Insurance Journal
The Ardonagh Group, the London-based independent insurance distribution platform, announced it has completed the A$2.3 billion (US$1.6 billion) acquisition of PSC Insurance Group Ltd. The completion of the acquisition in the APAC region sees PSC̵...
Posted: Oct 15, 2024
Property Insurance claims from Hurricane Milton had topped more than 123,000 by Sunday, with some $1.5 billion in estimated insured losses. That’s already more than the claims and losses reported for Helene, which made landfall in Florida two w...
Posted: Oct 15, 2024
Vermont’s insurance regulator has approved an affiliation of Union Mutual Fire Insurance Co. with the Massachusetts-based mutual insurer Norfolk & Dedham Group. Under the now-approved “acquisition of control” transaction that wa...
Posted: Oct 15, 2024
Florida’s Hurricane Milton caused private insured losses of about $36 billion, estimated catastrophe modeler Karen Clark & Co. The estimate includes losses from wind, storms surge, and inland flooding to personal, commercial and industrial...
Posted: Oct 15, 2024
A Russian missile hit a fourth cargo ship in Ukraine this month, as the Kremlin ramps up its attacks on Kyiv’s trade infrastructure. A grain storage facility at Odesa port was attacked on Monday, killing one person and injuring two …
Posted: Oct 15, 2024
The UK government has urged people to ensure they are prepared for flooding this winter after an unusually wet September. The warning marks “Flood Action Week” which starts Monday and coincides with the anniversary of last year’s St...
Posted: Oct 15, 2024
Specialist Risk Group (SRG), the London-based specialist insurance intermediary that is majority-owned by Warburg Pincus and Temasek, announced its launch in Asia Pacific with a new subsidiary in Singapore. As the first part of its expansion plans, S...
Posted: Oct 15, 2024
The likelihood of a La Niña weather event in coming months has decreased, Australia’s weather bureau said on Tuesday, adding that if the phenomenon did appear, it would be weak and short-lived. The development of La Niña and its opposite, ̷...
Posted: Oct 15, 2024
This post is part of a series sponsored by AgentSync. Historically, compliance has been seen as a necessary evil for insurance carriers. The dynamic often pits compliance or operations teams against sales, it causes silos, and it sows division in ...
Posted: Oct 15, 2024
Southeast Asia could see higher-than-normal rainfall in the coming months, threatening further disruptions to agriculture, tourism, and industrial output in a region already hit by a series of storms this year. Weather forecasters predict wetter cond...
Posted: Oct 15, 2024
Arch Capital Group Ltd., the Bermuda-based re/insurer, announced that Nicolas Papadopoulo has been named chief executive officer and is joining the board of directors effective immediately. Papadopoulo has held his current positions of president and...
Posted: Oct 15, 2024
Damage to private property from Iran’s recent missile barrage on Israel amounted to 150 million to 200 million shekels ($40 million to $53 million), according to figures provided by Israel’s tax authority, making it the costliest since th...
Posted: Oct 15, 2024
The Singapore government will block a proposed S$2.2 billion ($1.7 billion) deal by Allianz SE to buy a majority stake in a homegrown insurance firm, three months after the transaction sparked a public backlash. The government decided it wouldn’...
Posted: Oct 15, 2024
Honda Motor said it is recalling 2 million cars and SUVs in North America over an issue that can make steering more difficult and increase the risk of a crash. The recall by the Japanese automaker includes various 2022 through …
Posted: Oct 15, 2024
Johnson & Johnson’s successful use of a “court-shopping” legal tactic to advance its latest plan for resolving thousands of cancer claims spotlights a controversial bankruptcy maneuver corporations have long employed to avoid un...
Posted: Oct 15, 2024
KNOXVILLE, Tenn. (AP) — Authorities in eastern Tennessee continued Friday to investigate a container suspected of holding large amounts of dynamite, warning residents that evacuations will likely remain in place throughout the night. “Until we...
Posted: Oct 15, 2024
WASHINGTON (AP) — Residents in the states hit by Hurricane Helene who had coverage through the federal flood insurance program but let it lapse before the storm hit may be able to renew it and still be covered from the …
Posted: Oct 15, 2024
Voters will decide in November whether California should raise its hourly minimum wage to $18 by 2026 and pay workers what would be the highest statewide minimum wage in the country. That would be on par with Hawaii, where workers …
Posted: Oct 15, 2024
A New Jersey Transit light-rail train operator died and 23 passengers were hurt early Monday after the lead car hit a tree which fell onto the tracks. The incident occurred around 6 a.m. ET when the southbound train from Trenton …
Posted: Oct 15, 2024
A fire that killed two first responders and engulfed multiple rowhouses in northwest Baltimore last year has been ruled accidental, according to an investigation released Friday by the Baltimore City Fire Department. The cause of the Oct. 19, 2023, f...
Posted: Oct 15, 2024
Galla Joins Alliant Insurance Services as Executive Vice President, Alliant M&A Pete Galla joined Alliant Insurance Services as executive vice president and senior director, Alliant Specialty, within the company’s mergers and acquisitions v...
Posted: Oct 15, 2024
Delaware Insurance Commissioner Trinidad Navarro announced that workers’ compensation insurance rates will decrease for the eighth year in a row, effective December 1. The voluntary market is expected to decrease average loss costs by 8.4%, and...
Posted: Oct 15, 2024
In one of the most pro-subrogation decisions in a generation, the Nevada Supreme Court has overnight turned Nevada into one of the most favorable states for workers’ compensation subrogation. With the stroke of a pen, the court in its Sept. ...
Posted: Oct 15, 2024
This post is part of a series sponsored by Selectsys. In the complex world of Workers’ Compensation and General Liability (GL) insurance, underwriters face the challenge of managing diverse carrier systems while ensuring compliance and maintain...
Posted: Oct 14, 2024
Moody’s RMS said private insurers can expect to dole out between $35 billion and $55 billion for hurricanes Milton andHelene. A final industry-loss estimate for Hurricane Milton, a Category 3 that struck Siesta Key, Florida on October 9, will b...
Posted: Oct 14, 2024