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Specialty insurer Beazley announced the launch of a cyber consortium that provides comprehensive cover for large corporates with a turnover in excess of $1 billion, infusing $100 million of new capacity into the cyber market. Called Beazley Quantum,...
Posted: Oct 08, 2024
A new report from insurance broker Aon reveals that the prospective return on equity (ROE) for diversified homeowners insurance carriers decreased by 100 basis points to 5.0% from last year’s ROE, despite carriers receiving significant rate inc...
Posted: Oct 08, 2024
AdvantageGo, a global commercial re/insurance software provider, has created an Ecosystem Alliance with Insurants, a document processing solution for global insurance companies. Leveraging the capabilities of artificial intelligence (AI), this par...
Posted: Oct 08, 2024
Arch Insurance International, a division of Arch Capital Group, has promoted Peter Brooks to Global Head of Fine Art & Specie, effective immediately. In this new position, Brooks will oversee the Fine Art & Specie insurance portfolio withi...
Posted: Oct 08, 2024
As the intensity and severity of natural catastrophes continues to increase worldwide, there is more that the re/insurance sector needs to do to show its value in the climate fight, and according to Christoph Lamby, CEO of R+V Re, the German reins...
Posted: Oct 08, 2024
Let’s be clear: The RFP process isn’t just about finding a vendor; it's about discovering a partner who will contribute to your success and growth over the long term.
Posted: Oct 08, 2024
Hurricane Milton Barrels Toward Florida With 165 MPH Winds Milton, the Atlantic's strongest h...
Posted: Oct 08, 2024
New Jersey-based American Water, which runs water treatment, transmission, wells and other water facilities for 14 states, has reported a cyber incident. The company has deactivated its customer portal, MyWater, as a precaution, but does not believe...
Posted: Oct 08, 2024
The absence of larger losses in 2023 and 2024 is expected to lead to more competitive pricing in property and business interruption, while lower-level attritional losses will remain a constant, according to WTW’s Power Market Review. In the intern...
Posted: Oct 08, 2024
Insurance and reinsurance broking group Gallagher has announced three senior appointments in its upstream energy division to support its expanding client base. Darren Jones has been named Executive Partner, bringing over 20 years of experience in...
Posted: Oct 08, 2024
Insurance Business Magazine - US
Posted: Oct 08, 2024
The leader of a regional organized theft crew, who orchestrated the thefts of catalytic converters from nearly 500 vehicles across the region, multiple jewelry store robberies and the stealing of banks’ automated teller machines has been senten...
Posted: Oct 08, 2024
According to research from WTW, large deals have been at the forefront of M&A activity in 2024, reflecting growing confidence among dealmakers despite geopolitical and macroeconomic headwinds. WTW’s research revealed that the volume of d...
Posted: Oct 08, 2024
Pro-Palestinian activists targeted the British offices of German financial services firm Allianz on Tuesday, daubing the outside with red paint in protest over the company’s links to Israeli defense firm Elbit Systems. Palestine Action claimed...
Posted: Oct 08, 2024
NARDAC, an energy and infrastructure insurance broker and Managing General Agent (MGA), has reported that insurance premiums for offshore renewable energy and infrastructure projects are expected to remain low for the next two to three years, exte...
Posted: Oct 08, 2024
Large insurance industry losses from major hurricane Milton’s eventual impacts in Florida could potentially lead to an extended hard market for property cat reinsurance, according to Jefferies. Analysts explained that should the hard market...
Posted: Oct 08, 2024
Specialty insurer Beazley has expanded its cyber capabilities with the addition of ‘Beazley Quantum’, a new cyber consortium that provides comprehensive cover for large corporates with up to $100 million limit. According to the announcement, the c...
Posted: Oct 08, 2024
A new report from BMO Capital Markets discussing Hurricane Milton’s potential impact has noted that a direct hit on Tampa at a Category 3-5 level could result in insured losses exceeding $75 billion. For those unaware, Milton is currently a...
Posted: Oct 08, 2024
Global credit rating agency AM Best has confirmed that it has revised the outlook to stable from negative for Indonesia’s non-life insurance segment, owing to a number of factors that include solid growth prospects, the potential for compuls...
Posted: Oct 08, 2024
This post is part of a series sponsored by IAT Insurance Group. In this episode, EVP of Excess and Surplus Coy Rudd discusses marketplace conditions, IAT Insurance Group’s appetite and growth, and recent successes within the industry. Hosted by...
Posted: Oct 08, 2024
This post is part of a series sponsored by AgentSync. Navigating the request for proposal (RFP) process can feel like steering through a labyrinth. The stakes are high, and the complexities are numerous. Your role demands not only ensuring that ̷...
Posted: Oct 08, 2024
Pen Underwriting’s marine business specialist, Trafalgar Marine Trades (TMT), extends its broker service capabilities with the appointment of Emma Colbourn as UK Senior Marine Trades Underwriter, effective October 8. Colbourn brings to her new rol...
Posted: Oct 08, 2024
Posted: Oct 08, 2024
Global insurance and reinsurance broker Aon has revealed that the prospective return on equity (RoE) for US diversified homeowners insurance carriers decreased by 100 basis points to 5% from last year, despite the significant rate increases achiev...
Posted: Oct 08, 2024
RLI Corp., the specialty insurer, has estimated pre-tax net catastrophe losses, net of reinsurance recoverables, from hurricanes Beryl and Helene of between $35 million and $40 million, which will be reflected in the carrier’s third quarter...
Posted: Oct 08, 2024
Rwanda is battling its first-ever outbreak of the deadly Marburg virus, with 36 cases reported so far and 11 deaths. The World Health Organization said this week the risk of the outbreak is very high in Rwanda, high across the …
Posted: Oct 08, 2024
Global insurance broker WTW has announced the appointment of Izabella McGuire as Senior Client Advocate for the Real Estate, Hospitality, and Leisure (REHL) division within Corporate Risk & Broking, North America (CRB NA). In her new role, bas...
Posted: Oct 08, 2024
Where Are The Private Insurers? Analyses Highlight U.S. Flood Gap Two...
Posted: Oct 08, 2024
The Latest Hurricane Helene Insured Loss Estimates: Totals Move Higher Ea...
Posted: Oct 08, 2024
The impacts of hurricane Helene across Florida, Georgia, the Carolinas, and parts of the Mid-Atlantic are expected to drive insurance industry losses of between $8 billion and $14 billion, while losses to the National Flood Insurance Program (NFIP...
Posted: Oct 08, 2024
Australia is likely to see an above average number of severe tropical cyclones this season, according to the nation’s weather agency, which have the potential to damage crops and flood mining operations. The likelihood of more strong storms is...
Posted: Oct 08, 2024
Ledgebrook, an insurtech company, is pleased to announce the successful completion of a $17 million Series B funding round. This strategic raise brings two distinguished Family Offices onto Ledgebrook’s cap table: Duquesne (which led the round) an...
Posted: Oct 08, 2024
British finance minister Rachel Reeves needs to strike a positive tone at her first budget on Oct. 30 in order to give businesses the confidence to invest, the Confederation of British Industry said on Tuesday. After winning a large parliament …...
Posted: Oct 08, 2024
Russia targeted a ship loaded with Ukrainian grain with a ballistic missile Monday — the second in two days — killing one person and injuring five, according to the Infrastructure Ministry in Kyiv. The Optima, which sails under the flag …
Posted: Oct 08, 2024
There is no federal law that requires the disclosure of litigation funding agreements in court cases, but some disturbing insight has been found in individual jurisdictions that have rules to increase transparency, according a panel on the topic at t...
Posted: Oct 08, 2024
The head of one of the largest private flood insurance writers this week questioned an A.M. Best report that said private flood companies are failing to make significant inroads in America’s troubled flood market. “From 2020 through 2022,...
Posted: Oct 08, 2024
The head of one of the largest private flood insurance writers this week questioned an AM Best report that said private flood companies are failing to make significant inroads in America’s troubled flood market. “From 2020 through 2022, p...
Posted: Oct 08, 2024
The SA Special Risk Insurance Association (Sasria) is exploring the expansion of its coverage options to include climate, severe weather, as well as cyber risks. Sasria is a state-owned non-life insurer that provides special risk cover – inc...
Posted: Oct 08, 2024
U.S. property and casualty insurance stocks tanked on Monday after Hurricane Milton intensified into a category 4 storm on its path towards Florida’s western coast, marking yet another costly disaster for the industry to cover this year. Insure...
Posted: Oct 08, 2024
The U.S. Supreme Court agreed on Friday to hear a bid by U.S. gun maker Smith & Wesson SWBI.O and firearms wholesaler Interstate Arms to throw out Mexico’s lawsuit accusing them of aiding the illegal trafficking of firearms to Mexican ̷...
Posted: Oct 08, 2024
Migraine drugs represent a small percentage of prescriptions dispensed to injured workers in California, but they make up a larger share of workers’ compensation drug payments, a new report shows. Fewer than 1% of all prescriptions dispensed to...
Posted: Oct 08, 2024
A growing number of utilities are resorting to an extreme measure to prevent their equipment from sparking catastrophic wildfires: turning off the power. Electric companies serving about 24 million homes and businesses across the fire-prone US West n...
Posted: Oct 08, 2024
Inszone Insurance Services acquired Schmoekel Insurance Agency Inc. in Sacramento, California. Founded in 1948 by Max Schmoekel, Schmoekel Insurance Agency was initially known as a non-standard insurance agency, specializing in finding coverage for h...
Posted: Oct 08, 2024
This post is part of a series sponsored by Selectsys. In today’s competitive insurance market, operational efficiency and accuracy are essential for success. Managing General Agents (MGAs), wholesalers, and carriers need to streamline their pro...
Posted: Oct 07, 2024
Nation’s Flood Insurance Program Is Making More Repeat Payouts When Hurricane Helene barreled ashore last week...
Posted: Oct 07, 2024
An Interview With Jordan Clark Resilience & Sustainability ClareCarroll1
Posted: Oct 07, 2024
Insurance Information Institute
New York Press Office Loretta Worters 917-208-8842 [email protected] NEW YORK, Oct. 7, 2024 – Financial security and access to resources can make all the difference to domestic violence victims when deciding to leave an abusive relationship. Insur...
Posted: Oct 07, 2024
Yialamas brings over 25 years of experience in executive and financial roles, most recently as Chief Financial Officer at PayJoy, a lender to the underserved in emerging markets.
Posted: Oct 07, 2024