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Real-Time Rating and Quoting: A Game Changer for Underwriters

Insurance Journal

This post is part of a series sponsored by Selectsys. In the fast-paced insurance industry, efficiency and accuracy are paramount. Real-time rating and quoting have emerged as game changers for underwriters, enabling them to provide quick and precise...

Posted: Sep 04, 2024

Legacy Systems: Modernize or Overhaul?

Insurance Thought Leadership

Legacy Systems: Modernize or Overhaul? Going Digital

Posted: Sep 04, 2024

IBHS: Parcel, Community Level Mitigation Needed to Avoid Catastrophic Wildfire Devastation

Carrier Management

IBHS: Parcel, Community Level Mitigation Needed to Avoid Catastrophic Wildfire Devastation A new report...

Posted: Sep 04, 2024

Embrace Pet Insurance Releases Q2 2024 Results, Most Expensive Claim is 4th Highest Ever

Carrier Management

Embrace Pet Insurance Releases Q2 2024 Results, Most Expensive Claim is 4th Highest Ever Embra...

Posted: Sep 04, 2024

American Transit Insurance Company is insolvent

coverager

The carrier recently shared its second quarter results.

Posted: Sep 04, 2024

Onfleet integrates with Fairmatic

coverager

The Onfleet/Fairmatic integration provides fleet managers with a comprehensive view of driver performance.

Posted: Sep 04, 2024

California Legislation to Ban Deepfakes, Protect Workers and Regulate AI Approved

Carrier Management

California Legislation to Ban Deepfakes, Protect Workers and Regulate AI Approved California lawmakers...

Posted: Sep 04, 2024

U.S. Auto Safety Agency Reports 28th Death Due to Airbag Inflators

Carrier Management

U.S. Auto Safety Agency Reports 28th Death Due to Airbag Inflators The National Highway Tra...

Posted: Sep 04, 2024

SpaceX Faces Concerns Over Environment Damage in South Texas

Insurance Journal

BOCA CHICA — It wasn’t just a day at the beach. But it never is on this small strip of sand near the Texas-Mexico border, not since SpaceX began launching rockets here. On this particular Saturday in August, about a …

Posted: Sep 04, 2024

AM Best Downgrades Credit Rating of Iowa’s IMT Insurance

Insurance Journal

AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of IMT Insurance Company and its affiliate, Wadena Insur...

Posted: Sep 04, 2024

CSU Forecasters Predict Quiet Hurricane Activity to Start September

Insurance Journal

The first two weeks of September are expected to be quiet for Atlantic hurricane activity, according to experts at Colorado State University. The CSU Tropical Meteorology Project, which has been forecasting the Atlantic hurricane season for more than...

Posted: Sep 04, 2024

Three Charged With Auto Insurance Fraud in Miami After False Injury Claims

Insurance Journal

Florida authorities have charged a Miami-area nurse practitioner and two others with creating false medical reports and attempting to defraud an auto insurance carrier out of more than $47,000. Local news reports said that investigators with the stat...

Posted: Sep 04, 2024

Man Drives Car Through Restaurant Patio in Minneapolis Suburb, Killing 2

Insurance Journal

ST. LOUIS PARK, Minn. (AP) — A man drove his car through a restaurant patio where a group of medical workers were celebrating in a Minneapolis suburb on Sunday, killing two people and injuring at least four, police and hospital …

Posted: Sep 04, 2024

Chubb hires QBE’s Greg Giardiello as Global Controller

Reinsurance News

Chubb has announced the appointment of Greg Giardiello as Global Controller, succeeding Mong-Diep “Dee” Le, who was recently named Chubb’s Chief Auditor. Based in Chubb’s Philadelphia office, Giardiello will be reporting to...

Posted: Sep 04, 2024

Explosion Destroys Southwest Louisiana Home, Killing 1 and Injuring 5

Insurance Journal

RAGLEY, La. (AP) — Investigators are trying to determine the cause of an explosion that destroyed a southwest Louisiana home, killing a teenage boy from Alabama and injuring five other people. Louisiana State Fire Marshal Bryan J. Adams said the &#82...

Posted: Sep 04, 2024

Kansas Woman Sentenced to Probation for Insurance Fraud

Insurance Journal

Kansas Insurance Commissioner Vicki Schmidt announced an Arkansas City woman has been sentenced to 18 months of probation for insurance fraud. Misty Jane Dial, age 33, pleaded guilty in the District Court of Cowley-Arkansas City on July 9 to one &#82...

Posted: Sep 04, 2024

EPIC strengthens commercial and private client practices with Phillips Bros. acquisition

Reinsurance News

EPIC Insurance Brokers & Consultants (EPIC) has expanded its presence in the midwest of the US with the acquisition of Phillips Bros. Insurance Agency. Based in Chicago, Phillips Bros. is a multi-line firm that focuses on private client and co...

Posted: Sep 04, 2024

People Moves: CRC Group Adds New Underwriters in Tennessee, Georgia

Insurance Journal

CRC Group, a wholesale specialty insurance distributor with headquarters in Birmingham, Alabama, has added new faces to its team in the Southeast. Sam Rector joined the Nashville office as underwriting team leader. He has spent almost 10 years in the...

Posted: Sep 04, 2024

Herald and Salesforce Collaborate to Enable Real-Time Commercial Insurance Connectivity

coverager

Herald, digital infrastructure for commercial insurance, has announced a collaboration with Salesforce. The collaboration integrates Herald into Salesforce's Financial Services Cloud, enabling insurance brokerages to quote and bind in their CRM.

Posted: Sep 04, 2024

Nirvana partners with Aviva

coverager

Nirvana will now underwrite cyber risk on behalf of Aviva across the European Economic Area.

Posted: Sep 04, 2024

Neptune Flood surpasses 200,000 policies

coverager

The company offers primary and excess private flood insurance and parametric earthquake insurance.

Posted: Sep 04, 2024

GoHealth to acquire e-TeleQuote

coverager

The carrier recently shared its second quarter results.

Posted: Sep 04, 2024

Reinsurance pricing to perpetually recalibrate, but program restructuring to endure: Guy Carpenter

Reinsurance News

After 2023 saw substantial reinsurance market corrections, including the restructuring of programs and the reset of pricing, 2024 has focused on the details, but according to executives at Guy Carpenter, while pricing is expected to continuously r...

Posted: Sep 04, 2024

Tokio Marine HCC launches malicious cyber event coverage for event cancellation

Reinsurance News

Tokio Marine HCC (TMHCC) – Specialty Group, part of the Tokio Marine HCC companies based in Houston, Texas, has announced the addition of a malicious cyber event extension to its cancellation product. This enhancement is available through both its...

Posted: Sep 04, 2024

MNK Re appoints Mark Ritson as Director of Energy

Reinsurance News

MNK Re, an independent broker of specialist risks into Lloyd’s, has announced the appointment of Mark Ritson as Director of Energy. In this role, Ritson will focus on expanding MNK Re’s energy portfolio, leading efforts to develop and secure more...

Posted: Sep 04, 2024

Ryan Specialty Completes Buy of Assets of Greenhill From Alera

Insurance Journal

Ryan Specialty said it completed its acquisition of certain assets of Greenhill Underwriting Insurance Services from Alera Group, Inc, effective Sept. 1. The deal was previously announced last month. Alera acquired Greenhill in 2022. Houston-based Gr...

Posted: Sep 04, 2024

Renewal rates for nearly all major commercial lines down month over month: Ivans

Reinsurance News

In the August 2024 results of the Ivans Index, year over year, Commercial Auto, BOP, General Liability, Commercial Property and Umbrella experienced notable increases in average premium renewal rates, while premium renewal rates decreased for Work...

Posted: Sep 04, 2024

Flood Re warns complex planning system threatens flood insurance for new builds

Reinsurance News

While progress has been made in adopting flood mitigation measures for new builds in the UK, Flood Re warns that a lack of transparency, consistency, and clarity is undermining the insurance sector’s confidence in the planning system and threateni...

Posted: Sep 04, 2024

Reinsurers’ Appetite for Natural Catastrophe Risks Grows – But Discipline Remains

Insurance Journal

Top reinsurers are showing increasing – but disciplined – appetite for natural catastrophe risks as a result of rising demand, improved pricing, more favorable terms and conditions, and improving investment income, according to a report published by...

Posted: Sep 04, 2024

Allianz UK grows personal lines with Wright appointment as MD of home insurance

Reinsurance News

Allianz UK has announced the addition of Graham Wright to its growing personal lines business, appointing him Managing Director of Home Insurance. Reporting to Serge Raffard, he will join the UK personal lines leadership team in December, and will...

Posted: Sep 04, 2024

Enstar’s “go-shop” period has expired, Sixth Street merger expected to close in mid-2025

Reinsurance News

Global insurance group Enstar has announced that its 35-day “go-shop” period, provided with the previously announced definitive merger agreement with Sixth Street, expired on September 2, 2024. The definitive merger agreement involves Sixth Street...

Posted: Sep 04, 2024

For Small Commercial Businesses, Insurance Satisfaction Is a Matter of Trust

Insurance Journal

Trust impacts customer satisfaction, loyalty and brand advocacy more than any other factors when small businesses choose a commercial insurance provider. J.D. Power’s 2024 U.S. Small Commercial Insurance Study found that among small businesses...

Posted: Sep 04, 2024