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Insurance Business Magazine - US
Posted: Mar 26, 2024
Insurance Business Magazine - US
Posted: Mar 26, 2024
Seeing cars and trucks as likely targets for hackers and cyber thieves, specialty insurer HSB has introduced Cyber for Auto, a new coverage aimed at helping consumers respond to new exposures. According to HSB, passenger vehicles built after 2020,...
Posted: Mar 26, 2024
Atlas Insurance has named Jared Hawkins and Michael Howard partners in the Sarasota-based agency. Howard is a third-generation insurance agent at the firm and Hawkins is a second-generation agent who specializes in construction coverage, the Sarasota...
Posted: Mar 26, 2024
Baltimore Mayor Brandon M. Scott has declared a state of emergency in Baltimore City in response to the Francis Scott Key Bridge collapse incident that took place this morning. The declaration mobilizes Baltimore’s emergency resources to protec...
Posted: Mar 26, 2024
Baltimore Mayor Brandon M. Scott has declared a state of emergency in Baltimore City in response to the Francis Scott Key Bridge collapse incident that took place this morning. The declaration mobilizes Baltimore’s emergency resources to protec...
Posted: Mar 26, 2024
Independent insurance broker Lockton has announced Manpreet Gill is joining its technology specialty to build and grow a practice focused on developing creative solutions to address a variety of technology-related risks for businesses. Gill brings...
Posted: Mar 26, 2024
Marsh, the insurance broker and risk advisor subsidiary of Marsh McLennan, has launched a new global insurance facility providing coverage up to $825 million for digital asset custodians. Developed by Marsh Specialty’s Digital Asset team, this fac...
Posted: Mar 26, 2024
Managing general agency (MGA) Sertis has completed an oversubscribed seed funding round, raising $3.2 million for further growth in the multifamily insurance sector. The seed funding round, the MGA highlighted, demonstrates recognition from the in...
Posted: Mar 26, 2024
The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that the industry posted a $21.2 bi...
Posted: Mar 26, 2024
The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that the industry posted a $21.2 bi...
Posted: Mar 26, 2024
The California FAIR Plan Association (FAIR Plan) has experienced historic growth in recent years, as data shows its total exposure has nearly tripled with continued policy growth. This last resort property insurer is dedicated to ensuring that all...
Posted: Mar 26, 2024
The business decisions you make are only as good as the data you use to make them. But when it comes to insurance, what distinguishes the good data from the bad?
Posted: Mar 26, 2024
The five (or at least four) tenets of a popular feedback model may fall short for motivating mentees [M]entors, even managers, who sandwich criticism between positive nuggets think they’re providing a black pearl in the heart of an oyster. In realit...
Posted: Mar 26, 2024
Robert L. Carey was sworn in as Maine superintendent of insurance on February 28 after being confirmed by the state Senate. Carey brings over two decades of experience advising state regulators and lawmakers on insurance policy, markets, and regulati...
Posted: Mar 26, 2024
Robert L. Carey was sworn in as Maine superintendent of insurance on February 28 after being confirmed by the state Senate. Carey brings more than two decades of experience advising state regulators and lawmakers on insurance policy, markets, and reg...
Posted: Mar 26, 2024
Hannover Re will combine its global business in the areas of cyber and digital, creating a new specialty reinsurance business unit, effective April 1, 2024. Hannover Re said the new business unit aims to enhance Hannover Re’s position as a R...
Posted: Mar 26, 2024
A major bridge collapsed in the U.S. port of Baltimore in the early hours of Tuesday after being struck by a container ship, plunging cars into the river below. Traffic was suspended at the port until further notice, Maryland transportation …
Posted: Mar 26, 2024
Enstar Group has revealed that S&P Global Ratings has assigned an Insurer Financial Strength Rating of ‘A’ with a stable outlook to its Bermuda-based, wholly-owned subsidiary, Cavello Bay Reinsurance Limited. Matthew Kirk, Enstar’s Chief Finan...
Posted: Mar 26, 2024
Marsh, the insurance broker, risk adviser and a unit of Marsh McLennan, announced the launch of an insurance facility for custodians of digital assets, including financial institutions. The largest facility of its kind, it provides insurance capacity...
Posted: Mar 26, 2024
Global Fintech company Acrisure has announced the formation of its New England Region, to be led by Paul Plunkett as Managing Partner. The new region will encompass its businesses in Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island a...
Posted: Mar 26, 2024
A major commuter bridge in Baltimore collapsed after being rammed by a container ship, causing vehicles to plunge into the water and threatening chaos at one of the most important ports on the US East Coast. Baltimore Fire Chief James …
Posted: Mar 26, 2024
Industrial insurer HDI Global SE, part of the Talanx Group, has reported insurance revenue increased by 10% in 2023, reaching €9.1 billion, while its combined ratio improved to 91.5%. HDI Global noted that the growth in insurance revenue was prima...
Posted: Mar 26, 2024
The Swiss Re Institute has revealed that global insured losses from natural catastrophes exceeded $100 billion for the fourth consecutive year in 2023, with the earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban f...
Posted: Mar 26, 2024
The 5th Circuit Court of Appeals ruled last week that Chubb must cover restitution claims paid to ticket holders of the 2020 South by Southwest film festival cancelled due to COVID-19. A three-judge panel reversed a summary judgment in favor …
Posted: Mar 26, 2024
The insurance industry — which is facing an exodus of older workers over the next few years — must adapt its talent assessment and development strategies to better attract, nurture and retain the next generation of professionals. The post
Posted: Mar 26, 2024
MS Amlin, the Lloyd’s global re/insurer, has announced the appointment of Sam Phibbs as its new Head of Catastrophe Research, reporting to Head of Risk Analytics, Jessica Turner. Phibbs’ remit in the new role will include overseeing the synd...
Posted: Mar 26, 2024
Global reinsurer Hannover Re has announced it will combine its global business in the areas of cyber and digital, creating a new specialty reinsurance business unit, effective from the 1st of April 2024. According to Hannover Re, the new business...
Posted: Mar 26, 2024
Specialty insurer Newline Group has expanded into Sydney with the opening of Newline Australia Insurance Pty Ltd, and has named Nicholas Beswick as Head of Professional Indemnity. “Establishing offices in key territories is part of our ongoing str...
Posted: Mar 26, 2024
Sompo International Holdings Ltd., a global property and casualty re/insurer, has joined The Association of Bermuda Insurers and Reinsurers (ABIR), increasing the number of members to 32 carriers and four intermediaries. The re/insurer’s entry was...
Posted: Mar 26, 2024
Ahem. Results for the U.S. P/C Industry...
Posted: Mar 26, 2024
Insurance Business Magazine - US
Posted: Mar 26, 2024
Bermuda-based reinsurer PartnerRe Ltd. has announced a non-life combined ratio of 81.6% for full year 2023, as the underwriting result hit $1.1 billion, while the life and health (L&H) allocated underwriting result amounted to $159 million. On...
Posted: Mar 26, 2024
FM Global, a commercial property insurer, has recently released its 2024 Resilience Index, highlighting the rapidly evolving nature of risks confronting global businesses with the addition of six new resilience factors. The FM Global Resilience in...
Posted: Mar 26, 2024
Verisk, a global data analytics and technology provider, has strategically integrated with Seek Now, a claims inspection service provider and business intelligence solution in residential and commercial property insurance. This integration aims to...
Posted: Mar 26, 2024
Marsh, the insurance broker and risk advisor subsidiary of Marsh McLennan, has reported that despite the slowest annual period for US dealmaking in six years, its North America team successfully placed 1,046 transactional risk policies. The broker...
Posted: Mar 26, 2024
A U.S. judge on Monday threw out Elon Musk’s lawsuit against a nonprofit group that faulted him for allowing a rise in hate speech on his social media platform X, formerly Twitter. U.S. District Judge Charles Breyer in San Francisco …
Posted: Mar 26, 2024
Apple has been hit with a flurry of new consumer lawsuits accusing the iPhone maker of monopolizing the smartphone market, piggybacking on a sweeping antitrust case lodged by the U.S. Justice Department and 15 states last week. At least three …
Posted: Mar 26, 2024
North Carolinians can no longer stack underinsured motorist policies to compare to liability limits in order to boost the amount of coverage in an accident, the state Supreme Court said last week in a decision that overturns 30 years of …
Posted: Mar 26, 2024
North Carolinians can no longer stack underinsured motorist policies to compare to liability limits in order to boost the amount of coverage in an accident, the state Supreme Court said last week in a decision that overturns 30 years of …
Posted: Mar 26, 2024
U.S. and British officials on Monday filed charges, imposed sanctions, and accused Beijing of a sweeping cyberespionage campaign that allegedly hit millions of people including lawmakers, academics and journalists, and companies including defense con...
Posted: Mar 26, 2024