parts of the world, blocking the outflow of rivers and streams and causing inland flooding that would not have been seen just a few …
Posted: May 02, 2024
The Pennsylvania Supreme Court has ruled that Nationwide Property and Casualty is not obligated to defend its homeowner insureds against a wrongful death claim for emotional and mental distress brought by a mother whose son died from a drug overdose...
Posted: May 02, 2024
PT Axle Asia, an Indonesian insurance broker, has been renamed PT Bolttech Insurance Broker. The rebrand follows the completion of bolttech’s acquisition of the majority shareholding in Axle Asia in late 2022. The Financial Services Authorit...
Posted: May 02, 2024
The Pennsylvania Supreme Court has ruled that Nationwide Property and Casualty is not obligated to defend its homeowner insureds against a wrongful death claim for emotional and mental distress brought by a mother whose son died from a drug overdose...
Posted: May 02, 2024
A high school athletic director in Maryland has been accused of using artificial intelligence to impersonate a principal on an audio recording that included racist and antisemitic comments, authorities said. Authorities said the case appears to be am...
Posted: May 02, 2024
Kent Bo Fridolfsson, 67, of Benicia, California, pleaded guilty to six charges of insurance fraud and grand theft after a joint investigation with the California Department of Insurance, Solano County District Attorney’s Office and the Employme...
Posted: May 02, 2024
New Mexico labor announced a legal settlement that resolves longstanding accusations of unpaid wages against a restaurant business in northwestern New Mexico. The Workforce Solutions Department said in a news release that 505 Burgers Farmington LLC h...
Posted: May 02, 2024
New Mexico has reached a record settlement with a company over air pollution violations at natural gas gathering sites in the Permian Basin. The $24.5 million agreement with Ameredev announced this week is the largest settlement the state Environment...
Posted: May 02, 2024
World Insurance Associates LLC (World) has announced the appointment of industry veteran Ken Bond as Chief Corporate Development Officer. In his new capacity, Bond will oversee corporate development for all three of World’s businesses, which...
Posted: May 01, 2024
By automating data extraction enables Artificial to process all ACORD Form types alongside existing supported files in its underwriting platform.
Posted: May 01, 2024
Championing a ‘safe and strategic’ approach to AI for the risk and insurance community, the vendor has also introduced a GenAI Product Pilot Program.
Posted: May 01, 2024
The Big "I" government affairs team released a video explaining the rule, its effect on independent agents and current state of play.
Posted: May 01, 2024
The two will expand vacant home insurance in California.
Posted: May 01, 2024
Seizing Opportunities in CA State Insurance Crisis From Our Partners sradomski Wed,...
Posted: May 01, 2024
Redefining What a Customer Experience Is Customer Experience sradomski Wed, 05/01...
Posted: May 01, 2024
How Retention Software Can Help Your Agency Succeed Addressing the daunting task of renewal management By Vijay Rengarajan, CPCU The hard market continues. Premiums are increasing, insurance companies are more selective about the risks they cover, an...
Posted: May 01, 2024
Boys & Girls Clubs of Southeastern Michigan’s Risk Management Industry Club introduces the next gen-eration to the wide scope of insurance careers By Maura C. Ciccarelli Photography courtesy of BGCSM and NAAIA Foundation In May 2023, 15-year-old...
Posted: May 01, 2024
It doesn’t matter our job title; we all can be leaders By Carey Wallace Leadership in its simplest form is the ability of an individual to influence and guide others. That sounds pretty straightforward, but in actuality it is not. There is a reason w...
Posted: May 01, 2024
Indiana young pro creates agency division dedicated to the beauty industry By Christopher W. Cook In the insurance industry, certain dedicated young professionals stand out among their peers and are members of an elite squad of individuals. These are...
Posted: May 01, 2024
The importance of crisis communications for insurance agents and brokers By Thomas Mustac In the insurance industry, building and maintaining trust with clients is the foundation of success. A crisis—whether caused by internal missteps or external ev...
Posted: May 01, 2024