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This edition of International People Moves details appointments at HDI Global and AXA XL. A summary of these new hires follows here. HDI Global Canada Promotes Navarrete to Managing Director HDI Global Canada announced the appointment of Klaus Navarr...
Posted: Jul 01, 2024
Hong Kong’s risk-based capital (RBC) regime for the insurance industry has officially come into operation as of July 1, 2024. This follows the enactment of the Insurance (Amendment) Ordinance 2023, along with related subsidiary legislation and new...
Posted: Jul 01, 2024
DETROIT (AP) — The city of Detroit has agreed to pay $300,000 to a man who was wrongly accused of shoplifting and also change how police use facial recognition technology to solve crimes. The conditions are part of a lawsuit …
Posted: Jul 01, 2024
Arthur J. Gallagher & Co. announced the acquisition of Katy, Texas-based Zayla Partners, LLC (Zayla). Terms of the transaction were not disclosed. Zayla is an executive compensation strategy firm that serves clients across a variety of sizes and...
Posted: Jul 01, 2024
The Fidelis Partnership and Fidelis Insurance Group have confirmed that Syndicate 3123 (The Fidelis Partnership Syndicate) has formally begun underwriting business at Lloyd’s. The Fidelis Partnership Syndicate was first announced in March of this...
Posted: Jul 01, 2024
Ryan Specialty Holdings, Inc., an international specialty insurer, has announced that its Board of Directors has unanimously approved a leadership succession plan to be implemented on October 1st, 2024. Under this plan, Patrick G. Ryan, the Founde...
Posted: Jul 01, 2024
Patrick G. Ryan, the company’s Founder, Chairman, and Chief Executive Officer, will transition to the role of Executive Chairman.
Posted: Jul 01, 2024
BHSI’s Nordic office will underwrite Executive & Professional Lines, General Property, Energy, and Construction.
Posted: Jul 01, 2024
Insurance Business Magazine - US
Posted: Jul 01, 2024
Facial Recognition Startup Clearview AI Settles Privacy Su...
Posted: Jul 01, 2024
Nearly a year after wind-whipped flames raced through Kim Ball’s Hawaii community, the empty lot where his house once stood is a symbol of some of the progress being made toward rebuilding after the deadliest U.S. wildfire in more than …
Posted: Jul 01, 2024
Nearly a year after wind-whipped flames raced through Kim Ball’s Hawaii community, the empty lot where his house once stood is a symbol of some of the progress being made toward rebuilding after the deadliest U.S. wildfire in more than …
Posted: Jul 01, 2024
The Fidelis Partnership and Fidelis Insurance Holdings Ltd. jointly announced that Syndicate 3123 has formally begun underwriting business at Lloyd’s. Syndicate 3123, also known as The Fidelis Partnership Syndicate, was launched by The Fidelis...
Posted: Jul 01, 2024
BOSTON (AP) — Drivers for Uber and Lyft will earn a minimum pay standard of $32.50 per hour and will be eligible for occupational accident insurance paid by the companies for up to $1 million for work-related injuries under a …
Posted: Jul 01, 2024
Previsico's hydrodynamic modeling and onsite sensors predict localized flash floods, helping insurers and customers manage risk more effectively The post
Posted: Jul 01, 2024
Previsico's hydrodynamic modeling and onsite sensors predict localized flash floods, helping insurers and customers manage risk more effectively The post
Posted: Jul 01, 2024
J.C. Flowers & Co. LLC recently announced the successful sale of Vericity to iA American Holdings, a subsidiary of iA Financial Corporation. In October 2023, Vericity entered into a definitive merger agreement with iA American Holdings for an...
Posted: Jul 01, 2024
A minivan slammed into a Long Island nail salon Friday, killing four and injuring nine people inside the business at the time, a Suffolk County fire official said. The vehicle came to a stop at the back of the Hawaii …
Posted: Jul 01, 2024
As per Gallagher Re’s latest mid-year renewals report, market softening in Florida levelled off and firmed as capacity became less abundant closer to June 1, ultimately leaving risk-adjusted rates on most programs either flat or down by as m...
Posted: Jul 01, 2024
Cyber insurance premiums are falling globally as businesses become more adept in curbing their losses from cybercrime, even as ransomware attacks are rising, broker Howden said in a report on Monday. Insurance premiums to protect companies against cy...
Posted: Jul 01, 2024
Markerstudy, the UK insurance group, has completed the purchase of the Ardonagh Group’s personal lines broking business, Atlanta Group, in a deal that was first announced in September 2023. While financial details of the transaction were not di...
Posted: Jul 01, 2024
Ryan Specialty Holdings, Inc. said company founder, chairman and chief executive Patrick G. Ryan will move to an executive chairman role and Timothy W. Turner will take over as will become CEO. Turner is currently president of Ryan Specialty and R...
Posted: Jul 01, 2024
Pacific Catastrophe Risk Insurance Company (PCRIC) has announced the appointment of Richard Poulter as the company’s new Chief Risk Officer, effective July 1, 2024. In his new role, Poulter will be responsible for ensuring executive manageme...
Posted: Jul 01, 2024
Pacific Catastrophe Risk Insurance Company (PCRIC) has announced the appointment of Richard Poulter as the company’s new Chief Risk Officer, effective July 1, 2024. In his new role, Poulter will be responsible for ensuring executive manageme...
Posted: Jul 01, 2024
This has been a year of insurance sticker shock in the US. But the man who provides insurance to insurers thinks maybe the shock still isn’t enough to steer people away from risk in a changing climate. “There is not …
Posted: Jul 01, 2024
Cyber risk solution company Resilience has doubled the cyber insurance limits it can offer to clients in the US to $20 million per client. The agreement to expand Resilience’s limit capability was reportedly brokered by Lockton Re and utilis...
Posted: Jul 01, 2024
More than half of U.S. homeowners did not check their roofs for issues between February 2023 and 2024, according to a recent report by The Hanover Insurance Group. Only 38% of survey respondents reported checking for roof issues — including …
Posted: Jul 01, 2024
Argenta Holdings Ltd, a subsidiary of Hannover Re, has recently announced the immediate closure of the Sydney office of its Service Company, Argenta Underwriting Asia Pte Ltd, which operates on the Lloyd’s Australia platform. Following a review of...
Posted: Jul 01, 2024
The reinsurance market was fairly stable heading into the July 1st, 2024, renewals, and is now more balanced than it was a year ago, although reinsurers are holding the line on retentions, according to James Vickers, Chairman, Gallagher Re Interna...
Posted: Jul 01, 2024
Zurich-based catastrophe insurance data provider PERILS AG, has provided a third update on the insured loss estimate for the Australia Christmas storms which impacted the states of Victoria, New South Wales, and Queensland during the period of 23...
Posted: Jul 01, 2024
Hurricane Beryl, described by forecasters as “extremely dangerous,” is set to cause massive damage across the Caribbean’s Windward Islands on Monday. Beryl’s winds roared across the region at 120 miles (195 kilometers) per hou...
Posted: Jul 01, 2024
Howden, the insurance intermediary group, has released its fourth annual cyber report, “Risk, Resilience and Relevance,” noting market stabilisation last year due to improved cyber hygiene following a surge in ransomware claims in 2020...
Posted: Jul 01, 2024
Captain Rahul Khanna, global head of marine risk consulting, Allianz Global Corporate & Specialty, sat down with Risk & Insurance® to talk about current market trends impacting the marine industry. The post
Posted: Jul 01, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has appointed Kai Kuklinski as Regional Manager, Northern Europe and Country Manager for Germany (Branch Manager of XL Insurance Company SE’s German b...
Posted: Jul 01, 2024
Zurich Insurance Group and Aon have launched a clean energy insurance facility, providing comprehensive coverage globally for blue and green hydrogen projects with capital expenditures of up to USD 250 million. With Zurich as the lead insurer and...
Posted: Jul 01, 2024
This post is part of a series sponsored by IAT Insurance Group. This episode reveals three factors causing havoc on the trucking industry, particularly for independent truckers, and how they should balance cost-cutting measures while being adequately...
Posted: Jul 01, 2024
Africa Specialty Risks (ASR), the pan-African and Middle East focused reinsurance group, is opening an office in Dubai, its first in the Middle East, to be located within the Dubai International Financial Centre (DIFC). ‘ASR Middle East’, will be...
Posted: Jul 01, 2024
Microsoft Corp. has told more than a dozen state agencies and public universities in Texas that Russian state-sponsored hackers accessed emails between them and the software giant. The attackers were able to gain access to the communications through...
Posted: Jul 01, 2024
The mid-year reinsurance renewals reflected a transitioning marketplace which responded to increased demand for protection, as numerous headwinds continued to shift risk appetites, according to Guy Carpenter, the reinsurance broking arm of Marsh M...
Posted: Jul 01, 2024
As per a new report from Gallagher Re, buyers of property catastrophe reinsurance have been able to negotiate better terms and conditions on their contracts in 2024 due to the “risk on” approach taken by reinsurers. The reinsurance bro...
Posted: Jul 01, 2024
Sophos, a provider of cybersecurity solutions, released findings from its recent survey, showing that 76% of companies enhanced their cyber defences to qualify for cyber insurance. The report found that 97% of companies with a cyber insurance poli...
Posted: Jul 01, 2024
InsurX, a digital exchange with algorithmic capacity, has announced the appointment of four new hires to its team to meet burgeoning demand from brokers and underwriters for algorithmic underwriting. Appointed Divisional Director, David Dickson br...
Posted: Jul 01, 2024