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While a $2.4 billion boost in loss reserves for the third-quarter will help Swiss Re’s executives sleep better on a bigger cushion, across the industry, worsening trends in U.S. liability loss costs aren’t letting up, they said yesterday....
Posted: Nov 15, 2024
Progressive, the property and auto-focused insurance group, reported $206.5 million in incurred vehicle losses, including boats and recreational vehicles, on a companywide basis related to Hurricane Milton and unfavourable development from Hurrica...
Posted: Nov 15, 2024
Global insurer Generali’s natural catastrophe losses came in roughly 100 basis points above budget for the first nine months of 2024, and as the firm’s portfolio continues to expand a higher nat cat budget is expected for 2025, althoug...
Posted: Nov 15, 2024
The tool is available in 13 countries and 10 languages.
Posted: Nov 15, 2024
Ken Carter was appointed to the newly created position of Chief Claims Officer.
Posted: Nov 15, 2024
Aegis Executive Risks (AER), a division of Aegis General Insurance Agency and K2 Insurance Services, is pleased to announce the launch of its new Management Liability insurance program. This comprehensive offering is designed to protect executives...
Posted: Nov 15, 2024
A frustrated bankruptcy judge said he has concerns over the process in which satirical news site The Onion won an auction for right-wing provocateur Alex Jones’ Infowars website. Saying he was dissatisfied with the transparency of the sale proc...
Posted: Nov 15, 2024
A North Carolina man gas been charged with obtaining property by false pretense and common law forgery, both felonies. North Carolina Insurance Commissioner Mike Causey announced the arrest of David Fitzgerald Bishop Jr., of Winston-Salem. According...
Posted: Nov 15, 2024
The recent mountain fire which broke out on November 6 in Ventura County of Southern California is expected to drive notable insured losses, according to global insurance and reinsurance broking group Aon. The start of the wildfire in southern Cal...
Posted: Nov 15, 2024
A driver has died after going around a barricade and driving off the edge of a hurricane-damaged North Carolina highway that became a symbol of Hurricane Helene’s destruction. Photos of Interstate 40 with multiple lanes washed out by Helene nea...
Posted: Nov 15, 2024
For years, neighbors who lived near a factory in Louisville, Kentucky, complained amongst themselves and to local officials about a variety of strange smells coming from the plant, which produces colorings for food and drinks. Some described it as an...
Posted: Nov 15, 2024
EPIC Insurance Brokers & Consultants, a national insurance brokerage firm, is strengthening its leadership team with two significant executive promotions to better serve its specialised clients and employees. Philip V. Moyles has been appointe...
Posted: Nov 15, 2024
Argyle Insurance and Mitsui Sumitomo Insurance have entered into a multi-year capacity agreement, marking the start of a strategic partnership aimed at enhancing business insurance options for Australian SMEs. Beginning January 1, 2025, this partn...
Posted: Nov 15, 2024
Tropical Storm Sara has formed off the coast of Honduras, threatening to unleash catastrophic flooding and landslides across Central America. Sara, the Atlantic’s 18th named storm this season, had top winds of 40 miles (64 kilometers) per hour...
Posted: Nov 15, 2024
The U.S. International Development Finance Corporation (DFC) will provide $50 million, in coordination with Aon, in political risk insurance (PRI) for a new reinsurance facility to ARX, an Ukrainian subsidiary of Fairfax Financial Holdings Limited...
Posted: Nov 15, 2024
Finance minister Rachel Reeves on Thursday promised a reboot of regulation governing Britain’s “crown jewel” financial industry which she said has shackled the City’s global prospects since the global financial crisis and stif...
Posted: Nov 15, 2024
A coalition of eleven associations, spearheaded by Insurance Europe, is urging the European Commission to establish EU-wide regulations for private Third-Party Litigation Funding (TPLF). TPLF involves private investors, unconnected to the lawsuit,...
Posted: Nov 15, 2024
Insurance Business Magazine - US
Posted: Nov 15, 2024
Insurance Business Magazine - US
Posted: Nov 15, 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has announced the acquisition of Essex-based One Claim Limited. The UK company provides broker partners and their clients with claims management support from initial notification throug...
Posted: Nov 15, 2024
A Brazilian federal court ruled miners Vale, BHP Group and their joint venture Samarco are not criminally liable for the deadly 2015 Fundao tailings dam collapse, according to a statement from the court on Thursday. The dam collapse at an …
Posted: Nov 15, 2024
The European Union is working on a new package of sanctions aimed at targeting the shadow fleet of tankers Russia is using to get its oil to market, according to people familiar with the matter. The package, which the bloc …
Posted: Nov 15, 2024
Rachel Reeves, Chancellor of the Exchequer, has revealed that the government is consulting on introducing a new framework for UK-based captive insurance companies to make the UK insurance market a more attractive hub for firms seeking efficient ri...
Posted: Nov 15, 2024
Skyward Specialty, a property and casualty (P&C) insurer, has announced the addition of Life Sciences liability coverage to its Healthcare Solutions underwriting unit, which now will offer tailored protection for life sciences needs. The life...
Posted: Nov 15, 2024
The Texas Windstorm Insurance Association (TWIA) has projected that it might need almost $5.8 billion in reinsurance limit for 2025 as 20% exposure growth lifts its projected 1-in-100 year probable maximum loss (PML) to $7.8 billion, while total l...
Posted: Nov 15, 2024
Aspen Insurance has reported a Q3 2024 net income available to ordinary shareholders of $42.9 million, with an underwriting income of $33 million and a total combined ratio of 95.2%. The underwriting income figure of $33 million in Q3 2024 compare...
Posted: Nov 15, 2024
Just Group, a specialist UK financial services company, has completed a £1.8 billion full buy-in with the Trustee of the G4S Pension Scheme, covering the benefits of around 22,500 members. This has become Just’s largest insurance de-risking transa...
Posted: Nov 15, 2024
Italian insurer Generali has reported a 5% year-on-year increase in its net result to €3 billion for the first nine months of 2024, as gross written premiums (GWP) across the group rose 18% to €70.7 billion amid strong growth in both P&C and l...
Posted: Nov 15, 2024
Applied Systems has released the third quarter 2024 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index, showing that average premium rates decreased year-over-year across the most commonly placed commerci...
Posted: Nov 15, 2024
Posted: Nov 15, 2024
Posted: Nov 15, 2024
AM Best, the global credit ratings agency, is maintaining a stable outlook on the New Zealand non-life insurance segment, citing the sector’s robust premium growth supported by rate adjustments, notably within the property, motor and commerc...
Posted: Nov 15, 2024
FM, a commercial property insurer, has appointed Randy Hodge as Chief Operating Officer (COO), effective December 1, 2024. Hodge will succeed Bret Ahnell, who is set to retire in March 2025. Ahnell joined the company in 1997 and has held various s...
Posted: Nov 15, 2024
In their financial results for the third quarter of 2024, Conifer Holdings has posted a $61 million gain from the sale of its insurance agency operations to Bishop Street Underwriters, which was completed in August of this year. At the same time,...
Posted: Nov 15, 2024
The Occupational Safety and Health Administration said its enforcement has led to fewer workers dying. OSHA, a part of the Department of Labor, said it investigated 826 worker deaths in fiscal year 2024. This is an 11% reduction from 928 …
Posted: Nov 15, 2024
Zurich North America, headquartered in Schaumburg, Illinois, promoted Stan Bernard to head of industry practices for U.S. Middle Market. Bernard succeeds Lynn Zeitler, who is retiring in December after 31 years with Zurich. Bernard, who is based in M...
Posted: Nov 15, 2024
Ford Motor Co. agreed to a $165 million civil penalty to settle allegations the company failed to recall cars with defective rearview cameras in a timely manner, the second-largest fine ever levied by the National Highway Traffic Safety Administratio...
Posted: Nov 15, 2024
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has partnered with ICEYE, a provider of satellite-based disaster management solutions, to offer real-time catastrophe insights to property and ca...
Posted: Nov 15, 2024
Underwriting carrier Emerald Bay Risk Solutions announced a partnership with Vanderbilt Properties Associates, Inc., a risk purchasing group comprising a large portfolio of high-end residential and commercial real estate properties as its members, to...
Posted: Nov 15, 2024
A federal judge set an April retrial date on Tuesday for Sarah Palin’s libel case against The New York Times, even as lawyers on both sides for the first time said they hope to engage in talks to settle the …
Posted: Nov 15, 2024
The U.S. Department of Labor (DOL) has filed suit to recover back wages, liquidated damages, punitive damages and injunctive relief from a Tonawanda, New York construction contractor that allegedly underpaid employees and tried to have employees who...
Posted: Nov 15, 2024
The U.S. Department of Labor (DOL) has filed suit to recover back wages, liquidated damages, punitive damages and injunctive relief from a Tonawanda, New York construction contractor that allegedly underpaid employees and tried to have employees who...
Posted: Nov 15, 2024