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Hub International Ltd., the global insurance brokerage and financial services firm, has expanded again with the acquisition of Wyatt Insurance Services in Tennessee. With offices in Knoxville and Clarksville, Wyatt is an independent agency specializi...
Posted: Jul 10, 2024
Chubb said David Lupica, currently chief operating and distribution management officer at Westchester, has been named vice president of Chubb Group and division president of Westchester. Lupica will have executive operating responsibility for Chubb&#...
Posted: Jul 10, 2024
Gallagher Names Eaton Exec Director to Support US Cargo Gallagher appointed of Jonathan Eaton to executive director, responsible for overseeing wholesale to other non-specialist brokers and working with Gallagher offices in the U.S. to support cargo...
Posted: Jul 10, 2024
Direct Line will launch its eponymous motor insurance brand on price comparison websites for the first time, it said on Wednesday, as the company’s new CEO implemented a strategy shift designed to win new business. Adam Winslow, who took over &...
Posted: Jul 10, 2024
Inmates at New York City’s Rikers Island are suing the city claiming they were trapped in their cells during a jailhouse fire that injured 20 people last year. The lawsuit filed Friday in federal court in Manhattan said the 15 …
Posted: Jul 10, 2024
US Representative Adam Schiff, a California Democrat who’s running for the Senate, is vowing to take another shot at reining in soaring home insurance rates that he says are “gouging” his constituents. To do so, Schiff is casting a...
Posted: Jul 10, 2024
Novatae Risk Group, a wholesale insurance brokerage, managing general agency, and program manager, has announced its acquisition of Denali Specialty Group’s assets. Founded in 2019, Denali Specialty Group is a full-service insurance intermed...
Posted: Jul 10, 2024
Chubb Shakes Up North American Insurance Leadership Chubb s...
Posted: Jul 10, 2024
Montana’s top court is set to hear the state’s appeal of a landmark ruling holding that it was violating the rights of young people to a clean and healthful environment by barring regulators from considering the impacts on climate change...
Posted: Jul 10, 2024
COLUMBIA, Mo. (AP) — An assistant fire chief in central Missouri died early Monday when the boat he was in capsized during a water rescue in a flash flood. The Boone County Fire Protection District said Matthew Tobben and another …
Posted: Jul 10, 2024
Property and casualty insurer, The Hartford has announced the appointment of Michael Fish, the current chief operating officer for Group Benefits, as the new head of Group Benefits. He will succeed Jonathan Bennett, who will retire at the end of 2...
Posted: Jul 10, 2024
RALEIGH, N.C. (AP) — In a legal fight involving two health insurance companies seeking to manage North Carolina’s public employee benefits plan, a judge ruled Monday that the plan’s board acted properly when it switched to Aetna and dropp...
Posted: Jul 10, 2024
Keri-Jon Wilson started as a hobbyist, making medical marijuana edibles on a small scale for patients suffering from chronic pain and cancer. But in 2015 she expanded her business, Portland-based Pot + Pan Manufacturing, and began to standardize her...
Posted: Jul 10, 2024
SageSure, Anchor Re, and SureChoice Underwriters Reciprocal Exchange (SURE) have announced the closing of the Gateway Re 2024-4 catastrophe bond at $60 million—20% higher than the original $50 million target. This marks the eighth transaction in t...
Posted: Jul 10, 2024
Purdue Pharma on Tuesday received U.S. court approval for a 60-day freeze on lawsuits against its owners, members of the wealthy Sackler family, in its first court appearance since a landmark Supreme Court ruling upended its bankruptcy settlement. U....
Posted: Jul 10, 2024
Assured Guaranty Municipal Corp. (AGM), an Assured Guaranty Ltd. subsidiary that provides financial guarantees for municipal bonds, will merge with Assured Guaranty Inc. (AG), a company that offers financial guarantees and credit enhancement produ...
Posted: Jul 10, 2024
PricewaterhouseCoopers LLP is cutting staff across its China operations, according to people familiar with the matter, after an exodus of corporate clients diminished the accounting firm’s revenue prospects in the country. At least 100 staffers...
Posted: Jul 10, 2024
Lloyd’s syndicate AEGIS London has established a new Data Science and Analytics team to enhance underwriting capabilities and data-driven initiatives, Led by Giuseppe D’Angelo, Head of Data Analytics and Portfolio Underwriting. The new...
Posted: Jul 10, 2024
Insurance Business Magazine - US
Posted: Jul 10, 2024
Business Email Compromise (BEC), a form of phishing that involves attackers manipulating individuals into unintentionally facilitating fraudulent activities, an often overlooked cyber threat, is considered to be one of the most financially damagin...
Posted: Jul 10, 2024
James River Group Holdings, a Bermuda-based insurance holding company, has announced the appointment of industry veteran Christine LaSala to its Board of Directors as an independent, non-executive member. With LaSala’s appointment, the Board...
Posted: Jul 10, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has entered into a definitive agreement to acquire The Horton Group, Inc., a full-service insurance brokerage based in Illinois, US. Horton, which was founded in 1971, offers property and casualty insu...
Posted: Jul 10, 2024
BMS Re, the reinsurance division of global broker BMS Group, has announced the appointment of Farah Nelson as Chief Financial Officer (CFO) in the US and as a new member of the company’s Board, based in New York. In her new role, Nelson will direc...
Posted: Jul 10, 2024
Aviva has completed the acquisition of Probitas Holdings (Bermuda) Limited for a consideration of £249 million, marking the firm’s entry into the Lloyd’s market. If you recall, back in March, it was revealed that Aviva would acquire 100% of Probit...
Posted: Jul 10, 2024
Global insurance and reinsurance broker Aon has appointed Marguerita Silitonga as President Director of Reinsurance Solutions in Indonesia, effective immediately, based in Jakarta. Silitonga will have a reporting line to Musa Adlan, Executive Dire...
Posted: Jul 10, 2024
Global reinsurer MAPFRE RE has appointed Alberto Estevez Allegue as Chief Representative Officer of its Representative Office in Tokyo, Japan, effective 1 July 2024. Allegue began his MAPFRE career in 2012 at MAPFRE Asistencia’s MAPFRE Warranty Ja...
Posted: Jul 10, 2024
Global reinsurer MAPFRE RE has appointed Alberto Estevez Allegue as Chief Representative Officer of its Representative Office in Tokyo, Japan, effective 1 July 2024. Estevez began his MAPFRE career in 2012 at MAPFRE Asistencia’s MAPFRE Warranty Ja...
Posted: Jul 10, 2024
Citizens Property Insurance Corporation, Florida’s property insurer of last resort, has confirmed that it bought a lot less reinsurance than the $5.5 billion target announced back in April, securing a “cost-efficient” risk transfer pro...
Posted: Jul 10, 2024
Posted: Jul 10, 2024
Leaders across the Caribbean were still tallying the financial toll wrought by the earliest Atlantic storm on record to intensify to the maximum Category 5 level, after it left a trail of destruction on Jamaica and islands of the eastern …
Posted: Jul 10, 2024
Bermuda-domiciled insurance holding company, James River Group Holdings, has announced that two of its principal subsidiaries have entered into a combined loss portfolio transfer (LPT) and adverse development cover (ADC) reinsurance agreement with...
Posted: Jul 10, 2024
Regular blood tests are critical for 46-year-old Londoner Amit Sanchadev, who relies on dialysis to keep him alive after his only functioning kidney failed in 2016. He wakes up at 6 a.m. three times a week to plug himself into …
Posted: Jul 10, 2024
Costero Brokers, a privately held London-based insurance brokerage, has appointed Stephanie Bush to its Board of Directors, emphasising the firm’s commitment to assembling a diverse and seasoned board focused on progress. Bush has deep exper...
Posted: Jul 10, 2024
Incline P&C Group, headquartered in Austin, Texas, appointed Scott Galiardo as chief actuary and chief underwriting officer for commercial and specialty lines and Tony Urban as the chief development officer. In this newly created role, Galiardo w...
Posted: Jul 10, 2024
Incline P&C Group, headquartered in Austin, Texas, appointed Scott Galiardo as chief actuary and chief underwriting officer for commercial and specialty lines and Tony Urban as the chief development officer. In this newly created role, Galiardo w...
Posted: Jul 10, 2024
Canada’s top property and casualty insurers have invested more than C$19.5 billion ($14.30 billion) in fossil fuels production at a time when climate change is driving up risks for the industry, according to a report by a shareholder advocacy g...
Posted: Jul 10, 2024
Verisk, the global data analytics and technology provider, has launched ISO Experience Index, a tool which is designed to modernise how actuaries in the insurance industry analyze risk patterns. According to the announcement, the tool will address...
Posted: Jul 10, 2024
New England Asset Management, Inc. (NEAM), a provider of insurance investment solutions, announced a strategic partnership with Nassau Financial Group (Nassau), a diversified financial services firm. Through this collaboration NEAM will manage Nas...
Posted: Jul 10, 2024
Property and casualty (P&C) insurer Chubb has announced a number of new appointments, including Paul McNamee’s as Executive Vice President, Chubb Group and President of Overseas General Insurance. With nearly three decades of insurance industr...
Posted: Jul 10, 2024
Insurance broker TWFG, backed by reinsurer RenaissanceRe, said on Tuesday it is aiming to raise as much as $176 million in its initial public offering in the United States. TWFG is offering 11 million shares at a price range of …
Posted: Jul 10, 2024
Leading carriers and managing general agents (MGAs) are increasingly seeking to assess their premium income via audits to ensure exposures are reported accurately, while tackling potential premium leakage and addressing possible non-compliance with s...
Posted: Jul 10, 2024
Marsh McLennan Agency said it has a definite agreement to buy Illinois-based brokerage The Horton Group, Inc. Terms were not disclosed. The deal is expected to close during the third quarter 2024. “We have been impressed by the Horton team R...
Posted: Jul 10, 2024
Hurricane Beryl got the respected team of researchers at Colorado State University to rethink its forecast for the Atlantic hurricane season, which has already seen three named storms. CSU’s Department of Atmospheric Science now calls for an &#...
Posted: Jul 10, 2024
Federal prosecutors want former Georgia Insurance Commissioner John Oxendine to serve 44 months in prison and pay $700,000 in restitution after his guilty plea to health care fraud conspiracy. But Oxendine is urging the judge to reduce the penalty. &...
Posted: Jul 10, 2024