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Farmers names Eric Coleman as President of Business Insurance

coverager

Farmers announced Eric Coleman has joined the organization as President of Business Insurance, effective April 10. In this role, Coleman is responsible for leading commercial underwriting, product, strategy, finance and...

Posted: Apr 10, 2024

Global Reinsurance Capital Hits $729B in 2023

Risk & Insurance

Boosted by improved profitability and ROE, the global reinsurance industry saw a 12% increase in capital to $729 billion in 2023, Gallagher Re reports The post

Posted: Apr 10, 2024

Survey: Real Estate Investors Concerned With Rising Insurance Premiums

Carrier Management

Survey: Real Estate Investors Concerned With Rising Insurance Premiums A...

Posted: Apr 10, 2024

Spring Storms Bring Risk of Flooding

Carrier Management

Spring Storms Bring Risk of Flooding As spring gets under way, warmer...

Posted: Apr 10, 2024

County Prosecutor Accused of Misusing Insurance Funds Resigns, Denies Wrongdoing

Insurance Journal

The top prosecutor in a northwestern New Jersey county has resigned amid a state probe into allegations that the office lied about caseloads to pad its budget with state money meant for fraud investigations. James Pfeiffer, who had been the …

Posted: Apr 10, 2024

Guesty raises $130 million

coverager

Guesty's new funding will be used for expansion across the US, enhancing vacation rental offerings with innovative features. 

Posted: Apr 10, 2024

YuLife is building a team for the Japanese market

coverager

YuLife is building a team for the Japanese market as it looks to offer its product to the general market.

Posted: Apr 10, 2024

Markets/Coverages: Antares’ Syndicate Launches Credit and Political Risks Consortium

Insurance Journal

Antares Global, the multinational group of insurance and related service companies, announced that Antares Syndicate 1274 has launched a consortium for the underwriting of credit and political risk insurance. The maximum line for the consortium initi...

Posted: Apr 10, 2024

Texas DWC Accepting Comments on Routine Rule Changes

Insurance Journal

The Texas Department of Insurance, Division of Workers’ Compensation (DWC) sent out a notice to workers’ compensation system participants that it will review all sections in the following chapters in Title 28, Texas Administrative Code: C...

Posted: Apr 10, 2024

Two Oklahoma Firefighters Injured Battling Wildfire That Prompted Evacuations

Insurance Journal

MOORELAND, Okla. (AP) — Two Oklahoma volunteer firefighters are recovering after suffering burns battling a weekend wildfire in northwest Oklahoma, officials said. Mooreland firefighters Jared Brittain and Max Clark suffered injuries on Saturday when...

Posted: Apr 10, 2024

People Moves: AXIS Global Markets’ Head of Underwriting Robson to Retire, Succeeded by MacGregor; Ne...

Insurance Journal

This edition of International People Moves details appointments at AXIS Global Markets and Newline Europe. A summary of these new hires follows here. AXIS Global Markets’ Head of Underwriting Robson to Retire, Succeeded by MacGregor AXIS Capita...

Posted: Apr 10, 2024

People Moves: Leif Assurance Hires Sanfilippo as Construction Risk Advisor

Insurance Journal

Leif Assurance, headquartered in St. Louis, hired Vincent Sanfilippo as a Construction Risk Advisor. Sanfilippo has more than 15 years of experience in insurance and construction. He most recently served as operations manager at Parker Land Group and...

Posted: Apr 10, 2024

Detroit Landlord to Pay $190K to Settle Claims of Sexual Harassment

Insurance Journal

DEARBORN HEIGHTS, Mich. (AP) — A suburban Detroit landlord has agreed to pay $190,000 to settle allegations of sexual harassment against women who lived in his buildings or were prospective tenants, the federal government said Monday. The U.S. Justic...

Posted: Apr 10, 2024

Truck Driver Fatally Shot in Confrontation With Police Officer in Michigan

Insurance Journal

ST. JOSEPH TOWNSHIP, Mich. (AP) — The driver of a semitrailer-truck rammed a police vehicle in southwestern Michigan, crashed it into a home, tried to flee and was fatally shot by an officer, officials said. St. Joseph Township officers responded &#8...

Posted: Apr 10, 2024

Small Businesses Hurt by Maryland Bridge Collapse Are Eligible for Disaster Loans

Insurance Journal

The Small Business Administration is offering assistance to those affected by the bridge collapse in Maryland. Small businesses in the Mid-Atlantic region will be eligible for low-interest, long-term Economic Injury Disaster Loans of up to $2 million...

Posted: Apr 10, 2024

Robson to retire as AXIS Global Markets Head of Underwriting

Reinsurance News

AXIS Capital has announced that Alistair Robson, Head of Underwriting for AXIS Global Markets, and Chief Underwriting Officer (CUO) of AXIS Managing Agency, has decided to retire. The company has confirmed that he will leave AXIS at the end of Jun...

Posted: Apr 10, 2024

Bigger, More Complex Wildfires Prompt Changes in Firefighting Workforce

Carrier Management

Bigger, More Complex Wildfires Prompt Changes in Firefighting Workforce It's shap...

Posted: Apr 10, 2024

Latest Hacker Claim Involving UnitedHealth’s Stolen Data Questioned

Carrier Management

Latest Hacker Claim Involving UnitedHealth’s Stolen Data Questioned A f...

Posted: Apr 10, 2024

Help Wanted: Alabama DOI Seeks Proposals on Actuarial, Examination Services

Insurance Journal

The Alabama Department of Insurance is seeking requests for proposals for a range of professional services, including actuarial, accounting, insurer examination, market conduct and investment examination work. The department said in a bulletin Wednes...

Posted: Apr 10, 2024

Direct Line Group hires Aviva’s Poole as Group CFO

Reinsurance News

Direct Line Group has hired Aviva’s Jane Poole as Group Chief Financial Officer (CFO), subject to regulatory approval. In an announcement made by the company, it was revealed that Poole will join the Board in October 2024, succeeding Neil Ma...

Posted: Apr 10, 2024

West Virginia Saw 5 Tornadoes Last Week, Double the Yearly Average

Insurance Journal

CHARLESTON, W.Va. (AP) — The National Weather Service on Monday confirmed a fifth tornado touched down during severe storms that barreled across West Virginia last week. That’s more than double the state’s average for an entire year. West...

Posted: Apr 10, 2024

US CDC Says Bird Flu Risk Low, but Asks States to Be Ready With Testing

Insurance Journal

The U.S. Centers for Disease Control and Prevention (CDC) said on Monday bird flu risk to the public remains low even as it asked the state public health officials to be prepared to respond. The agency asked for plans to …

Posted: Apr 10, 2024

National Crime Report Shows Vehicle Thefts Surged to More than 1 Million in 2023

Insurance Journal

It was another record-breaking year for vehicle thefts in 2023, with more than one million vehicles reported stolen – an overall increase of 1% nationwide from 2022 to 1,020,729 last year. A report from the National Insurance Crime Bureau shows &#823...

Posted: Apr 10, 2024

More Data Show All Trends Pointing in Right Direction for Florida Insurers

Insurance Journal

Policyholder surplus increased significantly, direct premium written jumped, and combined ratio has fallen for Florida-focused property insurance carriers in 2023, according to a Gallagher Re report released this week. The analysis echoes some of the...

Posted: Apr 10, 2024

Taiwan quake not expected to be a capital event for non-life industry: AM Best

Reinsurance News

As per a new report from AM Best, after a benign natural catastrophe year in 2023, the magnitude 7.2 earthquake that struck Taiwan is not expected to add significant claims and lead to a capital event for the Taiwan non-life industry. The recent e...

Posted: Apr 10, 2024

People Moves: Farmers Insurance Names Coleman President of Business Insurance

Insurance Journal

Farmers Insurance Names Coleman President of Business Insurance Farmers Insurance announced that Eric Coleman has joined the organization as president of Business Insurance, effective April 10. In this role, Coleman is responsible for leading commerc...

Posted: Apr 10, 2024

Slide secures $210m cat bond with closing of Purple Re Ltd.

Reinsurance News

Slide Insurance, a technology enabled insurance firm, has finalised pricing for its $210 million Purple Re Ltd. (Series 2024-1) catastrophe bond, the biggest catastrophe bond yet from the company to date. From what Reinsurance News understands, Pu...

Posted: Apr 10, 2024

Pennsylvania Issues Its ‘Expectations’ for Insurance Carriers Regarding Their Use of AI

Insurance Journal

Pennsylvania has issued guidance for insurance companies’ use of artificial intelligence systems (AIS) based on a model adopted by the National Association of Insurance Commissioners (NAIC). The Pennsylvania Insurance Department issued Notice 2...

Posted: Apr 10, 2024

Inflation Contributes to Rising Loss Costs for U.S. Commercial P/C Insurers: Fitch

Carrier Management

Inflation Contributes to Rising Loss Costs for U.S. Commercial P/C Insur...

Posted: Apr 10, 2024

Verisk Launches Next Generation Catastrophe Models

Carrier Management

Verisk Launches Next Generation Catastrophe Models Verisk, the Jersey City,...

Posted: Apr 10, 2024

EMC’s Updated Brand Centers on ‘Keeping Insurance Human’

Carrier Management

EMC’s Updated Brand Centers on ‘Keeping Insurance Human’ EMC Insurance on Tuesday launched its update...

Posted: Apr 10, 2024

NAPHIA releases pet insurance market figurers

coverager

Guesty's new funding will be used for expansion across the US, enhancing vacation rental offerings with innovative features. 

Posted: Apr 10, 2024

Howden Re bolsters International team with three hires

Reinsurance News

Howden Re (formerly Howden Tiger), the reinsurance broking arm of Howden Group Holdings, has announced the addition of Terrence McDowell, Melodie Vanderpuye, and Hannah Ferriday Lanner to its International team. The rebranding to Howden Re was ann...

Posted: Apr 10, 2024

Boeing Crisis of Confidence Deepens With 787 Now Under Scrutiny

Insurance Journal

Boeing Co. faces a deepening crisis of confidence after an engineer at the US planemaker alleged the company took manufacturing shortcuts on its 787 Dreamliner aircraft in order to ease production bottlenecks of its most advanced airliner. Factory wo...

Posted: Apr 10, 2024

Harrison appointed White Mountains EVP, Caffrey named President

Reinsurance News

White Mountains Insurance Group, has appointed Giles Harrison as Executive Vice President and Chief Strategy Officer, and named Liam Caffrey President of White Mountains. Harrison, who will take over his new role on June 10, 2024, is joining White...

Posted: Apr 10, 2024