Insurance Journal
This edition of International People Moves details appointments at special re/insurer Chaucer Group and the London-based broker Howden. A summary of these new hires follows here. Canopius Taps Getty From Talbot for Cyber Team Canopius Group, the Lond...
Posted: Jun 17, 2024
The New Jersey Supreme Court has ruled that all commercial landowners — including owners of vacant commercial lots — have a duty to maintain the public sidewalks abutting their property in reasonably good condition and are liable to pedes...
Posted: Jun 17, 2024
Microsoft President Brad Smith fielded questions about the tech giant’s security practices and ties to China at a House homeland security panel on Thursday, a year after alleged China-linked hackers spied on federal emails by hacking the firm....
Posted: Jun 17, 2024
If the Detroit Tigers Major League Baseball team needs money to rebuild its roster next year, a Florida appeals court just saved the team more than $14,000 in workers’ compensation payments to an injured minor league pitcher. Florida’s 1s...
Posted: Jun 17, 2024
A group of London hospitals struggling to contain the fallout from a cyberattack against a critical supplier had known for years about weaknesses that left them vulnerable to hacks, according to documents reviewed by Bloomberg News. The Guy’s a...
Posted: Jun 17, 2024
Crew members of a bulk cargo carrier struck by Houthi missiles abandoned ship Saturday after they couldn’t get fires on board under control, the US military said. The Iranian-backed militants struck the Verbena, a Ukrainian-owned, Polish-operat...
Posted: Jun 17, 2024
Denmark is considering ways to limit a so-called shadow fleet of tankers from carrying Russian oil through the Baltic Sea, the Nordic country’s foreign minister said on Monday, in a move that could heighten tensions with Moscow. Russia sends ab...
Posted: Jun 17, 2024
Russia’s Ingosstrakh said on Friday it may challenge UK sanctions in court and was seeking clarification about the measures imposed on the country’s leading insurer that the British government announced on Thursday. Ingosstrakh, which pro...
Posted: Jun 17, 2024
Finnish insurer Sampo has agreed to buy Topdanmark an all-share deal that values the Danish rival at 33 billion crowns ($4.73 billion), the two companies said on Monday. Sampo already owns 48.5% of the Danish property and casualty (P/C) insurer, R...
Posted: Jun 17, 2024
After holding relatively steady for nearly a decade, the number of business liability policy claims cases jumped 28% in 2023, according to a litigation report from Lex Machina. The report found that 3,596 business liability cases covering third-party...
Posted: Jun 17, 2024
The hurricane season continues to look like it will be a highly active one, as a potent and portentous weather pattern continues to take shape, an AccuWeather meteorologist told Claims Journal on Friday. “It certainly looks like it’s goin...
Posted: Jun 17, 2024
In May, Florida’s chief financial officer sent out a notice that he had appointed new members to the Florida Insurance Guaranty Association’s board of directors. Just a week later, though, one of those appointees, a State Farm employee, w...
Posted: Jun 17, 2024
A judge on Friday ordered a retrial over allegations that a Virginia-based military contractor contributed to the abuse and torture of detainees at Iraq’s notorious Abu Ghraib prison two decades ago. A civil trial earlier this year ended with a...
Posted: Jun 17, 2024
Vermont’s governor has vetoed a broad data privacy bill that would have been one of the strongest in the country to crack down on companies’ use of online personal data by letting consumers file civil lawsuits against companies that break...
Posted: Jun 17, 2024
The Oregon Occupational Safety and Health Division fined a Grants Pass roofing company $86,149 for workplace safety violations, including repeatedly failing to safeguard workers from fall hazards that could seriously injure or kill them. The division...
Posted: Jun 17, 2024
This post is part of a series sponsored by TSIB. Understanding how insurance cost savings work on a Controlled Insurance Program (CIP), also known as a Wrap-Up, and who retains the risk/reward is important. There are several varieties of CIPs …
Posted: Jun 16, 2024
Starting July 1, Florida insurance agents must have at least three appointments with authorized carriers before they can sell policies for the state-created Citizens Property Insurance Corp. That’s the mandate laid down by Florida House Bill 15...
Posted: Jun 16, 2024
The 2024 Atlantic hurricane season, predicted to be unusually intense, officially began this week and it could soon bring the first test of a North Carolina law that some insurance experts have said weakens building codes in the state and …
Posted: Jun 16, 2024
While the rise in new business activity in the construction space is exciting for insurers, the decades-long dilemma over a shortage of qualified talent does worry underwriters. Darren Tasker, North American head of energy and construction at Allianz...
Posted: Jun 16, 2024
Why don’t candidates I reach out to respond?” It is frustrating when people apply for your jobs only to never respond to an interview request, or in the case of LinkedIn, you send an InMail about a job opening that …
Posted: Jun 16, 2024
The balance sheet is preeminent in financial audits by its placement at the front of audit reports. The balance sheet is what insurance regulators and raters are supposed to first focus upon, because it is a measure of whether an …
Posted: Jun 16, 2024
By Andrea Wells While the labor market continues to come up short for the construction industry, the insurance market is doing its job supplying the coverages the industry needs to keep up with the significant demand for new building. Despite …
Posted: Jun 16, 2024
When it comes to most of the personal lines market, it’s pretty straightforward. A person buys a car, and they need insurance. A person buys a home or rents an apartment, and they need insurance. Often, they can benefit from …
Posted: Jun 16, 2024
Experts are calling it: 2024 looks like a good year for merger and acquisition (M&A) activity for the insurance industry. To make the most of this positive environment, buyers and sellers will be focusing on getting appropriate valuations, explor...
Posted: Jun 16, 2024
By Elizabeth Blosfield N ationwide’s Chetan Kandhari said the company is working to build a bionic workforce. Maybe that brings to mind robots, futuristic technology and sci-fi imagery, but Kandhari said no one should fear robots replacing huma...
Posted: Jun 16, 2024