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Agency Nation Meets: Indy

IA Magazine

Indy is the mascot for Trusted Choice® and is super egg-cited to be here helping spread the word about how great independent insurance agents are. At 21 years old, Indy is ready to skydive right into life with an unwavering curiosity about how all th...

Posted: Jul 31, 2024

Boost Insurance secures investment from BHMS

coverager

BHMS is a private investment firm with a specialty in middle market insurance and insurance-related businesses.

Posted: Jul 31, 2024

Lemonade ends Q2 with $57 million loss

coverager

Premium per customer stood at $387, 8% higher compared to Q2 2023.

Posted: Jul 31, 2024

Americans Concerned Extreme Weather Will Impact Retirement

Carrier Management

Americans Concerned Extreme Weather Will Impact Retirement Concerns ab...

Posted: Jul 31, 2024

The Evolving Landscape of Cyber Risk and Insurance

Insurance Thought Leadership

The Evolving Landscape of Cyber Risk and Insurance sradomski Wed, 07/31/2024 - 14:34 ...

Posted: Jul 31, 2024

Report: 1Q 2024 California Workers’ Comp Written Premium 3% Lower Than Year Ago

Insurance Journal

Written premium for the first quarter of 2024 was 3% lower than the first quarter of 2023, while written premium in 2023 was slightly above 2022, according to the Workers’ Compensation Insurance Rating Bureau of California. The WCIRB released i...

Posted: Jul 31, 2024

Tesla Recalls 1.85M Vehicles Over Unlatched Hood Issue

Carrier Management

Tesla Recalls 1.85M Vehicles Over Unlatched Hood Issue Tesla is reca...

Posted: Jul 31, 2024

Nationwide Tops List of Best Pay-As-You-Go Car Insurance

Carrier Management

Nationwide Tops List of Best Pay-As-You-Go Car Insurance Pay-as-you-go car insurance is a recent option in...

Posted: Jul 31, 2024

Landslides in Southern India Kill at Least 93 With Many More Trapped

Insurance Journal

NEW DELHI (AP) — Multiple landslides in southern India have killed 93 people and many others are feared trapped under the debris, officials said Tuesday, after torrential rains triggered torrents of mud and water that swept through tea estates and &#...

Posted: Jul 31, 2024

People Moves: JM Wilson Hires and Promotes Transportation Underwriting Team Members

Insurance Journal

JM Wilson, headquartered in Portage, Michigan, hired Gina Deryas as a transportation renewal underwriter and Brian Bragg as a transportation underwriter. JM Wilson team member Joe Delaney was promoted to transportation underwriter. Deryas is responsi...

Posted: Jul 31, 2024

Costs to Remediate PFAS Water Contamination Could Hit $175B

Risk & Insurance

A new report by Milliman estimates that PFAS remediation costs for U.S. water districts could reach as high as $175 billion, helping companies and insurers quantify the potential exposure. The post

Posted: Jul 31, 2024

CrowdStrike outage an opportunity for cyber re/insurance market to reset, says AXIS CEO

Reinsurance News

The recent CrowdStrike-linked IT global outage presents an opportunity for the cyber insurance and reinsurance market to reset appropriately, according to Vincent Tizzio, President and CEO of AXIS Capital. During today’s Q2 2024 AXIS Capital earni...

Posted: Jul 31, 2024

People Moves: Malmström Named Swiss Re’s Group CFO as Dacey Retires; MNK Re Appoints Industry Vetera...

Insurance Journal

This edition of International People Moves details appointments at Swiss Re and MNK Re. A summary of these new hires follows here. Malmström Named Swiss Re’s Group CFO as Dacey Retires Swiss Re announced that Anders Malmström will succeed John...

Posted: Jul 31, 2024

Verisk’s PCS Classifies CrowdStrike Incident as a Cyber Catastrophe

Insurance Journal

Verisk’s Property Claim Services unit confirmed reports it has designated the recent global information technology outage as a cyber catastrophe event. With the designation, PCS Global Cyber believes what has come to be known as the CrowdStrike...

Posted: Jul 31, 2024

Personal Lines Insurer Adirondack Exchange Withdrawing From New York

Insurance Journal

The New York personal lines carrier Adirondack Insurance Exchange (AIE) is facing financial difficulties and has told its agents and customers that it is working on a transition plan for all existing policies. The insurer urged agents and customers t...

Posted: Jul 31, 2024

Verisk sees consolidated revenues grow 6.2% in Q2 2024

Reinsurance News

Verisk, a global data analytics and technology provider, has reported an increase in its consolidated and organic constant currency (OCC) revenues in the second quarter of 2024, with growth contributions from both underwriting and claims within In...

Posted: Jul 31, 2024

Tampa Bay Rays Are Cleared to Stay in St. Petersburg, Build New Ballpark

Insurance Journal

The Tampa Bay Rays received final approval Tuesday for their proposal to build a new ballpark in St. Petersburg, Florida, capping a years-long process that had clouded the future of the Major League Baseball team. The Pinellas County Commission voted...

Posted: Jul 31, 2024

MAPFRE names Leire Jiménez Group Chief Innovation Officer

Reinsurance News

Global insurer MAPFRE has announced Leire Jiménez is to lead the new phase of MAPFRE Open Innovation as Group Chief Innovation Officer, effective September 1. She will hold her new role concurrently with her current role as CEO of MAWDY, the compa...

Posted: Jul 31, 2024

Swiss Re announces Group CFO succession

coverager

Anders Malmström will succeed John Dacey as Group Chief Financial Officer as of 1 April 2025.

Posted: Jul 31, 2024

Wefox completes two transactions to exit the German market

coverager

These two transactions largely complete the announced exit of Wefox from the German market as part of the ongoing strategic realignment of the group.

Posted: Jul 31, 2024

USAA partners with Aflac

coverager

BHMS is a private investment firm with a specialty in middle market insurance and insurance-related businesses.

Posted: Jul 31, 2024

Liberty Company Names Dall VP and Benefits Producer in Florida

Insurance Journal

The Liberty Company Insurance Brokers has named Chenoa Dall vice president and an employee benefits producer, based in Naples, Florida. Dall, originally from Vermont, was previously with Brown & Brown Insurance and with McGriff Insurance, where s...

Posted: Jul 31, 2024

Talcott Financial Group reveals its first flow reinsurance agreement in Japan

Reinsurance News

Talcott Financial Group, an international life insurance company known for providing extensive risk solutions, has announced a flow reinsurance agreement involving its subsidiary, Talcott Life Re, Ltd., and The Dai-ichi Frontier Life Insurance Co....

Posted: Jul 31, 2024

People Moves: IMA Financial Adds Jacobs as Employee Benefits Executive in New York

Insurance Journal

IMA Financial Group, Inc. has expanded its team in New York City, hiring Shawn A. Jacobs for the newly created role of employee benefits new business client executive. Jacobs serves as an insurance and employee benefits advisor and liaison between &#...

Posted: Jul 31, 2024

Florida Police Union Blasts Prosecutors Over Officer Charges in 2019 Shootout

Insurance Journal

FORT LAUDERDALE, Fla. (AP) — A Florida police union leader blasted prosecutors Monday for bringing a criminal case against four officers over a 2019 shootout with two robbers that left a UPS driver and a passerby dead, saying they had …

Posted: Jul 31, 2024

Boost Insurance secures equity investment from BHMS

Reinsurance News

Boost Insurance, the insurance infrastructure platform, has secured a considerable equity investment from BHMS Investments, LP (BHMS), a private investment firm with a specialty in middle market insurance and insurance-related businesses. Accordin...

Posted: Jul 31, 2024

600-Square-Mile-Plus Wildfire in California Now State’s Fifth Largest on Record

Insurance Journal

The Park Fire near Chico, California, at 609 square miles is now the fifth largest wildfire in history, destroying 277 structures and damaging 29, according to CalFire. The fire covers four counties—Butte, Plumas, Shasta, Tehama—and is 389,791 acres....

Posted: Jul 31, 2024

Storms Bring Flash Floods to Dollywood Amusement Park in Tennessee

Insurance Journal

PIGEON FORGE, Tenn. (AP) — Strong thunderstorms brought flash flooding to Dolly Parton’s Dollywood in east Tennessee. Park workers and the Pigeon Forge police and fire departments directed guests to safety on Sunday afternoon, and one minor inj...

Posted: Jul 31, 2024

Norfolk Southern Reports $156M in Insurance Payments Following Ohio Derailment

Insurance Journal

Norfolk Southern got a boost during the second quarter from insurance payments related to last year’s disastrous East Palestine derailment, but it also made progress in reducing its expenses and getting more efficient. The Atlanta-based railroa...

Posted: Jul 31, 2024

Permit to Rebuild in Flood Zone Allowed Even If Home Is Not Damaged

Insurance Journal

New Jersey property owners do not need to show that their home is damaged or decayed in order to qualify for a flood hazard permit to replace it, a state appeals court has ruled. The court upheld the state Department …

Posted: Jul 31, 2024

Mississippi Grand Jury Declines to Indict Deputy Who Shot Man Yelling ‘Shoot Me’

Insurance Journal

JACKSON, Miss. (AP) — A Mississippi grand jury decided not to bring criminal charges against a sheriff’s deputy who fatally shot a man who was yelling “shoot me,” the state attorney general’s office said Monday. The Hancock Co...

Posted: Jul 31, 2024

AM Best revises outlook for Palomar and subsidiaries to stable

Reinsurance News

AM Best, the global credit rating agency, has revised the outlook to stable from positive and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb-” (Good) of Palomar Holdings, Inc., the insurance holding company a...

Posted: Jul 31, 2024