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The Texas Windstorm Insurance Association (TWIA) Board of Directors met in Austin on May 7 for its second quarterly meeting of the year, where it completed financial preparations for the 2024 storm season. TWIA’s board voted secure a $500 milli...
Posted: May 10, 2024
American Coastal Insurance Corporation has announced the sale of its New York domiciled insurer, Interboro Insurance Company, to Forza Insurance Holdings, LLC, a move which completes the run-off of American Coastal’s personal lines portfolio...
Posted: May 10, 2024
The Biden administration intends to require hospitals to meet minimum cybersecurity standards after a single hack exposed the data of 100 million Americans. “We look to putting in place minimum cybersecurity standards for hospitals in the near...
Posted: May 10, 2024
White Mountains has released its Q1 2024 results, noting that the combined ratio for its Ark segment was 94%, which included slight net favourable prior year development and minimal catastrophe losses. However, Ark’s non-catastrophe losses i...
Posted: May 10, 2024
Insurance broker Aon plc announced an update to its Pricing Platform that aims to bring enhanced visualization and automation capabilities to re/insurance underwriters. The software update has also added new business lines including U.S. Financial li...
Posted: May 10, 2024
Former Louisiana lawmaker James David Cain passed away on May 8, Insurance Commissioner Tim Temple announced. Cain served 20 years in the Louisiana House of Representatives and another 16 years in the Louisiana Senate, where he led the Insurance and...
Posted: May 10, 2024
Posted: May 10, 2024
Posted: May 10, 2024
Posted: May 10, 2024
Fidelis Insurance Holdings Limited, a Bermuda-domiciled re/insurer, has reported underwriting income of $69.2 million, with a combined ratio of 85.8% for Q1 2024, compared to $80.6 million and 79.1%, respectively, for Q1 2023, as the firm’s gross...
Posted: May 10, 2024
CHICAGO (AP) — Three men who say they were sexually abused as children while incarcerated at Illinois juvenile detention centers came forward Tuesday as part of a lawsuit that chronicles decades of disturbing allegations of systemic child abuse. Calv...
Posted: May 10, 2024
Federal workplace safety inspectors have cited a Missouri roofing contractor for 21 violations for illegally exposing roof workers — five times in seven weeks — at six Wentzville residential worksites to the dangers of fall hazards, the construction...
Posted: May 10, 2024
Mexico is fighting 159 active wildfires across the country amid the year’s second heat wave that has also put the nation’s power grid under stress. Mexico’s national weather service issued an alert that at least 12 states would expe...
Posted: May 10, 2024
China is losing its luster as a top country to invest in as firms seek to avoid geopolitical risks and turn to Southeast Asia and Europe, according to a survey by the European Union Chamber of Commerce in China. Only …
Posted: May 10, 2024
HOUSTON (AP) — Nine of the 10 wrongful death lawsuits filed after a deadly crowd surge at the 2021 Astroworld music festival have been settled, including one that was set to go to trial this week, an attorney said Wednesday. …
Posted: May 10, 2024
Saudi Re has reported a net profit after zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SAR 31.79 million for the first quarter of 2024, a 183.87% increase from the same quarter the year prior. Accordin...
Posted: May 10, 2024
Higginbotham announced a series of executive promotions within the Financial Services division. These moves are intended to match current growth at Higginbotham and prepare for future milestones by drawing on deep bench strength to scale-up operation...
Posted: May 10, 2024
Texas landowners along the U.S.-Mexico border who have experienced damage caused by border property crime can now file for reimbursement of up to $75,000, attorney general Ken Paxton announced this week. Texas lawmakers last year approved a law to cr...
Posted: May 10, 2024
ICW Group Insurance Companies has expanded its workers’ compensation insurance coverage into the New York market to support its growth strategy. ICW Group noted that the entry into New York furthers its commitment to offering comprehensive c...
Posted: May 10, 2024
China Construction Bank Corp., the nation’s third-largest commercial lender, was accused in a US lawsuit of enabling a massive fraud in the reinsurance industry that left companies with “monumental losses” and sinking stock prices....
Posted: May 10, 2024
FloodFlash has added a dealer program in their efforts to support more U.S. businesses ahead of a hurricane season that is widely anticipated to be amongst the worst in recent memory. Stored on large, flat areas of often impermeable land, …
Posted: May 10, 2024
Global insurance and reinsurance broker Aon has launched a suite of risk analyser tools, allowing brokers in North America to receive exposure data, quantify loss potential and help risk managers make decisions based on the total cost of risk. The...
Posted: May 10, 2024
Liberty Mutual Holding Company on Thursday reported first quarter 2024 net income of $1.5 billion compared to loss of $74 million during the same period last year. The combined ratio for the first three months of 2024 improved to 95.8 …
Posted: May 10, 2024
Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were “thermonuclear,” or more than $100 million, according to a new study by research firm Marathon Strategies. The report, “Corporate Verdic...
Posted: May 10, 2024
US carbon-credit insurance carrier, Oka, has partnered with Australia’s Clima, a carbon solutions platform, to roll out insured carbon credits in the country via broker PSC Paragon (Australia). Protected by Oka’s Carbon Protect™...
Posted: May 10, 2024
After two years of challenges for personal auto insurers, rating agency AM Best delivered a positive assessment: U.S. personal auto insurers are the furthest ahead when it comes to innovation. Personal auto insurers’ innovative processes includ...
Posted: May 10, 2024
The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, Reuters reported on Wednesday. Government and …
Posted: May 10, 2024
The Florida Supreme Court has opened the door a little wider to wrongful death claims from people who weren’t married to victims at the time of injury, upsetting what defense lawyers said was a decades-old common-law practice. In Ripple vs. ...
Posted: May 10, 2024
A judge on Friday forced the Hawaii attorney general’s office to turn over to lawyers involved in the hundreds of lawsuits over last summer’s Maui wildfires all documents, interviews and data collected by the outside team hired to investi...
Posted: May 10, 2024
Cal/OSHA cited D’Arcy & Harty Construction Inc. $371,100 for failing to protect employees working in a trench excavation at a construction site in San Francisco. On Sept. 28, 2023, an employee was replacing sewer parts inside the eight-foot...
Posted: May 10, 2024
Mercury Insurance on Thursday announced a plan that the Los Angeles-based carrier says will help maintain insurance availability and provide coverage for thousands of California consumers as two insurers exit the state’s personal lines market....
Posted: May 10, 2024
Federal workplace safety investigators are alleging that an East Boston window cleaning company’s failure to inspect and replace damaged or defective equipment contributed to an employee’s fatal 29-story fall from a building in downtown B...
Posted: May 10, 2024
A jewel thief who is wanted in connection with crimes committed from Florida to South Korea stole a diamond ring worth $255,000 from a Tiffany store in New York by switching it with a cubic zirconia replica, authorities said. The …
Posted: May 10, 2024
World Insurance Associates, headquartered in Iselin, New Jersey, hired Ken Bond as chief corporate development officer. Bond oversees corporate development for retail insurance, retirement plan and wealth management services and wholesale insurance....
Posted: May 10, 2024
A report looking at 1.2 million homes in Colorado shows risks in the one of the top states for hail-related insurance claims are made worse by the state of some properties. The Arturo used artificial intelligence models with aerial imagery, …
Posted: May 10, 2024
New York State’s $5 million Insurance Innovation Prize is now open for applications. Supported by the New York State Energy Research and Development Authority (NYSERDA), the new program offers awards for the “development and deployment of...
Posted: May 10, 2024
Data analytics and market insight platform, Broker Insights, has launched Propensity Lens, which aims to improve efficiency for insurers by helping them to predict the possibility of winning business. Propensity Lens is an addition to Broker Insig...
Posted: May 10, 2024
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of Blue Whale Re Ltd. (Blue Whale) (Burlington, VT). The outlook of these Credit Ratings (ratings) is stable. A...
Posted: May 10, 2024
Washington Insurance Commissioner Mike Kreidler issued a cease-and-desist order and fined Fred Meyer Stores Inc. $100,000 for selling insurance without state authorization. Fred Meyer stores reportedly sold the GUARD Protection Plan, issued by Mack C...
Posted: May 10, 2024
Fannie and Freddie Hit Pause on Replacement-Value Rules for Home Insurance Property insurance groups on...
Posted: May 09, 2024
Risk Alert: How to Quit Doomscrolling Like many of us, Jessica Peopl...
Posted: May 09, 2024
Mercury Taking Over Tokio Marine California Biz, Bul...
Posted: May 09, 2024
Insurance Business Magazine - US
Posted: May 09, 2024
Fannie and Freddie Hit Pause on Replacement-Value Requirements for Home Insurance Property insurance gr...
Posted: May 09, 2024
Last month TMA said it cannot sustainably support personal lines coverages and would be exiting the personal lines market.
Posted: May 09, 2024
Provided through a partnership with Nationwide, Unum Pet Insurance can help employees manage everything from accidents to illnesses to wellness and preventative care.
Posted: May 09, 2024
The Safe Rider Program uses proprietary crash detection tech to provide real-time emergency response coordination in the event of an accident. Company expands coverage to Ohio.
Posted: May 09, 2024