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Ascot names Michael Sevi as Group General Counsel

Reinsurance News

Ascot Group Limited, the Bermuda-domiciled global specialty insurer, has appointed Michael Sevi as Ascot Group General Counsel, reporting to Group Chief Executive Officer and President, Jonathan Zaffino. Simultaneously, the insurer has also promot...

Posted: Jun 25, 2024

Shaun Russ appointed Head of Crisis Management, London Market at Tokio Marine HCC

Reinsurance News

Tokio Marine HCC (TMHCC) – Specialty Group, a division of the Tokio Marine HCC group, has announced the appointment of Shaun Russ as Head of Crisis Management for the London Market. This announcement coincides with Mark Hutton’s promotion to...

Posted: Jun 25, 2024

Roller Coaster Strikes Man in Restricted Area of Ohio Theme Park

Insurance Journal

CINCINNATI (AP) — A man who apparently entered a restricted area to retrieve his lost keys at a theme park in Ohio was critically injured when he was struck by a steel roller coaster, police and park officials said. The …

Posted: Jun 25, 2024

EU Adds 27 Russian Vessels to List of Entities Under Sanctions

Insurance Journal

The European Union will add 27 vessels, including oil and liquefied natural gas tankers, to its list of entities under sanctions as part of its latest measures against Russia, two sources familiar with the matter said on Monday. EU countries …

Posted: Jun 25, 2024

Concirrus unveils sanctions module to complete launch of Quest One platform

Reinsurance News

Concirrus, a provider of AI-powered marine insurance intelligence, has unveiled a sanctions module to complete the development and launch of its Quest One platform. Concirrus’ latest sanctions module provides the marine market’s first and only com...

Posted: Jun 25, 2024

Direct Line Group appoints Maz Bown as new Group Chief Risk Officer

Reinsurance News

UK-based insurer Direct Line Group (DLG) has recently announced the appointment of Maz Bown to the position of Chief Risk Officer. Her appointment will take effect at the end of 2024, further strengthening DLG’s new management team. In her new rol...

Posted: Jun 25, 2024

Dellwood Specialty Gets A- Rating From AM Best

Insurance Journal

Dellwood Specialty Insurance Company has received a financial strength rating of A- (Excellent) from AM Best. The industry rating agency said the rating as given due to Dellwood’s “very strong” balance sheet strength as well as othe...

Posted: Jun 25, 2024

Federal Judge Blocks Biden Wage Rule for Construction Projects

Insurance Journal

A federal judge on Monday temporarily blocked a Biden administration rule expanding the cases in which construction contractors are required to pay workers prevailing wages that apply to $200 billion of federally funded infrastructure projects. U.S....

Posted: Jun 25, 2024

Music Labels Sue AI Companies Suno, Udio for Copyright Infringement

Insurance Journal

Major record labels Sony Music, Universal Music Group and Warner Records sued artificial intelligence companies Suno and Udio on Monday, accusing them of committing mass copyright infringement by using the labels’ recordings to train music-gene...

Posted: Jun 25, 2024

Alabama Company Pays $81,000 OSHA Fine After Worker’s Fatal Fall

Insurance Journal

The U.S. Department of Labor has fined an Alabama mobile home manufacturer more than $81,000 after a worker without fall protection slipped and fell to his death last November. The department’s Occupational Safety and Health Administration foun...

Posted: Jun 25, 2024

Workers Sue Disney, Say They Were Wrongly Induced to Move to Florida

Insurance Journal

ORLANDO, Fla. (AP) — Disney workers are suing their employer, claiming they were fraudulently induced to move from California to Florida to work in a new office campus only to have those plans later scrapped amid a fight between the …

Posted: Jun 25, 2024

New Hampshire Weighs Suspension of Trucker Found Not Guilty in Deadly Motorcycle Crash

Insurance Journal

Days before the five-year anniversary of a crash that killed seven motorcyclists, relatives and friends urged New Hampshire officials not to allow the trucker involved back on the state’s roadways. A jury in 2022 found Volodymyr Zhukovskyy not...

Posted: Jun 25, 2024

New Hampshire Weighs Suspension of Trucker Found Not Guilty in Deadly Crash

Insurance Journal

Days before the five-year anniversary of a crash that killed seven motorcyclists, relatives and friends urged New Hampshire officials not to allow the trucker involved back on the state’s roadways. A jury in 2022 found Volodymyr Zhukovskyy not...

Posted: Jun 25, 2024

Jury Awards $13M to Ultramarathon Athlete Injured on Seattle Sidewalk

Insurance Journal

A jury awarded $13.1 million to an ultramarathon athlete who was severely injured when she fell on a Seattle sidewalk in 2021. The award by a King County jury found that the city of Seattle and the owners of an …

Posted: Jun 25, 2024

AM Best affirms Hadron’s credit ratings and upgrades Folgate’s financial strength rating

Reinsurance News

AM Best has removed from under review with positive implications and upgraded the credit ratings of Folgate Insurance Company Limited, an US and international hybrid fronting carrier, and affirmed Hadron Specialty Insurance Company’s credit rating...

Posted: Jun 25, 2024

New York County to Pay $1.75 Million to Family of Man Killed by Police in 2011

Insurance Journal

A New York county has reached a $1.75 million settlement with the family of a man shot and killed by police in his home in 2011. Suffolk County, on Long Island, has agreed to pay the settlement to the family …

Posted: Jun 25, 2024

Cal/OSHA Board Adopts Workplace Standard for Indoor Heat

Insurance Journal

A California workplace safety oversight board adopted a new standard for indoor workplaces to enact safety measures when the temperature reaches 87°F. The Occupational Safety and Health Standards Board approved an indoor heat standard that requires i...

Posted: Jun 25, 2024

Wildfire Threats Make Utilities Uninsurable in U.S. West

Insurance Journal

Trinity Public Utilities District’s power lines snake through the lower reaches of the Cascade Range, a rugged, remote and densely forested terrain in Northern California that has some of the highest wildfire risk in the country. But for severa...

Posted: Jun 25, 2024

Wildfire Threats Make Utilities Uninsurable in US West

Insurance Journal

Trinity Public Utilities District’s power lines snake through the lower reaches of the Cascade Range, a rugged, remote and densely forested terrain in Northern California that has some of the highest wildfire risk in the country. But for severa...

Posted: Jun 25, 2024

To Err Is Human: Using AI and Avoiding Unintentional Misinformation

IA Magazine

Unintentional misinformation can seep into the underwriting process and cause signifcant coverage consequences—here's how artificial intelligence (AI) helps reduce this rising risk.

Posted: Jun 24, 2024

Owning It: Meet Young Agent Kasia Anderson

IA Magazine

"I’m excited to keep growing, learning and developing knowledge," says young agent Kasia Anderson. "As a female producer in a male-dominated industry, I’m also excited to help pave the way for other female insurance agents who want to grow and explor...

Posted: Jun 24, 2024

Owning It: Meet Young Agent Weston DeFrisco

IA Magazine

"It's nice to have old-school relationship-building and true cold-call outreach in the agency," says independent agent Weston DeFrisco. "But with Generation Z coming in, they have all of these creative ideas on how to use social networking and artifi...

Posted: Jun 24, 2024

Another COVID-Level Threat?

Insurance Thought Leadership

Another COVID-Level Threat? PaulCarroll

Posted: Jun 24, 2024

AXIS launches Incident Commander

coverager

Incident Commander will be led by Nicholas P.R. Steinmann.

Posted: Jun 24, 2024

Floodwaters Force People From Homes in Some Parts of Iowa

Insurance Journal

Floodwaters forced people out of their homes in parts of Iowa, the result of weeks of rain, while much of the United States longed for relief Saturday from yet another round of extraordinary heat. Sirens blared at 2 a.m. in …

Posted: Jun 24, 2024

Trawick International launches student insurance plans

coverager

The Trawick International Collegiate Care plans offer alternatives to traditional college or university health insurance for international students.

Posted: Jun 24, 2024

Progressive’s 2023 10-K highlights GenAI risks

coverager

Meanwhile, Travelers, Lemonade, and Guidewire are seeking GenAI talent.

Posted: Jun 24, 2024

Direct Line appoints Maz Bown as Group Chief Risk Officer

coverager

Maz joins the Group from Aviva.

Posted: Jun 24, 2024

Westfield Insurance to offer Ting devices

coverager

Westfield will provide Ting at no cost to 10,000 home and condo customers this year.

Posted: Jun 24, 2024

R&Q to sell Inceptum

coverager

R&Q will receive £11.25 million for the sale of the shares in Inceptum, payable in cash. 

Posted: Jun 24, 2024

Ambac to launch Tara Hill

coverager

Tara Hill will develop an Excess & Surplus portfolio with a focus on private Management Liability and Miscellaneous Professional Liability coverages.

Posted: Jun 24, 2024

PCF Insurance acquires 4 agencies

coverager

PCF continues to build an active M&A pipeline, seeking to acquire profitable insurance businesses.

Posted: Jun 24, 2024

OSHA News: U.S. DOL to Restructure Workplace Safety, Health

Carrier Management

OSHA News: U.S. DOL to Restructure Workplace Safety, Health Last month, the U.S. Department of Labor (DO...

Posted: Jun 24, 2024

Avail has a new offering

coverager

Avail competes with the likes of Turo and Getaround.

Posted: Jun 24, 2024

GM promotes Baris Cetinok and Dave Richardson to lead software and services

coverager

Incident Commander will be led by Nicholas P.R. Steinmann.

Posted: Jun 24, 2024

Top Workplace Injuries See Return to Pre-COVID Causes

Risk & Insurance

The Liberty Mutual Workplace Safety Index reveals key loss trends and areas requiring focus to reduce costly worker injuries across industries. The post

Posted: Jun 24, 2024

R&Q Files for Provisional Liquidation in Bermuda; Agrees to Sell Legacy Unit Inceptum

Insurance Journal

R&Q Insurance Holdings Ltd. confirmed that on June 21 it had filed with the Bermuda Supreme Court an application to appoint joint provisional liquidators to oversee the liquidation and ultimately the winding up of the company. The company anticip...

Posted: Jun 24, 2024

Markets/Coverages: FloodFlash Offers Parametric Flood Product Across US

Insurance Journal

FloodFlash announced its expansion to cover all mainland US locations. The sensor-enabled parametric flood insurer provides flood coverage in excess of the National Flood Insurance Program (NFIP) where the private markets are unable to quote, particu...

Posted: Jun 24, 2024

Restaurants, Rental Car Agency and Insurer Agree to Pay $1M to Husband of Bride Killed in Crash

Carrier Management

Restaurants, Rental Car Agency and Insurer Agree to Pay $1M to Husband of Bride Killed in Crash The hus...

Posted: Jun 24, 2024