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Commenting on the upcoming June reinsurance renewal in Florida, Marc Grandisson, President, and CEO of Arch Capital Group, expects the state’s market to be “well priced” and “very good” on a risk-adjusted basis. As co...
Posted: May 01, 2024
Property insurers in storm-swept Louisiana could soon gain much more flexibility over policy cancellations if the governor signs House Bill 611 into law, as expected. The state House of Representatives this week approved the bill by a vote of 82 R...
Posted: May 01, 2024
Global specialty lines re/insurer Canopius has bolstered its senior leadership team in Bermuda by hiring Jesse DeCouto as Chief Underwriting Officer (CUO) and Tonia Morgan as Chief Financial Officer (CFO) of Canopius Reinsurance Limited (Canopius...
Posted: May 01, 2024
Consumer Watchdog opposes Californian Insurance Commissioner Ricardo Lara’s proposal to allow insurance companies to use black-box catastrophe models and artificial intelligence (AI) for predicting catastrophic wildfire risks, citing concern...
Posted: May 01, 2024
Insurance Business Magazine - US
Posted: May 01, 2024
Ryan Specialty, the Chicago-based international specialty insurance firm, announce it has completed the acquisition of Castel Underwriting Agencies from Arch Financial Holdings (UK) Ltd. and minority shareholders. Headquartered in London, Castel is a...
Posted: May 01, 2024
The tornadoes that ripped through parts of Nebraska, Iowa and Oklahoma late last week damaged some 7,200 homes, leaving a reconstruction tab of $2.1 billion, according to CoreLogic, the data analytics firm. Some 127 tornadoes spun out of a severe ...
Posted: May 01, 2024
Relm Insurance, a Bermuda-based specialty insurance carrier, unveiled its Comprehensive Employment Practices offering, responding to industry demand to address capacity scarcity. The enhancements of the new policy, payable in fiat or cryptocurrency,...
Posted: May 01, 2024
Relm Insurance, a Bermuda-based specialty insurance carrier, unveiled its Comprehensive Employment Practices offering, responding to industry demand to address capacity scarcity. The enhancements of the new policy, payable in fiat or cryptocurrency,...
Posted: May 01, 2024
Ascot Group, the global specialty insurance firm, has appointed Erin Osborne to the role of Head of U.S. Excess Casualty, where she will assume full management and leadership responsibility for the business unit. The role will also see her lead th...
Posted: May 01, 2024
This edition of International People Moves details appointments at re/insurance brokers BMS and Gallagher. A summary of these new hires follows here. BMS Launches Global Healthcare Liability Unit, Led by Wendin From Carpenter BMS, the London-based in...
Posted: May 01, 2024
Independent specialist re/insurance broker BMS has launched its new global healthcare division, set to be led by industry veteran Rob Wendin serving as managing director. According to the announcement, the new division will provide solutions and g...
Posted: May 01, 2024
The Lloyd’s Market Association (LMA) has launched its latest iteration of the UK Consumer Wordings Guidance. According to the announcement, this latest iteration is a comprehensive resource designed to aid LMA members in “effectively a...
Posted: May 01, 2024
Agile Underwriting Services has received approval from Lloyd’s to commence underwriting in May. Agile Underwriting Services Syndicate 2427 (AUS 2427) will be focused primarily on Australia and New Zealand and writing accident and health, aviati...
Posted: May 01, 2024
RYZE Claim Solutions, a provider of claims services to insurance carriers and managing general agents, has announced the appointment of Stuart Myers and Christopher Conti, to its Board of Directors. Together, both executives – who are highly...
Posted: May 01, 2024
Agile Underwriting Services has received ‘Permission to Underwrite’ from Lloyd’s for its Agile Underwriting Services Syndicate 2427 (AUS 2427), the final regulatory approval required to commence its underwriting business. The new syndicate will re...
Posted: May 01, 2024
Lemonade, a digital insurance firm powered by AI, has reported a net loss in Q1 2024 of $47.3 million, marking an improvement of 28% on last year’s figure, while its in-force premium (IFP) grew 22% year on year (YoY) to $794 million and gros...
Posted: May 01, 2024
Plover, the tech-enabled commercial insurance broker, has launched a new specialty brokerage designed to help brokers secure climate and emerging risk solutions. The company, which was founded in 2022, has also secured over $5 million in venture c...
Posted: May 01, 2024
AM Besthas upgraded the Financial Strength Rating to “A” (Excellent) from “A-” (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Hamilton Re Ltd., in Bermud...
Posted: May 01, 2024
Posted: May 01, 2024
Posted: May 01, 2024
Compre, an international legacy group, has announced the appointment of Rebecca Love to the position of Reinsurance Director. With 25 years of experience in the insurance and reinsurance industry, Love brings a wealth of expertise to her new role....
Posted: May 01, 2024
Bermuda-domiciled SiriusPoint Ltd., a global specialty re/insurer, has reported Q1 2024 net income of $90.8 million, with core income of $62.4 million, which includes underwriting income of $44.3 million and a combined ratio of 91.4%. The core com...
Posted: May 01, 2024
Bermudian RenaissanceRe Holdings Ltd. (RenRe) has reported underwriting income of $541 million with a combined ratio of 77.9% in its first quarter 2024 results, as the reinsurer’s premiums swelled as a result of the renewal of business acqui...
Posted: May 01, 2024
Estonia has accused neighboring Russia of jamming GPS navigation devices in airspace above the Baltic states, echoing concerns from airlines that say they have been contending with such interference for months. Estonian Foreign Minister Margus Tsahkn...
Posted: May 01, 2024
BPL has appointed industry veteran Lizzie Thomas as Director to strengthen its broking teams in Europe and the US. In her new role, Thomas will report to James Reynolds, Deputy CEO at BPL, and will collaborate with the company’s major financ...
Posted: May 01, 2024
German companies have long treated Hungary like their backyard. Carmakers Mercedes Benz AG and BMW AG and Volkswagen AG’s Audi continue to expand their footprint, driving the country’s exports, while weapons producer Rheinmetall AG is bui...
Posted: May 01, 2024
A wholly owned subsidiary of legacy specialist Enstar Group has agreed a $400 million loss portfolio transfer (LPT) with a subsidiary of Bermuda-based re/insurer SiriusPoint to reinsure a portfolio of Workers’ Compensation business covering underw...
Posted: May 01, 2024
On a three-lane test track along the Monongahela River, an 18-wheel tractor-trailer rounded a curve. No one was on board. A quarter-mile ahead, the truck’s sensors spotted a trash can blocking one lane and a tire in another. In less …
Posted: May 01, 2024
DUAL Australia is launching a new business line in the Asia Pacific region through its specialised title insurance team, DUAL Asset. Leading this initiative is Chris Hammond, Head of Asia Pacific for DUAL Asset. The focus areas include real estate...
Posted: May 01, 2024
A group of newspapers, including the New York Daily News and Chicago Tribune, sued Microsoft and OpenAI in New York federal court on Tuesday, accusing them of misusing reporters’ work to train their generative artificial-intelligence systems. T...
Posted: May 01, 2024
A retail giant, a space launch operation, a major food processor, the nation’s two biggest rideshare providers and a large healthcare system are among those entities marked as being among the most unsafe employers. The National Council for Occu...
Posted: May 01, 2024
Florida and federal health officials have determined that 15 infections from a drug-resistant bacteria have been linked to a south Florida clinic that performed Brazilian “butt lift” surgeries in 2022 and 2023. “Multiple lapses in i...
Posted: May 01, 2024
Last year’s snow deluge in California, which quickly erased a two decade long megadrought, was essentially a once-in-a-lifetime rescue from above, a new study found. Don’t get used to it because with climate change the 2023 California sno...
Posted: May 01, 2024
On the morning of September 11, 2001, Robert Liotta was at his job as a senior court officer at 100 Centre Street in New York City when not far away terrorists attacked the World Trade Center. Right away, he began …
Posted: May 01, 2024
Pennsylvania-based food manufacturer Hanover Foods Corp. has been found in violation of dozens of safety and health hazards at its Centre Hall facility, according to federal officials. The federal Occupational Safety and Health Administration opened...
Posted: May 01, 2024
BenefitMall named Sam Patton to its team as the new benefits sales executive for Colorado. Patton specializes in ancillary benefits such as life, disability insurance, and executive supplemental disability. Patton most recently served as an executive...
Posted: May 01, 2024
The Connecticut Senate recently pressed ahead with one of the first major legislative proposals in the U.S. to rein in bias in artificial intelligence decision-making and protect people from harm, including manufactured videos or deepfakes. The vote...
Posted: May 01, 2024
Berkshire Hathaway Inc.’s PacifiCorp now faces a demand for $30 billion from victims of Oregon’s 2020 Labor Day wildfires, an escalation of a legal onslaught on the largest grid operator in the western US. While the amount sought in an &#...
Posted: May 01, 2024
Insurer AF Group has appointed Kriss Barronton, formerly of USAA, as its new Chief Operating Officer (COO). In the new role, Barronton’s remit will include leading several key teams including business transformation, loss control, premium au...
Posted: May 01, 2024
Factor Risk Management (FRM), an independent global advisor and broker of litigation finance and after-the-event legal expenses insurance, has launched its M&A and Transactional Risks division, to be led by James Wilson. Camila Carvalho joins...
Posted: Apr 30, 2024
Triage nurses can step in to provide immediate medical guidance and set injured workers on the right path toward recovery. The post
Posted: Apr 30, 2024
This post is part of a series sponsored by IAT Insurance Group. Water damage stands as a persistent threat to buildings under construction, ranking as one of the leading causes of property loss worldwide. In the U.S. alone, the annual …
Posted: Apr 30, 2024
Koop originally launched to provide insurance for emerging risks such as autonomous cars and robotics.
Posted: Apr 30, 2024