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Hewlett Packard said Monday it would continue legal proceedings to seek up to $4 billion in damages from British billionaire Mike Lynch’s estate in the UK. The U.S. company had been seeking compensation over its acquisition of British tech firm...
Posted: Sep 03, 2024
Aon, via its protected cell company White Rock Insurance Company PCC Limited, has facilitated a new $45.5 million Randolph Re private catastrophe bond, marking the first time a cat bond has been issued using a Guernsey PCC structure. This new seri...
Posted: Sep 03, 2024
TALLAHASSEE, Fla. (AP) — A Republican state representative in central Florida, a lead sponsor of an anti-squatting property rights bill signed into law this year, has been indicted on felony forgery charges related to her administration of a private...
Posted: Sep 03, 2024
Oil service company Halliburton on Tuesday said a cyberattack last month has caused “disruptions and limitations” to business applications that support operations. “The company believes the unauthorized third party accessed and exfi...
Posted: Sep 03, 2024
Global rating agency AM Best has affirmed its “A” (Excellent) Financial Strength Rating (FSR) and its “a” (Excellent) Long-Term Issuer Credit Rating (ICR), both with a stable outlook, for Active Capital Reinsurance, Ltd. (Active Re). The rationale...
Posted: Sep 03, 2024
The Connecticut town of Plymouth has been hacked for more than $200,000 and the town’s finance director has resigned as a result of the cybersecurity incident. Mayor Joseph Kilduff said the town fell victim to a “social engineering scam&#...
Posted: Sep 03, 2024
Insured losses have surged in the past decade as climate change in Canada sparks wildfires, intense hailstorms and thunderstorms with severe flooding in major cities. Insured losses from natural disasters averaged C$2.2 billion ($1.63 billion) a year...
Posted: Sep 03, 2024
Global ratings agency S&P Global expects the reinsurance industry to earn its cost of capital once again in 2024-2025, cementing its stable outlook view of the sector, but warns that discipline must be maintained amid casualty risks. In 2023,...
Posted: Sep 03, 2024
The trial-by-fire chaos of overwhelming and overlapping claims creates an opaque situation that makes it hard to evaluate which members of your adjuster force deliver on your promises and enhance your reputation, and which pose a liability.
Posted: Sep 03, 2024
Geo Europe’s core portfolio primarily comprises of specialized mid-sized companies.
Posted: Sep 03, 2024
Insurance Business Magazine - US
Posted: Sep 03, 2024
Ryan Specialty, the international specialty insurer, has signed a definitive agreement to acquire certain assets of the European managing general agent (MGA), Geo Underwriting Europe BV (Geo Europe), which is part of The Ardonagh Group. The compan...
Posted: Sep 03, 2024
Reinsurance giant’s Munich Re and Swiss Re remain the two largest global reinsurers across the globe according to data from ratings agency AM Best. In prior years, the agency ranked the top 50 global reinsurers in a single list, but now, wit...
Posted: Sep 03, 2024
Product recalls in the U.S. decreased across the automotive, consumer product, food and drink, medical device and pharmaceutical industries in the second quarter, according to a new report from Sedgwick.. Sedgwick’s U.S. Recall Index found the...
Posted: Sep 03, 2024
A combination of higher prices and tighter policy terms, supported by favourable risk/return dynamics and healthy investment income, are among the key drivers supporting the global reinsurance industry, as Moody’s outlook for the sector has...
Posted: Sep 03, 2024
Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and potentially claims adjustmen...
Posted: Sep 03, 2024
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has entered the International Professional Indemnity Insurance marketplace. Simultaneously, Ryan Barnes has been appointed Head of Professional...
Posted: Sep 03, 2024
Zurich Insurance Group and its corporate foundation, the Z Zurich Foundation, have launched the Zurich Climate Resilience Alliance (the Alliance) to assess current levels of resilience within vulnerable communities and implement appropriate soluti...
Posted: Sep 03, 2024
Parametric insurance catalyser Skyline Partners and reinsurance giant Munich Re have revealed that a claim triggered by Hurricane Beryl has been paid to the Jamaican Co-operative Credit Union League (JCCUL). The payment was due under a parametric...
Posted: Sep 03, 2024
Underwriting agency Dynamic Reinsurance has announced the promotion of David Vargas Chavez to Operations Director, a role based in Mexico City. “For me this role represents a challenge that I feel prepared to take on, supported by the experience I...
Posted: Sep 03, 2024
A combination of rapid exposure growth and inflationary pressures means that insurers should now be expecting average annual losses (AAL) from global natural catastrophes to reach a new high of $151 billion, according to a new study from Verisk Ex...
Posted: Sep 03, 2024
Copilot for Microsoft 365 has been successfully adopted by 3,000 users at reinsurance giant Swiss Re, with plans to expand its usage across the firm’s entire workforce. According to Microsoft, this deployment marks a significant milestone in...
Posted: Sep 03, 2024
French reinsurer SCOR has appointed Sofia Kyriakopoulou as its new Chief Data & Analytics Officer, where she will further integrate advanced analytics, enabling the firm to harness the full potential of AI and support data-driven decisions acr...
Posted: Sep 03, 2024
Posted: Sep 03, 2024
The £1.1 trillion of UK defined-benefit (DB) pensions, boosted by yields, should benefit Aviva, Legal & General and Phoenix, which help firms offload pension obligations viewed as an unwelcome liability, Bloomberg Intelligence (BI) believes. T...
Posted: Sep 03, 2024
USAA, a provider of insurance, banking, and investment and retirement solutions for US military veterans, has announced that its President and CEO, Wayne Peacock, will retire in the first half of 2025. Jim Zortman, USAA Board Chairman and retired...
Posted: Sep 03, 2024
Landlords for offices, apartment complexes and other commercial real estate have $1.5 trillion of debt due by the end of next year, and about a quarter of that borrowing could be hard to refinance, according to Jones Lang LaSalle Inc. …
Posted: Sep 03, 2024
BOVINA, Miss. (AP) — Seven people were killed and dozens were injured in Mississippi after a commercial bus overturned on Interstate 20 on Saturday morning, according to the Mississippi Highway Patrol. Six passengers were pronounced dead at the scene...
Posted: Sep 03, 2024
HEWETT, W.Va. (AP) — Ryan Craddock had seen his share of tragedy during two decades as a coal miner and firefighter. Then came the toughest heartbreak of all: his own. Craddock and his family are mourning the loss of his …
Posted: Sep 03, 2024
He’s been called “eccentric,” 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 M...
Posted: Sep 03, 2024
Cayman Islands-based reinsurer Topsail Re has announced the key appointments of Joel Belliveau as Vice President of Analytics and Jessica Hall as Reinsurance Accounting Manager. Belliveau joins Topsail Re from National General Insurance, where he...
Posted: Sep 03, 2024
A Boar’s Head deli meat plant in Virginia tied to a deadly food poisoning outbreak repeatedly violated federal regulations, including instances of mold, insects, liquid dripping from ceilings, and meat and fat residue on walls, floors and equip...
Posted: Sep 03, 2024
A judge on Friday allowed smoking to continue in Atlantic City’s casinos, giving some measure of relief to the city’s struggling casino industry while rebuffing workers who have long sought to be able to breathe clean air on the casino &#...
Posted: Sep 03, 2024
The California Department of Insurance is known for its rigorous oversight, making it the gatekeeper of the insurance industry in California. The CDI regulates all aspects of insurance, acting as judge, jury and executioner when it comes to enforcing...
Posted: Sep 03, 2024
California, Oregon, Colorado, Washington and Arizona are the states most at risk for wildfires, earning an “F” rating, according to a new analysis by Guidewire detailing wildfire risk in the U.S. at local, state, and national levels. Guid...
Posted: Sep 03, 2024
Maryland transportation leaders on Thursday approved a contract for rebuilding the Francis Scott Key Bridge several months after the 1.6-mile (2.6-kilometer) steel span collapsed under the impact of a massive container ship that lost power and crashe...
Posted: Sep 03, 2024
Nationwide’s Ashley Moffatt updates us on casualty trends and discusses some of her group’s coverage approaches. The post Navigating Casualty Exposu...
Posted: Sep 02, 2024
Data, AI and point-of-care screening devices are revolutionizing the musculoskeletal health care field, giving providers and patients a real-time understanding of recovery and the solutions that can drive success. The post
Posted: Sep 02, 2024
In this fictive scenario, a hot to trot private equity firm takes a big hit when it fails to transfer some of the risk of a recent acquisition. The post Fleabitten appeared first on
Posted: Sep 02, 2024
Analyzing clinical data can help occupational medicine clinicians improve their practices and provide better care for injured workers. The post
Posted: Sep 02, 2024
This post is part of a series sponsored by AgentSync. Managing adjusters across multiple lines of business and in many states is notoriously painful. The complications of state nuances, the tightening timelines for customer communications in the wake...
Posted: Sep 02, 2024
CorVel has witnessed topical costs rise following the recent drop in opioid prescriptions, and now offers alternatives to manage their expense without impacting care. The post
Posted: Sep 02, 2024
Insurance Information Institute
MEDIA CONTACTS Insurance Information Institute (Triple-I): Loretta Worters, [email protected] SAS: Julia Norton, [email protected] New report explores insurers’ cross-industry opportunity to influence the responsible development, use of AI, and he...
Posted: Sep 02, 2024