All Posts
Denmark is considering ways to limit a so-called shadow fleet of tankers from carrying Russian oil through the Baltic Sea, the Nordic country’s foreign minister said on Monday, in a move that could heighten tensions with Moscow. Russia sends ab...
Posted: Jun 17, 2024
The insurance intermediary group Howden has announced the appointment of Paul Hipson to the newly created role of Head of London Broking for the Corporate & Commercial division within Howden UK & Ireland, effective June 2024. In his new po...
Posted: Jun 17, 2024
With torrential rains and deadly flooding impacting many Arabian Gulf countries between April 13-17, Gallagher Re estimates the market loss for United Arab Emirates (UAE) property to be in the range of $1.8 billion to $2.3 billion, while UAE Motor...
Posted: Jun 17, 2024
Swiss Re Institute is forecasting a 40% rise in insurers’ investment income on average, for insurers in the largest eight life markets in the five years to 2027, driven primarily by higher bond yields. In a recent blog authored by James Finu...
Posted: Jun 17, 2024
Russia’s Ingosstrakh said on Friday it may challenge UK sanctions in court and was seeking clarification about the measures imposed on the country’s leading insurer that the British government announced on Thursday. Ingosstrakh, which pro...
Posted: Jun 17, 2024
Finnish insurer Sampo has agreed to buy Topdanmark an all-share deal that values the Danish rival at 33 billion crowns ($4.73 billion), the two companies said on Monday. Sampo already owns 48.5% of the Danish property and casualty (P/C) insurer, R...
Posted: Jun 17, 2024
French reinsurer SCOR has announced the appointment of longstanding retrocession and third-party capital partnerships executive Benoît Liot as Head of Risk Partnerships. SCOR has highlighted the relevance of this appointment as “an important step...
Posted: Jun 17, 2024
Global reinsurer Munich Re has recently appointed Jack Faure as the Head of Parametric NatCat Solutions. In this role, Faure will manage the company’s global transactional team. He will lead project teams to drive and support product development w...
Posted: Jun 17, 2024
Finish insurer Sampo has revealed it intends to acquire all of the outstanding shares in P&C insurer Topdanmark not already owned for 33 billion Danish Krone (€4.42 billion). Sampo already owns around 48.5% of Topdanmark, with this new conside...
Posted: Jun 17, 2024
Low Software-Generated Replacement Costs Fuel Suit Against Farmers Alameda County District Attorney Pamela...
Posted: Jun 17, 2024
Posted: Jun 17, 2024
Posted: Jun 17, 2024
Experienced parametric risk transfer professional, Gareth Davies, is to join global insurance and reinsurance broker Howden as Head of Parametric Solutions, Reinsurance News has learned. Davies is joining Howden from Price Forbes Re, where he most...
Posted: Jun 17, 2024
DARAG Group, a (re)insurance specialist in discontinued business and capital and operational relief, has entered into a service agreement with UnipolSai Assicurazioni S.p.A. (Unipol), an Italian insurer within the Unipol Group. Unipol is a major p...
Posted: Jun 17, 2024
After holding relatively steady for nearly a decade, the number of business liability policy claims cases jumped 28% in 2023, according to a litigation report from Lex Machina. The report found that 3,596 business liability cases covering third-party...
Posted: Jun 17, 2024
AXIS Capital Holdings Limited, a specialty insurance company, has released a new report titled “Navigating Risk in the Energy Transition”, based on independent research which examines how various risks, including climate change, econom...
Posted: Jun 17, 2024
The hurricane season continues to look like it will be a highly active one, as a potent and portentous weather pattern continues to take shape, an AccuWeather meteorologist told Claims Journal on Friday. “It certainly looks like it’s goin...
Posted: Jun 17, 2024
In May, Florida’s chief financial officer sent out a notice that he had appointed new members to the Florida Insurance Guaranty Association’s board of directors. Just a week later, though, one of those appointees, a State Farm employee, w...
Posted: Jun 17, 2024
A judge on Friday ordered a retrial over allegations that a Virginia-based military contractor contributed to the abuse and torture of detainees at Iraq’s notorious Abu Ghraib prison two decades ago. A civil trial earlier this year ended with a...
Posted: Jun 17, 2024
Vermont’s governor has vetoed a broad data privacy bill that would have been one of the strongest in the country to crack down on companies’ use of online personal data by letting consumers file civil lawsuits against companies that break...
Posted: Jun 17, 2024
Bangkok-based Asian Reinsurance Corporation (Asian Re) has announced the appointment of a new Chairperson, Sumalee Satitchaichareon, Deputy Director-General, Fiscal Policy Office, the Ministry of Finance of Thailand. Asian Re is an intergovernment...
Posted: Jun 17, 2024
The Oregon Occupational Safety and Health Division fined a Grants Pass roofing company $86,149 for workplace safety violations, including repeatedly failing to safeguard workers from fall hazards that could seriously injure or kill them. The division...
Posted: Jun 17, 2024
This post is part of a series sponsored by TSIB. Understanding how insurance cost savings work on a Controlled Insurance Program (CIP), also known as a Wrap-Up, and who retains the risk/reward is important. There are several varieties of CIPs …
Posted: Jun 16, 2024
Experts in this one-hour webinar will discuss dozens of data points that were garnered from an industry survey of more than 1300 frontline claims professionals. The post
Posted: Jun 16, 2024
Starting July 1, Florida insurance agents must have at least three appointments with authorized carriers before they can sell policies for the state-created Citizens Property Insurance Corp. That’s the mandate laid down by Florida House Bill 15...
Posted: Jun 16, 2024
The 2024 Atlantic hurricane season, predicted to be unusually intense, officially began this week and it could soon bring the first test of a North Carolina law that some insurance experts have said weakens building codes in the state and …
Posted: Jun 16, 2024
While the rise in new business activity in the construction space is exciting for insurers, the decades-long dilemma over a shortage of qualified talent does worry underwriters. Darren Tasker, North American head of energy and construction at Allianz...
Posted: Jun 16, 2024
Why don’t candidates I reach out to respond?” It is frustrating when people apply for your jobs only to never respond to an interview request, or in the case of LinkedIn, you send an InMail about a job opening that …
Posted: Jun 16, 2024
The balance sheet is preeminent in financial audits by its placement at the front of audit reports. The balance sheet is what insurance regulators and raters are supposed to first focus upon, because it is a measure of whether an …
Posted: Jun 16, 2024
By Andrea Wells While the labor market continues to come up short for the construction industry, the insurance market is doing its job supplying the coverages the industry needs to keep up with the significant demand for new building. Despite …
Posted: Jun 16, 2024
When it comes to most of the personal lines market, it’s pretty straightforward. A person buys a car, and they need insurance. A person buys a home or rents an apartment, and they need insurance. Often, they can benefit from …
Posted: Jun 16, 2024
Experts are calling it: 2024 looks like a good year for merger and acquisition (M&A) activity for the insurance industry. To make the most of this positive environment, buyers and sellers will be focusing on getting appropriate valuations, explor...
Posted: Jun 16, 2024
By Elizabeth Blosfield N ationwide’s Chetan Kandhari said the company is working to build a bionic workforce. Maybe that brings to mind robots, futuristic technology and sci-fi imagery, but Kandhari said no one should fear robots replacing huma...
Posted: Jun 16, 2024
For years, newly organized reciprocal insurers were few and far between and were not the preferred vehicle for new entrants to the insurance space. In fact, at one time, a prominent state insurance regulator refused to license new reciprocals, believ...
Posted: Jun 16, 2024
By Jahna Jacobson The construction sector accounts for the largest premium share when it comes to workers’ compensation premium in National Council on Compensation Insurance (NCCI) states but improved safety measures and employee tenure through...
Posted: Jun 16, 2024
The role of press releases often is underappreciated in the insurance industry. While digital marketing and social media strategies can dominate the conversation, the traditional press release remains a powerful tool that holds immense untapped poten...
Posted: Jun 16, 2024
In today’s competitive job market, companies are increasingly recognizing the importance of prioritizing employee happiness. It’s no secret that happy employees are more productive, engaged, and likely to stay with their employers for the...
Posted: Jun 16, 2024
Having spent 15 years traveling across the country meeting principals, I’ve learned much about why some agencies are successful and others fail when it comes to acquiring and nurturing new producers. What I’ve discovered is that the most...
Posted: Jun 16, 2024
The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report. The Best’s Special Report, “U.S. P/C Insu...
Posted: Jun 16, 2024
In last month’s column, we began our examination of hail and windstorm claims issues by focusing on the pervasive problem of whether delayed discovery and reporting of hail damage meets the conditional requirements of most homeowners policies t...
Posted: Jun 16, 2024
A Connecticut Appeals Court has affirmed that an insurer is not obligated to provide actual notice of a home insurance nonrenewal; proof that the insurer sent the notice by registered or certified mail is sufficient. The homeowners in the case …...
Posted: Jun 16, 2024
Wisconsin’s average indemnity benefit per claim grew nearly 10% in 2022, fueled by large growth in the average duration of temporary disability per claim, according to a recent study from the Workers Compensation Research Institute. Nevertheles...
Posted: Jun 16, 2024
With its multifaceted capabilities, AI is significantly reshaping the workers’ compensation industry today, addressing its inherent challenges, and enhancing its operational, clinical and customer service elements.
Posted: Jun 16, 2024
Avoid claim delay dangers with these best practices.
Posted: Jun 16, 2024
Sertis' focus is on multifamily garden-style apartments with coverages including package, monoline general liability and monoline property with equipment breakdown.
Posted: Jun 16, 2024
Special cars deserve specialty protection.
Posted: Jun 16, 2024
As in many industries, there are numerous challenges that participants in the equine industry must face. Independent agents can assist clients overcome these challenges.
Posted: Jun 16, 2024
When it comes to A&E claims, litigation is nearly a given on public design projects.
Posted: Jun 16, 2024