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Another Satellite Breakup Adds to Rising Problem of Space Junk A large...
Posted: Oct 22, 2024
Insurance Business Magazine - US
Posted: Oct 22, 2024
ESG’s Appeal Fades in Emerging Markets as Profit Seeking Eclipses Virtue Sustainable inv...
Posted: Oct 22, 2024
According to AM Best, US residual property insurance markets have seen a far greater influx of personal lines business that far exceeds its commercial lines counterpart, with much of the new business written in states worst affected by the growing...
Posted: Oct 22, 2024
Artemis, our insurance-linked securities (ILS) focused sister publication, has partnered with Artex Capital Solutions, the specialist unit of Artex Risk Solutions that creates and manages ILS and related structures, to host a live webinar on the u...
Posted: Oct 22, 2024
The US Supreme Court declined to hear an appeal that sought to give the president control over agencies that have long operated independently, potentially including the Federal Trade Commission and Securities and Exchange Commission. The appeal, pres...
Posted: Oct 22, 2024
Price pressures have eased substantially over the past two years, but a disconnect remains between what US inflation data show and what millions of Americans experience with their finances. That’s in part because price levels are still higher t...
Posted: Oct 22, 2024
Global insurance and reinsurance broker Aon has promoted Adam Neverton as Global Head of strategic broking for professions, effective immediately. In his new role, Neverton will be based in London, with a dual reporting line to John Brosnan, Head...
Posted: Oct 22, 2024
Munich Re has reported a preliminary Q3 2024 net result of around €900 million, despite the impact of higher-than-average major-loss expenditure from natural catastrophes in property-casualty reinsurance. Hurricane Helene was the reinsurer’s...
Posted: Oct 22, 2024
One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill. The answer is that while some are still c...
Posted: Oct 22, 2024
Specialty lines insurance group Bowhead Specialty does not expect material direct losses from the recent hurricanes in the third quarter of 2024, as the firm does not write any property risks, the company recently said in its preliminary third qua...
Posted: Oct 22, 2024
The US is paying close attention to the “dark fleet” of tankers carrying restricted oil and doing ship-to-ship transfers in Southeast Asian waters, the State Department’s top energy official said. Countries in the region need to con...
Posted: Oct 22, 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Nikunj Mahida as Head of Third Party Claims, UK & MENA with immediate effect. In his new role, Mahida will lead the London claim team for LSM’s Financial an...
Posted: Oct 22, 2024
Allianz SE is in talks to scrap two Indian joint ventures with Bajaj Finserv Ltd., in a dispute over the direction of the partnership, according to people familiar with the matter. Allianz plans to exit Bajaj Allianz Life Insurance Co. …
Posted: Oct 22, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has introduced a new cyber insurance policy that extends coverage to help businesses manage risks associated with developing their own Generative AI (...
Posted: Oct 22, 2024
This post is part of a series sponsored by AgentSync. Historically, carriers have been inclined to treat compliance as a series of necessary checklist items to perform. But by shifting your mindset to see compliance as a function of superior …
Posted: Oct 22, 2024
W.R. Berkley Corporation has reported a record Q3 net profit of $365.6 million amid continued strong underwriting margins and increased investment income. The firm’s Q3 2024 return on equity and operating return on equity were 19.6% and 20.0...
Posted: Oct 22, 2024
This post is part of a series sponsored by IAT Insurance Group. In this episode, VP of Aviation Underwriting Rob Lombardo discusses marketplace trends in the Aviation industry following the Aviation Insurance Association Annual Conference. Rob also c...
Posted: Oct 22, 2024
Specialty insurer RLI Corp. has reported an improved underwriting income of $40.7 million for Q3 2024 with a combined ratio of 89.6%, compared to $4.2 million and a 98.7% combined ratio in Q3 2023. The year-on-year improvement in underwriting come...
Posted: Oct 22, 2024
Japanese watchmaker Casio Computer said on Tuesday it will delay the release of its second-quarter earnings due to the impact of a ransomware attack on its accounting process, to mid-November from Nov. 6. Casio, known for its “G-Shock” se...
Posted: Oct 22, 2024
Global reinsurance broker Gallagher Re has appointed Lara Mowery as Chief Commercial Officer, where she will reportedly oversee the firm’s strategic direction and enhance the delivery of product and practice group capabilities. Mowery is an...
Posted: Oct 22, 2024
A large communications satellite has broken up in orbit, affecting users in Europe, Central Africa, the Middle East, Asia and Australia, and adding to the growing swarm of space junk clouding our planet’s neighborhood. The Intelsat 33e satellit...
Posted: Oct 22, 2024
Movo Partnership, part of the AUB group and an Appointed Representative (AR) network for brokers, has launched ‘Movo Accelerator,’ a platform designed to help aspiring entrepreneurs start their own broking businesses. Movo Accelerator...
Posted: Oct 22, 2024
Kroll, an independent provider of global risk and financial advisory services, announced that Katherine Keefe will join as Managing Director and Global Cyber Insurance Industry Lead, overseeing the firm’s worldwide cyber insurance capabiliti...
Posted: Oct 22, 2024
Kroll, an independent provider of global risk and financial advisory services, announced that Katherine Keefe will join as Managing Director and Global Cyber Insurance Industry Lead, overseeing the firm’s worldwide cyber insurance capabiliti...
Posted: Oct 22, 2024
Moody’s Ratings has downgraded Saga Plc’s corporate family rating (CFR) and backed senior unsecured debt ratings to B3 from B2 and the probability of default rating to B3-PD from B2-PD. The rating agency has also changed the company’s outloo...
Posted: Oct 22, 2024
A new report by Conning, a provider of investment management and insurance research, titled “Climate Risk: An Imminent Threat to Business,” highlights the growing importance of assessing and managing both physical and transitional clim...
Posted: Oct 22, 2024
Posted: Oct 22, 2024
Allianz Trade in Asia Pacific has named Harry Edwards as ASEAN Commercial Director effective October 21st, 2024, based in Singapore. He replaces Céline Peredy, who is now Strategic Account Director for Allianz Trade for Multinationals. In his new...
Posted: Oct 22, 2024
The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies. Investment ad...
Posted: Oct 22, 2024
A New Approach to Planning Parental Leave Talent Gap ClareCarroll1
Posted: Oct 22, 2024
5 Tips for Client Acquisition in a Volatile Market Agent & Broker ClareCarroll1
Posted: Oct 22, 2024
State-sponsored residual property markets have seen in influx of risks come in since 2018, with some states growing by more than 200%. According to insurance industry ratings firm AM Best, the policy counts of personal and commercial property Fair Ac...
Posted: Oct 22, 2024
Third quarter 2024 net income at W.R. Berkley Corp. increased to about $365.6 million compared to $333.6 million the same period the prior year on underwriting and investments. Net income was a record for the third quarter, the company said. …
Posted: Oct 22, 2024
Weeks after a chemical warehouse fire in Rockdale County, Georgia, released plumes of toxic smoke, nearby residents can now leave their homes at night after officials lifted a shelter in place order. For the lab’s owner and investors, the troub...
Posted: Oct 22, 2024
A federal appeals court has underscored the high bar that expert witnesses must meet before a court can connect the dots between exposure and illness, a ruling that could have an impact on insurance claims and toxic tort litigation. In …
Posted: Oct 22, 2024
Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had reported more than 221,582 ̷...
Posted: Oct 22, 2024
Starr Insurance reported that South Korea’s Financial Services Commission has granted Starr International Insurance (Singapore) Pte. Ltd., Korea branch, a license to operate in Seoul and begin selling commercial property/casualty insurance thro...
Posted: Oct 22, 2024
Hilcorp Energy Co., the privately held oil producer run by billionaire Jeff Hildebrand, will pay a $9.4 million civil penalty for failing to reduce emissions of methane and volatile gases in New Mexico. It’s the first settlement to address viol...
Posted: Oct 22, 2024
Turbocharging the Modern Insurance Agency Agent & Broker ClareCarroll1
Posted: Oct 22, 2024
INSHUR, a global embedded insurance provider, has raised $19 million in its latest funding round to continue to strengthen market position across the US and Europe, bringing total funding to $78.5 million since 2019. The round was led by Viola Gro...
Posted: Oct 22, 2024
Nearly $75 million in federal grant funds over the next five years will be aimed at helping Alaska Native communities as they grapple with the impacts of climate change. The Alaska Native Tribal Health Consortium is receiving the grant as …
Posted: Oct 22, 2024
A New York town’s highway superintendent is not protected from liability for a collision with another vehicle because he was not actually engaged in work on a highway at the time of the accident, New York’s highest court recently ruled, &...
Posted: Oct 22, 2024
California’s 2025 minimum and maximum temporary total disability rates will increase on Jan. 1, 2025, the Division of Workers’ Compensation announced. The minimum TTD rate will increase from $242.86 to $252.03, and the maximum TTD rate wi...
Posted: Oct 22, 2024
The Vessel, a towering, honeycomb-like sculpture in Manhattan that was popular with tourists before a series of suicides forced its closure in 2021, will reopen Monday with new safety features. The 150-foot (46-meter) structure opened in 2019 as the...
Posted: Oct 22, 2024
As Cybercrime Advances. Cybersecurity Must Keep Up. Cyber ClareCarroll1
Posted: Oct 21, 2024