All Posts

3 People Killed by Faulty Replacement Air Bag Inflators in Last 9 Months: NHTSA

Insurance Journal

A U.S. auto safety regulator said on Wednesday that three people have been killed and two seriously injured in the last nine months by low-cost faulty replacement air bag inflators. The National Highway Traffic Safety Administration urged used car bu...

Posted: Jul 11, 2024

Vermont Under Flood Watch as State Marks Anniversary of Last Year’s Severe Inundations

Insurance Journal

A flood watch was declared for much of Vermont on Wednesday — the anniversary of last summer’s severe flooding — and also Thursday, with heavy rains in the forecast. As Gov. Phil Scott and other officials discussed the recovery from …

Posted: Jul 11, 2024

Vermont Under Flood Watch on Anniversary of Last Year’s Severe Inundations

Insurance Journal

A flood watch was declared for much of Vermont on Wednesday — the anniversary of last summer’s severe flooding — and also Thursday, with heavy rains in the forecast. As Gov. Phil Scott and other officials discussed the recovery from …

Posted: Jul 11, 2024

New Jersey Democratic Power Broker Norcross Pleads Not Guilty to Racketeering

Insurance Journal

The New Jersey Democratic power broker charged with racketeering by the state attorney general pleaded not guilty Tuesday to charges he threatened people whose properties he sought to take over and orchestrated tax incentive legislation to benefit or...

Posted: Jul 11, 2024

Deaths, Injuries, Billions of Dollars are Costs of Extreme Heat in California

Insurance Journal

A blistering California heat wave over the past weeks and through the Fourth of July holiday could be topped off by the hottest temperature ever recorded on Earth. That kind of extreme heat has led to more deaths than wildfires …

Posted: Jul 11, 2024

Deaths, Injuries, Billions of Dollars Are Costs of Extreme Heat in California

Insurance Journal

A blistering California heat wave over the past weeks and through the Fourth of July holiday could be topped off by the hottest temperature ever recorded on Earth. That kind of extreme heat has led to more deaths than wildfires …

Posted: Jul 11, 2024

Vitol, SK Settle California Fuel Rigging Probe for $50 Million

Insurance Journal

California’s attorney general said it reached a $50 million settlement with commodity traders Vitol and SK Energy Americas Inc. after it alleged the firms acted together to manipulate local gasoline markets. It’s the latest instance in wh...

Posted: Jul 11, 2024

Devonshire Underwriting names TR specialist Grant as Underwriting Manager

Reinsurance News

Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk (TR) solutions, has announced the appointment of Michael Grant as Underwriting Manager. Grant brings extensive experience across the transactio...

Posted: Jul 11, 2024

Worsening Floods Pose Threat to U.S. Dam Safety

Carrier Management

Worsening Floods Pose Threat to U.S. Dam Safety Last month, floodwater in rural Minnesota pushed debris...

Posted: Jul 10, 2024

What Agency Staff Like Most About Their Jobs

IA Magazine

The majority of professionals within the insurance industry remain passionate about the industry itself and about helping the people they serve, according to Vertafore report.

Posted: Jul 10, 2024

Ban on Noncompete Agreements Dealt Significant Blow

IA Magazine

Two lawsuits filed seek to block the Federal Trade Commission (FTC) ban on noncompete agreements from taking effect as scheduled on Sept. 4.

Posted: Jul 10, 2024

Capital Insurance Group Migrates Guidewire InsuranceSuite onto Guidewire Cloud

IIR

The insurer seeks to modernize operations, increase agility, reduce cost and stay current on Guidewire’s latest offerings.

Posted: Jul 10, 2024

Charlie.ai and Duck Creek Form Strategic Partnership

IIR

The collaboration will integrate Charlee.ai’s AI technology into Duck Creek Claims to help insurers make more informed decisions, streamline claims processing and reduce costs.

Posted: Jul 10, 2024

P/C Premium Growth Shows Promise, But Profitability at Least a Year Away, Triple-I/ Milliman Report...

Insurance Information Institute

For Immediate Release Triple-I: Loretta Worters, [email protected] Milliman: Jeremy Engdahl-Johnson, [email protected]       NEW YORK, July 11, 2024 – Favorable first-quarter economic and underwriting results for property/casualty in...

Posted: Jul 10, 2024

Hastings Direct and Cambridge Mobile Telematics Announce Five-Year Partnership Renewal

IIR

The companies’ YouDrive collaboration allows customers to reduce the cost of their insurance by sharing their driving data.

Posted: Jul 10, 2024

Openly launches in Virginia

coverager

Openly is now live in 23 states.

Posted: Jul 10, 2024

Handling the Heat of a Medical Malpractice Trial: Sound Advice from ProAssurance’s Experts

Risk & Insurance

Mary-Lynn Ryan and Barbara Hunyady of ProAssurance share their insights on the challenges physicians face during medical malpractice trials, the resources available to them, and the role of risk management in maintaining their professional standin...

Posted: Jul 10, 2024

The Hartford announces leadership successions

coverager

Company names Michael Fish head of Group Benefits and H. Clay Bassett Jr. global chief underwriting officer and head of reinsurance.

Posted: Jul 10, 2024

APOLLO partners with Dream

coverager

Dream has over $25 billion in assets across North America and Europe.

Posted: Jul 10, 2024

Consumer Watchdog Fines Fifth Third Bank $20M for Forced Auto Coverage, Fake Accounts

Carrier Management

Consumer Watchdog Fines Fifth Third Bank $20M for Forced Auto Coverage, Fake Ac...

Posted: Jul 10, 2024

After Period of Stability, U.S. Workers’ Comp Market Faces Emerging Challenges

Risk & Insurance

Swiss Re analysis highlights potential headwinds for U.S. workers' compensation insurers after a decade of strong profitability. The post

Posted: Jul 10, 2024

People Moves: Society Insurance Names Brown to Board of Directors

Insurance Journal

Society Insurance, headquartered in Fond du Lac, Wisconsin, elected Sherman Brown of Chicago as a director at its annual meeting of policyholders. Thomas Gross retired from Society’s board of directors after serving for 27 years. Brown is execu...

Posted: Jul 10, 2024

Chubb Continues Promotion Spree in North American Operations

Insurance Journal

Chubb today announced an additional handful of promotions within its North America insurance operations, with Ana Robic and Ben Rockwell getting appointed senior vice president of Chubb Group. Robic is division president, North America personal risk...

Posted: Jul 10, 2024

Climate change threatens electric grid resilience, urging insurance-backed adaptation: Swiss Re

Reinsurance News

According to Mitali Chatterjee, Insurance Research Manager at Swiss Re, the global reinsurer, climate change is intensifying severe weather events worldwide, significantly impacting the electric grid, emphasising the need of insurance in funding a...

Posted: Jul 10, 2024

Shock Hazard Prompts Recall of Nearly 1M Power Adapters Sold With Baby Sound Machines

Carrier Management

Shock Hazard Prompts Recall of Nearly 1M Power Adapters Sold With Baby Sound Machines Due to a shock hazard, a...

Posted: Jul 10, 2024

Crypto Hacking Thefts Doubled to $1.4B in in First Half of 2024

Carrier Management

Crypto Hacking Thefts Doubled to $1.4B in in First Half of 2024 The amount of cryptocurrency sto...

Posted: Jul 10, 2024

Ford Pro Expands to Minnesota and Maryland

Insurance Journal

Ford Pro is expanding the availability of its commercial auto coverage, Ford Pro Insure, to Maryland and Minnesota. Ford Pro is underwritten by Ford Credit’s insurance subsidiary and powered by Pie Insurance. Minnesota is the first state with a...

Posted: Jul 10, 2024

Tim Banks to lead Aon’s Investment practice

Reinsurance News

Global insurance and reinsurance broker Aon has announced Tim Banks has joined its UK Wealth practice as partner at a time when the company enters its next phase of growth across DB pensions, insurance and not-for-profit organisations. In his new...

Posted: Jul 10, 2024

Markets/Coverages: High-End Home Insurer Openly Enters Virginia

Insurance Journal

Home insurer Openly has begun offering its coverage options to independent insurance agents and their policyholders in Virginia. Already active in 23 states, the upmarket home insurer said it is launching in Virginia with a phased introduction, grant...

Posted: Jul 10, 2024

‘We’re All Going to See the Impact’ – Beryl Could Worsen Texas Insurance Crisis

Insurance Journal

Insurance agent Ian Hartgrove was one of many Houston residents caught off guard by the size of Hurricane Beryl, which made landfall on the Texas Gulf Coast Monday morning. Beryl had weakened to a Category 1 hurricane by the time …

Posted: Jul 10, 2024

Rokstone announces launch of new US Sports & Leisure Casualty division

Reinsurance News

Rokstone, an international specialty (re)insurance MGA within the Aventum Group, has announced the launch of its new Sports & Leisure Casualty division in the United States. Heading this initiative is Charles Landrum, a professional in the US...

Posted: Jul 10, 2024

Direct Line insurance to launch on price comparison websites

coverager

Company names Michael Fish head of Group Benefits and H. Clay Bassett Jr. global chief underwriting officer and head of reinsurance.

Posted: Jul 10, 2024

Increases in Trial Awards, Claims Severity Add to Evidence of Social Inflation: RAND

Risk & Insurance

RAND research of 2010-2019 data suggests social inflation may be on the rise, but says further investigation is needed to confirm the trend is not caused by other factors. The post

Posted: Jul 10, 2024

Tokio Marine HCC Specialty’s Bert Van Wagenen retires, Bouchard becomes SVP

Reinsurance News

Tokio Marine HCC – Specialty Group, part of the Tokio Marine HCC group of companies, has announced the retirement of Bert Van Wagenen, effective July 1, 2024. Van Wagenen, a renowned figure across the industry, has dedicated forty-four years...

Posted: Jul 10, 2024