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Insurance Business Magazine - US
Posted: Dec 09, 2024
Insurance Business Magazine - US
Posted: Dec 09, 2024
Insurance Business Magazine - US
Posted: Dec 09, 2024
Subsidence Highlights Dangers of Sinkholes, Abandoned Mines Swaths of Pennsylvania and many other state...
Posted: Dec 09, 2024
AM Best has affirmed the credit ratings for Bermuda-based Lancashire Holdings Limited and its subsidiaries, assigning a stable outlook. The agency affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating...
Posted: Dec 09, 2024
A North Carolina elementary school principal and a Cape Hatteras man were arrested last week and charged with insurance fraud after authorities said they attempted to make false claims to their insurance companies. Robert Grayson Dail, 35, of Gibsonv...
Posted: Dec 09, 2024
New Mexico environmental regulators have issued a $47.8 million fine on allegations of excess air pollution at a natural gas processing facility in a prolific oil production region near the Texas state line. The state Environment Department issued th...
Posted: Dec 09, 2024
The use of warranty and indemnity (W&I) insurance reached record levels in the first half of 2024, with 1,540 policies placed and an increase in claims and payouts, according to a market study by HWF Partners. W&I insurance protects partie...
Posted: Dec 09, 2024
An increase in the number of earthquakes under a volcano near Alaska’s largest city this year has geologists paying attention. Mount Spurr, about 80 miles northwest of Anchorage, last erupted in 1992, spewing an ash cloud nearly 12 miles into &...
Posted: Dec 09, 2024
(AP) — The president of Atlanta-based Tyler Perry Studios died Friday night when the small plane he was piloting crashed on Florida’s Gulf Coast. The studio confirmed on Saturday that Steve Mensch, its 62-year-old president and general manager,...
Posted: Dec 09, 2024
ORLANDO, Fla. (AP) — The parents of a 14-year-old Missouri boy who fell to his death from an Orlando amusement park ride in 2022 have won a $310 million verdict against the attraction’s Austrian builder. Late Thursday, the Orange County …
Posted: Dec 09, 2024
WNS, a digital-led business transformation and services partner, has extended its transformation-led strategic engagement with specialty and P&C lines re/insurer, Canopius Group. Through this collaboration, WNS aims to strengthen Canopius̵...
Posted: Dec 09, 2024
Moody’s Ratings has issued a stable outlook for the US life insurance sector in 2025, citing steady economic growth, and sustained high interest rates as key drivers. Moody’s forecasts that the US economy will grow at a pace of 2% in 2...
Posted: Dec 09, 2024
Insured Losses From Natural Disasters Top US$100B for 5th Consecutive Year: Swiss Re...
Posted: Dec 09, 2024
Additional details about MetLife’s participation in the Workday Wellness program will be shared in 2025.
Posted: Dec 09, 2024
Excessive rains have triggered a payout of $4.665 million from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) within two weeks for The Government of Honduras. The event took place from 14th to 19th of November, significantly impacting r...
Posted: Dec 09, 2024
Arthur J. Gallagher this morning said it has entered into an agreement to acquire AssuredPartners for $13.45 billion cash to expand its reach in the U.S. middle-market property/casualty and employee benefits space. “We have held in high regard...
Posted: Dec 09, 2024
K2 Group Holdings Limited, a division of K2 Insurance Services and a London-based specialty insurance and reinsurance underwriting platform, has announced the opening of its box in Lloyd’s of London. Three divisions of K2 International will be rep...
Posted: Dec 09, 2024
Japanese utility Tokyo Electric Power Co. said it removed nuclear fuel debris left inside a reactor in a demonstration at its Fukushima power plant, 13 years after a meltdown. Radioactive debris was removed from unit 2 at Fukushima Dai-ichi Nuclear &...
Posted: Dec 09, 2024
Global asset manager Invesco has announced the appointment of Joe Steidl as Head of UK Insurance Distribution. Based in London, Steidl will report to Sachin Bhatia, Head of UK Pensions & EMEA Consultant Relations. In his new role, Steidl will...
Posted: Dec 09, 2024
Arthur J. Gallagher & Co. today announced it has signed a definitive agreement to acquire AssuredPartners, a US insurance broker with client capabilities across commercial property/casualty, specialty, employee benefits and personal lines, for...
Posted: Dec 09, 2024
This year is “effectively certain” to be the warmest on record with temperatures climbing above a closely watched threshold for the first time. The average global temperature reached 1.62C above pre-industrial levels in November, accordin...
Posted: Dec 09, 2024
A former Allianz SE hedge-fund manager avoided prison and will instead spend 18 months in home confinement for fraudulently inflating the value of funds that ultimately collapsed, resulting in $3.2 billion in investor losses. Gregoire Tournant, the f...
Posted: Dec 09, 2024
The Brazilian insurance regulator, Superintendence of Private Insurance (SUSEP), has approved the country’s first insurance-linked securities (ILS) structure, Andrina, sponsored by IRB Re. The authorisation allows Andrina Sociedade Segurador...
Posted: Dec 09, 2024
Allianz SE has temporarily halted talks with Amundi SA over combining its Allianz Global Investors asset management arm with the French company. The two sides were unable to agree on a deal structure, including control of the combined entity, accordi...
Posted: Dec 09, 2024
Independent specialist re/insurance broker Miller has appointed Elizabeth McGonagle as Head of Power, Asia Pacific, a role based in Singapore effective January 2025. McGonagle holds over a decade of experience in the sector, most recently as Regio...
Posted: Dec 09, 2024
AM Best believes the recent changes to the UK’s personal injury discount rate (PIDR), also known as the Ogden Discount Rate, will positively impact the country’s non-life insurers. The UK government announced an increase in the rate fr...
Posted: Dec 09, 2024
The cost of insuring against sovereign debt defaults in the Gulf states has risen significantly over the past year, bucking the global trend, according to new research from Chaucer, a global specialty re/insurance group. This increase comes despit...
Posted: Dec 09, 2024
Posted: Dec 09, 2024
Amid a crippling drought characterised by a delayed onset of rains and prolonged dry spells, refugees at Dzaleka Camp in Malawi received funds last month to prepare for the new agricultural season. These funds were facilitated as part of the Afric...
Posted: Dec 09, 2024
The Consumer Financial Protection Bureau said it’s claiming supervisory authority over Google Payment Corp., as the agency extends its oversight of nonbank financial platforms. The unit of Alphabet Inc. promptly filed a lawsuit to fight the mov...
Posted: Dec 09, 2024
The U.S. issued a federal order on Friday mandating that the national milk supply be tested for bird flu, Agriculture Secretary Tom Vilsack told Reuters, as authorities seek to grapple with rapid spread of the virus among dairy herds. Bird …
Posted: Dec 09, 2024
U.S. judge on Friday said Southwest Airlines must face a lawsuit by a prominent affirmative action opponent claiming a now-defunct program that awarded free flights to Hispanic college students was racially discriminatory. U.S. District Judge Sidney...
Posted: Dec 09, 2024
When hurricanes hit coastal areas, property insurers often breathe a sigh of relief when much of the damage appears to be the result of storm surge and flooding – losses that aren’t covered by most homeowners’ policies. But after Hurrican...
Posted: Dec 09, 2024
Medical device maker Insulet convinced a jury that Korean rival EOFlow owes it $452 million in damages for stealing trade secrets related to insulin pumps, according to a verdict made public in Massachusetts federal court on Thursday. The jury in ...
Posted: Dec 09, 2024
Medical device maker Insulet convinced a jury that Korean rival EOFlow owes it $452 million in damages for stealing trade secrets related to insulin pumps, according to a verdict made public in Massachusetts federal court on Thursday. The jury in ...
Posted: Dec 09, 2024
The Lloyd’s Market Association (LMA), representing the interests of insurance market participants at Lloyd’s, has revealed the International Bodily Injury Index, a resource that tracks personal injury awards globally. This index is a strateg...
Posted: Dec 09, 2024
The Lloyd’s Market Association (LMA), representing the interests of insurance market participants at Lloyd’s, has revealed the International Bodily Injury Index, a resource that tracks personal injury awards globally. This index is a strateg...
Posted: Dec 09, 2024
The father of the victim at the center of the fatal New York City subway chokehold trial has sued the defendant as a Manhattan jury continued to deliberate the case Thursday. Jordan Neely ‘s father, Andre Zachary, filed the suit …
Posted: Dec 09, 2024
The powerful earthquake that struck in Northern California on Thursday prompted a brief tsunami warning affecting about 5 million people along a stretch of the West Coast — from Northern California to Oregon — before being canceled. Here are some ...
Posted: Dec 09, 2024
SCOTTSDALE, Ariz., December 9, 2024 – Etesian Underwriters, an expert financial institutions underwriting shop, today announced the launch of its program for middle market and smaller sized financial institution insureds. Focused on a robust list of...
Posted: Dec 09, 2024
The California SURE business owners policy (BOP) product is designed for small to midsized business owners in California. It is available for more than 400 business classes across eight industries.
Posted: Dec 08, 2024
Here are five proactive ways to maximize your chances of successfully defending against an errors & omissions claim.
Posted: Dec 08, 2024
The transaction, the largest sale ever of a U.S. insurance broker to a strategic acquirer, will strengthen Gallagher's U.S. middle-market property & casualty and employee benefits focus.
Posted: Dec 08, 2024
Recent cases highlight the vulnerabilities and the need for proactive measures.
Posted: Dec 08, 2024