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AI in Insurance: Balancing Innovation and Caution AI & Machine Learning
Posted: Nov 13, 2024
Baloise Holding AG has become one of the most-discussed takeover candidates in the European financial sector, after agitation by an activist investor triggered top industry players to take fresh looks at the Swiss insurer. Zurich Insurance Group AG,...
Posted: Nov 13, 2024
Flood adaptation measures are gaining focus among governments and insurers as research finds the benefit of investing in adaption outweighs cost of rebuilding after a disaster, reports Swiss Re. The post
Posted: Nov 13, 2024
Ambac has revealed that its specialty P&C insurance production, which includes gross written premiums (GWP) by its Specialty P&C Insurance segment, Everspan, and premiums placed by the Insurance Distribution segment, totalled $260 million...
Posted: Nov 13, 2024
A federal jury on Tuesday found U.S. defense contractor CACI International liable for its role in torture at the Abu Ghraib prison near Baghdad during the Iraq war and ordered it to pay $42 million in damages. The jury’s verdict …
Posted: Nov 13, 2024
Who gets to keep an engagement ring if a romance turns sour and the wedding is called off? That’s what the highest court in Massachusetts was asked to decide with a $70,000 ring at the center of the dispute. The …
Posted: Nov 13, 2024
HDI Global, a corporate and specialty insurer, is expanding its Environmental Liability Insurance to the international market adding Social and Governance coverage, addressing the growing concerns around evolving risk contexts and increasing regul...
Posted: Nov 13, 2024
Whether it's the project finance side or insurance broking itself, crafting solutions that strike a balance for all stakeholders brings broker Todd Burack joy in his job every day. The post
Posted: Nov 13, 2024
Probitas has announced the addition of five new lines of business following its integration with Aviva, including Marine (Cargo, Fine Art & Specie, Ports & Terminals), Construction, Renewable Energy, Contingency/Event Cancellation, and Mer...
Posted: Nov 13, 2024
South Africa declared a national disaster after floods and storms caused widespread damage in the country, allowing the government to free up funds for relief and reconstruction. Disruptive rains, floods, strong winds and hail from Oct. 22 to Oct. 29...
Posted: Nov 13, 2024
Everest Insurance, the insurance division of Bermuda-domiciled re/insurer Everest Group, has made two key leadership appointments within its US Casualty business. Nina Corbo has been named Head of US Primary Casualty, meanwhile, Debbie Weiser has...
Posted: Nov 13, 2024
Italian Sea Group is not liable in relation to the fatal sinking of Mike Lynch’s superyacht, which killed the British tech billionaire and six others, its chief executive said on Tuesday. The Bayesian was built in 2008 by Perini Navi, …
Posted: Nov 13, 2024
Argentine fintech company Ualá has raised $300 million from investors at a valuation of $2.75 billion, the latest funding haul for one of the most valuable startups in Latin America. The Series E round was led by Allianz X, the …
Posted: Nov 13, 2024
Fidelis Insurance Group has disclosed a Q3 2024 net income of $100.6 million, up from $87.7 million in the same period of last year, despite catastrophe and large losses increasing to $91.6 million. Fidelis’ underwriting income in Q3 2024 wa...
Posted: Nov 13, 2024
Brazilian reinsurer IRB (Re) has announced its financial results for the third quarter of 2024, reporting an improved net income of R$116 million (USD 20.18 million), as well as an underwriting profit of around R$118 million (USD 20.52 million). I...
Posted: Nov 13, 2024
This post is part of a series sponsored by AgentSync. Assess your distribution channels’ ability to scale efficiently, reduce risk, and drive sustainable growth. In insurance, distribution goes beyond checking a box (or twenty) to stay complian...
Posted: Nov 13, 2024
Somerset Reinsurance Ltd., a provider of reinsurance solutions for the life insurance and annuity market, has named Riley LaTour as its new Chief Risk Officer (CRO), effective immediately, based in Bermuda. In this new role, LaTour will be respons...
Posted: Nov 13, 2024
In its Q3 2024 results, Allianz has revealed that net income attributable to shareholders was €2.5 billion, up from €2 billion in the same period of last year, driven by a higher operating profit. Allianz also disclosed that total business volume...
Posted: Nov 13, 2024
The U.S. Federal Emergency Management Agency (FEMA) has said that Hurricane Helene could drive National Flood Insurance Program (NFIP) claims of up to $7 billion, including loss adjustment expenses, with more than 55,000 flood loss claims reported...
Posted: Nov 13, 2024
Global insurer American International Group, Inc. (AIG) has appointed Christopher Schaper as its new Chief Risk Officer on a permanent basis, effective immediately. He has held the same role on an interim basis since September 2024, while also ser...
Posted: Nov 13, 2024
Sedgwick, a global provider of claims management, loss adjusting and technology-enabled business solutions, has announced the closing of a $1 billion investment in the company led by Altas Partners, a North American private equity firm. Current in...
Posted: Nov 13, 2024
Gallagher Bassett, a provider of risk and claims management services and a wholly owned subsidiary of brokerage Arthur J. Gallagher & Co., has announced the appointment of Ajay Sinha as Managing Director — Captive Practice. In a recent LinkedI...
Posted: Nov 13, 2024
In an effort to effectively manage risk, re/insurers are continuing the use of capital markets to access catastrophe bonds amid a firm market, driving up the issuance of insurance-linked securities (ILS), a trend that is expected to persist, Fitch...
Posted: Nov 13, 2024
Assured Guaranty Ltd. (AGL) has released its financial results for the third quarter of 2024, which includes a net income of $171 million in comparison to $157 million from the third quarter of 2023. At the same time, the firm posted an adjusted o...
Posted: Nov 13, 2024
Meta Platforms Inc. rebuffed the Federal Trade Commission’s plans to modify a 2020 privacy settlement with the company, arguing that such a move would need approval from a federal court. A Meta lawyer told the FTC’s five commissioners at...
Posted: Nov 13, 2024
“Make America Great Again” has long been a signature phrase at Donald Trump’s rally speeches. Its recent offshoot, “Make America Healthy Again” or MAHA, is now spreading on social media as fitness influencers and parents...
Posted: Nov 13, 2024
NFP Appoints Boester Head of Sports and Entertainment Group NFP, an Aon company headquartered in New York City, named Eric Boester, its chief marketing officer (CMO), as the new head of its sports and entertainment group. The group advises leagues &#...
Posted: Nov 13, 2024
American International Group said Christopher Schaper has been appointed chief risk officer of AIG. Schaper has held the role of chief risk officer on an interim basis since September, while also serving as AIG’s global chief underwriting offic...
Posted: Nov 13, 2024
US Premium Finance, a division of Atlanta-based Ameris Bank, named Alan Malone director of sales and marketing. Malone has more than 30 years of experience in insurance premium finance. He was previously senior vice president and regional sales manag...
Posted: Nov 13, 2024
Plains All American Pipeline has agreed to pay $72.5 million to settle a lawsuit over the 2015 Refugio Beach oil spill in Santa Barbara, a filing showed on Tuesday. The spill occurred after a pipeline, which ran across California’s coastline, &...
Posted: Nov 13, 2024
Alphabet’s Waymo said on Tuesday its autonomous ride-hailing service, Waymo One, is now available to everyone in Los Angeles, a sign of rapid growth and adoption of the technology. Waymo had closed a $5.6 billion funding round last month, as &#...
Posted: Nov 13, 2024
BBVA Corporate & Investment Banking (CIB) has announced the expansion of its client advisory services with the formation of a dedicated insurance financial advisory team. With this addition, BBVA CIB strengthens its capacity to offer customise...
Posted: Nov 13, 2024
Sarah Palin and the New York Times have explored trying to settle the former Alaska governor and Republican U.S. vice presidential candidate’s closely watched defamation case against the newspaper, their lawyers said on Tuesday. The disclosures...
Posted: Nov 13, 2024
The U.S. Department of Labor (DOL) has recovered a total of $310,193 in back wages and liquidated damages from a Bedford, New Hampshire, landscaper and contractor who underpaid 60 employees. The fund recovery comes following an investigation by the D...
Posted: Nov 13, 2024
The U.S. Department of Labor (DOL) has recovered a total of $310,193 in back wages and liquidated damages from a Bedford, New Hampshire, landscaper and contractor who underpaid 60 employees. The fund recovery comes following an investigation by the D...
Posted: Nov 13, 2024
Inszone Insurance Services acquired Springbrook Insurance Agency in San Diego, California. Charlene and John Drapp will be staying on after the transition to Inszone Insurance. Springbrook Insurance Agency offers insurance services with a primary foc...
Posted: Nov 13, 2024
Owners Professional and Protective Insurance, or OPPI, coverage provides an additional layer of professional liability for project owners, keeping their assets covered and their buildings secure. The post
Posted: Nov 13, 2024
Liberty Mutual’s Safeco Insurance has agreed to take the personal lines business of Main Street America, marking the second time in two months that Safeco has stepped in to assume a personal lines book of business from another insurer. Main ...
Posted: Nov 13, 2024
Insurance Information Institute
For Immediate Release New York Press Office: Loretta Worters, 917-208-8842, [email protected] MALVERN, Pa., Nov. 13, 2024— Inland areas are increasingly vulnerable to flooding from both tropical storms and severe convective storms, yet the number of...
Posted: Nov 12, 2024
The proceeds from the investment will be used by Ascot to help expand resources and support strategic growth plans.
Posted: Nov 12, 2024
The second of its offshort CoE’s, after Inida, the Warsaw-based facility will allow a dual-CoE approach to distribute work effectively, manage risks associated with talent shortages or geopolitical events, and bolster customer service worldwide.
Posted: Nov 12, 2024
From January 1, 2025, Anthony Shapella will be promoted into the role of Group Chief Underwriting Officer.
Posted: Nov 12, 2024
Betsy Ward will retire at the end of this year.
Posted: Nov 12, 2024
Treasury management platform Agicap announced a $48 million Series C funding round led by AVP.
Posted: Nov 12, 2024
The company’s principal office is located at 1950 Opportunity Way, Suite 1500, Reston, VA 20190—the headquarters of Volkswagen Group of America.
Posted: Nov 12, 2024