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Floridians with homes in the ritziest neighborhoods that include Coral Gables and Naples are experiencing the nation’s biggest increases in real estate wealth as markets in the Sunshine State supplant those in California and New York at the top...
Posted: Apr 15, 2024
A Rutland, Massachusetts man was sentenced in federal court in Worcester to conspiring to access a computer system of his former employer – a non-profit substance use and mental health treatment provider that operates recovery centers throughout Mass...
Posted: Apr 15, 2024
CG Re (Africa) has obtained a mandate by the Minister of Finance of the Democratic Republic of Congo (DRC) to assist with the setup and management of a new specialty lines Reinsurance Facility. Administered by the Autorité de Régulation et de Cont...
Posted: Apr 15, 2024
A study by researchers from Harvard and Columbia universities and at the Federal Reserve has reopened the debate about the financial fortitude and the financial rating system for dozens of Florida property insurance companies. The president of Demote...
Posted: Apr 15, 2024
WTW, a global insurance and reinsurance broker, has announced the appointment of Neil Harrison as the new Global Head of Claims. In his new role, Harrison will report directly to Adam Garrard, WTW’s Global Head of Risk & Broking. He will...
Posted: Apr 15, 2024
This edition of International People Moves details appointments at Aon, Berkshire Hathaway Specialty Insurance (BHSI) and AXIS Capital Holdings. A summary of these new hires follows here. Aon Promotes Sapra as CEO of Reinsurance Solutions in India In...
Posted: Apr 15, 2024
Independent specialist re/insurance broker Miller has announced the appointment of Alberto Ferriolo to its Asia Pacific Cargo team, based in Singapore. Ferriolo will be supporting Miller’s clients and partners across the APAC region while working...
Posted: Apr 15, 2024
USAA to Lay Off 220 Employees USAA is laying off 220 employees in an effort to reprioritize positions...
Posted: Apr 15, 2024
If U.S. Inflation Reflected Rising Home Insurance Cos...
Posted: Apr 15, 2024
Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial Director Rich Coyle said his firm created Flood BI...
Posted: Apr 15, 2024
Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial Director Rich Coyle said his firm created Flood BI...
Posted: Apr 15, 2024
Global specialty re/insurer, Canopius Group, has entered into a partnership with Group-IB, a creator of cybersecurity technologies, which is set to strengthen Canopius’ cyber insurance offering with further advanced threat intelligence capabilitie...
Posted: Apr 15, 2024
Baltimore Mayor Brandon M. Scott announced that the city is taking legal steps to address the impact the Key Bridge collapse has had on the city of Baltimore and its residents, including the families of the victims, business owners, and …
Posted: Apr 15, 2024
Commercial insureds in California will now be able to benefit from Munich Re Specialty Insurance (MRSI) newly launched FAIR Plan Commercial Wrap, a new solution available to those insureds who seek comprehensive coverage in tandem with their FAIR...
Posted: Apr 15, 2024
Global specialty re/insurance broker, McGill and Partners, has expanded its global presence by hiring Duncan Milne and Cabot Lyman as Partners to its US Property Team. Milne joins the firm as Partner, Head of US Property, bringing more than 16 yea...
Posted: Apr 15, 2024
Speciality re/insurance MGA Rokstone, which is part of the Aventum Group, has acquired a box at Lloyd’s in a three-year deal. Rokstone has reportedly taken box 335, located on gallery 3, and will be trading live from the 15th of April 2024, operat...
Posted: Apr 15, 2024
The family of an elderly JPMorgan Chase & Co. client who lost tens of millions of dollars on investments as he slid into dementia faces a major setback in their years-long legal battle with the bank, after a magistrate judge …
Posted: Apr 15, 2024
FloodFlash, a parametric flood insurer, is introducing Flood BI, a new product designed to support business interruption (BI) coverage in the United States. Key features of Flood BI include unrestricted spending of claim payments, rapid payment wi...
Posted: Apr 15, 2024
Howden, the London-based insurance intermediary group, announced it has acquired Curran Connolly & Co. (Drogheda) Ltd., the commercial and personal lines insurance broker based in County Louth, Ireland. Financial details of the transaction were n...
Posted: Apr 15, 2024
Uber Technologies said on Wednesday that it is boosting its safety features for passengers around the world, as it looks to minimize risk and ensure security for women at night. The features allow passengers during a ride to select up …
Posted: Apr 15, 2024
Britain’s homes and businesses received 4.86 billion pounds ($6.07 billion) in property insurance payouts in 2023, up 18% from a year earlier, as weather-related home claims hit a record high, the Association of British Insurers said on Monday....
Posted: Apr 15, 2024
Home insurance claims for weather-related damage reached a record £573 million last year, making it the highest on record and 36% greater than 2022’s £421 million, according to the Association of British Insurers (ABI). This substantial rise...
Posted: Apr 15, 2024
Parametrix, a provider of cloud monitoring, modeling, and insurance services has launched Parametrix Analytics, a brand new service that will allow re/insurers to quantify, effectively manage, and efficiently transfer cloud risks with unprecedente...
Posted: Apr 15, 2024
After years of struggling to raise capital in European Union markets, Mews – a hospitality software firm with Czech roots – finally secured funding by registering as a Dutch company. For its next step, Mews is looking even further from &#...
Posted: Apr 15, 2024
Thirty years ago, single mother Jeanette Ward needed a job. Enter Texas Mutual, where today she fills the role of CEO. Ward reflects on her career in insurance and how to pave a path forward to welcome new recruits to the industry. The post...
Posted: Apr 15, 2024
Global insurance and reinsurance brokerage Aon has announced the appointment of Shailendra Sapra as CEO of the firm’s Reinsurance Solutions in India and a member of the APAC region’s Reinsurance Executive Committee. In his new role, based in Mumba...
Posted: Apr 15, 2024
Advancing how insureds and their insurers collect and share cybersecurity data is the goal of Secondsight’s Reuben Vandeventer. The post
Posted: Apr 15, 2024
JP Morgan has estimated that global insured losses will be less than $10 billion in Q1 of 2024, much below the average of $15 billion over the last 10 years. The largest natural catastrophe during Q1 was the magnitude 7.5 earthquake that struck Ja...
Posted: Apr 15, 2024
Apple Inc has warned its users in India and ninety-one other countries that they were possible victims of a “mercenary spyware attack,” according to a threat notification email that was sent to targeted users. The company discovered that...
Posted: Apr 15, 2024
Reinsurance giant Swiss Re’s shareholders approved all motions put forward by the Board of Directors at its Annual General Meeting (AGM), with all proposed members of the Board of Directors re-elected for a one-year term, and the election of...
Posted: Apr 15, 2024
Insurance Business Magazine - US
Posted: Apr 15, 2024
Divers in northern Italy have recovered the last two bodies of workers killed by an explosion that collapsed and flooded several levels of an underground hydroelectric plant, bringing to seven the number of confirmed dead, officials said Friday. The...
Posted: Apr 15, 2024
BNP Paribas has signed an agreement with China’s Fosun Group to acquire its around 9% stake in Belgian insurer Ageas for a sum the French bank estimates at 730 million euros ($777 million). Ageas and BNP Paribas are long time …
Posted: Apr 15, 2024
Sebastian Cook has joined Howden Re International as Deputy CEO, where he will support the current CEO Massimo Reina. Cook reportedly holds significant international broking and leadership experience, having previously led European broking at Guy...
Posted: Apr 15, 2024
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Posted: Apr 15, 2024
Large European reinsurer Hannover Re has, in collaboration with Parametrix, issued the world’s first cloud outage catastrophe bond, a $13.75 million privately placed transaction called Cumulus Re. Issued via Hannover Re’s wholly owned...
Posted: Apr 15, 2024
Trean Insurance Group, a provider of products and services for the specialty insurance market, has implemented Origami Risk’s multi-tenant core property and casualty solution suite to streamline its workers’ compensation business. This comprehensi...
Posted: Apr 15, 2024
BRENHAM, Texas (AP) — A Texas semitrailer driver rammed a stolen 18-wheeler through the front of a public safety building where his renewal for a commercial driver’s license had been rejected, killing one person and injuring 13 others, authorit...
Posted: Apr 15, 2024
TOPEKA, Kan. (AP) — Kansas will increase what have been among the lowest benefits in the U.S. for workers who are injured or killed on the job under bipartisan legislation that Gov. Laura Kelly signed into law Thursday. The new …
Posted: Apr 15, 2024
New York City has agreed to pay $17.5 million to settle a lawsuit filed by two Muslim women who were forced to remove their head coverings to be photographed after they were arrested. The class-action lawsuit was filed in 2018 …
Posted: Apr 15, 2024
World Insurance Associates LLC acquired the business of InterWeb Insurance in Lake Havasu City, Arizona. InterWeb was founded in 2008 and primarily provides commercial insurance, focusing on errors & omissions coverage for customers in the financ...
Posted: Apr 15, 2024
Bowhead Specialty Holdings disclosed on Friday that its net profit more than doubled in 2023, as the insurance underwriting company made its IPO filing public amid a rebound in fresh U.S. listings. The U.S. initial public offering market is expected...
Posted: Apr 15, 2024