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SageSure, a managing general underwriter focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (SURE) have announced the close of the Gateway Re 2024-1 catastrophe bond at $250 million. According to SageSure, this...
Posted: Mar 27, 2024
To date, Champ Titles has raised more than $45 million.
Posted: Mar 27, 2024
The new practice will offer bespoke insurance coverages that provide protection for both company assets and third-party liabilities.
Posted: Mar 27, 2024
Agents will benefit from working directly with Chubb as a single point of contact.
Posted: Mar 27, 2024
Corvus Insurance, a cyber speciality insurer, has improved its policy renewal process by introducing an application-free, click-and-bind option for eligible accounts. This update will significantly reduce brokers’ time spent on cyber renewal...
Posted: Mar 27, 2024
Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher...
Posted: Mar 27, 2024
Global Insured Nat Cat Losses Top $100B for Fourth Straight Year: Swiss Re Global ins...
Posted: Mar 27, 2024
Thousands of Southern California hospitality workers overwhelmingly ratified a new contract with 34 hotels after repeated strikes since the summer, their union announced. Workers won higher pay, increased employer contributions to pensions, and fair...
Posted: Mar 27, 2024
Pharmacy chain Rite Aid has reached a settlement with its lenders, the U.S. Department of Justice, and drug supplier McKesson Corp., clearing a path for Rite Aid to complete its bankruptcy case by late April, a company lawyer said Tuesday. …
Posted: Mar 27, 2024
According to the Louisiana Department of Insurance Commissioner, Tim Temple, the state must modernise its regulatory framework and fix its broken legal environment to prevent its ongoing insurance crisis from getting worse. Temple observed in a re...
Posted: Mar 27, 2024
The German operations of global reinsurer SCOR has partnered with DGTAL, to launch a pilot using the DRILLER platform and its claims assessment function for the assessment of disability claims starting in April 2024. An AI-powered portfolio tool,...
Posted: Mar 27, 2024
FORT LAUDERDALE, Fla. (AP) — Two crew members on a Holland America cruise ship died during an “incident” in the ship’s engineering space, the cruise line said. The unidentified crew members died Friday while the Florida-based Nieuw...
Posted: Mar 27, 2024
Active cyber insurance provider Coalition has added a new Affirmative Artificial Intelligence (AI) Endorsement to clarify what is covered by the company’s US Surplus and Canada Cyber Insurance policies. According to the announcement, the end...
Posted: Mar 27, 2024
Subaru of America is recalling 118,723 SUVs and sedans in the U.S. over an issue which prevents air bags from deploying in a crash, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday. The recall covers certain Outback and &#...
Posted: Mar 27, 2024
The FBI has told passengers on the Alaska Airlines Boeing 737 Max that lost a door-plug panel in midflight that they might be victims of a crime. “I’m contacting you because we have identified you as a possible victim of …
Posted: Mar 27, 2024
As per research conducted by PwC UK, global non-life run-off reserves are estimated to have reached $1.014 trillion, marking a $53 billion increase since its last survey published in September of 2022. Respondents to PwC UK’s recent survey of non-...
Posted: Mar 27, 2024
Verisk Speciality Business Solutions (Verisk SBS), a re/insurance software specialist, has recently announced the appointment of Taha Ahmed to the senior position of Director of Pricing Solutions. In this newly established position, Ahmed will ove...
Posted: Mar 27, 2024
A few years before a 2023 cyberattack disrupted manufacturing at one of the largest US producers of disinfectants ahead of flu season, an audit warned of systemic cybersecurity flaws within the company’s production systems. Among the shortcomin...
Posted: Mar 27, 2024
Brit Ltd., a global speciality re/insurer and subsidiary of Fairfax Financial Holdings Limited, has reported a combined ratio for the full year 2023 for continuing business after discounting of 76.2%, a solid improvement on 2022’s 88.5%, as the in...
Posted: Mar 27, 2024
WTW, a global re/insurance broker, has recently partnered with the University of Geneva to assess global systemic risks arising from large volcanic eruptions. This collaboration aims to assist WTW and its clients in anticipating the potential impa...
Posted: Mar 27, 2024
The collapse of the Francis Scott Key Bridge near the Port of Baltimore, Maryland yesterday is expected to drive billions of dollars in insured losses, with reinsurers set to bear the bulk of the claim amid concerns it could become the largest eve...
Posted: Mar 27, 2024
Acrisure announced the formation of its New England region, encompassing its businesses in Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont. Acrisure’s New England presence includes 27 office locations, with nearly 400...
Posted: Mar 27, 2024
London UK, March 27th — 2024 is set to be another tough year for insurance executives. Costs are spiraling, competition is fierce, and historical trends are out the window. The pressure to keep pace with evolving macroeconomic trends and unsett...
Posted: Mar 27, 2024
As skiers glide down the slopes of British Columbia’s Whistler Mountain and ice fishers drop their lines into frozen lakes in Alberta, dozens of the fires whose smoke darkened North America’s skies last year are still burning — with some...
Posted: Mar 27, 2024
Howden, a global re/insurance broker, has outlined concerns regarding reserves stemming from unexpected rises in claims costs and higher inflation. Wolfram Schultz, Head of Casualty for Continental Europe at Howden Tiger, shares his insights on re...
Posted: Mar 27, 2024
Posted: Mar 27, 2024
Specialty insurance carrier Relm Insurance has hired Chris Sinkey as Chief Operating Officer, a newly created role. Sinkey reportedly holds 20 years of experience in strategy, product, corporate development, marketing, and business development acr...
Posted: Mar 27, 2024
As many as 8 million UK workers are at risk of losing their jobs to artificial intelligence with current government policy, the Institute for Public Policy Research warned. AI already impacts 11% of tasks done by UK staff, a figure …
Posted: Mar 27, 2024
Pool Re, a British government-backed terrorism reinsurer, has announced that its members and HM Treasury have backed the formal proposals from its Board to transform the current Pool Re scheme after more than two years of engagement and consultati...
Posted: Mar 27, 2024
The owner of the ship that rammed into a Baltimore bridge could face hundreds of millions of dollars in damage claims after the accident sent vehicles plunging into the water and threw the eastern US transportation network into chaos. But …
Posted: Mar 27, 2024
Home insurance firm Hippo’s First Connect Insurance Services, a digital platform for independent agents to provide access to top carriers, has strategically partnered with Hiscox USA, and subsequently hit the 100-carrier and MGA milestone. H...
Posted: Mar 27, 2024
Berkshire Hathaway Specialty Insurance (BHSI), the property & casualty insurer, has promoted Daniela Peeters to Head of Customer & Broker Engagement in Germany. Peeters, who joined the organisation in 2023, previously served as Customer &#...
Posted: Mar 27, 2024
The US Securities and Exchange Commission is asking tech and telecom companies how they handled the sprawling 2020 SolarWinds cyberattack, and drawing fire from the cybersecurity industry and big business for what they call overreach. The SEC, which...
Posted: Mar 27, 2024
Editor’s note: Captive insurance programs have blossomed in a number of Southern states in recent years, including Tennessee and North Carolina. But new questions have been raised about whether some micro-captives are used as tax shelters, and...
Posted: Mar 27, 2024
Editor’s note: Captive insurance programs have blossomed in a number of Southern states in recent years, including Tennessee and North Carolina. But new questions have been raised about whether some micro-captives are used as tax shelters, and...
Posted: Mar 27, 2024
The North Carolina Supreme Court has undone rulings by an appeals court and the state’s Industrial Commission that had granted workers’ compensation insurance payments for a woman’s weight-loss surgery. And in doing that, the high c...
Posted: Mar 27, 2024
Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? Insurance Journal is searching for young insurance agents to participate in this year’s Young Insurance Agents Opinion Survey. Tell us what you ̷...
Posted: Mar 27, 2024
The 1.6 mile-long bridge collapsed in a matter of seconds. The catastrophic consequences are set to stretch out for weeks. As much as 2.5 million tons of coal, hundreds of cars made by Ford Motor Co., and General Motors Co., …
Posted: Mar 27, 2024
One of the most pressing challenges facing insurance professionals today is the escalating impact of extreme weather events in traditionally disaster-prone areas. Last year alone, the U.S. witnessed a staggering $92.9 billion in weather-related damag...
Posted: Mar 27, 2024
The Liberty Company Insurance Brokers named Christopher Orozco an employee benefits producer. Orozco will be based in California. Orozco got his start in the mail room at Warner Pacific in 2013, then transitioned from the supply department to rating...
Posted: Mar 27, 2024
The federal Occupational Safety and Health Administration (OSHA) says that a second inspection of Dean Sausage Co. Inc. in Ayyalia, Alabama found similar workplace safety hazards as identified in a 2022 inspection, prompting the agency to propose $11...
Posted: Mar 27, 2024
Hawaii’s attorney general blamed a delay of the release of a key report into a deadly Maui wildfire on county agencies that forced investigators to issue subpoenas. The first phase of an independent investigation into the Aug. 8 fire that ̷...
Posted: Mar 27, 2024
Houston plans to sell more than $1 billion in bonds to settle a firefighters’ pay dispute and the city’s chief financial officer is warning it will swell the annual budget shortfall by as much as 75%. The fourth-largest US city …
Posted: Mar 26, 2024
For agents, roadside assistance policies offered by carriers present an opportunity to deliver a superior level of service and support to auto clients.
Posted: Mar 26, 2024
One-third of homeowners with internet say they would switch to a new insurer to get smart home devices for safety and security.
Posted: Mar 26, 2024