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Insurers harness next-generation data models to combat wildfire risks

NU Property & Casualty 360

Next-generation wildfire data and risk models allow insurers to pinpoint localized wildfire risk and identify mitigation strategies to lower the propensity for loss.

Posted: Mar 27, 2024

Connecticut Insurance Department issues notice on use of aerial imagery in policy nonrenewal

NU Property & Casualty 360

After reviewing complaints where aerial images were relied upon to support nonrenewal, the Department found many of the images did not definitively show material roof damage.

Posted: Mar 27, 2024

Swiss Re: Global insured NAT CAT losses totaled $108B in 2023

NU Property & Casualty 360

In 2023, global insured catastrophe losses exceed $100B for the fourth consecutive year, according to Swiss Re Institute.

Posted: Mar 27, 2024

Why Documentation Will Make Sure You Never Speak to an E&O Claims Handler

IA Magazine

A well-documented agency file can mean the difference between outright vindication and a murky swearing contest that results in a lawsuit, settlement or both.

Posted: Mar 27, 2024

Zywave Expands P&C Content Offering

IIR

The vendor has added more than 150,000 new resources from AM Best, IRMI and Verisk to P&C OneSource.

Posted: Mar 27, 2024

Remote workers and employment-practices liability exposures

NU Property & Casualty 360

Employers are not immune to employment liability exposures just because some or all employees work remotely.

Posted: Mar 27, 2024

Rep. Gottheimer to Speak at 2024 Big ‘I’ Legislative Conference

IA Magazine

Rep. Josh Gottheimer (D-New Jersey) will address attendees at the Big "I" Legislative Breakfast on Thursday, April 11 in Washington, D.C.

Posted: Mar 27, 2024

Bishop Street Underwriters announces joint venture with Topsail Re

coverager

Topsail Re will be co-investing into Bishop Street.

Posted: Mar 27, 2024

Chubb launches new flood quoting platform

coverager

Agents will benefit from working directly with Chubb as a single point of contact.

Posted: Mar 27, 2024

Neil Cole promoted to Global CUO, Marine at AXA XL

Reinsurance News

AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced that it has promoted Neil Cole to the role of Global Chief Underwriting Officer (CUO), Marine, effective April 1, 2024. In the role, he...

Posted: Mar 27, 2024

Accuweather Predicts Above-Average 2024 Atlantic Hurricane Season

Insurance Journal

Accuweather meteorologists are predicting an above-average Atlantic hurricane season with as many as 20-25 named storms. The 2024 hurricane season is forecast to feature 8-12 hurricanes including 4-7 major hurricanes. This year has the potential to b...

Posted: Mar 27, 2024

People Moves: Lockton Taps Marsh’s Gill to Build Technology Specialty Practice

Insurance Journal

Lockton Taps Marsh’s Gill to Build Technology Specialty Practice Lockton, the independent insurance broker, announced that Manpreet “Preet” Gill is joining the firm’s technology specialty to build and grow a practice focused o...

Posted: Mar 27, 2024

Dairy Cattle in Texas and Kansas Test Positive for Bird Flu

Insurance Journal

Milk from dairy cows in Texas and Kansas has tested positive for bird flu, U.S. officials said Monday. Officials with the Texas Animal Health Commission confirmed the flu virus is the Type A H5N1 strain, known for decades to cause …

Posted: Mar 27, 2024

Oxbridge Re reports $9.9m net loss in fiscal year results

Reinsurance News

Oxbridge Re Holdings has reported a net loss of $9.9 million for fiscal year 2023, compared to net loss of $1.8 million in the prior year. For the year ended December 31, 2023, Oxbridge Re’s net premiums earned increased to $1,255,000 from $...

Posted: Mar 27, 2024

People Moves: Powers Insurance & Risk Management Hires Steinkoetter

Insurance Journal

Powers Insurance & Risk Management, headquartered in St. Louis, hired Josh Steinkoetter as a commercial lines sales account executive. Steinkoetter brings 20 years of experience in the insurance industry to the role. Before joining Powers, he was...

Posted: Mar 27, 2024

People Moves: Files Joins Alliant Team in Houston

Insurance Journal

Alliant Insurance Services, headquartered in Irvine, California, hired April Files as senior vice president within the Alliant Americas division. Based in Houston, Texas, Files will service industries in the Southwest and nationally. Files comes to A...

Posted: Mar 27, 2024

Corporate Class Action Defense Spending Hits $4B in 2023

Risk & Insurance

With corporate spending on class action lawsuits hitting $4 billion in 2023, labor and employment-related claims emerge as primary drivers of these cases, according to a Carlton Fields. The post

Posted: Mar 27, 2024

Corporate Class Action Defense Spending Hits $4 Billion in 2023

Risk & Insurance

With corporate spending on class action lawsuits hitting $4 billion in 2023, labor and employment-related claims emerge as primary drivers of these cases, according to a Carlton Fields. The post

Posted: Mar 27, 2024

People Moves: AXA XL Promotes Cole to Global Chief Underwriting Officer for Marine; DUAL’s Specialis...

Insurance Journal

This edition of International People Moves details appointments at AXA XL and DUAL’s specialist motor MGA KGM. A summary of these new hires follows here. AXA XL Promotes Cole to Global Chief Underwriting Officer for Marine AXA XL has promoted &...

Posted: Mar 27, 2024

Two Iowa Men Sentenced in Workers’ Comp Fraud Scheme

Insurance Journal

Two Iowa men were sentenced this month in connection with workers’ compensation fraud. Trey Wysocki, age 40, of New Virginia was sentenced on March 11, 2024, after pleading guilty to one count of Insurance Fraud – Presenting False Informa...

Posted: Mar 27, 2024

Bridge Collapse Will Add to Reinsurance Challenges: AM Best

Carrier Management

Bridge Collapse Will Add to Reinsurance Challenges: AM Best "Re...

Posted: Mar 27, 2024

Florida Insurers Post a Profit for First Time in 7 Years

Carrier Management

Florida Insurers Post a Profit for First Time in 7 Years Florida insurance companies made money last ye...

Posted: Mar 27, 2024

Tesla Shares Rise as U.S. Customers Offered Full Self-Driving Software Trial

Carrier Management

Tesla Shares Rise as U.S. Customers Offered Full Self-Driving Soft...

Posted: Mar 27, 2024

Gen Z’s Financial Goals Align With Traditional Benefits

Carrier Management

Gen Z’s Financial Goals Align With Traditional Benefits New research from The...

Posted: Mar 27, 2024

Baltimore bridge may be largest example of port blockage seen by insurers in years: Horn, McGill and...

Reinsurance News

Exactly how long the Port of Baltimore is closed to ships after yesterday’s collision and the subsequent collapse of the Francis Scott Key Bridge is unclear, but according to Julien Horn, Partner – Ports & Terminals and Logistics a...

Posted: Mar 27, 2024

Disney Ends Fight With Governor DeSantis by Settling Florida Lawsuit

Insurance Journal

A board appointed by Ron DeSantis to oversee the municipal authority that governs Walt Disney Co. in Florida has voted to settle a state lawsuit against the company. The board of the Central Florida Tourism Oversight District unanimously approved a &...

Posted: Mar 27, 2024

Bishop Street in joint venture with Topsail Re to advance differentiated MGA platform

Reinsurance News

Bishop Street, a RedBird Capital Partners portfolio company, has announced a joint venture with Topsail Re, a privately held reinsurer, to support growth of its differentiated Managing General Agents (MGA) platform. Through this partnership, Topsa...

Posted: Mar 27, 2024

Canada’s Desjardins Acquires Insurance Company of Prince Edward Island

Insurance Journal

Canada-based Desjardins, through its subsidiary Desjardins General Insurance Group Inc., and ICPEI Holdings Inc. announced they have entered into definitive agreements for Desjardins to indirectly acquire all of ICPEI’s issued and outstanding s...

Posted: Mar 27, 2024