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A new report from Marsh McLennan and Zurich titled “Closing the cyber risk protection gap” is calling for a closer collaboration between the insurance industry and the public sector as cyber insurance coverage gaps remain. “Both the...
Posted: Sep 09, 2024
Britain’s antitrust regulator said on Friday it had provisionally found Alphabet’s Google had abused its dominant position in digital advertising to restrict competition. The Competition and Markets Authority (CMA) said it believed Google...
Posted: Sep 09, 2024
The first half of 2024 set a 15-year low for first-half insurance carrier mergers and acquisitions, according to Clyde & Co’s latest Mid-Year Growth Report. The number of insurance carrier M&A transactions completed in the first six mon...
Posted: Sep 09, 2024
Chrysler parent Stellantis said Saturday it is recalling 1.46 million vehicles worldwide due to a software malfunction in the anti-lock brake system that can increase the risk of a crash. The recall includes nearly 1.23 million Ram 1500 trucks from &...
Posted: Sep 09, 2024
CHARLESTON, W.Va. (AP) — A coal miner was killed on the job in West Virginia on Friday night, Gov. Jim Justice said. The Republican governor said Gary Chapman, 33, of South Williamson, Kentucky, died after being injured at the Mountaineer …
Posted: Sep 09, 2024
On July 1, 2024, changes to the Georgia Direct Action Statutes, O.C.G.A. § 40-1-112 and O.C.G.A. § 40-2-140, went into effect and limited the circumstances under which a plaintiff can assert a direct-action claim against an insurer of a motor …
Posted: Sep 09, 2024
CHEROKEE, N.C. (AP) — The Eastern Band of Cherokee Indians began selling marijuana and cannabis products to any adult 21 or over starting Saturday at its tribe-owned dispensary in North Carolina, where possession or use of the drug is otherwise ̷...
Posted: Sep 09, 2024
An underwater tunnel that passes beneath New York City’s East River sprung a leak last Wednesday after a city contractor mistakenly drilled a hole through it, sending streams of water into the heavily used passage as officials scrambled to plug...
Posted: Sep 09, 2024
On a recent sunny afternoon in Lancaster, Cassandra Hughes looked for a place to cool down. She set up a lawn chair in the shade at the edge of a park and spent the afternoon with a coloring book, listening …
Posted: Sep 09, 2024
In their financial results for the fiscal year 2024 (FY24), Guidewire has posted $980.5 million in total revenue, an increase of 8% from the prior year. Guidewire also disclosed that it’s subscription and support revenue sat at $549.1 millio...
Posted: Sep 09, 2024
A technician responding to a power outage at a Maryland home and a neighbor both reported smelling gas the night before the residence exploded, killing two people, but a leak wasn’t initially found, according to a report released by national &#...
Posted: Sep 09, 2024
A storm system in the Gulf of Mexico is forecast to strengthen into a hurricane early this week, bringing heavy rain, damaging winds and potentially life-threatening storm surges to parts of the Texas and Louisiana coastlines. The system is forecast...
Posted: Sep 09, 2024
New York Governor Kathy Hochul on Thursday signed a new law requiring retailers to boost safety protections for store workers, including requiring major chains to add panic buttons in all New York State locations. Unions representing retail workers h...
Posted: Sep 09, 2024
Nearly four years after California voters approved better wages and health benefits for ride-hailing drivers and delivery workers, no one is actually ensuring they are provided, according to state agencies, interviews with workers and a review of wag...
Posted: Sep 09, 2024
AI, machine learning and other tools are making it easier for actuaries and insurers to react to trends and improve insurance outcomes. The post
Posted: Sep 08, 2024
This post is part of a series sponsored by IAT Insurance Group. In 2019, a woman died after a semi-truck hauling avocados swerved and struck a parked vehicle, attempting to avoid a road rage incident. The deceased woman was the …
Posted: Sep 08, 2024
AM Best has affirmed Brazilian reinsurer IRB (Re)’s Financial Strength Rating of A- and its Long-Term Issuer Credit Rating of “a-”, while revising the outlooks from negative to stable. The ratings reflect IRB (Re)’s balance sheet strength, assesse...
Posted: Sep 08, 2024
With its vast expanses of forest, Canada has the most “certified” sustainable timber operations of any nation, according to the nonprofit organizations that attest to the environmental soundness of logging practices. Such forestry-standar...
Posted: Sep 08, 2024
Don’t miss this paw-some growth opportunity.
Posted: Sep 08, 2024
While there is excitement about the continued recovery of an industry that suffered tremendously during the coronavirus pandemic, these businesses—the cornerstones of our communities—still have challenges to contend with.
Posted: Sep 08, 2024
You can increase your agency's value through benchmarking, acquisition and succession planning. Download this guide for free.
Posted: Sep 08, 2024
The product covers $100 million in capacity per construction project on a lead or follow basis.
Posted: Sep 08, 2024
Developing strategies to minimize downtime and financial loss.
Posted: Sep 08, 2024
You can increase your agency's value through benchmarking, acquisition and succession planning. Download this guide for free.
Posted: Sep 08, 2024
The insurer has also selected Guidewire Canvas, Guidewire Explore and Guidewire Predict to embed insights into its claims workflows.
Posted: Sep 08, 2024
PAVE is the latest AI innovator to integrate its machine-learning and computer vision models with the Mitchell Intelligent Open Platform.
Posted: Sep 08, 2024
Insurance Information Institute
For immediate release Florida Press Office: Mark Friedlander, 904-806-7813, [email protected] ST. JOHNS, Fla., Sept. 9, 2024 — Residents from Texas to the Florida Panhandle should prepare for the potential impacts of Tropical Storm Francine, which i...
Posted: Sep 08, 2024
Zurich, Marsh McLennan Call for Public Partn...
Posted: Sep 08, 2024
Highlighting the existence of blanket exclusions in reinsurance contracts for risks originating in the region impacted by the ongoing Russia Ukraine conflict, Aon and Marsh McLennan are jointly calling for their removal. In a joint statement issued o...
Posted: Sep 08, 2024
Brokerage Giants Aon, Marsh Unite In Call for Indu...
Posted: Sep 08, 2024
Despite noting the “almost limitless” potential of the cyber re/insurance market, SCOR’s CEO, Thierry Léger, has observed that it can only grow at the pace of capacity, meaning it will chiefly be an opportunity for the next few d...
Posted: Sep 08, 2024
The Zurich Apprenticeship Program provides candidates with a fully-funded enrollment in the Business – Insurance diploma program at Seneca Polytechnic.
Posted: Sep 08, 2024
Connect Underwriting Limited has announced the launch of reinsurance MGA BRICS UW, which will reportedly provide capacity to emerging markets. “It will also act as a hub for international markets, enabling reputable emerging market reinsurer...
Posted: Sep 08, 2024
The market environment for reinsurers remains both promising and challenging, and after impressive growth in recent years, the marketplace is poised to grow by 2-3% over the next three years, Munich Re said at the 66th Rendez-Vous de Septembre in...
Posted: Sep 08, 2024
Although S&P Global Ratings had many positive things to say about the reinsurance sector at its recent briefing in Monte Carlo, Senior Director Taoufik Gharib urged the market not to forget about the major risk posed by the US casualty space....
Posted: Sep 08, 2024
In a joint statement, Aon and Marsh McLennan have called on the re/insurance industry to aid Ukraine’s resilience by facilitating economic growth, chiefly through the removal of blanket exclusions. According to the two firms, blanket exclusi...
Posted: Sep 08, 2024
In commercial auto management, telematics can be a double-edged sword — but would you rather go into battle unarmed? The post
Posted: Sep 08, 2024
Oak Reinsurance and Polo Managing Agency Limited (PMA), a PoloWorks company, have announced that Oak Re Syndicate 2843 has received Lloyd’s ‘in principle’ approval to commence underwriting from 1 January 2025. Paul Andrews, Chief Executive Officer...
Posted: Sep 08, 2024
Global rating agency Fitch forecasts global reinsurance net premiums written to continue to grow in 2024 and 2025, forecasting USD 173.4 billion and USD 183.8 billion, respectively, with the impact of catastrophe losses to worsen. “Premiums growth...
Posted: Sep 08, 2024
Based on fully-year 2023 and first half 2024 revenues, Aon Reinsurance Solutions, the reinsurance broking arm of the global intermediary, remains the world’s top reinsurance broker, and while Guy Carpenter is a close second so far this year,...
Posted: Sep 08, 2024
Gallagher had originally acquired Bollinger TPA Services in 2014.
Posted: Sep 07, 2024
American National is a provider of annuities, life insurance, retirement solutions, and P&C products.
Posted: Sep 07, 2024
Social inflation has become the main growth driver of US liability claims, with a rising number of large court verdicts pushing claims in the US to increase by 57% in the past decade, ultimately causing them to peak at 7% in 2023, the first time s...
Posted: Sep 07, 2024
Jacques de Vaucleroy, chairman of Swiss Re, hopes that higher prices will prompt catastrophe-exposed property owners to better prepare for climate risks. The post
Posted: Sep 07, 2024
Though the volume of premiums has fallen off compared to previous years, specialty and E&S coverages are still in hot demand. The post
Posted: Sep 07, 2024
Choreographing a Successful Insurance Career Talent Gap
Posted: Sep 06, 2024
New York State Law Mandates Panic Buttons for Large Retailers New York Governor Kathy Hochul on Thursday signed a new law requiring retailers to boost safety protections for store workers, including requiring major chains to add panic buttons in all...
Posted: Sep 06, 2024
NICB, CPB Partner to Stop Export of Stolen Vehicles With new vehicle theft trends emerging, inclu...
Posted: Sep 06, 2024
Insurance Business Magazine - US
Posted: Sep 06, 2024