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Grange Insurance Company, headquartered in Columbus, Ohio, named Nicole Carter as vice president, personal lines sales and strategic distribution, effective Jan. 1, 2025. Carter has nearly 30 years of experience in the insurance industry. Before join...
Posted: Nov 07, 2024
The Biden administration is racing to complete a study that could complicate President-Elect Donald Trump’s plan to immediately approve new liquefied natural gas export terminals, according to people familiar with the matter. The study, underwa...
Posted: Nov 07, 2024
President and Chief Executive Officer (CEO) of Bermudian reinsurer RenaissanceRe (RenRe), Kevin J. O’Donnell, expects U.S. catastrophe limit purchases to increase by around $10 billion in 2025, and foresees property cat reinsurance rates tra...
Posted: Nov 07, 2024
Recognising cyber as one of the most significant systemic and emerging risks, Lloyd’s and the Association of British Insurers (ABI) have jointly published a guide to help re/insurers define major events and identify key factors to consider. Accord...
Posted: Nov 07, 2024
Managing general underwriter SageSure and Auros Reciprocal Insurance Exchange, a Mississippi-domiciled property insurer, have partnered to launch homeowners solutions to Louisiana and Mississippi. Auros is the third reciprocal exchange formation s...
Posted: Nov 07, 2024
Westfield Specialty International, a global insurance provider, has received approval from Lloyd’s for its 2025 Syndicate Business Forecast, setting it at £774 million—a rise of £56 million, or 8%, over the 2024 forecast. Since acquiring the Syndi...
Posted: Nov 07, 2024
U.S. Auto Safety Agency Ends Ford Engine Failure Probe After Recall, Warranty Extension The U.S. govern...
Posted: Nov 07, 2024
Posted: Nov 07, 2024
This edition of International People Moves details appointments at the brokers Marsh and Clear Group. A summary of these new hires follows here. Marsh Names Fraser as Int’l Corporate & Commercial Leader Marsh, the insurance broker, risk adv...
Posted: Nov 07, 2024
Global insurance and reinsurance broker Aon has joined the Asia Investor Group on Climate Change (AIGCC) as a member with risk capital capabilities. As a member, Aon will contribute to developing market-based climate solutions for increasing resil...
Posted: Nov 07, 2024
SageSure, a managing general underwriter for catastrophe-exposed markets, said it has joined with Auros Reciprocal Insurance Exchange to bring more homeowners coverage to Louisiana and Mississippi. Auros is a property insurance company domiciled in M...
Posted: Nov 07, 2024
CFC, an insurance provider with expertise in cyber risk, has announced that it is expanding its corporate cyber offering by launching a team dedicated to supporting brokers across Europe. With established offices in Brussels and Madrid and plans t...
Posted: Nov 07, 2024
Volkswagen will recall 114,478 vehicles in the United States on concerns over the driver-side airbag, the National Highway Traffic Safety Administration said on Thursday. The recall consists of some Beetle and Passat vehicles from model years 2006-20...
Posted: Nov 07, 2024
H.W. International B.V., the Amsterdam-based, privately owned insurance broker, announced the sale of H.W. Wood Ltd. and HWI France to Steadfast Group, the largest general insurance broker network and underwriting agency group in Australasia and owne...
Posted: Nov 07, 2024
Bermuda-domiciled reinsurer RenaissanceRe (RenRe) has appointed Loretta J. Mester as an Independent Director, effective November 6, 2024, following the retirement of Brian G. J. Gray, who had served as a Board member since 2013. Most recently, Dr....
Posted: Nov 07, 2024
Members can submit claims through the Counter platform for access to funds.
Posted: Nov 07, 2024
Auros received its certificate of authority in Mississippi earlier this year and has $25 million in initial policyholder surplus.
Posted: Nov 07, 2024
Insurance Business Magazine - US
Posted: Nov 07, 2024
A 44-year-old South Carolina man was sentenced to 18 months in prison after he pleaded guilty to an auto insurance fraud scheme that targeted elderly drivers in parking lots. In 2020 through 2022, Cornelius Jones, 44, of Lake City, would …
Posted: Nov 07, 2024
A 44-year-old South Carolina man was sentenced to 18 months in prison after he pleaded guilty to an auto insurance fraud scheme that targeted elderly drivers in parking lots. In 2020 through 2022, Cornelius Jones, 44, of Lake City, would …
Posted: Nov 07, 2024
Liberty Mutual Holding Company Inc. (LMHC) and its subsidiaries has posted a net income attributable to LMHC of $892 million for the third quarter of 2024, a notable shift from last year’s income of $219 million, while also posting consolida...
Posted: Nov 07, 2024
Liberty Mutual Holding Company said consolidated third quarter net income more than quadrupled to $897 million compared to $215 million during the same period a year ago. Catastrophe losses remained elevated at nearly $1.1 billion, nearly matching th...
Posted: Nov 07, 2024
Property and casualty (P&C) holding company, American Coastal Insurance Corporation (ACIC) has posted a $28.1 million net income for the third quarter of 2024, an improved figure compared to the $10.6 million income that was posted in the thir...
Posted: Nov 07, 2024
The Washington State Department of Labor & Industries is levying more than $126,000 in fines for 61 reported safety and health violations by a lumber seller. Fox Lumber Sales buys leftover wood, cuts it down, and sells it for pallet …
Posted: Nov 07, 2024
Gallagher Re, a reinsurance broker, has released its latest InsurTech report, revealing that AI-focused InsurTechs raised $897.4 million across 29 deals in Q3 2024. Eight of the top 10 companies by funding round were centred around artificial inte...
Posted: Nov 07, 2024
Chaucer Offers Nuclear Power Stations Insurance for Cyber Attacks Chaucer...
Posted: Nov 07, 2024
How Trump’s Second Administration Affects Business: Musk, Tariffs and More Dona...
Posted: Nov 07, 2024
Cuba’s Electrical Grid Down After Hit From Hurricane...
Posted: Nov 07, 2024
Loadsure, an insurtech managing general agent (MGA), has partnered with Google Cloud to develop an AI-powered claims verification system that processes claims more efficiently and accurately. Traditionally, insurance claims processing has been lab...
Posted: Nov 07, 2024
Paul Cooper, Group Chief Financial Officer of Hiscox, has noted that in light of recent catastrophe activity, rates are expected to remain robust, creating “very attractive” conditions in the property cat market. As a result, the compa...
Posted: Nov 07, 2024
The maker of Evian spring water, Danone, won the dismissal of a lawsuit on Tuesday accusing it of defrauding consumers with labels that claim the water is “natural” even though it contains microplastics that seep from the bottle. U.S. Dis...
Posted: Nov 07, 2024
Heritage Insurance Holdings has released its financial results for the third quarter of 2024, which includes a net income of $8.2 million, a solid improvement compared to the $7.4 million net loss that the firm posted in the prior year period. Acc...
Posted: Nov 07, 2024
Policyholders in the renewable energy insurance market are paying between 20%-40% more for cover today than a year ago as insurers seek to recover the cost of “devastating claims” in regions hit by natural catastrophes, industry sources s...
Posted: Nov 07, 2024
Christoph Jurecka, Chief Financial Officer (CFO) of global reinsurer Munich Re, said this morning that he expects property catastrophe reinsurance rates, overall, to be flat on average at the January 1st, 2025, renewals, despite the elevated level...
Posted: Nov 07, 2024
This year is “virtually certain” to eclipse 2023 as the world’s warmest since records began, the European Union’s Copernicus Climate Change Service (C3S) said on Thursday. The data was released ahead of next week’s U.N....
Posted: Nov 07, 2024
Zurich has released its financial results for the first nine months of 2024, reporting a “robust performance” as gross written premiums (GWP) for its P&C segment rose 4% and insurance revenue was up 6% with rate increases of 5% year-on-year. T...
Posted: Nov 07, 2024
Parametrix has launched “Parametrix Enterprise Solutions”, a new type of parametric cyber insurance that covers the costs associated with digital interruptions. Parametrix, a specialist in parametric cloud downtime cyber insurance and...
Posted: Nov 07, 2024
A recent work injury encounter reiterates the need for those in the WC space to share the lessons learned and the problems solved. The post
Posted: Nov 07, 2024
Bermuda-domiciled re/insurer Hamilton Insurance Group has reported a slightly increased combined ratio of 93.6%, with an underwriting income of $29.1 million for the third quarter of 2024. The reinsurer reported catastrophe losses (current and pri...
Posted: Nov 07, 2024
ORANGE, CA, November 6, 2024 – CITA Insurance Services and Ascot Insurance Company (Ascot) have partnered to deliver a new real estate agents and brokers error & omissions (E&O) program nationwide. This admitted insurance product was designed...
Posted: Nov 07, 2024
Preliminary estimates from global reinsurance broker Gallagher Re have placed the potential public and private insured losses from October’s Spanish floods between €1.5 billion and €2.5 billion ($1.6 billion and $2.7 billion). It’s imp...
Posted: Nov 07, 2024
Digital risk processing platform Cytora has entered into a partnership with data intelligence platform Dataplor, which will enable property insurance underwriters to gain access to a wide range of location data via Cytora’s platform. This integrat...
Posted: Nov 07, 2024
Zurich Insurance Group said on Thursday that its exposure to Hurricanes Helene and Milton, which recently wreaked havoc in the United States, would be less than $360 million, as insurers face increasing losses from natural catastrophes. Analysts expe...
Posted: Nov 07, 2024