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According to ratings agency AM Best, the workers’ compensation (WC) segment is continuing to outperform every other lines of business in the US property & casualty (P&C) sector, reinforced by ongoing declines in loss frequency and fa...
Posted: Sep 13, 2024
Even the most promising technology will not be effective without a company’s commitment to using it. The post From Pilot Programs to Full Implementation, Risk Con...
Posted: Sep 13, 2024
Arizona-domiciled surplus lines insurance carrier, AM Specialty Insurance Company (ASIC), will serve as an underwriting partner for Once Insurance’s entry into the jewellery insurance market. This partnership marks a significant milestone in simpl...
Posted: Sep 13, 2024
Life insurer and asset manager Aegon has appointed Michele Bareggi as Chief Strategy, Transformation and Growth Officer, and member of Aegon’s Executive Committee, starting November 1, 2024. The executive is succeeding Duncan Russell, who took on...
Posted: Sep 13, 2024
Miller, an independent specialist reinsurance and insurance broker, has announced the appointment of Andrew Gordon to its Marine team. Gordon’s arrival marks another key step in expanding Miller’s Marine capabilities, following several senio...
Posted: Sep 13, 2024
Guy Carpenter, a global risk and reinsurance specialist, highlights that in the second quarter of 2024, there was a significant increase in demand for peak peril retrocession (retro) coverage and cat on direct and facultative (D&F) limit acros...
Posted: Sep 13, 2024
Analysts at RBC Capital Markets expect Hurricane Francine to be a highly manageable loss event for the P&C insurance industry, most likely in the very low billions, with a minimal impact to reinsurers. On September 11th, Francine made landfall...
Posted: Sep 13, 2024
Posted: Sep 13, 2024
Hurricane Francine, the sixth named storm of the Atlantic hurricane season, made landfall over coastal Louisiana on September 11th as a Category 2 storm, and is expected to drive insurance industry wind and storm surge losses of up to $1.5 billion...
Posted: Sep 13, 2024
Tesco was not entitled to terminate some employees’ contracts and offer to rehire them on less favorable terms, the United Kingdom’s Supreme Court ruled on Thursday. Shopworkers’ union Usdaw took legal action against Britain’s...
Posted: Sep 13, 2024
Cytora, a digital risk processing platform, has partnered with Mitiga Solutions, a provider of science-based climate risk intelligence, to offer insurers enhanced insights into their climate risk exposure, enabling more informed decision-making. I...
Posted: Sep 13, 2024
South America is being ravaged by fire from Brazil’s Amazon rainforest through the world’s largest wetlands to dry forests in Bolivia, breaking a previous record for the number of blazes seen in a year up to Sept. 11. Satellite data ̷...
Posted: Sep 13, 2024
As tropical storm Bebinca barrels towards waters off northern Taiwan gathering strength into a possible typhoon, weather forecasters in Taipei are using a new and so far successful method to help track its path – artificial intelligence (AI). A...
Posted: Sep 13, 2024
Pro MGA Global Solutions, the independent managing general agent (MGA) incubation arm of Pro Global, an advisor in the specialist insurance industry, has hired Haris Khan as its new Head of Solutions and Markets, effective November 1, 2024. Haris...
Posted: Sep 13, 2024
UK-domiciled, digital managing general agent (MGA) Ripe has appointed Alan Thomas as Chief Executive Officer (CEO) to usher in the company’s next growth phase, subject to regulatory approval. Thomas succeeds Paul Williams, who, after almost...
Posted: Sep 13, 2024
OpenAI Chief Executive Officer Sam Altman and Nvidia Corp. CEO Jensen Huang met with senior Biden administration officials and other industry leaders at the White House on Thursday to discuss how to fill the massive infrastructure needs for artificia...
Posted: Sep 13, 2024
An Atlanta-based venture capital fund on Wednesday agreed to stop operating a program that awarded grants to small businesses run by Black women to settle a lawsuit by an anti-affirmative action group that claimed it discriminated based on race. Fear...
Posted: Sep 13, 2024
Did you hear the one about cat poop clogging a toilet, resulting in thousands of gallons of sewage water in the home and a big insurance claim? Lin Werkheiser, an insurance fraud investigator, has heard that one and many more …
Posted: Sep 13, 2024
Ajit Jain, the longtime top insurance executive at Warren Buffett’s Berkshire Hathaway BRKa.N, sold more than half of his Class A shares in the conglomerate this week. According to a Wednesday night regulatory filing, the 73-year-old Jain sold...
Posted: Sep 13, 2024
Michigan-domiciled property and casualty holding company Conifer Holdings has announced that as of August 30th, 2024, it completed the sale of its insurance agency operations for $45 million, subject to transaction expenses and customary purchase...
Posted: Sep 13, 2024
A federal appeals court has upheld a district court ruling that a wholesale distributor of plumbing supplies has wrongly exempted its inside sales representatives from overtime pay for years. The 1st Circuit Court of Appeals denied F.W. Webb’s...
Posted: Sep 13, 2024
One of San Francisco’s most iconic buildings is celebrating its reopening after a four-year, $250 million makeover meant to symbolize the city’s renewal. It’s doing so under the shadow of a lawsuit from one of its key tenants. The T...
Posted: Sep 13, 2024
Oregon employers will pay on average less for workers’ compensation coverage in 2025. The Oregon Department of Consumer and Business Services the decline in workers’ comp rate, which marks 12 years of average decreases in the pure premium...
Posted: Sep 13, 2024
Toronto-Dominion Bank will pay almost $28 million in fines and restitution after the Consumer Financial Protection Bureau said the lender shared inaccurate information about tens of thousands of US customers with consumer reporting companies. A CFPB...
Posted: Sep 13, 2024
The Supreme Court of Maryland heard arguments on Tuesday about the constitutionality of a 2023 law that ended the state’s statute of limitations for child sexual abuse lawsuits following a report that exposed widespread wrongdoing within the Ar...
Posted: Sep 13, 2024
Justin Timberlake is scheduled to enter a new plea Friday in his drunken driving case in New York’s Hamptons, prosecutors said. Details of the plea weren’t disclosed, but a person with knowledge of the deal said Timberlake has agreed to &...
Posted: Sep 13, 2024
Fresh off a blockbuster US Supreme Court decision that rolled back the power of federal agencies to regulate business, big-government foes are pressing an even bolder agenda. As the court prepares to start its new term next month, conservatives are &...
Posted: Sep 12, 2024
A preliminary estimate shows total damage and economic loss from Hurricane Francine in the U.S. is expected to be $9 billion. The storm effects are continuing to be felt, and some areas have yet to report complete information about damage, …
Posted: Sep 12, 2024
An insured has a manufactured home insurance policy. The insured used to live in a home on the same deed of land but has now turned the dwelling into a storage building.
Posted: Sep 12, 2024
Bareggi brings over 25 years of experience in the financial services industry, including his tenure at Athora, a European savings and retirement services group.
Posted: Sep 12, 2024
Mylo will embed insurance for the co-parenting application’s 20,000+ users.
Posted: Sep 12, 2024
Claims organizations can reap the benefits of AI by choosing tools uniquely designed to remove friction and simplify processes.
Posted: Sep 12, 2024
Moody’s, Amwins Expect Continued Cyber Market Growth Two organizations recently expressed optimism that th...
Posted: Sep 12, 2024
Sentry Buys Nonstandard Auto Insurer The General From Ame...
Posted: Sep 12, 2024
How AI-Enabled Digital Twins Are Helping P/C Insurers Weather the Storm The P/C insurance indust...
Posted: Sep 12, 2024
Tech Bytes: New Partnerships at WTW, Cogitate, Cytora WTW, a global advisor...
Posted: Sep 12, 2024
The reciprocal reported a net underwriting loss of $44 million.
Posted: Sep 12, 2024
A recent study by Travelers revealed that 35% of workplace injuries occur during an employee’s first year on the job, resulting in more than 6 million missed workdays. The post
Posted: Sep 12, 2024
Insurance Business Magazine - US
Posted: Sep 12, 2024
Insurance Business Magazine - US
Posted: Sep 12, 2024