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NAIC Elects New Officers for 2025

Insurance Journal

At the conclusion of its fall national meeting in Denver, the National Association of Insurance Commissioners elected new officers for 2025, with North Dakota Insurance Commissioner Jon Godfread to become president. Godfread was first elected commiss...

Posted: Nov 22, 2024

CIAB: All Commercial Lines See Lower Q3 Premium Increases Except Umbrella

Insurance Journal

Respondents of a recent survey reported lower premium increases for all lines of business except umbrella during the third quarter. According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premi...

Posted: Nov 22, 2024

US Charges Five in ‘Scattered Spider’ Hacking Scheme

Insurance Journal

U.S. prosecutors unveiled criminal charges on Wednesday against five alleged members of Scattered Spider, a loose-knit community of hackers suspected of breaking into dozens of U.S. companies to steal confidential information and cryptocurrency. Mart...

Posted: Nov 22, 2024

Florida Citizens’ Brass Tired of ‘Clickbait’ News on its Hurricane Claims Denials

Insurance Journal

Officials with Florida’s Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. &#...

Posted: Nov 22, 2024

Forget Driverless Cars. Here Come Unmanned Helicopters for Firefighting, Crop Protection.

Insurance Journal

When Hector Xu was learning to fly a helicopter in college, he recalled having a few “nasty experiences” while trying to navigate at night. The heart-stopping flights led to his research of unmanned aircraft systems while getting his doct...

Posted: Nov 22, 2024

Forget Driverless Cars. Here Come Unmanned Copters for Firefighting, Crop Protection.

Insurance Journal

When Hector Xu was learning to fly a helicopter in college, he recalled having a few “nasty experiences” while trying to navigate at night. The heart-stopping flights led to his research of unmanned aircraft systems while getting his doct...

Posted: Nov 22, 2024

New ‘Revolution’ in Firefighting, Crop Protection: Unmanned Helicopters?

Insurance Journal

When Hector Xu was learning to fly a helicopter in college, he recalled having a few “nasty experiences” while trying to navigate at night. The heart-stopping flights led to his research of unmanned aircraft systems while getting his doct...

Posted: Nov 22, 2024

Commercial Lines Profit Growth: Execution Matters More Than Portfolio Mix

Insurance Journal

It is “how” commercial lines carriers execute their underwriting strategies, not “what” lines they write that is key to profitable growth for top performers, according to new research from McKinsey. A section of the consulting...

Posted: Nov 22, 2024

New Jersey Bakery Fined $385K After OSHA Says Workers Still Exposed to Hazards

Insurance Journal

A New Jersey commercial baker in Paterson faces $385,221 in federal penalties after a U.S. Department of Labor investigation found the employer failed to correct workplace safety hazards identified in 2023. The department’s Occupational Safety...

Posted: Nov 22, 2024

Ascot appoints Anthony Mandica as Group Head of Internal Audit

Reinsurance News

Ascot, the Bermuda-based global specialty insurance group, has announced the appointment of Anthony Mandica as Group Head of Internal Audit. Mandica will remain based in Ascot’s Iselin, New Jersey office, reporting both to the Ascot Group Limited...

Posted: Nov 22, 2024

NFP Acquires AnchorGroup in Upstate New York

Insurance Journal

Global insurance broker NFP announced it has acquired certain assets of EBA Services LLC, which does business as AnchorGroup, an employee benefits brokerage and consultancy located in Skaneateles, New York. AnchorGroup’s Kiehl Hutchings will jo...

Posted: Nov 22, 2024

Clergy Abuse Victim Whose Parents Kicked Him Out Will Use Settlement to Help Others

Insurance Journal

Duane Gray says the priest at his Connecticut parish began sexually abusing him around 1974, when he was 12 years old. He told his parents, but they didn’t believe it and beat him repeatedly. Then they kicked him out of …

Posted: Nov 22, 2024

Colorado Department of Transportation Report Shows Decline in Dangerous Driving Habits

Insurance Journal

Highway safety officials in Colorado are seeing a slight decline in a number of dangerous driving practices, such as driving while intoxicated, failing to use seat belts and speeding. A poll by the Colorado Department of Transportation assessed the o...

Posted: Nov 22, 2024

Colorado Department of Transportation Report: Decline in Dangerous Driving Habits

Insurance Journal

Highway safety officials in Colorado are seeing a slight decline in a number of dangerous driving practices, such as driving while intoxicated, failing to use seat belts and speeding. A poll by the Colorado Department of Transportation assessed the o...

Posted: Nov 22, 2024

Washington Woman Wanted After Failing to Appear in Court for Insurance Fraud Charges

Insurance Journal

A Federal Way, Washington, woman is on Insurance Commissioner Mike Kreidler’s insurance fraud most wanted list after she failed to appear at her arraignment. Yelena Gruy faces a felony charge for filing a false insurance claim. A warrant was is...

Posted: Nov 22, 2024

Tandem appoints Matt Dobson as Chief Financial Officer

coverager

Dobson succeeds Dave McCarthy.

Posted: Nov 21, 2024

Aviva Integrates Verisk Xactware to Boost Claims Efficiency in Canada

IIR

The integration of Xactimate, XactAnalysis, and XactXpert directly into Aviva’s environment aims to optimizing the insurer’s internal processes

Posted: Nov 21, 2024

ACORD Solutions Group Names James Pring Director of Business Development

IIR

Pring has been a key player in modernizing the London Insurance Market, helping brokers and carriers seamlessly adopt ACORD Standard messaging.

Posted: Nov 21, 2024

AAIS Adopts Akur8 to Enhance Predictive Modeling Capabilities

IIR

AAIS sought to create a repeatable, end-to-end process that includes enhanced visualizations and built-in reports to successfully broaden its use of predictive models.

Posted: Nov 21, 2024

FM Names Lyndon Broad EVP, Staff Insurance Operations

IIR

Broad will lead FM’s core insurance operations, including underwriting; research and engineering; claims; data analytics and AI; and global client services, sales and marketing.

Posted: Nov 21, 2024

Startup Faura Tackles Climate Risk in Insurance with Data-Driven Approach

IIR

Faura CEO Valkyrie Holmes aims to revolutionize how insurers assess property resilience.

Posted: Nov 21, 2024

Sandblast-Contaminated Cheese: Does CGL Pollution or Silica Exclusion Apply?

IA Magazine

While cleaning a water tank, a contractor accidently left the water outlet open. Sandblast media entered the city water supply and contaminated products in a cheese manufacturing facility.

Posted: Nov 21, 2024

Guidewire CEO Vaunts Progress in Cloud Transition

IIR

In his keynote at the Connections event, Mike Rosenbaum noted that client cloud implementations have gone from four to 86, and predicted an ultimate figure of up to 400 users of Guidewire Cloud.

Posted: Nov 21, 2024

Second Teen Charged in New Jersey Forest Fire; New York Hopes Rain Douses Blaze

Insurance Journal

A second teenager was charged with intentionally setting a wildfire in a New Jersey suburb of Philadelphia as “significant” rainfall was expected to help douse a stubborn wildfire burning on the New Jersey-New York border Wednesday. Many...

Posted: Nov 21, 2024

Konsileo raises £8 million

coverager

The company has grown to employ 160 people across the UK.

Posted: Nov 21, 2024

Blacks and Hispanics Pay More for Auto Insurance. Study Tries to Answer Why.

Carrier Management

Blacks and Hispanics Pay More for Auto Insurance. Study Tries to Answer Why. A new study examining potent...

Posted: Nov 21, 2024

Allstate October Catastrophe Losses of $286M Include Milton, Helene

Carrier Management

Allstate October Catastrophe Losses of $286M Include Milton, Helene Allstate today said...

Posted: Nov 21, 2024

Nuclear Verdicts Drive Rising US Liability Claims

Risk & Insurance

Five emerging liability claim trends are reshaping the risk landscape, finds a report by Allianz Commercial. The post Nuclear Verdicts Drive Rising US...

Posted: Nov 21, 2024

James Galvin Appointed as EVP of Employee Benefits Group at Alliant Insurance Services

Risk & Insurance

The latest people news in the industry today. The post James Galvin Appointed as EVP of Employee Benefits Group a...

Posted: Nov 21, 2024

Randy Hodge Appointed as New Chief Operating Officer at FM

Risk & Insurance

The latest people news in the industry today. The post Randy Hodge Appointed as New Chief Operating Officer at FM appeared first on

Posted: Nov 21, 2024

Stan Bernard Promoted to Head of Industry Practices for U.S. Middle Market at Zurich North America

Risk & Insurance

The latest people news in the industry today. The post Stan Bernard Promoted to Head of Industry Pract...

Posted: Nov 21, 2024

Judge Reduces UPS Driver’s $237.6M Bias Verdict to $39.6M

Carrier Management

Judge Reduces UPS Driver’s $237.6M Bias Verdict to $39.6M A federal judge reduced a $237.6 million ju...

Posted: Nov 21, 2024

Despite Bridge Condition Improvement, More Needs to Be Done

Carrier Management

Despite Bridge Condition Improvement, More Needs to Be Done Despite a consistent drop in the number of struc...

Posted: Nov 21, 2024

Cyber Threats, Climate and Business Interruption Risks Top Insurance Buyers/Sellers Concerns

Carrier Management

Cyber Threats, Climate and Business Interruption Risks Top Insurance Buyers/Sellers Concerns Cyber crime,...

Posted: Nov 21, 2024

Kevin Oh Joins Risk Placement Services as National Property President

Risk & Insurance

The latest people news in the industry today. The post Kevin Oh Joins Risk Placement Services as National Property President a...

Posted: Nov 21, 2024