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Iowa Governor Signs Measure to Increase Compensation for Boy Scouts Abuse Victims

Insurance Journal

DES MOINES, Iowa (AP) — Iowa men who were victims of child sexual molestation while they were in the Boy Scouts of America could get higher legal compensation under a measure lawmakers approved and the governor signed into law last …

Posted: Apr 22, 2024

Accelerated underwriting streamlining insurance processes: Lane, Swiss Re

Reinsurance News

Jeremy Lane, Head of US Mortality Services at Swiss Re, underscores the increasing significance of Accelerated Underwriting (AUW) for insurance companies by enabling them to leverage technology for faster decision-making and quote delivery, thereb...

Posted: Apr 22, 2024

Insurers in Slovakia to implement Intermap’s flood risk solution for insurance applications

Reinsurance News

KBC Slovakia and UNIQA Slovakia have signed multiyear subscriptions to Intermap Technologies’ Aquarius RMA software and the latest generation of flood risk solutions for Slovakia. Intermap is a provider of geospatial intelligence solutions, focusi...

Posted: Apr 22, 2024

Fitch anticipates surge in UK life insurers’ bulk annuity sales and funded re

Reinsurance News

Fitch Ratings anticipates UK life insurers’ bulk annuity volumes to continue rising in 2024, surpassing £60 billion, with funded reinsurance (funded re) becoming increasingly prevalent. In 2023, bulk annuity sales reached a record high of nearly £...

Posted: Apr 22, 2024

Progressive Gains as Drivers Shop Around for Auto Insurance—Again

Insurance Journal

Although it may have seemed like drivers had thrown in the towel on trying to find cheaper auto insurance prices late last year, a new study of consumer behavior finds they’re back to shopping around. In addition, when they decide …

Posted: Apr 22, 2024

Differences Between Named Insured and Additional Insured: Part 2

Insurance Journal

This post is part of a series sponsored by TSIB. When working on a construction project, the company you are working for may ask to be an Additional Named Insured or an Additional Insured. It’s easy to believe that they …

Posted: Apr 22, 2024

Chubb promotes Scheffler to COO for PRS and Graham Mid-Atlantic Region Executive Officer

Reinsurance News

Global insurer Chubb has announced the promotion of two insurance industry veterans, Melissa Scheffler and Bryce Graham, to new roles in North America, both effective April 29, 2024. Scheffler, who currently serves as Regional Executive Officer fo...

Posted: Apr 22, 2024

Tiny Texas City Repels Russia-Tied Hackers Eyeing Water System

Insurance Journal

When Mike Cypert got the call that utilities in remote Texas communities were being hacked, he raced across his office to unplug the computer that ran his city’s water system. Hale Center is a dusty, cotton-growing burg of 2,000 about …

Posted: Apr 22, 2024

EPA Designates PFAS Chemicals as Superfund Hazardous Substances

Insurance Journal

The U.S. Environmental Protection Agency on Friday designated a pair of widely used industrial chemicals as hazardous substances under the country’s Superfund program, accelerating a crackdown on toxic compounds known as “forever chemical...

Posted: Apr 22, 2024

What Is Volt Typhoon, the Hacking Group the FBI Warns Could Deal a ‘Devastating Blow’?

Insurance Journal

China is developing the “ability to physically wreak havoc” on U.S. critical infrastructure and its hackers are waiting “for just the right moment to deal a devastating blow,” FBI Director Christopher Wray said on Thursday. Th...

Posted: Apr 22, 2024

Alabama City Councilman Hit With New Auto Insurance Fraud Indictment

Insurance Journal

Authorities have added four more insurance fraud charges to those already lodged against an city official in coastal Alabama. Prichard City Councilman Derrick Griffin last week was indicted by a grand jury for the second time in four months. In &#823...

Posted: Apr 22, 2024

Arbol Buys Centauri Insurance, Forms Lilypad to Broaden Climate Risk Coverage

Insurance Journal

Arbol Inc., a firm that has specialized in climate risks for businesses, including parametric insurance products, has acquired Sarasota, Florida-based Centauri Insurance from Applied Underwriters. The companies announced in an statement that Centauri...

Posted: Apr 22, 2024

Arbol Unit Buys Centauri Insurance, Forms Lilypad to Broaden Climate Risk Coverage

Insurance Journal

A subsidiary of Arbol Inc., a firm that has specialized in climate risks for businesses, including parametric insurance products, has acquired Sarasota, Florida-based Centauri Insurance from Applied Underwriters. The companies announced in an stateme...

Posted: Apr 22, 2024

Once Praised, Settlement to Help BP Oil Spill Workers Leaves Most With Nearly Nothing

Insurance Journal

When a deadly explosion destroyed BP’s Deepwater Horizon drilling rig in the Gulf of Mexico, 134 million gallons of crude erupted into the sea over the next three months — and tens of thousands of ordinary people were hired to …

Posted: Apr 22, 2024

Takeaways from Our Conversation on Commercial Auto, Telematics and Cannabis

Insurance Journal

Commercial auto is a tough topic in any business segment, but it’s tougher still for cannabis businesses. For our latest podcast, we spoke with Griffen Kapulica, broker relationship manager for Fairmatic, a commercial insurance company deliveri...

Posted: Apr 22, 2024

Cable Company Worker Electrocuted While Working on Utility Pole in Upstate New York

Insurance Journal

A man working on a utility pole was electrocuted early Friday when low-hanging wires made contact with the basket of his truck, according to police. The cable company worker was doing routine maintenance in rural Berne, about 15 miles (24 …

Posted: Apr 22, 2024

GeoVera Combining Carriers with SafePort to Create GeoVera Nova Holdings

Insurance Journal

GeoVera Insurance Holdings entered into a definitive agreement to sell its insurance carriers and managing general agent businesses. Upon completion of the deals, a newly formed entity, GeoVera Nova Holdings Inc., will control four insurance operatin...

Posted: Apr 22, 2024

Cyber insurers and distributors to benefit from Zywave’s new quoting platform

Reinsurance News

Insurtech provider Zywave has launched Cyber Quoting, the latest addition to its comprehensive portfolio of quoting and proposal solutions. The centralised quoting platform seamlessly connects global cyber insurers with US distribution partners th...

Posted: Apr 22, 2024

Higlights of Reports on Deadly 2023 Hawaii Wildfire

Insurance Journal

More than half a year after the deadliest U.S. wildfire in more than a century burned through a historic Maui town, officials are still trying to determine exactly what went wrong and how to prevent similar catastrophes in the future. …

Posted: Apr 22, 2024

Highlights of Reports on Deadly 2023 Hawaii Wildfire

Insurance Journal

More than half a year after the deadliest U.S. wildfire in more than a century burned through a historic Maui town, officials are still trying to determine exactly what went wrong and how to prevent similar catastrophes in the future. …

Posted: Apr 22, 2024

CRC Group in Hawaii and INSUREtrust Form Cyber Practice Group

Insurance Journal

CRC Group, headquartered in Honolulu, has integrated INSUREtrust, formerly housed in Starwind, into its wholesale brokerage division. This integration bolsters CRC Group’s cyber capabilities and expertise and broadens INSUREtrust’s networ...

Posted: Apr 22, 2024

People Moves: Liberty Names Bernau as Senior Vice President, Commercial Lines Producer

Insurance Journal

The Liberty Company Insurance Brokers, headquartered in Gainesville, Florida, named Andrew Bernau senior vice president, commercial lines producer. Bernau is based in Chicago. Bernau has nearly 20 years of industry experience, beginning his career wi...

Posted: Apr 21, 2024

MGM Resorts Sues FTC to Stop Investigation of Casino Hack

Carrier Management

MGM Resorts Sues FTC to Stop Investigation of Casino Hack MGM Resorts International sued the Federal Trade...

Posted: Apr 21, 2024

From the Front Lines: E&O

IA Magazine

My biggest challenge comes with the misunderstanding of what this E&O coverage offers a client," says independent agent Shelly Turner. "Another challenge is helping other agents recognize the availability of our specialized product."

Posted: Apr 21, 2024

Overcoming the Challenges of Entering the Cannabis Insurance Market

IA Magazine

As states expand legalization, the demand for cannabis is growing, creating both opportunities and challenges for independent agents to enter the market.

Posted: Apr 21, 2024

3 Takeaways From the Ransomware Attack on Change Healthcare

IA Magazine

The attack on Change Healthcare underscores key considerations for independent agents when discussing cyber risks with clients.

Posted: Apr 21, 2024

How to Value a Project for Builders Risk Coverage

IA Magazine

Learn how to collaborate with carriers to get the right coverage and minimize the risk of coinsurance penalties.

Posted: Apr 21, 2024

3 Takeaways from the Ransomware Attack on Change Healthcare

IA Magazine

The attack on Change Healthcare underscores key considerations for independent agents when discussing cyber risks with clients.

Posted: Apr 21, 2024

From the Front Lines: E&O

IA Magazine

My biggest challenge comes with the misunderstanding of what this E&O coverage offers a client," says independent agent Shelly Turner. "Another challenge is helping other agents recognize the availability of our specialized product."

Posted: Apr 21, 2024

Overcoming the Challenges of Entering the Cannabis Insurance Market

IA Magazine

As states expand legalization, the demand for cannabis is growing, creating both opportunities and challenges for independent agents to enter the market.

Posted: Apr 21, 2024

Swiss Re Launches Gen AI-Powered Underwriting Assistant Life Guide Scout

IIR

Debuting in an English language pilot, Swiss Re Life Guide Scout augments the company’s existing underwriting manual Life Guide with a Gen AI-powered assistant that aims to help increase underwriting quality and efficiency.

Posted: Apr 21, 2024

How to Tackle the Long-Term-Care Crisis

Insurance Thought Leadership

How to Tackle the Long-Term-Care Crisis Life & Health ClareCarroll1 Sun, 04/21/2024 - 15:...

Posted: Apr 21, 2024

How Life Insurers Can Leverage Generative AI

Insurance Thought Leadership

How Life Insurers Can Leverage Generative AI AI & Machine Learning ClareCarroll1 ...

Posted: Apr 21, 2024

Is 2024 the Year of Digital Health?

Insurance Thought Leadership

Is 2024 the Year of Digital Health? Life & Health ClareCarroll1 Sun, 04/21/2024 - 15:32

Posted: Apr 21, 2024

Agents and AI: A Winning Combo in Contact Centers

Insurance Thought Leadership

Agents and AI: A Winning Combo in Contact Centers Agent & Broker ClareCarroll1 Sun, 04/2...

Posted: Apr 21, 2024

How to Build a Solid Cybersecurity Program

Insurance Thought Leadership

How to Build a Solid Cybersecurity Program Cyber ClareCarroll1 Sun, 04/21/2024 - 15:20...

Posted: Apr 21, 2024

AI and a Vision for Safer Roads

Insurance Thought Leadership

AI and a Vision for Safer Roads Auto Insurance ClareCarroll1 Sun, 04/21/2024 - 15:14

Posted: Apr 21, 2024

Super partners with Baird & Warner to provide protection for homebuyers

coverager

Founded in 2015, Super's app allows homeowners to coordinate repairs, schedule appointments, and track the progress of their repairs.

Posted: Apr 21, 2024

Why CX Still Suffers in Insurance...and How to Improve It!

Insurance Thought Leadership

Why CX Still Suffers in Insurance...and How to Improve It! sradomski Fri, 04/19/2024 - 15:44 Image ...

Posted: Apr 19, 2024

Companies That Ignore Climate Risks Punished by Financial Markets

Carrier Management

Companies That Ignore Climate Risks Punished by Financial Markets New data suggests...

Posted: Apr 19, 2024

States Sue to Block U.S. Rules Curbing Emissions in Cars, Light Trucks

Carrier Management

States Sue to Block U.S. Rules Curbing Emissions in Cars, Light Trucks Republican attorneys general from...

Posted: Apr 19, 2024