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Active Re, a provider of reinsurance solutions for financial institutions, has announced the promotion of Robert Ali to the position of Chief Operating Officer (COO). In his new capacity, Ali will maintain his role as a key advocate and leader in...
Posted: Apr 08, 2024
Florida’s property insurer of last resort, Citizens Property Insurance Corporation, aims to secure reinsurance coverage of approximately $5.5 billion across a sliver and core layer, as part of its 2024 risk transfer program. As we wrote previously...
Posted: Apr 08, 2024
Greece is investing €2.1 billion ($2.27 billion) to protect the nation from natural disasters caused by climate change as wildfires are already breaking out ahead of fire season, which normally starts in May. The Aegis program is the first of …
Posted: Apr 08, 2024
BAY ST. LOUIS, Miss. (AP) — Eleven people were injured when a bus carrying University of South Carolina students blew a tire and hit a concrete barrier in Mississippi. Mississippi state troopers said the driver and a student were critically …
Posted: Apr 08, 2024
Climate insurer kWh Analytics, Inc. has raised capacity with Aspen Insurance to support its property insurance offering for renewable energy projects to fight climate change. With this increase, kWh Analytics is able to underwrite up to USD$75 mil...
Posted: Apr 08, 2024
Women Lost C-Suite Seats in Corporate America, S&P Says Women's...
Posted: Apr 08, 2024
More than 150,000 Xcel Energy Inc. customers in Colorado are without electricity amid hurricane-force winds — and some may not get power back until Monday. Those affected include about 55,000 customers who had their power cut preemptively by the util...
Posted: Apr 08, 2024
James River Group Holdings has announced that the Supreme Court, New York County, Commercial Division has issued an order directing Fleming Intermediate Holdings to complete its acquisition of JRG Reinsurance Company (JRG Re) by April 16, 2024. Th...
Posted: Apr 08, 2024
A former Maryland title insurance agent recently pleaded guilty to carrying out a multi-year theft scheme netting her more than $369,000, according to the state attorney general. Cheryl Leigh Gray was a licensed insurance producer working as the oper...
Posted: Apr 08, 2024
Insurance Business Magazine - US
Posted: Apr 08, 2024
Insurance Business Magazine - US
Posted: Apr 08, 2024
Insurance Business Magazine - US
Posted: Apr 08, 2024
The National Association of Insurance Commissioners’ (NAIC) Membership has adopted the first-ever National Climate Resilience Strategy for Insurance to protect the nation’s property insurance market by closing coverage gaps and improvi...
Posted: Apr 08, 2024
Some of Britain’s top financial firms pay women 28.8% less on average than male counterparts, salary data from 21 companies reviewed by Reuters shows, even though they say they are striving to hire more females for higher-paid, senior roles. Ba...
Posted: Apr 08, 2024
Munich Re Automation Solutions has revealed that American Family Life Insurance Company is adopting its cloud-based automated underwriting and analytics solution, ALLFINANZ NOVA. ALLFINANZ NOVA is Munich Re Automation Solutions’ SaaS platfor...
Posted: Apr 08, 2024
An engine cover on a Southwest Airlines Boeing 737-800 fell off on Sunday during takeoff in Denver and struck the wing flap, prompting the Federal Aviation Administration (FAA) to open an investigation. No one was injured and Southwest Flight 3695 &#...
Posted: Apr 08, 2024
Global data analytics and technology provider Verisk has launched its Next Generation Models (NGM), which will be implemented by insurers and reinsurers to evaluate risks and anticipate insured losses from extreme events more accurately. According...
Posted: Apr 08, 2024
Consilium, the global specialty re/insurance broking arm of the Aventum Group, has appointed two seasoned veterans from the property and casualty (P&C) industry to enhance expertise within this division. James Williams, an experienced broker,...
Posted: Apr 08, 2024
Owning a home can feel like risky business, from coming up with the mortgage payment every month to worrying about disasters like fires or floods or tornadoes. But here is something riskier still: Going without home insurance in the U.S. …
Posted: Apr 08, 2024
Bermuda-based re/insurer Lancashire Holdings has announced the official opening of its Lancashire Insurance US (LUS) business, with Huw Jones, previously Group Head of Specialty Insurance, named Chief Executive Officer (CEO) of LUS. LUS will condu...
Posted: Apr 08, 2024
The Hartford joins a growing-list of insurers that have withdrawn from California's homeowners insurance market. The post
Posted: Apr 08, 2024
Zurich Insurance Group AG will no longer underwrite new oil and gas projects, and is cracking down on clients planning to expand in metallurgical coal mining. The restrictions also entail asking the highest-emitting corporate customers to reduce thei...
Posted: Apr 08, 2024
The dedicated capital of the global reinsurance industry increased 12% year-on-year to $729 billion in 2023, driven by improved profitability in the year, according to Gallagher Re’s latest Reinsurance Market Report. This marks the highest level s...
Posted: Apr 08, 2024
Challenges are emerging in the hybrid work environment. The post Hybrid Work, Hybrid Risks: Safeguarding Data in t...
Posted: Apr 08, 2024
According to CoreLogic, the global provider of property information, analytics, and data-enabled solutions, the recent M4.8 earthquake that occurred in Hunterdon County, New Jersey serves as a reminder that low risk does not mean no risk. Although...
Posted: Apr 08, 2024
Bayer AG’s Monsanto unit persuaded a Missouri judge to cut almost $1 billion from a $1.5 billion jury verdict that was one of the largest in the six years the company has been fighting thousands of claims that its Roundup …
Posted: Apr 08, 2024
German software developer Andres Freund was running some detailed performance tests last month when he noticed odd behavior in a little-known program. What he found when he investigated has sent shudders across the software world and drawn attention...
Posted: Apr 08, 2024
Antares Syndicate 1274, the re/insurance subsidiary in the Lloyd’s market of QIC’s Antares Global, has launched a consortium for the underwriting of credit and political risk insurance. The consortium, already actively considering subm...
Posted: Apr 08, 2024
Does government inaction on climate change violate human rights? That is the question the European Court of Human Rights will for the first time seek to answer in Strasbourg, France, as it rules this week on three separate climate cases. …
Posted: Apr 08, 2024
UK-based Scribestar, a legal and regulatory technology company, has announced the rollout of its unique platform solution tailored for the global reinsurance and ILS (Insurance-Linked-Securities) market. With this solution, Scribestar aims to prov...
Posted: Apr 08, 2024
As per Gallagher Re’s biannual Reinsurance Market Report, the global reinsurance industry’s underlying ROE was above the cost of capital for the second consecutive year in 2023, improving to 14.3% from 12% in 2022, mainly due to lower combin...
Posted: Apr 08, 2024
Posted: Apr 08, 2024
The Federal National Mortgage Association (Fannie Mae) has executed two new Credit Insurance Risk Transfer (CIRT) transactions transferring $709 million of mortgage credit risk to private insurers and reinsurers. Rob Schaefer, Vice President, Capi...
Posted: Apr 08, 2024
The Centre for Disaster Protection has been selected as the Coordinator for the Technical Advisory Group (TAG) of the Global Shield against Climate Risks. According to the announcement, the Centre will collaborate with a group of experts supportin...
Posted: Apr 08, 2024
Malakut, an international group of re/insurance brokers, has recently appointed Sogo Yasuda as the Chief Commercial Officer (CCO) of Japanese Business, a newly established department aimed at integrating Japanese insurance brokerage services globa...
Posted: Apr 08, 2024
Toronto-based specialty insurer and part of reinsurer Munich Re, HSB Canada, has appointed Barbara Bellissimo as its new President and Chief Executive Officer (CEO), effective April 1st, 2024. She succeeds John Mulvihill, who has retired after a s...
Posted: Apr 08, 2024
PENSACOLA, Fla. (AP) — A wildfire in the Florida Panhandle has destroyed a home and damaged at least 15 others. The Florida Forest Service said Friday that the blaze, which broke out Thursday near Pensacola, was now more than 60% …
Posted: Apr 08, 2024
DORAL, Fla. (AP) — A gunfight at a suburban Miami bar left two people dead and seven injured early Saturday. Investigators said a fight between customers broke out around 3:30 a.m. at the Martini Bar in the CityPlace Doral development …
Posted: Apr 08, 2024
With one month left in the South Carolina legislative session, two bills designed to ease liquor liability insurance costs are evolving and moving forward. The state House of Representatives late last month voted 106-2 to approve House Bill 5066, whi...
Posted: Apr 08, 2024
The California Labor Commissioner’s Office reached a $2 million settlement against Pearl B-Star Inc., DBA Lin’s Fusion for underpaying 32 workers. Pearl B-Star violated state labor laws governing recordkeeping, payroll timekeeping and cas...
Posted: Apr 08, 2024
The California Labor Commissioner’s Office reached a $2 million settlement against Pearl B-Star Inc., DBA Lin’s Fusion for underpaying 32 workers. Pearl B-Star violated state labor laws governing recordkeeping, payroll timekeeping and cas...
Posted: Apr 08, 2024
A tractor-trailer in Maine crashed into a freight train, causing two cars to derail and injuring the truck’s driver and his dog, which had to be put down. The crash happened shortly before 1:30 p.m. Wednesday on Route 11 in …
Posted: Apr 08, 2024
A report from the Colorado Chamber of Commerce and the American Property Casualty Insurance Association estimates a proposal to remove the noneconomic damage caps in Colorado would result in a $2.1 billion annual loss in state GDP and 15,500 jobs. &#...
Posted: Apr 08, 2024
Frustrated at having unsuccessfully agitated for over three years to get lawmakers to ban smoking in Atlantic City casinos, workers on Friday tried a new tactic. They filed a lawsuit to try to overturn a law that leaves casino workers …
Posted: Apr 08, 2024