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The latest people news in the industry today. The post Aon Names Pete Romano as EVP and Real Estate Industry Pra...
Posted: Oct 18, 2024
The latest people news in the industry today. The post Ken Scaggs Takes Over as Pittsburgh Market Leader at Aon appeared first on
Posted: Oct 18, 2024
Two Sudanese nationals were indicted by US prosecutors for their alleged participation in a group known as “Anonymous Sudan” that conducted cyberattacks against US government agencies, airports and a major hospital in Los Angeles. The gro...
Posted: Oct 18, 2024
Oakbridge Insurance Agency is expanding again, this time with the addition of Tuscaloosa, Alabama-based Hull & Associates, an agency that has specialized in finding coverage for student housing in and around the home of the University of Alabama....
Posted: Oct 18, 2024
People who voted to settle their baby power-related health claims against Johnson & Johnson should have their ballots thrown out because the consumer products giant rigged the tally, according to lawyers for holdout claimants. The company organiz...
Posted: Oct 18, 2024
Andrew Hall, Chief Executive Officer of The Insurance Council of Australia (ICA), disclosed that four unprecedented flood events across 2022 saw more than 305,000 claims and $7.7 billion in incurred losses, including $6.3 billion from just one eve...
Posted: Oct 18, 2024
MENDENHALL, Miss. (AP) — Three people were killed and four were seriously injured Wednesday when a bridge in Mississippi that was closed nearly a month ago collapsed while a work crew was prepping it for demolition, authorities said. The bridge ̷...
Posted: Oct 18, 2024
Howden Re, the reinsurance arm of Howden, has expanded its capabilities in the DACH region with four senior appointments in Germany. Lars Nelson has been appointed Managing Director, Head of German branch at Howden Re, effective 1 January, 2025. N...
Posted: Oct 18, 2024
Three of the world’s biggest tobacco companies are near a possible deal to resolve longstanding claims in Canada that they held back information about the health risks of cigarettes. Under the proposal from a court-appointed mediator, Canadian...
Posted: Oct 18, 2024
Insuresoft is integrating Inspire Innovations’ AI-based process orchestration platform, IPAS, with Insuresoft’s Diamond core system for claims, new business, and underwriting administration.
Posted: Oct 18, 2024
Everen Specialty Limited, a property and casualty re/insurer, has announced Jerry Rivers, Senior Vice President, and Chief Operating Officer, is to retire on March 31, 2025. Rivers expressed his gratitude, stating: “I want to thank the Board for t...
Posted: Oct 18, 2024
BlackFin Capital Partners, a specialist in Europe’s financial services sector, is excited to announce the successful closing of the BlackFin Financial Services Fund IV at a total of €1.8 billion. This new fund exceeds its initial target of €1.5 bi...
Posted: Oct 18, 2024
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Posted: Oct 18, 2024
The US opened a federal investigation into whether Tesla Inc.’s partial-automation system marketed as Full Self-Driving is defective after a series of crashes, one of which resulted in a fatality. The National Highway Traffic Safety Administrat...
Posted: Oct 18, 2024
Four men have been charged with defrauding New York auto insurers by allegedly submitting more than $10 million in fraudulent claims for psychological services —and then laundering the proceeds of that fraud through a network of illicit check cashers...
Posted: Oct 18, 2024
Pool-ul de Asigurare împotriva Dezastrelor Naturale (PAID), an insurance pool against natural disasters established in Romania in 2009, has chosen Moody’s to help the company model and manage earthquake risk in Romania. PAID is an insurance organi...
Posted: Oct 18, 2024
Japanese insurer Tokio Marine has paused the sale of its $1 billion Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring products distribution agreement, four sources with knowledge of the matter s...
Posted: Oct 18, 2024
Between $75 and $175 million of Hurricane Milton-related pre-tax losses, net of reinsurance, are estimated to impact Travelers’ future natural catastrophe losses, the US insurer revealed following the announcement of its financial results fo...
Posted: Oct 18, 2024
This edition of International People Moves details appointments at AXA XL Reinsurance and Specialist Risk Group. A summary of these new hires follows here. AXA XL Re Taps Swiss Re’s Schiffer as CEO, North America, Reinsurance AXA XL Reinsurance...
Posted: Oct 18, 2024
According to J.P. Morgan analysts, hurricane Milton is unlikely to change the dynamics of the reinsurance market heading into 2025, based on current anticipated loss levels. Hurricane Milton approached Florida and made landfall near Siesta Key on...
Posted: Oct 18, 2024
Covering all major flood perils globally with a comprehensive representation of uncertainty and conditioned to the current climate, Fathom’s new Global Flood Cat model gives the industry a “step change” in its ability to manage flood r...
Posted: Oct 18, 2024
The first half of 2024 saw 134 buy-ins completed, with a total value of £15.2 billion, making it the highest number of transactions ever recorded in a six-month period, according to Hymans Robertson, the independent pensions and financial services...
Posted: Oct 18, 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Srikanta Nandy as Chief Platform Officer, based in New York. Nandy is a 25-year insurance veteran with deep expertise in Global Platform Delivery, Enterprise Data M...
Posted: Oct 18, 2024
In collaboration with Guy Carpenter and Liberty Mutual Reinsurance, AIR Parametric has launched Milkshake, a new parametric insurance product designed to safeguard US dairy producers from heat stress on their livestock herds. According to Air Para...
Posted: Oct 18, 2024
A recent report by QBE North America, in collaboration with Zywave, revealed that many businesses are overlooking additional risk management services included in their cyber insurance policies, underscoring the need for greater awareness to enhanc...
Posted: Oct 18, 2024
AXA XL Reinsurance has appointed Swiss Re’s Greg Schiffer as Chief Executive Officer, North America, Reinsurance, effective 11 November 2024. Schiffer is a seasoned executive with extensive expertise in senior-level reinsurance leadership, c...
Posted: Oct 18, 2024
The Government of Ghana has purchased its first sovereign drought insurance policy, marking a significant step toward protecting vulnerable communities and the agricultural sector from drought. Coordinated by the Global Shield Secretariat, this po...
Posted: Oct 18, 2024
Posted: Oct 18, 2024
Posted: Oct 18, 2024
According to initial data analysis by catastrophe risk modeller, CoreLogic, industry-wide insured wind and flood losses from hurricane Milton are estimated at between $17 billion and $28 billion. The total damage from Milton, including losses to u...
Posted: Oct 18, 2024
Coalition, the San Francisco-based cyber managing general agent and cybersecurity firm, has become the first cyber insurance provider in the UK to launch a service dedicated to recovering funds stolen by cyber attackers. The cyber insurer’s new...
Posted: Oct 18, 2024
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance, has announced two key leadership promotions. Lars Messutat has been appointed as the Head of General Property for the DACH region,...
Posted: Oct 18, 2024
Beat Capital Partners, a London-based incubator of underwriting franchises and a subsidiary of Ambac Financial Group, Inc., has launched Fallow Grove Insurance Services in partnership with former CrossCover executive Brett Dupre. The Fallow Grove...
Posted: Oct 18, 2024
Global insurance and reinsurance broker Aon has announced the expansion of Christopher Lovino’s role to U.S. Growth Leader, Global Risk Consulting. Lovino brings nearly three decades of experience at Aon, where he has held various leadership posit...
Posted: Oct 18, 2024
Ambac Financial Group, the insurance holding company, has announced that its shareholders have voted to approve the proposed purchase agreement under which funds managed by Oaktree Capital Management LP will acquire its legacy financial guaranty b...
Posted: Oct 18, 2024
The UK said three government bodies are working together to challenge Russian shadow fleet oil tankers if it perceives they have dubious insurance. An announcement from the country’s Foreign, Commonwealth and Development Office didn’t spe...
Posted: Oct 18, 2024
Insurance industry investments in generative AI are expected to surge by over 300 percent from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business lines. But new research identif...
Posted: Oct 18, 2024
Centuries ago, estuaries around the world were teeming with birds and turbulent with schools of fish, their marshlands and endless tracts of channels melting into the gray-blue horizon. Fast-forward to today, and in estuaries such as New York Harbor,...
Posted: Oct 18, 2024
Centuries ago, estuaries around the world were teeming with birds and turbulent with schools of fish, their marshlands and endless tracts of channels melting into the gray-blue horizon. Fast-forward to today, and in estuaries such as New York Harbor,...
Posted: Oct 18, 2024
McKinsey & Co. is nearing a deal with US prosecutors to pay at least $500 million to settle federal probes into its past work helping opioid makers boost sales, according to people familiar with the matter. A settlement, which could …
Posted: Oct 18, 2024
Survivors of last year’s deadly wildfire that decimated a historic Maui town will receive an additional year of housing assistance from the Federal Emergency Management Agency. Housing has been a major challenge in recovering from the Aug. 8, 2...
Posted: Oct 18, 2024
Two Philadelphia professional sports team have lost their appeals over denied business interruption insurance claims tied to the COVID-19 pandemic. U.S. District Judge Michael Baylson this week dismissed lawsuits by the Philadelphia 76ers basketball...
Posted: Oct 18, 2024
Two Philadelphia professional sports team have lost their appeals over denied business interruption insurance claims tied to the COVID-19 pandemic. U.S. District Judge Michael Baylson this week dismissed lawsuits by the Philadelphia 76ers basketball...
Posted: Oct 18, 2024