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Almost half the world’s population will go to the polls before the end of 2024, which raises the threat of political violence and possible large insurance losses, according to Allianz Commercial in a new report. An unprecedented “super-cy...
Posted: Apr 11, 2024
Farmers Insurance has recently announced the appointment of Eric Coleman as the new President of Business Insurance. In his new role, Coleman will directly report to Raul Vargas, CEO of Farmers, and assume responsibility for spearheading commercia...
Posted: Apr 11, 2024
Argo Group has appointed Julie Saunders as SVP, Head of Inland Marine, where she will reportedly oversee the lines underwriting team and develop innovative marine insurance solutions to meet client needs. Saunders holds two decades of industry exp...
Posted: Apr 11, 2024
Nearly three-quarters (73%) of insurers currently invest in private markets, or plan to do so in 2024, while nearly four in 10 (39%) are aiming to increase their private market allocations, according to Mercer and Oliver Wyman – businesses o...
Posted: Apr 11, 2024
Guy Carpenter, the global risk and reinsurance specialist and a business of Marsh McLennan, has appointed Richard Chu as Managing Director, Credit, Bond & Political Risk, Global Specialties, effective immediately. Chu will be based in Singapor...
Posted: Apr 11, 2024
Risk Theory, a privately held specialty lines insurance manager, has launched Amherst Specialty Insurance Company. Amherst is a Texas domiciled and a wholly-owned affiliate within the Risk Theory group of companies, and is an authorized surplus li...
Posted: Apr 11, 2024
April 11, 2024 — As urban spaces continue to evolve and expand, the importance of efficient parking infrastructure cannot be overstated. Yet, for property owners and managers, the cost of insuring parking structures alongside main buildings has...
Posted: Apr 11, 2024
Global insurance and reinsurance brokerage Aon has appointed Mike Pedel as its new Head of Global Benefits, effective immediately, based out of London. Pedel will report to Lambros Lambrou, Human Capital Chief Executive Officer, and will join the...
Posted: Apr 11, 2024
Sayata, a marketplace for insurance brokers and carriers, has recently launched the Sayata Risk Engine: an AI-powered platform designed to revolutionise risk assessment and underwriting for insurance carriers and MGAs. Asaf Lifshitz, Co-Founder an...
Posted: Apr 11, 2024
The European Parliament voted on Wednesday to pass a law to reduce carbon dioxide emissions from trucks, which will require most new heavy-duty vehicles sold in the EU from 2040 to be emissions-free. The law will enforce a 90% cut …
Posted: Apr 11, 2024
Hong Kong-based global reinsurer Peak Re has expanded its Structured Solutions team to enhance product diversity and deliver customised reinsurance solutions to both its Property & Casualty (P&C) and Life & Health (L&H) clients. Th...
Posted: Apr 11, 2024
Posted: Apr 11, 2024
Posted: Apr 11, 2024
Acies MGU, the technology and data-driven managing general underwriter (MGU), has launched Phoenix Specialty, a new specialist managing general agent (MGA) serving the construction sector. The MGA will be led by managing director Tim James, subjec...
Posted: Apr 11, 2024
Ping An Insurance (Group) Co.’s trust business delayed repayment on a property-linked investment product, showing how the financial giant’s asset-management operations are still reeling from China’s prolonged real estate downturn. P...
Posted: Apr 11, 2024
Sompo has appointed Hideo Nakano as Head of Japanese Interest Accounts (JIA), Asia Pacific (APAC), with effect from April 1, 2024. In this newly created role, Nakano-san is tasked with leading the JIA teams across the APAC region to drive strategy...
Posted: Apr 11, 2024
Sayata Unveils AI-Powered Risk Engine That Flags High-Risk Accounts Sayata has launched the Sayata Risk Engine, an AI-powered platform that uses sophisticated AI to flag specific high-risk accounts expected to drive up loss ratios. Sayata’s Ris...
Posted: Apr 11, 2024
Sayata Unveils AI-Powered Risk Engine That Flags High-Risk Accounts Sayata has launched the Sayata Risk Engine, an AI-powered platform that uses sophisticated AI to flag specific high-risk accounts expected to drive up loss ratios. Sayata’s Ris...
Posted: Apr 11, 2024
Posted: Apr 11, 2024
India’s General Insurance Corporation Reinsurance (GIC Re) continues to focus on growth within its domestic portfolio following strong April 1 2024 renewals, says Ramaswamy Narayanan, Chairman & MD of GIC Re, in an interview with CNBC TV...
Posted: Apr 11, 2024
To assist property insurers in reducing losses and speeding up recovery from natural disasters, the National Association of Insurance Commissioners’ (NAIC) adopted the first-ever National Climate Resilience Strategy for Insurance. Developed und...
Posted: Apr 11, 2024
The U.S. Senate on Wednesday passed a resolution that would overturn a federal agency’s rule requiring states to measure and set declining targets for greenhouse gas emissions from vehicles using the national highway system. The Federal Highway...
Posted: Apr 11, 2024
Bermuda-headquartered energy insurer Everen Limited’s shareholders, at its Annual General Meeting (AGM), elected a new Board of Directors who will serve until March 2025. The newly elected Board convened and appointed John Weisner as the Chair of...
Posted: Apr 11, 2024
The 2023 wildfire season in the Europe was among the worst this century, according to a European Commission report published on Wednesday. Last year, more than half a million (504,002) hectares, an area twice the size of Luxembourg, was scorched R...
Posted: Apr 11, 2024
The US Federal Trade Commission is asking Congress to change the law so it can handle its own privacy settlements and other consumer protection cases that it’s currently forced to refer to the Justice Department. The DOJ has been slow-walking &...
Posted: Apr 11, 2024
Florida authorities have charged a public adjuster and a rental property tenant with fraud after they allegedly falsified documents, filed a false claim and received a check from Scottsdale Insurance Co., a Nationwide surplus lines subsidiary. The Fl...
Posted: Apr 11, 2024
Florida authorities have charged a public adjuster and a rental property tenant with fraud after they allegedly falsified documents, filed a false claim and received a check from Scottsdale Insurance Co., a Nationwide surplus lines subsidiary. The Fl...
Posted: Apr 11, 2024
The U.S. National Transportation Safety Board (NTSB) said on Wednesday it was opening an investigation into a March 3 fatal crash between a Ford F.N Mustang Mach-E and two stationary cars on the I-95 interstate highway in Philadelphia. In March, R...
Posted: Apr 11, 2024
Alliant Insurance Services acquired Vinsa Insurance Associates within its Alliant Public Entity division, expanding its footprint in California. Based in Lancaster, California, Vinsa is an independent property/casualty insurance agency that specializ...
Posted: Apr 11, 2024
U.S. National Transportation Safety Board chair Jennifer Homendy said at a Senate hearing Wednesday that investigators had conducted interviews with key cargo ship personnel in the investigation of the March 26 Baltimore bridge collapse. The Dali car...
Posted: Apr 11, 2024
Protective Life Corporation, a U.S. subsidiary of Dai-ichi Life Holdings, Inc., has revealed that its principal subsidiary, Protective Life Insurance Company, has agreed to acquire ShelterPoint Group, Inc. ShelterPoint is a provider of statutory d...
Posted: Apr 11, 2024
IC International Appoints Kim Vice President IC International, headquartered in Honolulu, appointed Nova Kim as vice president. Kim oversees the execution of IC International strategy and provides oversight of daily operations. Kim has more than 30 y...
Posted: Apr 11, 2024
A young girl and her guardian have sued an Oregon nonprofit organization, Portland Public Schools and Multnomah County for $9 million, alleging they were negligent when male classmates sexually abused her at school and raped her during an after-schoo...
Posted: Apr 11, 2024
EPA Sets First U.S. Drinking Water Standards to Limit Toxic PFAS Abou...
Posted: Apr 10, 2024
Estimates from the NHTSA also showed that traffic deaths of people ages 15 to 24 increased 6% in the first half of 2023 compared to the same period in 2022.
Posted: Apr 10, 2024
AI-driven chat bots could streamline recovery efforts and claims payouts based on comprehensive, portfolio-wide insights.
Posted: Apr 10, 2024
The April 9 release outlines concerns over bias and transparency in AI-supported decisions, particularly in underwriting.
Posted: Apr 10, 2024
The former Insurity and FIS executive will will lead and manage Earnix’s revenue generation efforts and enhance overall operational efficiency.
Posted: Apr 10, 2024
Sen. Mike Rounds (R-South Dakota), spoke to Big “I” members on the importance of keeping insurance state-regulated, the impacts of inflation, and the inevitability of artificial intelligence (AI).
Posted: Apr 10, 2024
As auto thefts rise across the country, lawmakers are considering measures to stem the tides.
Posted: Apr 10, 2024
Insurance Information Institute
For immediate release New York Press Office, Loretta Worters 917-923-8245, [email protected] NEW YORK, April 11, 2024—The economic drivers of the U.S. property/casualty (P/C) insurance industry are now growing faster than the nation’s Gross Domest...
Posted: Apr 10, 2024
The sector’s gross written premiums have been growing by 20%-30% annually since 2020.
Posted: Apr 10, 2024
Labor and employment class actions accounted for 43.4% of legal departments' class action matters in 2023 – an increase of nearly 10 percentage points from a year earlier.
Posted: Apr 10, 2024
Surowiak will define and execute an updated sales strategy and implement structures, systems, and processes to enable Previsico to achieve an ambitious growth plan.
Posted: Apr 10, 2024
The agreement brings all Trawick International travel insurance claims fully in-house, to its SureGo Administrative Services division.
Posted: Apr 10, 2024
Insurance companies are in a unique and powerful position to influence behaviors.
Posted: Apr 10, 2024
This week, the Big “I” presented several awards to the members that represent the best of the association.
Posted: Apr 10, 2024
The expanded program offers eligible MassMutual policyowners aged 35-70 access to polygenic risk testing via a saliva test that identifies hidden risk for eight common conditions.
Posted: Apr 10, 2024