All Posts

AmTrust welcomes legal specialists to Canadian team

Reinsurance News

Headquartered in New York, AmTrust Financial Services, Inc., an insurance holding company, warmly welcomes seasoned legal expense specialists Kevin Le Messurier-Girling and Victoria Girling to its international team, enhancing its presence in Cana...

Posted: Jun 10, 2024

Shipping losses hit historic low amid rising risks: Allianz review

Reinsurance News

Allianz Commercial’s annual Safety and Shipping Review reveals a historic low in shipping losses despite escalating risks from geopolitical tensions and climate change. In 2023, the global count of large ships lost dropped significantly to 26, dow...

Posted: Jun 10, 2024

Former Allianz Employee Pleads Guilty to Fraud Over $7-Billion Funds Collapse

Insurance Journal

A former Allianz fund manager pleaded guilty on Friday over his role in a meltdown of private investment funds sparked by the pandemic that caused an estimated $7 billion of investor losses. Gregoire Tournant, 57, of Basalt, Colorado, admitted to &#8...

Posted: Jun 10, 2024

Rachael Dugan joins Cover Whale as General Counsel & Corporate Secretary

Reinsurance News

Insurtech, Cover Whale Insurance Solutions, Inc., has hired Rachael Dugan as the company’s first General Counsel & Corporate Secretary, where she will report directly to Chief Executive Officer (CEO), Dan Abrahamsen. In the role, she is...

Posted: Jun 10, 2024

Person With Bird Flu Dies in Mexico: WHO

Insurance Journal

A person with prior health complications who had contracted bird flu died in Mexico in April and the source of exposure to the virus was unknown, the World Health Organization said on Wednesday. WHO said the current risk of bird …

Posted: Jun 10, 2024

Managing the rising risks of SRCC: Pande, Swiss Re

Reinsurance News

According to Mohit Pande, Chief Underwriting Officer of Property at Swiss Re, the impacts of Strikes, Riots, and Civil Commotion (SRCC) are at an all-time high, underscoring the urgent need for effective risk management and mitigation strategies w...

Posted: Jun 10, 2024

Tremblay to lead WTW’s ICT Canada P&C practice

Reinsurance News

WTW, a global advisory, broking, and solutions company, has named Jean-Francois Tremblay as the head of the Property & Casualty (P&C) practice within Canada for the Insurance Consulting and Technology (ICT) division. Tremblay has extensive...

Posted: Jun 10, 2024

Top Law Firms in US Opioid Lawsuits to Get Hundreds of Millions in Fees

Insurance Journal

A court-appointed panel on Friday recommended how to divvy up a pool of $2.13 billion in legal fees from nationwide drug industry settlements over the U.S. opioid crisis, with top firms set to receive hundreds of millions of dollars. The …

Posted: Jun 10, 2024

Catastrophe Bond Sales Soar as Markets Brace for Unusually Active Hurricane Season

Insurance Journal

Issuance of catastrophe bonds just hit a record high, as the market braces for a rough hurricane season with the potential to do substantial damage. Sales of so-called cat bonds are 38% higher this year through May than over the …

Posted: Jun 10, 2024

South Carolina DOI Sets Another Data Call on Liability Market Issues in the State

Insurance Journal

The South Carolina Department of Insurance is again requesting carrier data on the health of liability insurance markets in the state. “As you are aware, South Carolina and other states have seen liability markets harden significantly over the...

Posted: Jun 10, 2024

Disney to Invest $17B in Florida Parks Now That Fight with DeSantis Has Cooled

Insurance Journal

ORLANDO, Fla. (AP) — Months after Disney and Gov. Ron DeSantis’ appointees agreed to end a protracted legal fight, the two sides are set to approve an agreement that could result in the company investing up to $17 billion into …

Posted: Jun 10, 2024

Witness Testifies on Seeking Sen. Menendez’s Help on Insurance, Trucking Probes

Insurance Journal

A New Jersey businessman took his star turn on the witness stand in the bribery case against Sen. Bob Menendez on Friday, telling a jury he believed he had a $200,000-to-$250,000 deal in 2018 for the Democrat to pressure the …

Posted: Jun 10, 2024

Rhode Island Lawmakers Pass Bill Requiring Safe Storage of Firearms

Insurance Journal

A bill that would require the safe storage of firearms in Rhode Island has been approved by lawmakers and is awaiting the governor’s signature. The bill, which won final approval from lawmakers on Thursday, would require all firearms, when not...

Posted: Jun 10, 2024

Lax Oversight by California Agency Put Freeway at Risk Before 2023 Blaze, Audit Finds

Insurance Journal

Lax oversight by California’s transportation agency contributed to a destructive blaze last year that consumed a vital section of a Los Angeles freeway used by hundreds of thousands of commuters, according to a state audit. While authorities de...

Posted: Jun 10, 2024

Maine’s Biggest Water District Sues 18 Manufacturers Over Forever Chemicals

Insurance Journal

The biggest water district in Maine is suing manufacturers of so-called forever chemicals in the hopes of recouping costs of monitoring and treating polluted wastewater. The Portland Water District lawsuit comes as the cost of the disposal of PFAS-co...

Posted: Jun 10, 2024

Just’s DB business reaches milestone of 400 transactions

Reinsurance News

Just Group’s defined benefit (DB) business has completed 400 bulk annuity transactions, reaching a milestone since entering the market in 2012. The life insurer launched with the vision of using the Group’s underwriting expertise and innovation cr...

Posted: Jun 10, 2024

ShakeAlert Adding Satellite Capabilities for Earthquake Warnings

Insurance Journal

The U.S. Geological Survey and its partners have come out with a new capability designed to characterize large earthquakes quickly in hopes of helping warn the public about potentially damaging shaking headed their way. The ShakeAlert System, current...

Posted: Jun 10, 2024

Equitable Enhances Corporate Endowment Solutions Platform

IIR

Financial professionals can now manage variable universal life insurance policies through the full-service management platform.

Posted: Jun 09, 2024

Quility Launches New Whole Life Insurance Offerings

IIR

The new products further expand products available on Quility’s Navigator Platform and bring coverage options to those that may have previously been declined or deemed uninsurable.

Posted: Jun 09, 2024

Indico Data Closes $19M Funding Round

IIR

As part of the round, led by .406 Ventures, the firm has secured a strategic investment from Guidewire and has announced the impending release of a Ready for Guidewire accelerator.

Posted: Jun 09, 2024

Chubb Names David Kirk President of Chubb Global Markets

IIR

Kirk brings nearly two decades of experience in Chubb’s London Market wholesale and specialty business.

Posted: Jun 09, 2024

Cars From the ‘90s Are Classics? Yes Way!

IA Magazine

The 1990s were more than "just about 10 years ago."

Posted: Jun 09, 2024

Claims Reporting Best Practices for Small Commercial Clients

IA Magazine

Don’t delay—submit that workers comp claim today!

Posted: Jun 09, 2024

The Consequences of Misclassifying Risk

IA Magazine

Misclassifying risks can lead to significant consequences for agents and clients. From inadequate coverage to unexpected costs and lawsuits, the risks of misclassification are real and can have a lasting impact.

Posted: Jun 09, 2024

Keeping Up With the Expanding Equine Market

IA Magazine

Understanding the reasons behind the significant growth in the equine industry can present numerous opportunities for agents.

Posted: Jun 09, 2024

Keeping Up With the Expanding Equine Market

IA Magazine

Understanding the reasons behind the significant growth in the equine industry can present numerous opportunities for agents.

Posted: Jun 09, 2024

Pega Enhances Pega GenAI Blueprint to Accelerate Transformational App Design

IIR

Rapid adoption, a growing ecosystem, and new capabilities give enterprises new ways to think about their workflows.

Posted: Jun 09, 2024

Pega Seeks to Transform Corporate Learning with Pega GenAI Socrates

IIR

The dynamic AI tutor uses the Socratic method to enable clients and partners to learn Pega at their own pace while better mastering and retaining skills.

Posted: Jun 09, 2024

LGA CTO on the Firm’s Innovative Horizon Digital Platform

IIR

Raju Seetharaman, SVP and CTO, LGA, talks about how Horizon built on the success from Legal & General’s digital innovation in the U.K. and preceded Covid-driven digital innovation by American life insurance carriers.

Posted: Jun 09, 2024

Triple-I: Personal Auto Profitability is Steering in the Right Direction

Insurance Information Institute

NEW YORK, June 10, 2024 – Personal auto insurance underwriting profitability appears to finally be headed in a positive direction after recent years of record underwriting losses, according to the Insurance Information Institute (Triple-I). But while...

Posted: Jun 09, 2024

Navigating the Rise in Terrorism Threats

Insurance Thought Leadership

Navigating the Rise in Terrorism Threats Risk Management ClareCarroll1

Posted: Jun 09, 2024

How Insurance Brokers Can Stay Competitive

Insurance Thought Leadership

How Insurance Brokers Can Stay Competitive Agent & Broker ClareCarroll1

Posted: Jun 09, 2024

How Algorithms Can Make Life Insurance Offers Fast

Insurance Thought Leadership

How Algorithms Can Make Life Insurance Offers Fast Life & Health ClareCarroll1

Posted: Jun 09, 2024

AM Best revises global reinsurance industry outlook to positive

Reinsurance News

Rating agency AM Best has revised its sector outlook for the global reinsurance industry from stable to positive, citing an expectation of robust reinsurer profit margins and saying it expects underwriting discipline will be maintained. This is th...

Posted: Jun 09, 2024

Preparing for a Rough Hurricane Season

Insurance Thought Leadership

Preparing for a Rough Hurricane Season Predict & Prevent ClareCarroll1

Posted: Jun 08, 2024

A Perfect Storm: Looking Ahead to the 2024 Hurricane Season

Insurance Journal

This post is part of a series sponsored by CoreLogic. The Atlantic and Gulf Coasts of the United States are officially in hurricane season, which every year starts on June 1 and lasts through the end of November. People across …

Posted: Jun 07, 2024

N.J. Man Gets 10 Year Prison Term for Lead Role in No-Fault Insurance Fraud

Carrier Management

N.J. Man Gets 10 Year Prison Term for Lead Role in No-Fault Insurance Fraud Bradley Pierre was sentenced to 10 yea...

Posted: Jun 07, 2024

Innovations in Workers’ Compensation: A Conversation with Joseph Berardo Jr. of Carisk Partners

Risk & Insurance

In this Q&A, Joseph Berardo Jr. from Carisk Partners explores the potential of AI in health care, the advancements in surgical technology, and the emerging goals in the workers’ compensation industry. The post

Posted: Jun 07, 2024

Clay Humphries Appointed as Executive Vice President of Property and Casualty at Charles Taylor

Risk & Insurance

The latest people news in the industry today. The post Clay Humphries Appointed as Execut...

Posted: Jun 07, 2024

Ryan Barber Joins Aon as Global Head of Property for Commercial Risk Division

Risk & Insurance

The latest people news in the industry today. The post Ryan Barber Joins Aon as Global Head of Property for...

Posted: Jun 07, 2024

Donna Nadeau Promoted to Head of Large Commercial in Americas at AXA XL Insurance Underwriting Opera...

Risk & Insurance

The latest people news in the industry today. The post Donna Nadeau Promoted to...

Posted: Jun 07, 2024

Endpoint Data Security Gaps Pose Significant Risks

Risk & Insurance

Organizations must prioritize endpoint data security to effectively manage the growing risks posed by remote work, sophisticated cyber threats, and regulatory requirements, a new report finds. The post

Posted: Jun 07, 2024

Third-party capital to remain relevant for reinsurers to reduce increased nat cat risk: S&P

Reinsurance News

Third-party capital is expected to continue growing and to remain an important way for reinsurers to reduce natural catastrophe risk, according to S&P analysts. According to a recent S&P report the risk level of natural catastrophes &#8211...

Posted: Jun 07, 2024