Insurance Journal
The world’s forum for banking regulators on Thursday tightened up its rulebook to focus better on spotting risks from climate change, the rise of non-banks, and digitalisation of finance. The Basel Committee on Banking Supervision, made up of b...
Posted: Apr 25, 2024
Aon plc said late Thursday that it has completed its $13 billion acquisition of middle-market P/C broker NFP. The purchase price will be funded by $7 billion in cash and $6 billion of Aon stock. Closing was earlier than originally …
Posted: Apr 25, 2024
ALKEME announced the acquisition of Ralph Weiner & Associates, a retail insurance agency based in Wheeling, Illinois. Established in 1951, Ralph Weiner & Associates has earned acclaim for its specialized focus on the long-term health care fac...
Posted: Apr 25, 2024
The New Jersey Forest Fire Service said it has reached 100% containment of a 510-acre wildfire in the area of Jackson Rd. in Wharton State Forest. The fire burned in both Waterford Twp, Camden County and Shamong Twp, Burlington County. …
Posted: Apr 25, 2024
XPT Specialty, headquartered in New Haven, Connecticut, hired Jody Travis as vice president and senior underwriter in its Houston office. Travis has over 30 years of experience in the commercial sector. He most recently served as vice president and s...
Posted: Apr 25, 2024
Delivery company DHL will pay $8.7 million and be subject to the oversight of a court-appointed monitor to settle a class race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The...
Posted: Apr 25, 2024
HOUSTON (AP) — A deputy who was a 20-year-veteran of a Houston-area sheriff’s office died Tuesday after being hit by a truck while trying to help a driver following a minor crash, according to officials. John Coddou had pulled over …
Posted: Apr 25, 2024
This post is part of a series sponsored by CoreLogic. Over the last couple of years, Artificial Intelligence (AI) has changed how everyone lives, works, and plays. More than just a trend, AI is the ability of a machine, computer, …
Posted: Apr 25, 2024
According to Chubb CEO Evan G. Greenberg, the insurance industry’s underwriting practices for a number of financial lines are “simply dumb.” In a call with analysts to discuss Chubb’s earnings for the first quarter, Greenberg...
Posted: Apr 25, 2024
A man that South Carolina authorities have called a ringleader of an insurance fraud ring, who once recruited accomplices while he was in prison, has pleaded guilty to staging accidents and defrauding insurers of more than half a million dollars. ...
Posted: Apr 25, 2024
A Connecticut employer lost its right to contest a workers’ compensation claim because although it mailed its notice to the workers’ compensation law judge within the 28 day statutory period, the judge did not receive the notice by the 28...
Posted: Apr 25, 2024
Zurich NA Names Higginbotham Head of Professional Liability & Cyber Zurich North America, headquartered in Schaumburg, Illinois, has named Kara Higginbotham as head of professional liability and cyber for U.S. national accounts, leading a team of...
Posted: Apr 25, 2024
This post is part of a series sponsored by AgentSync. It’s not a secret. Insurance has a talent crisis. Not that people who work in insurance aren’t talented – whooooo boy. But that there aren’t enough people who stick around, ̷...
Posted: Apr 25, 2024
A global insurance coalition intended to help curb the sector’s greenhouse gas emissions has relaunched with a new name and weaker membership requirements in response to companies fleeing over allegations of collusion by Republican politicians...
Posted: Apr 25, 2024
Lockton, the independent insurance broker, announced two key senior promotions within its Crisis Management team in London. Helen Sandford has been appointed as head of Special Crime, and Freddie Schlesinger has been appointed head of Product Recall...
Posted: Apr 25, 2024
Re/insurer Ariel Re and Hiscox Re & ILS, the reinsurance and insurance linked securities arm of insurer Hiscox, announced the launch of CyberShock, a cyber catastrophe consortium. The CyberShock consortium is designed to offer up to US$50 million...
Posted: Apr 25, 2024
Citigroup Inc. Chief Executive Officer Jane Fraser warned that there’s a risk to the growing number of insurers piling funds into direct lending opportunities. It’s one of many risks tied to the rise of the private credit industry that Fr...
Posted: Apr 25, 2024
Fidelidade-Companhia de Seguros SA, a Portuguese insurer controlled by China’s Fosun International Ltd., said it’s planning to carry out an initial public offering in 2025. That share sale would take place after Fidelidade completes a pla...
Posted: Apr 25, 2024
The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage. The country may take out climate insurance or establish a contingency fund to deal with &#...
Posted: Apr 25, 2024
Susan Morisato has joined Sentry’s Board of Directors. Sentry is headquartered in Steven’s Point, Wisconsin. Morisato, based in Des Plaines, Illinois, brings over 30 years of health insurance experience to Sentry’s board. She is a f...
Posted: Apr 25, 2024
SageSure, a managing general underwriter focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, announced the close of the Gateway Re 2024-2 second and s...
Posted: Apr 25, 2024
Upgrading or changing legacy platforms and enterprise software can be a nightmare to disentangle, particularly when dealing with existing operating systems, data storage, and payment processing software. When planning an upgrade, there have historica...
Posted: Apr 25, 2024
McKinsey & Co is under criminal investigation in the United States over allegations that the consulting firm played a key role in fueling the opioid epidemic, with federal prosecutors homing in on its work advising OxyContin maker Purdue Pharma a...
Posted: Apr 25, 2024
New legislation aimed at reducing workplace violence in California vastly increases employers’ responsibilities and hands workers’ compensation insurers an unprecedented oversight role that is likely to trigger lawsuits and affect rates a...
Posted: Apr 25, 2024
Two south Florida lawsuits against property insurers argue that two major carriers have employed a business strategy of hiring inexperienced or even unlicensed claims adjusters after storms, practices that have led to “lowball” damage est...
Posted: Apr 25, 2024