Insurance Journal
USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion. The San Antonio, Texas-based reciprocal exchange said revenue was up 17% year-over-year to &#...
Posted: Jun 03, 2024
ST. HELENA ISLAND, S.C. (AP) — Five people, including a 4-year-old, were killed during a fiery three-vehicle crash near the southern South Carolina coast, authorities said Thursday. The South Carolina Highway Patrol said a BMW was traveling south Wed...
Posted: Jun 03, 2024
Kansas storm claims totaled nearly half a billion dollars in 2023. According to numbers shared by the state’s department of insurance, 147,710 claims totaling $442.8 million were paid last year. The Kansas Department of Insurance collected this...
Posted: Jun 03, 2024
Apollo Syndicate Management Ltd., the Lloyd’s managing agent, announced the launch of the first captive syndicate to be launched under Lloyd’s revised captive syndicate model. This captive syndicate, managed by Apollo, is in partnership w...
Posted: Jun 03, 2024
A safety test scandal at Japanese automakers widened on Monday, with Toyota Motor and Mazda both halting shipments of some vehicles after Japan’s transport ministry found irregularities in applications to certify certain models. The irregularit...
Posted: Jun 03, 2024
Desjardins Group and The Insurance Company of Prince Edward Island (ICPEI) have confirmed that the transaction announced in March 2024 has closed. Financial details of the deal were not disclosed. With this acquisition, Desjardins General Insurance G...
Posted: Jun 03, 2024
Southern Germany continues to battle flooding from heavy rainfall that’s disrupted transportation and pushed emergency services to their limits. Chancellor Olaf Scholz, who plans to visit some of the affected regions on Monday, said recent inst...
Posted: Jun 03, 2024
KKR & Co. is considering entering the private credit market in Japan to provide an alternative to bank loans. “It will be a medium to long-term initiative,” Hiro Hirano, the head of KKR Japan said in an interview. “I think ̷...
Posted: Jun 03, 2024
Stellantis NV is rushing to fix around 500,000 cars from its Citroën and DS brands after urging clients to stop driving them due to faulty air bags from now-defunct Takata Corp. The company is providing replacement vehicles, sourcing new air …
Posted: Jun 03, 2024
Austin, TX., June 3, 2024 – In an innovative move to bridge the knowledge gap in the rapidly evolving insurance/insurtech landscape, The National Alliance for Insurance Education & Research has partnered with BrokerTech Ventures to develop a foun...
Posted: Jun 03, 2024
Elon Musk had inside knowledge of a miss on production and delivery numbers that Tesla Inc. was facing when he sold more than $7.5 billion in stock in 2022, a shareholder in the electric vehicle maker claimed in a lawsuit. …
Posted: Jun 03, 2024
Live Nation Entertainment said on Friday it was investigating a data breach at its Ticketmaster unit that it discovered on May 20, the latest in a string of high-profile corporate hacks in the past year. In a filing with the …
Posted: Jun 03, 2024
An unidentified hacking group launched a massive cyberattack on a telecommunications company in the U.S. heartland late last year that disabled hundreds of thousands of internet routers, according to research published Thursday. Security analysts wit...
Posted: Jun 03, 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 03, 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 03, 2024
A Vermont man who lost his job after he said a random drug test showed he had used medical marijuana off duty for chronic pain has appealed to the Vermont Supreme Court saying he should not have been denied a …
Posted: Jun 03, 2024
A Vermont man who lost his job after he said a random drug test showed he had used medical marijuana off duty for chronic pain has appealed to the Vermont Supreme Court saying he should not have been denied a …
Posted: Jun 03, 2024
Vermont has become the first state to enact a law requiring fossil fuel companies to pay a share of the damage caused by climate change after the state suffered catastrophic summer flooding and damage from other extreme weather. Republican Gov. ̷...
Posted: Jun 03, 2024
More than 48,000 Hawaiian Electric Co. customers living in some of the state’s driest areas will soon face the prospect of advance power shutoffs — and outages that could last several days — in order to reduce the risk of …
Posted: Jun 03, 2024
PEMCO Mutual Insurance named Calvin Strong chief claims officer. It also named Shashi Reddy chief data and analytics officer. Strong will lead the claims function at PEMCO. Strong has more than 30 years of experience in the property/casualty insuranc...
Posted: Jun 03, 2024
PEMCO Mutual Insurance named Calvin Strong chief claims officer. It also named Shashi Reddy chief data and analytics officer. Strong will lead the claims function at PEMCO. Strong has more than 30 years of experience in the property/casualty insuranc...
Posted: Jun 03, 2024
AIG is “a different company” today than it was when CEO Peter Zaffino joined the company in 2017, but like the old AIG, the new one is poised to grow again, he said. The former executive of Marsh, who recalled …
Posted: Jun 02, 2024
This post is part of a series sponsored by TSIB. You worked hard to manage an acceptable outcome for your insurance renewal, answered countless underwriting queries, finally give your broker the order to bind, and you find yourself with one …
Posted: Jun 02, 2024
For airline passengers and workers alike, it feels like trouble is lurking behind every cloud of late. Frightening scenes of a door plug flying off an airplane mid-flight have dominated news coverage. Clips of collisions and near-misses on the tarmac...
Posted: Jun 02, 2024
The quest for transparency in compensation has become a paramount concern for both employers and employees alike. About one-fifth of U.S. employees are covered by compensation transparency laws, and many companies without requirements are opting for...
Posted: Jun 02, 2024