All Posts
Executives on the Move at Aon Reinsurance Solutions and R...
Posted: Oct 21, 2024
Paul Choi was named CEO of Starr’s Korea branch in May 2024.
Posted: Oct 21, 2024
Carrow will open for business in the coming weeks.
Posted: Oct 21, 2024
SAVANNAH, Ga. (AP) — Authorities said at least seven people were killed Saturday when part of a ferry dock collapsed on Georgia’s Sapelo Island, where crowds had gathered for a fall celebration by the island’s tiny Gullah-Geechee communit...
Posted: Oct 21, 2024
The European reinsurance market remains dynamic, with demand for property reinsurance protection continuing to expand, according to Munich Re. At this year’s Baden-Baden event, the global reinsurer revealed plans to deploy more capital in it...
Posted: Oct 21, 2024
Meta Platforms must face a lawsuit by Massachusetts alleging the social media company purposely deployed features on its Instagram platform to addict young users and deceived the public about the dangers it posed to the mental health of teenagers, a...
Posted: Oct 21, 2024
The Lloyd’s Market Association (LMA) has announced the appointment of John Levett as Head of Regulatory Affairs, effective immediately, where he will report to Arabella Ramage, the Legal Director at the LMA. Levett became part of the LMA in...
Posted: Oct 21, 2024
Genillard & Co. GmbH, a well-established reinsurance broker operating for over 20 years, has been acquired by HBC Group. This partnership aligns with HBC Group’s strategic plan to strengthen its market presence and expertise in the highly spec...
Posted: Oct 21, 2024
South Korea’s Financial Services Commission has granted Starr Insurance’s Starr International Insurance (Singapore) Pte. Ltd., Korean branch, a licence to operate in Seoul. This development enables Starr to initiate the sale of commercial property...
Posted: Oct 21, 2024
A hearing in a lawsuit against BHP over Brazil’s worst environmental disaster, the 2015 collapse of the Mariana dam, will begin at London’s High Court on Monday, with claimants seeking up to 36 billion pounds ($47 billion) in damages. Mor...
Posted: Oct 21, 2024
A hearing in a lawsuit against BHP over Brazil’s worst environmental disaster, the 2015 collapse of the Mariana dam, will begin at London’s High Court on Monday, with claimants seeking up to 36 billion pounds ($47 billion) in damages. Mor...
Posted: Oct 21, 2024
Miners Vale SA and BHP Group are a step closer to finalizing a deal with Brazilian authorities to provide a multibillion-dollar settlement for one of the country’s worst mining disasters. Ongoing negotiations that also involve Vale-BHP’s...
Posted: Oct 21, 2024
Miners Vale, BHP and Samarco are discussing a near $30 billion compensation deal with Brazilian authorities related to the 2015 Mariana dam collapse, they said on Friday, with an agreement set to be signed on Oct. 25, sources said. The …
Posted: Oct 21, 2024
Ping An Insurance (Group) Co. of China Ltd. reported on Monday a 36.1% rise in net profit in the first nine months of the year, driven by growing investment returns and new policies sold as the economy recovers. The insurance …
Posted: Oct 21, 2024
Travelers Europe, a division of The Travelers Companies Inc., has appointed Mark Clifford as the Active Underwriter for Syndicate 5000 at Lloyd’s and Vice President of Business Insurance (BI) Specialty. Clifford will be part of the Europe Operatin...
Posted: Oct 21, 2024
Miller, an independent specialist in re/insurance broking, has announced the appointment of Satoshi Watanabe to its Japanese subsidiary, Lead Insurance Services Limited (Lead), as part of its ongoing efforts to expand and diversify in Japan. Satos...
Posted: Oct 21, 2024
According to a recent analysis by EY, UK home insurers remained in the red in 2023, only marginally improving on record losses from 2022, posting a loss-making net combined ratio (NCR) of 118% in 2023, a slight improvement from 2022’s 122%....
Posted: Oct 21, 2024
At the latest Baden-Baden Reinsurance Symposium hosted by Guy Carpenter, the reinsurance broking arm of Marsh McLennan, Maria Rapin, Chief Executive Officer (CEO) of Nephila Climate, has highlighted the increasing role of alternative capital in th...
Posted: Oct 21, 2024
This post is part of a series sponsored by Old Republic Surety. “We’ve targeted tight turnaround times from submission to approval using Old Republic Surety’s (ORS) FastBond process — the faster, the better,” says Todd Taylor,...
Posted: Oct 21, 2024
Specialty insurer Beazley has launched a new combined consortium, FLEX, offering comprehensive civil liability, crime/fraud, and cyber coverage for financial institutions. The consortium provides a streamlined solution, addressing the full range o...
Posted: Oct 21, 2024
Floods engulfed parts of north-central Italy from overflowing rivers following days of heavy rain, prompting the state-led road operator to close some expressways. Severe flooding was seen in the region of Emilia Romagna on Sunday. One person was rep...
Posted: Oct 21, 2024
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for German business, has indicated that further price increases and improved terms and conditions are likely at the January 1, 2025, property and casualty reinsurance renewals, follow...
Posted: Oct 21, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced two key appointments within its Specialty Lines in Europe and APAC. Mathieu Daubin has been appointed Chief Underwriting Officer, Marine...
Posted: Oct 21, 2024
In the lead up to this year’s Baden-Baden Reinsurance meeting, we spoke to Dirk Herrenpoth, Chief Underwriting Officer of Swiss reinsurer and Munich Re subsidiary, NewRe, about what his general expectations are heading into the key January r...
Posted: Oct 21, 2024
Moody’s Ratings has upgraded Hub International Limited’s corporate family rating to B2 from B3, and its probability of default rating to B2-PD from B3-PD. According to Moody’s this decision was based on Hub’s steady credit metrics and our expectat...
Posted: Oct 21, 2024
Data and telematics insurtech Nirvana Insurance has reached an agreement with MS Transverse Insurance Company, a subsidiary of MS&AD Insurance Group Holdings, to boost its capacity, accelerate its growth trajectory and enable the delivery of b...
Posted: Oct 21, 2024
T. Rowe Price, a global investment management company, has appointed Ben Riley, CFA®, to the newly established position of Head of Insurance, effective January 1, 2025. In this role, Riley will lead a team focused on serving insurance clients in N...
Posted: Oct 21, 2024
Data storage provider Western Digital must pay $315.7 million in damages for violating a patent owner’s rights in data security technology, a jury in California federal court said on Friday. The jury determined that several Western Digital self...
Posted: Oct 21, 2024
Data storage provider Western Digital must pay $315.7 million in damages for violating a patent owner’s rights in data security technology, a jury in California federal court said on Friday. The jury determined that several Western Digital self...
Posted: Oct 21, 2024
Sustainable investments in emerging markets are facing a reckoning as environmental, social and governance strategies crumble under the weight of ongoing capital outflows and the appeal of higher-yielding energy bonds. ESG investments in developing n...
Posted: Oct 21, 2024
Walmart said Friday it has reached a proposed settlement pact related to three lawsuits filed by shareholders on behalf of the company over the handling of prescription opioids. According to the terms of the settlement that were disclosed in a …...
Posted: Oct 21, 2024
We are disappointed but unsurprised that an insurance industry lobbyist would mischaracterize an emergency order meant to stop insurance abuses as a “rule on public adjusters.” As Insurance Journal itself made clear in an Oct.10 story tha...
Posted: Oct 21, 2024
The issuance of Florida’s Emergency Rule 69BER24-4, in response to hurricanes like Milton, represents a significant shift in regulating public adjusters and their activities. While some plaintiff attorneys and some adjusters initially celebrate...
Posted: Oct 21, 2024
As if it were yesterday, I vividly remember going to my first catastrophic fire loss with my dad at the young age of nine. It was a house fire in Sarasota involving a resident falling asleep with a lit cigarette. …
Posted: Oct 21, 2024
The Archdiocese of Los Angeles has agreed to pay $880 million to victims of clergy sexual abuse dating back decades, in what an attorney said was the largest single child sex abuse settlement with a Catholic archdiocese, it was announced …
Posted: Oct 21, 2024
A subway train that derailed near Boston earlier this month had entered a 10-mph zone traveling at 36 mph, according to an initial report from the National Transportation Safety Board released Wednesday. The Green Line train that left Lechmere Statio...
Posted: Oct 21, 2024
The US home insurance industry has experienced an upward trend in loss cost across all perils combined over the past seven years, resulting in catastrophic claims which in turn contribute to rising premiums, LexisNexis stated in a recent report. A...
Posted: Oct 21, 2024
Workers’ compensation medical payments per claim in California were 10% below the median state of a 17-state study sample for claims with experience through March 2023, a study from the Workers Compensation Research Institute shows. The WCRI st...
Posted: Oct 21, 2024
A federal workplace safety investigation has found the operator of three Massachusetts waterproofing contracting companies could have prevented an employee from suffering fatal injuries in February 2024 when part of a foundation broke and fell on the...
Posted: Oct 21, 2024
This post is part of a series sponsored by Selectsys. The insurance industry is undergoing a digital transformation, with companies increasingly adopting cloud-based solutions to enhance their operations. Cloud technology offers unparalleled flexibil...
Posted: Oct 20, 2024
As social inflation continues to exert pressure on the insurance industry, this is not only a financial issue, but one with far-reaching impacts on insurers, beneficiaries and society at large. Rising litigation costs, evolving societal expectations,...
Posted: Oct 20, 2024
The insurance industry, traditionally rooted in face-to-face interactions and extensive documentation, is undergoing a significant transformation with the rise of video marketing. As digital communication becomes the norm, retail insurance agents, wh...
Posted: Oct 20, 2024