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A new report from AM Best has revealed that losses resulting from Hurricane Francine will likely be manageable in aggregate, though will be borne by primary insurers given a shift toward higher reinsurance attachments. Hurricane Francine made land...
Posted: Sep 16, 2024
Global life insurance group Resolution Life has appointed former Swiss Re executive Moses Ojeisekhoba as its new President, and he is also expected to take over from Sir Clive Cowdery as Chief Executive Officer (CEO) of the company in 2026. Ojeise...
Posted: Sep 16, 2024
Flood Re, a UK government-backed initiative that makes flood insurance more affordable, has partnered with the British Insurance Brokers’ Association (BIBA), the trade body for UK insurance brokers. Together, they aim to increase awareness within...
Posted: Sep 16, 2024
Admiral Insurance Group, a Berkley subsidiary, has appointed Ben Rosenthal as Vice President of Excess Casualty, following the establishment of Admiral’s Excess Casualty Department, led by Brian Lineberger, a year ago. Rosenthal’s addi...
Posted: Sep 16, 2024
Walgreens Boots Alliance agreed to pay $106.8 million to settle charges it fraudulently billed the U.S. government for prescriptions that were never dispensed, the Department of Justice said on Friday. The Justice Department said Walgreens violated t...
Posted: Sep 16, 2024
A Black UPS driver won a $237.6 million jury verdict in a case in which he alleged he’d been discriminated against and subject to a hostile work environment before being fired. The verdict, rendered Thursday in the US District Court …
Posted: Sep 16, 2024
23andMe will pay $30 million and provide three years of security monitoring to settle a lawsuit accusing the genetics testing company of failing to protect the privacy of 6.9 million customers whose personal information was exposed in a data breach &...
Posted: Sep 16, 2024
Boar’s Head said Friday it’s closing the Virginia plant tied to a deadly listeria outbreak. The Sarasota, Florida-based company said it will also permanently discontinue production of liverwurst, the product that was linked to the deaths...
Posted: Sep 16, 2024
EverPeak Insurance is launching operations in Arizona. EverPeak specializes in workers’ compensation coverage for small businesses and those in hard-to-place industries. EverPeak workers’ comp insurance is written on Attune, which has mor...
Posted: Sep 16, 2024
The city of Pittsburgh is seeking approval of a half-million-dollar payment to settle lawsuits over the collapse of a bridge into a ravine more than 2 1/2 years ago. Deputy Mayor Jake Pawlak said Friday he had asked the Pittsburgh …
Posted: Sep 16, 2024
A Colorado man was charged with arson after an investigation into a wildfire this summer that destroyed 29 homes and caused more than $30 million in property damage, authorities said. Jason Alexander Hobby, 49, was arrested last week, Larimer County...
Posted: Sep 16, 2024
US insurance brokerage TIH has appointed Jim Odell as General Counsel, based at the firm’s headquarters in Charlotte, effective immediately. Odell brings over three decades of proven financial leadership experience in both general counsel ro...
Posted: Sep 16, 2024
This post is part of a series sponsored by Selectsys. In the fast-paced world of insurance, efficiency, accuracy, and speed are vital to success. For MGAs and wholesaler underwriters, the traditional challenges of navigating multiple carrier websites...
Posted: Sep 15, 2024
The CSX worker who discovered his friend run over by a pair of remote-control locomotives in a rail yard last year sees a simple solution to preventing similar deaths in the future: two-person crews. But that idea won’t be popular …
Posted: Sep 15, 2024
In recent months the dynamic markings for voices asserting the insurance industry is not up to challenges posed by climate change have gone from mezzo-piano to mezzo-forte. Endorsing a proposal by Rep. Adam Schiff (D-Calif.) to create a federal reins...
Posted: Sep 15, 2024
Finding success in the excess and surplus lines sector means building relationships, finding a specialty, putting in the work and getting creative in both hard and soft market cycles, young wholesalers say. “Technical knowledge is important, bu...
Posted: Sep 15, 2024
By Jahna Jacobson Wholesale insurance teams are up for a challenge, and they need to be. Rising rates, shrinking appetites, hurricanes, wildfires and increased demand mean those working in the excess and surplus (E&S) sector are facing a unique s...
Posted: Sep 15, 2024
A study from RAND found that rising litigation rates, trial awards and claim severity are consistent with the expected effects of social inflation. The study, What Is the Evidence for Social Inflation? Trends in Trial Awards and Insurance Claim Payme...
Posted: Sep 15, 2024
By Tom Ruggieri and Mark Smith In a decade defined by disruption, the wholesale insurance market has adapted and evolved to meet the demands of an increasingly complex risk environment. The industry has been remarkable in its ability to pivot, …...
Posted: Sep 15, 2024
I confess that for a guy who has made his living largely on commissions for decades, I don’t like the concept. It’s not that I don’t like getting paid — I do — but I find the commission system in …
Posted: Sep 15, 2024
Looking back at my Insurance Journal columns over the past 5 years, I found that I wrote at least one column a year about water damage claims. So, before this year runs out, I guess it’s time for another, especially …
Posted: Sep 15, 2024
A goal without a plan is just a wish. Successful agency owners strategically plan business operations thinking ahead several years. Yet how many owners consider the end game in those plans? Are you building an agency to sell? If so, …
Posted: Sep 15, 2024
The property/casualty insurance industry and excess and surplus lines brokers in particular are at the world’s beck and call to help navigate what is an increasingly risky environment. The industry continues to respond as social, environmental,...
Posted: Sep 15, 2024
By Allen Laman Continuing worker shortages, the threat of nuclear verdicts in some geographical locations, and the implementation of new technology are all shaping the property/casualty insurance market for senior living facilities. Challenging areas...
Posted: Sep 15, 2024
I don’t expect most insurance agencies to possess formal, in-depth strategies. Many are too small and focused on the next sale or the next renewal. Even many medium sized agencies are focused on the next sale, and provided they make …
Posted: Sep 15, 2024
“The world’s not a less risky place.” “We’re clearly in historical hard market conditions for property and casualty.” “I don’t think we’re going to see anywhere near the same level of flow back in...
Posted: Sep 15, 2024
Los Angeles area vocational school owner, Guillermo Frias, 65, of Paramount, and the school’s accounting manager, Yesid Colon, 54, of Baldwin Park, were arraigned following a California Department of Insurance investigation into allegations the...
Posted: Sep 15, 2024
By William Rabb He’s been called a “do-gooder,” a “troublemaker” and a whistleblower. And he may be the best friend the Florida property insurance industry has. A mechanical engineer based in Edgewater, George Miles has...
Posted: Sep 15, 2024
Assessment includes the quality of management, construction type and scope of operations.
Posted: Sep 15, 2024
September is Life Insurance Awareness Month and provides an opportunity to dispel misconceptions and educate the many Americans who live with a life insurance coverage gap.
Posted: Sep 15, 2024
Sentry, a mutual insurer based in Wisconsin, primarily offers commercial insurance. The General is a direct-to-consumer insurer.
Posted: Sep 15, 2024
Are you tired of chasing one client at a time for modest growth? While organic growth is important, equity growth can be accelerated through effective financial management.
Posted: Sep 15, 2024
Key strategies for supporting tech and life sciences companies.
Posted: Sep 15, 2024
Me-wow! Pet insurance is the fastest-growing property & casualty line.
Posted: Sep 15, 2024
The new funding will significantly boost the insurance pricing and reserving platform’s ability to expand its product portfolio and fuel its growth in key global markets.
Posted: Sep 15, 2024
Indiana’s Todd Jackson has been installed to lead the national association for the 2024-25 term.
Posted: Sep 15, 2024
If data fundamentals are lacking, however, insurance organizations won’t be in a position to cash in, and, if you aren’t the one gaining the competitive advantage, then you are losing ground.
Posted: Sep 15, 2024
This expansion will provide Blink Parametric's flight disruption service to MAWDY’s customers.
Posted: Sep 15, 2024
Insurance taxes in the UK punish those who try to protect themselves from disaster. The post Perspective | How Britain’s Hidden Insurance Tax Punishes Prudent Citizens...
Posted: Sep 14, 2024
Why the P&C Market Needs AI Driven Behavioral Insights From Our Partners sradomski
Posted: Sep 13, 2024
Making benefits easier for members by integrating claims across its disability, supplemental health, stop-loss and dental products.
Posted: Sep 13, 2024
Partnership meant to enhance property inspections.
Posted: Sep 13, 2024
OSHA Severe Injury Dashboard Now Public The Occupational Safety and Health Administration (OSHA) launched the Severe Injury Dashboard offering employers a chance to view trending severe injuries. The online tool offers data collected from ...
Posted: Sep 13, 2024