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Insurance’s AI Equation Doesn’t Work Without Trust

Insurance Thought Leadership

Insurance’s AI Equation Doesn’t Work Without Trust AI & Machine Learning ClareCarroll1

Posted: Jul 13, 2024

Laying the Groundwork for AI

Insurance Thought Leadership

Laying the Groundwork for AI AI & Machine Learning ClareCarroll1

Posted: Jul 13, 2024

Otonomi launches air cargo delay insurance

coverager

This product offers coverage for freight delays of 3 hours.

Posted: Jul 13, 2024

Allstate Seeking 34% Rate Hike on California Homeowners Insurance

Insurance Journal

Allstate is seeking an increase in its California homeowners insurance premiums by an average of 34%. According to the California Department of Insurance, the Allstate homeowners filing was received by the Department on April 14, 2023. The initial ra...

Posted: Jul 12, 2024

How Insurance Fraud Erodes Consumer Trust

Insurance Thought Leadership

How Insurance Fraud Erodes Consumer Trust From Our Partners sradomski

Posted: Jul 12, 2024

Insurers Hike Rates as Extreme Storms Like Beryl Proliferate

Carrier Management

Insurers Hike Rates as Extreme Storms Like Beryl Proliferate Destructive storms like Hurricane Beryl th...

Posted: Jul 12, 2024

P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast

Carrier Management

P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast Favorable first-quarter econom...

Posted: Jul 12, 2024

California Insurance Commissioner OKs Lower Workers’ Comp Benchmark Rate

Insurance Journal

California Insurance Commissioner Ricardo Lara today issued a decreased pure premium rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 to $1.38 per $100 of payroll— representing a 2.1% percent decrease from...

Posted: Jul 12, 2024

Report: Insurers Keen on Replacing Legacy Systems Seek More Agility

Carrier Management

Report: Insurers Keen on Replacing Legacy Systems Seek More Agility Insurance companies are replacing or augmenting l...

Posted: Jul 12, 2024

P/C Premium Growth Likely But Profits Delayed: Forecast

Carrier Management

P/C Premium Growth Likely But Profits Delayed: Forecast Favorable first-quarter economic and unde...

Posted: Jul 12, 2024

Post-Pandemic Shifts Create Risks for Private Company Execs, Certain Business Sectors

Risk & Insurance

Emerging economic, regulatory, and cultural trends pose complex risks for private company directors and officers in the post-pandemic landscape, according to Munich Re. The post

Posted: Jul 12, 2024

People Moves: Leif Assurance Promotes Worden to Sales Manager

Insurance Journal

Leif Assurance, headquartered in St. Louis, promoted Robert Worden to sales manager. Worden will also serve as the commercial lines’ sales manager for Leif’s sister company, Powers Insurance & Risk Management. Worden has 30 years of e...

Posted: Jul 12, 2024

Ex-Red Hot Chili Peppers Guitarist Sued for Wrongful Death in Alleged Fatal Collision

Insurance Journal

Ex-Red Hot Chili Peppers guitarist Josh Klinghoffer is being sued for wrongful death and negligence after allegedly hitting and killing a pedestrian earlier this year. The lawsuit was filed by Ashley Sanchez, the daughter of 47-year-old Israel Sanche...

Posted: Jul 12, 2024

Hurricane Beryl: Insurers See Minimal Impact, Brace for Active Season

Insurance Journal

Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the P&C and reinsurance sectors, Moody’s Ratings said. Beryl made landfall along the Te...

Posted: Jul 12, 2024

Parametrix secures $50m parametric cloud outage coverage for US retail chain

Reinsurance News

Earlier this week, Parametrix, a provider of cloud monitoring, modeling, and insurance services, successfully secured a $50 million parametric cloud outage coverage for a US retail chain. As announced by Parametrix’s Chief Commercial Officer...

Posted: Jul 12, 2024

Customers Frustrated With Insurer Rate Hikes After Extreme Storms

Carrier Management

Customers Frustrated With Insurer Rate Hikes After Extreme Storms Destructive storms like Hurricane Ber...

Posted: Jul 12, 2024

Report: Insurers Keen on Replacing Legacy Systems for More Agility

Carrier Management

Report: Insurers Keen on Replacing Legacy Systems for More Agility Insurance companies are replacing or augmenting le...

Posted: Jul 12, 2024

Kathleen Ziegler Appointed as Chief Operations Officer for AXA XL’s Insurance Business in the Americ...

Risk & Insurance

The latest people news in the industry today. The post Kathleen Ziegler Appointed a...

Posted: Jul 12, 2024

Juan Luis Ortega Succeeds John Lupica as President of North America Insurance at Chubb Limited

Risk & Insurance

The latest people news in the industry today. The post Juan Luis Ortega Succeeds John Lupi...

Posted: Jul 12, 2024

Florida Tax Watch Calls for Renewed Tax Breaks for Home Hardening Efforts

Insurance Journal

Florida Tax Watch, a nonprofit government watchdog in operation for 45 years, is urging state lawmakers to expand wind-mitigation tax breaks for homeowners struggling with higher insurance premiums. The group this week posted an analysis of the Flori...

Posted: Jul 12, 2024

Michael Fish to Succeed Jonathan Bennett as Head of Group Benefits at The Hartford

Risk & Insurance

The latest people news in the industry today. The post Michael Fish to Succeed Jonathan Bennett as Hea...

Posted: Jul 12, 2024

Ships Fleeing the Red Sea Now Face Perilous African Weather

Insurance Journal

Ships sailing around the southern tip of Africa are wrestling with a bout of bad weather that has already run one vessel aground and seen another lose more than 40 containers overboard. CMA CGM SA said on Thursday that its …

Posted: Jul 12, 2024

Christopher Dines named Head of Client Service for Miller’s new real estate team

Reinsurance News

Miller, an independent specialist re/insurance broker, has appointed Christopher Dines as Head of Client Service within a newly created Real Estate team, effective immediately. Dines will be based in London to build out a dedicated global Real Est...

Posted: Jul 12, 2024

What Happened to Reinsurance Class of 2023? Hard Market Defies Age-Old Patterns.

Insurance Journal

Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in turn drove the formation of startup reinsurers to fill capacity needs. Reinsurers launched in “the class of 1992,&#...

Posted: Jul 12, 2024

What Happened to Reinsurance ‘Class of 2023’? Hard Market Defies Age-Old Patterns.

Insurance Journal

Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in turn drove the formation of startup reinsurers to fill capacity needs. Reinsurers launched in “the class of 1992,&#...

Posted: Jul 12, 2024

Abbott Accused at Trial of Hiding Fatal Risk of Infant Formula

Insurance Journal

Abbott Laboratories hid the risks of its premature-infant formula causing a potentially fatal bowel disease from parents even though company officials acknowledged the peril in internal documents, a lawyer told a Missouri jury. The company was accuse...

Posted: Jul 12, 2024

ACORD’s Global Insurance Stock Index shows robust reinsurance performance in Q2

Reinsurance News

ACORD, the standards-setting body for the global insurance industry, has announced that its Global Insurance Stock Index outperformed the broader market for the second consecutive quarter in a row, delivering a return of 28.9% compared to the worl...

Posted: Jul 12, 2024

Insurers Hike Rates as Extreme Storms Like Beryl Proliferate, Bringing Forecasts for Fatter Profits

Insurance Journal

Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas are growing more frequent and intense, and insurers are jacking up rates in response. That could mean big profits for property and casualty &#82...

Posted: Jul 12, 2024

Insurers Hike Rates as Extreme Storms Like Beryl Proliferate

Insurance Journal

Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas are growing more frequent and intense, and insurers are jacking up rates in response. That could mean big profits for property and casualty &#82...

Posted: Jul 12, 2024

Hurricane Beryl’s Remnants Spawn Severe Storms in Midwest and Northeast

Insurance Journal

INDIANAPOLIS (AP) — The remnants of Hurricane Beryl dropped tornadoes and threatened flooding Wednesday as the system churned into Canada and the northeastern U.S. after leaving millions in the Houston area without power. Beryl, which landed in Texas...

Posted: Jul 12, 2024

Texas Steel Plant Fined $269K for Endangering Workers

Insurance Journal

Two years after the U.S. Department of Labor added Kyoei Steel LTD to its program for severe violators of federal safety and health regulations, inspectors returned for a follow-up inspection at the Vinton, Texas steel fabrication and recycling facil...

Posted: Jul 12, 2024

Half a Million Will Be Under Houston Outages a Week After Beryl

Insurance Journal

Days after Hurricane Beryl crashed through the city, Houston is still grappling with the aftershocks. Large swaths of America’s fourth-largest city are still without power, shutting stores and snarling traffic at non-functioning lights. Gas sta...

Posted: Jul 12, 2024

Chubb makes new appointments and reorganises its LatAm region

Reinsurance News

Property and casualty (P&C) insurer Chubb has announced a number of new leadership appointments, including Ana Robic and Ben Rockwell as Senior Vice President, Chubb Group. Robic is the current Vice President, Chubb Group and Division Presiden...

Posted: Jul 12, 2024

Lawsuit Against West Virginia Troopers Settled in Death of Maryland Man

Insurance Journal

CHARLESTON, W.Va. (AP) — A judge approved a $1 million settlement Tuesday in a wrongful death lawsuit that accused West Virginia state police troopers of using excessive force on a Maryland man who was walking along a highway last year. …

Posted: Jul 12, 2024

Securian Financial launches surplus lines insurance company

coverager

Securian Financial is a provider of insurance and other protection products to more than 6,000 financial institutions and associations in the US and Canada.

Posted: Jul 12, 2024

Wrisk Europe establishes Advisory Board

coverager

Wrisk is a provider of embedded insurance solutions for Automotive OEMs.

Posted: Jul 12, 2024

Allianz Trade partners with BPL

coverager

BPL is a specialist credit and political risk insurance broker.

Posted: Jul 12, 2024