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According to analysts at Fitch Ratings, the combination of a strong earnings generation, the stabilisation of financial markets, and the move to the accounting standard IFRS17 of major reinsurers, has led to a “strong recovery” in rein...
Posted: Mar 01, 2024
Georgia legislation that could have a significant impact on insurance litigation and losses for transportation-related businesses are moving forward in the state General Assembly. The Georgia House of Representatives late last month approved House Bi...
Posted: Mar 01, 2024
A dispute between an insurer and a yacht owner went all the way to the U.S. Supreme Court with a decision recently—the first of its kind on marine insurance in about 70 years—to clarify federal maritime law and state insurance …
Posted: Mar 01, 2024
The worst-ever Texas wildfire sent shares of Xcel Energy Inc. plunging after a law firm said it might be linked to the disaster, the latest sign that potential ties between power companies and blazes are triggering volatility in once-sleepy utility &...
Posted: Mar 01, 2024
This edition of International People Moves details appointments at the re/insurer AXIS Capital Holdings and insurance broker Miller. A summary of these new hires follows here. AXIS Promotes Ashby to Chief Commercial Officer AXIS Capital Holdings Ltd....
Posted: Mar 01, 2024
Insurers are said to be facing a “significant risk” with regards to data privacy, which could be aggravated further by the widespread adoption of artificial intelligence (AI). However, the processing of extensive quantities of personal...
Posted: Mar 01, 2024
Insurance Business Magazine - US
Posted: Mar 01, 2024
Insurance Business Magazine - US
Posted: Mar 01, 2024
Insurance Business Magazine - US
Posted: Mar 01, 2024
Insurance Business Magazine - US
Posted: Mar 01, 2024
The program will go into effect for an extended 15-month term.
Posted: Mar 01, 2024
Travelers will be able to add the coverage for their devices when purchasing their travel insurance.
Posted: Mar 01, 2024
Tigerless Insurance serves people living in the US with different visas.
Posted: Mar 01, 2024
Ashby joined AXIS in 2014 as Head of US Distribution for its insurance business.
Posted: Mar 01, 2024
Brazilian reinsurer IRB (Re) has reported its best underwriting result since 2019, as an improved portfolio performance on the back of better pricing and exposure reduction resulted in underwriting profit of approximately USD 31 million (R$ 155m)...
Posted: Mar 01, 2024
New York-based hedge fund J. Goldman & Co. signed a lease at a new Miami Beach office building that’s seeking some of the highest rents ever seen in the market. J. Goldman agreed to take roughly 10,000 square feet (929 …
Posted: Mar 01, 2024
CHICAGO (AP) — The sisters of a man fatally shot in his home this month by suburban Chicago police filed a federal lawsuit Wednesday against the officers and their department, alleging wrongful death and other counts. Kyenna McConico and Kennetha ...
Posted: Mar 01, 2024
FRITCH — A blanket of snow and rain that descended over the Texas Panhandle on Thursday helped firefighters to quell the spread of the largest wildfire in the state’s history, which has engulfed more than 1 million acres of land …
Posted: Mar 01, 2024
A newly released report on a fatal crash involving a pickup truck and a group of cyclists last year near Phoenix, Ariona, casts doubt about the driver’s claim that the vehicle’s steering locked up. The National Transportation Safety Board...
Posted: Mar 01, 2024
A newly released report on a fatal crash involving a pickup truck and a group of cyclists last year near Phoenix, Ariona, casts doubt about the driver’s claim that the vehicle’s steering locked up. The National Transportation Safety Board...
Posted: Mar 01, 2024
Technology is disrupting the claims and litigation management environment in exciting ways. The post CLM Panel Explor...
Posted: Mar 01, 2024
Swiss Re Institute has raised its forecast for US economic growth in 2024 to 2.2%, citing significant “carry-over effects” from the previous year’s strong performance. This revision reflects a statistical phenomenon where prior y...
Posted: Mar 01, 2024
Specialty property insurer Palomar Holdings has added Thomas Bradley to the company’s Board of Directors. Commenting on his appointment, Bradley said: “I am excited for the opportunity to join Palomar’s distinguished Board. I look forward to helpi...
Posted: Mar 01, 2024
New York’s highest court has put contractors and property owners on notice that they are responsible for slippery surfaces caused by substances that might be very different than the substances they typically worry about as creating a slip and f...
Posted: Mar 01, 2024
Marsh McLennan, headquartered in New York, appointed David Liston as U.S. and Canada chief commercial officer (CCO) effective immediately. Liston previously served as Marsh U.S. and Canada corporate segment leader, and recently had an expanded role a...
Posted: Mar 01, 2024
Lockton expects a positive rate environment to continue in the first half of 2024, despite 1.1 renewal activity suggesting the reinsurance market is stabilising following difficult treaty renewals a year earlier. Rates for reinsurance catastrophe...
Posted: Mar 01, 2024
Last year was the safest ever for commercial flying by a number of measures, the airline industry’s global lobby said, with no fatal accidents involving passenger jets in 37.7 million flights. No hull losses to passenger jets were recorded eith...
Posted: Mar 01, 2024
Marsh McLennan, a re/insurance broker, in collaboration with the Ukrainian government and Lloyd’s, announced the expansion of its Unity insurance facility (Unity) to now cover war risk insurance for ships carrying all non-military cargo. Initially...
Posted: Mar 01, 2024
Insurance broker Marsh McLennan, the Ukrainian government and Lloyd’s have announced a major expansion of the Unity insurance facility – a public-private partnership originally launched in November 2023 to provide war risk insurance for grain s...
Posted: Mar 01, 2024
According to Aon, the Smokehouse Creek Fire in Texas has already burned more than a million acres, becoming one of the largest fires in recorded state history and potentially contributing to total aggregate losses in the hundreds of millions USD....
Posted: Mar 01, 2024
According to Aon, the Smokehouse Creek Fire in Texas has already burned more than a million acres, becoming one of the largest fires in recorded state history and potentially contributing to total aggregate losses in the hundreds of millions USD....
Posted: Mar 01, 2024
The program will go into effect for an extended 15-month term.
Posted: Mar 01, 2024
When State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant’s history. A year later, and another record. The underwriting loss figure climbed to $14 billion for 2023, with a nearly …
Posted: Mar 01, 2024
A year after recording the largest underwriting loss in the company’s 100-year history, State Farm eclipsed it in 2023. The underwriting loss figure climbed to $14 billion for 2023, with a nearly $5 billion underwriting loss for property lines...
Posted: Mar 01, 2024
FG Financial Group, Inc. (FG Financial) and FG Group Holdings Inc. (FG Group Holdings) have completed the previously announced merger pursuant to which FG Group Holdings merged with and into FG Group LLC, with FG Group LLC surviving as a wholly-ow...
Posted: Mar 01, 2024
After a lull in 2023, Deloitte predicts a resurgence in insurance M&A activity in 2024, driven by private equity and external investments. The post
Posted: Mar 01, 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has made two strategic senior appointments, including the promotion of Mark Steddon to Head of Crisis Management, UK & Lloyd’s and GCUO. Steddon previously served as...
Posted: Mar 01, 2024
The UK has become a hotbed for mergers and acquisitions this year as dealmakers hunt for bargains in the country’s underperforming stock market. Direct Line Insurance Group Plc and electronics retailer Currys Plc both rejected bids from oversea...
Posted: Mar 01, 2024
In its preliminary results, International General Insurance (IGI) has revealed that full year 2023 net income will reach $118.2 million, up from $89.2 million in 2022. IGI also anticipates an increase in gross written premiums to $688.7 million fo...
Posted: Mar 01, 2024
Insureds are increasingly relying on captives, parametric products, and flood and fire defenses in today’s market. The post
Posted: Mar 01, 2024
Climate change is particularly perilous for small farmers. Warmer conditions are resulting in more damaging bouts of rain and drought, but traditional crop insurance products are often unavailable or financially out of reach. In Africa, 99% of smallh...
Posted: Mar 01, 2024
Taiwan’s military said hackers sold data stolen from the island’s biggest telecom company on the internet, the latest challenge to the democratically run island’s cybersecurity. The leaked documents that related to the military didn...
Posted: Mar 01, 2024
As per Gallagher Re’s analysis of rating actions by AM Best, the number of downgrades of US P&C re/insurers jumped significantly in the eight months to the end of August 2023 compared with the calendar year 2022. Negative rating actions report...
Posted: Mar 01, 2024