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Posted: Oct 24, 2024
A Texas federal judge with a record of ruling in favor of conservative causes injected uncertainty into Boeing’s agreement to plead guilty over two fatal 737 MAX plane crashes, seizing upon a single sentence in the deal about the U.S. …
Posted: Oct 24, 2024
Oka, The Carbon Insurance Company (Oka) has introduced a lineslip for its innovative Article 6 insurance solution, Corresponding Adjustment Protect. Corresponding Adjustment Protect is the first-ever policy designed to protect voluntary carbon cre...
Posted: Oct 24, 2024
An Iranian hacking group is actively scouting U.S. election-related websites and American media outlets as election day nears, according to a Microsoft blog published on Wednesday. Researchers say the activity suggests “preparations for more di...
Posted: Oct 24, 2024
Commercial property insurer FM has announced the allocation of approximately a $400 million ‘Resilience Credit’ to support client investment in climate resilience. With this third resilience credit, FM will have allocated more than $1 billio...
Posted: Oct 24, 2024
Boston Consulting Group (BCG), a global management consulting firm, has released new research revealing that after years of investing in artificial intelligence (AI), CEOs are increasingly focused on achieving tangible returns from these technolog...
Posted: Oct 24, 2024
Global insurer QBE has partnered with Eos Rhea Metis (ERM) to enhance its risk engineering services for corporate clients in Taiwan and across Asia. This partnership reflects QBE’s commitment to providing advanced risk management solutions,...
Posted: Oct 24, 2024
Has success in rebuffing COVID claims reduced the scope of income coverage? Since 2020, courts have changed their tune. Why? We all know why: the COVID-19 pandemic. By Joseph S. Harrington, CPCU Attorney Richard P. Lewis of the law firm Reed Smith is...
Posted: Oct 24, 2024
ATLANTA (AP) — Former Georgia Insurance Commissioner John Oxendine, now in federal prison, has surrendered his law license after pleading guilty to conspiracy to commit health care fraud. The Georgia Supreme Court, in a brief decision on Tuesday, acc...
Posted: Oct 24, 2024
CRC Group, a wholesale specialty insurance distributor in North America, has announced the hire of three new professionals: Cory Gibson, to be based in Florida; Clark Miller, based in Texas; and Andrew Perez, who will be based in Colorado. Gibson...
Posted: Oct 24, 2024
JACKSONVILLE, Fla. (AP) — Regina Brinson heard a crack before the metal walkway gave way beneath her feet, plunging her into the water beneath the state-operated ferry dock on Georgia’s Sapelo Island. As strong currents swept her and others who...
Posted: Oct 24, 2024
Commercial insurance rates during the third quarter in the U.S. increased 3%, with casualty rates up 10%. According to Marsh’s Global Insurance Market Index — which noted the first decline in global commercial rates since the third quarter 2017...
Posted: Oct 24, 2024
BRADENTON BEACH, Fla. (AP) — The start of “snowbird” season in Florida is only weeks away, but many Florida Gulf Coast beaches, regularly voted some of the best in the United States, are closed to the public because of the …
Posted: Oct 24, 2024
During a recent interview with Reinsurance News, Stilianos Kalaitzidis, Head of Business Development, Pro Global Germany, discussed how the role of Third Party Administrators (TPAs) has evolved as a maturing model within the German-speaking reinsu...
Posted: Oct 24, 2024
Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh Global commercial insurance ra...
Posted: Oct 24, 2024
Record-Breaking Temperatures Mask a Subtler Threat: Chronic Heat Phoenix has become a...
Posted: Oct 24, 2024
SEC Accuses Four Firms of Downplaying SolarWinds-Related Hacks Four hacked companies will pay a t...
Posted: Oct 24, 2024
Two people died and two others were treated for carbon monoxide poisoning at a Freedom, Maine home previously busted for an illegal marijuana grow operation, officials said Tuesday. Freedom Fire Chief Jim Waterman said his agency was alerted to a ...
Posted: Oct 24, 2024
The Singaporean corporations that owned and operated the cargo ship Dali have agreed to pay $101,980,000 to resolve a civil claim brought by the United States for costs related to the response to the catastrophic collapse of Baltimore’s Francis...
Posted: Oct 24, 2024
Reinsurance Group of America (RGA) and Tongyang Life Insurance Company have agreed to increase coverage of an existing 200 billion Korean Won (KRW) coinsurance contract, originally executed in June 2024. Under the new arrangement, coverage is expa...
Posted: Oct 24, 2024
A former employee of a propane supplier has been charged in the death of a volunteer firefighter who died while responding to a house explosion in Sterling, Virginia in February, officials said this week. Roger Bentley was indicted Monday on …
Posted: Oct 24, 2024
US primary holding company Donegal Group has announced its financial results for the third quarter of 2024, reporting a net income of $16.8 million, compared to net loss of $0.8 million from the prior year quarter. At the same time, Donegal posted...
Posted: Oct 24, 2024
Global credit ratings agency AM Best is maintaining its stable outlook on Canada’s property & casualty (P&C) industry, amid significant challenges from catastrophic events in 2023 and this year. The rating agency noted that the stabl...
Posted: Oct 24, 2024
Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …
Posted: Oct 24, 2024
Miller, an independent specialist insurance and reinsurance broker, has formed a strategic partnership with CyberCube to enhance its ability to provide comprehensive, data-driven cyber exposure advice. Miller will utilise CyberCube’s Broking...
Posted: Oct 24, 2024
Florida-domiciled insurtech, HCI Group, Inc.’s insurance subsidiaries have successfully assumed over 42,000 policies totalling approximately $200 million of in-force premium from Florida’s state-backed insurance company, Citizens Property Insuranc...
Posted: Oct 24, 2024
A dark-fleet oil tanker that was recently involved in a crash in Southeast Asia is now on its way to China. Ceres I, an aging very-large crude carrier that’s suspected of transporting sanctioned oil, is en route to Zhoushan in …
Posted: Oct 24, 2024
Marsh’s Global Insurance Market Index has revealed that commercial insurance rates fell 1% in Q3 of 2024, the first time the index has recorded a quarterly decline since Q3 of 2017. According to Marsh, the insurance broker, risk advisor and...
Posted: Oct 24, 2024
Goosehead Insurance, the independent personal lines insurance agency, has released its financial results for the third quarter of 2024, which includes a $12.6 million net income, a notable improvement from the prior year’s $11.3 million. At...
Posted: Oct 24, 2024
Lloyd’s of London, the specialist insurance and reinsurance marketplace, in collaboration with the United Nations Capital Development Fund (UNCDF), has launched a new disaster resilience vehicle that will provide crucial disaster risk financ...
Posted: Oct 24, 2024
American Coastal Insurance Corporation (ACIC) and its insurance holding company American Coastal Insurance Company (AmCoastal) estimate a gross loss range of $150 to $200 million from Milton. ACIC estimates net current accident quarter catastrophe...
Posted: Oct 24, 2024
A new report from Moody’s has noted that the large losses incurred from Hurricanes Helene and Milton will provide support for the stabilisation of property catastrophe reinsurance pricing going into the January 2025 renewals. “Earlier...
Posted: Oct 24, 2024
Posted: Oct 24, 2024
Posted: Oct 24, 2024
Hymans Robertson has further strengthens its risk transfer team with the addition of Mahad Farooqui, an experienced hire who brings a wealth of experience from his time as a consultant at Aon and previously Mercer. Farooqui’s move further bolsters...
Posted: Oct 24, 2024
Brazilian authorities will sign on Friday a long-awaited reparation deal with miners Vale, BHP and Samarco over the 2015 Mariana dam collapse, the country’s presidential office said on Wednesday. The agreement will be signed in a ceremony atten...
Posted: Oct 24, 2024
Oliver Wyman Actuarial, a specialist business within the Oliver Wyman Group, has strengthened its property and casualty (P&C) capabilities in Europe by establishing a London-based presence. To lead this expansion, Matthew Facey has joined the...
Posted: Oct 24, 2024
WTW has launched a new Structured Auto Buffer London Excess (StABLE) facility to transform fleet risk management by providing a risk financing solution through ‘Swing Plan’ structures. “This new offering is an innovative dedicated structured Auto...
Posted: Oct 24, 2024
Ryan Specialty, an international specialty insurance firm, has announced key leadership appointments within its international underwriting segment, Ryan Specialty Underwriting Managers International (RSUMI). Ben Purkiss has joined as Head of Busin...
Posted: Oct 24, 2024
Mission Underwriters, which builds MGAs around experienced underwriters, has launched Carrow Insurance (Carrow), set to focus on Warranty, Accident & Health, and Income Protection products in the UK and Europe Under the leadership of Ronan Con...
Posted: Oct 24, 2024
The Future of Long-Term Care Insurance Life & Health ClareCarroll1
Posted: Oct 24, 2024
The U.S. Justice Department on Monday proposed new rules to protect federal government data or Americans’ bulk personal data from getting into the hands of countries like China, Iran and Russia by placing new limits on certain business transact...
Posted: Oct 24, 2024
The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home Trends Report found that all-pe...
Posted: Oct 24, 2024
More loss and claims estimates are trickling in from carriers after Hurricane Milton caused widespread wind and flood damage in Florida this month. Tampa-based Heritage Insurance Holdings said in a preliminary statement that about two weeks after Mil...
Posted: Oct 24, 2024
McDonald’s Corp. is trying to contain the fallout from a severe E. coli outbreak that appears to be linked to the slivered onions in its popular Quarter Pounder sandwiches. The US Centers for Disease Control and Prevention on Tuesday announced...
Posted: Oct 24, 2024