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JACKSONVILLE, Fla. (AP) — The city of Jacksonville approved a $1.4 billion “stadium of the future” Tuesday that should keep the Jaguars in one of the NFL’s smallest markets for at least another 30 years and end decades of speculatio...
Posted: Jun 27, 2024
Mitsui Sumitomo Insurance (MSI) has revealed plans to consolidate the talent and strength of its European subsidiaries, MS Amlin Insurance S.E. (MSAISE) and MSIG Insurance Europe AG (MSIGEU), in a merger of equals. According to MSI, which wholly o...
Posted: Jun 27, 2024
Hackers behind a London hospital attack recently published records that include personal information about pregnant women, newborns, cancer patients, people suffering from schizophrenia and thousands of others across the UK and Ireland, revealing the...
Posted: Jun 27, 2024
Specialty insurer Tokio Marine Kiln (TMK) has appointed Alexandra (Alex) Barnes to its Marine & Energy team, starting this autumn. In the new role, she will be focusing on global energy risks and renewables. Barnes is an insurance industry vet...
Posted: Jun 27, 2024
This edition of International People Moves details appointments at Brit Re and the managing general agent Optio Group. A summary of these new hires follows here. Brit Re Names Partner Re’s Ex-CEO Bonneau as Non-Executive Director Brit Ltd. anno...
Posted: Jun 27, 2024
In an interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager for Cyber Risks at Munich Re, emphasised that cyber warfare exceeds the company’s risk appetite, nonetheless, the firm is actively collaborating with governments to e...
Posted: Jun 27, 2024
Insurance Business Magazine - US
Posted: Jun 27, 2024
Securian Financial, a mutual holding company that provides a range of financial products and services, has launched Securian Specialty Lines, Inc., a new surplus lines insurance company, to provide additional innovative insurance solutions to fina...
Posted: Jun 27, 2024
The U.S. Chemical Safety and Hazard Investigation Board (CSB) issued its final investigation report into the fatal naphtha release and fire at the BP-Husky Toledo Refinery (“BP Toledo Refinery”) in Oregon, Ohio, on September 20, 2022, whi...
Posted: Jun 27, 2024
MUSKEGON, Mich. (AP) — Severe thunderstorms cut power to thousands of homes and businesses Tuesday in western Michigan, less than a week after storms left thousands in the dark across the state in suburban Detroit. Roughly 98,000 Consumers Energy cus...
Posted: Jun 27, 2024
Optio Group, a specialty managing general agent (MGA), has named Deepak Soni as its new Chief Executive Officer (CEO), a long-anticipated and carefully considered appointment by the company’s board and its private equity partners, Preservation Cap...
Posted: Jun 27, 2024
In the complex landscape of middle market business operations, risk management stands as a watch guard, protecting employees and organizations from the unforeseen and the preventable. Yet many leaders still don’t think about risk management as a k...
Posted: Jun 27, 2024
The world’s leading marketplace for insurance and reinsurance, Lloyd’s, has unveiled a new Canadian Core Fixed Income Solution on the Lloyd’s Investment Platform. According to Lloyd’s, the new fund is designed to enhance investment outcomes...
Posted: Jun 27, 2024
Arthur J. Gallagher & Co.’s captive and alternative risk transfer solutions subsidiary, Artex, has acquired London-based Implement Compliance Solutions & Resources Ltd. (ICSR). Terms of the transaction were not disclosed. ICSR provides...
Posted: Jun 27, 2024
Arthur J. Gallagher & Co.’s captive and alternative risk transfer solutions subsidiary, Artex, has acquired London-based Implement Compliance Solutions & Resources Ltd. (ICSR). Terms of the transaction were not disclosed. ICSR provides...
Posted: Jun 27, 2024
The Ardonagh Group has confirmed that it has completed the merger between its personal lines broking business Atlanta Group and Markerstudy. If you recall, it was in September last year that the merger was first announced. The deal will see both A...
Posted: Jun 27, 2024
Sanctions on shipping companies are undermining safety at sea and pose dangers for trade as ship standards are impacted, the chief executive of sanctioned Russian shipping group Sovcomflot said. The European Union imposed sanctions on Russia’s...
Posted: Jun 27, 2024
Brit Ltd has appointed Jacques Bonneau to the Board of Brit Re as a Non-Executive Director, subject to regulatory approval. Brit noted that Bonneau will bring considerable experience, insight and relationships to the firm as it embarks on a strate...
Posted: Jun 27, 2024
Markel, the insurance operations arm within the Markel Group Inc., has appointed Phil Schmidt as Chief Strategy Officer, effective immediately. Schmidt’s remit in the role will include leading Markel’s Global Strategy team, based in Be...
Posted: Jun 27, 2024
Supercede, a reinsurance tech firm, has completed a $15 million Series A funding round, led by Alven with contributions from Mundi Ventures along with an existing investor roster that included Outward, Seedcamp, MMC Ventures, and AFG Partners. The...
Posted: Jun 27, 2024
Morningstar DBRS, a global credit rating agency, emphasises that cyber insurance is rapidly growing and essential in the digital age, projected to soar to $40 billion by decade’s end amidst rising cyber threats and stringent data regulations...
Posted: Jun 27, 2024
The insurance market in the UK is experiencing significant upheaval as Allianz and AXA, two global insurers, implement substantial rate hikes, according to a recent report by Bloomberg Intelligence (BI), a provider of financial analysis and resear...
Posted: Jun 27, 2024
The International Underwriting Association (IUA), which represents companies in the London insurance market, has published the details of a dedicated company market support programme for adopting the new digital processing services in the London m...
Posted: Jun 27, 2024
Venezuela’s state oil company PDVSA has begun using tankers that navigate off radar to supply its closest political ally, Cuba, as a fleet of state-owned vessels that have historically covered the route dwindles, according to documents and ship...
Posted: Jun 27, 2024
The Mutual Group, an integrated insurance operations platform serving the mutual industry, recently announced the appointment of Brett Humphrey as Senior Vice President (SVP) & Chief Financial Officer (CFO). Humphrey, who has nearly 20 years o...
Posted: Jun 27, 2024
Volkswagen said on Wednesday it was recalling over 307,000 vehicles in North America due to a potential wiring fault that may deactivate front passenger air bags when the seat is occupied. The recall covers 271,000 2021-2024 model year Atlas and R...
Posted: Jun 27, 2024
Even though direct loss ratios for commercial auto and other liability lines rose in first-quarter 2024, across all lines U.S. property/casualty insurers posted a net combined ratio of 94—the best since first-quarter 2007. Translating to an aggregate...
Posted: Jun 27, 2024
Even though direct loss ratios for commercial auto and other liability lines rose in first-quarter 2024, across all lines U.S. property/casualty insurers posted a net combined ratio of 94—the best since first-quarter 2007. Translating to an aggregate...
Posted: Jun 27, 2024
Britain’s markets regulator will publish an update in autumn into how companies are detecting and dealing with sexual harassment, bullying and other non-financial misconduct, a senior official said on Wednesday. Steve Smart, the joint head of e...
Posted: Jun 27, 2024
The regulation that sets up the European Union’s new agency to combat money laundering went into force on Wednesday, and the authority already has its first job posting: the position of chair. Candidates have until July 8 to apply to …
Posted: Jun 27, 2024
Wefox Holding AG is replacing Chief Executive Officer Mark Hartigan after the German insurance tech startup’s board rejected a proposal by its largest stakeholder, Mubadala Investment Co., that he backed to sell the company. Hartigan, who took...
Posted: Jun 27, 2024
The Kentucky Department of Insurance has a new vendor on continuing education and prelicensing services: PSI Services. Prometric, the previous vendor, is no longer accepting education course and instructor reviews, the DOI said in a bulletin. Provide...
Posted: Jun 27, 2024
Verizon Wireless has agreed to pay a $1 million penalty levied by the Federal Communications Commission after a 2022 service outage left people across the Southeast unable to call 911. “Today’s action is part of the FCC’s ongoing ef...
Posted: Jun 27, 2024
Maryland Governor Wes Moore has appointed an interim commissioner at the helm of the Maryland Insurance Administration (MIA). Moore named Joy Y. Hatchette as interim insurance commissioner at MIA. The current commissioner, Kathleen Birrane, previousl...
Posted: Jun 27, 2024
Maryland Governor Wes Moore has appointed an interim commissioner at the helm of the Maryland Insurance Administration (MIA). Moore named Joy Y. Hatchette as interim insurance commissioner at MIA. The current commissioner, Kathleen Birrane, previousl...
Posted: Jun 27, 2024
More than 1,000 residential properties in New Mexico may have been damaged or destroyed by wildfires in New Mexico, according to property data firm CoreLogic. “Multiple, active wildfires in south-central New Mexico potentially impacted approxim...
Posted: Jun 27, 2024
More than 1,000 residential properties in New Mexico may have been damaged or destroyed by wildfires in New Mexico, according to property data firm CoreLogic. “Multiple, active wildfires in south-central New Mexico potentially impacted approxim...
Posted: Jun 27, 2024
The California FAIR Plan Association will expand its clearinghouse to include commercial policies, such as those covering farms and condos, beginning July 1. The move follows the passage of Senate Bill 505 in 2023. California Insurance Commissioner R...
Posted: Jun 27, 2024
SLC Management, the global institutional asset manager, has launched SLC Global Insurance Group, a dedicated team that will focus on servicing the complex needs of insurance organisations across the globe with bespoke investment solutions. Brett L...
Posted: Jun 27, 2024
DuPont, 3M, Honeywell and 16 other defendants were sued on Tuesday by Connecticut firefighters who said their protective gear was contaminated by toxic “forever chemicals” linked to cancer. Lawyers for the plaintiffs said they believed th...
Posted: Jun 27, 2024
A bill to create a state landslide insurance program for homeowners in Pennsylvania has been advanced by a House committee. The House Environmental Resources and Energy Committee voted 20-5 to move the bill to the full chamber. The measure would R...
Posted: Jun 27, 2024
Dellwood Insurance Group has filed to dismiss a lawsuit filed against it by American International Group, who it says is using the court system “as a cudgel to crush a fledgling startup.” According to the motion filed last week in …
Posted: Jun 26, 2024
HDFC ERGO General Insurance has recently announced that Anuj Tyagi will be the new Managing Director and Chief Executive Officer (CEO), effective July 1, 2024. Tyagi will be succeeding Ritesh Kumar, who served as the company’s Managing Director an...
Posted: Jun 26, 2024