Insurance Journal
The 7.2 magnitude earthquake that struck Taiwan’s east coast on April 3 caused substantial damage, particularly in Hualien with collapsed buildings and infrastructure disruptions. However, insurers are expected to weather the financial impact w...
Posted: Apr 05, 2024
Higginbotham, the large U.S. insurance brokerage, has added another arrow to its quiver with the acquisition of Thompson & Smith Insurance, an independent agency in Jackson, Tennessee. T&S, offering commercial and personal lines, was founded...
Posted: Apr 05, 2024
In another setback for electric car demand in China, where uptake has slowed in recent months, some drivers are now finding themselves paying more for insurance — and are taking to social media to complain. In one report last week, …
Posted: Apr 05, 2024
A violent storm that hit the Northeast the past two days has taken the lives of at least four people, three of whom were killed when uprooted trees crashed into their vehicles. Heavy rains and snow along with winds as …
Posted: Apr 05, 2024
The Florida Office of Insurance Regulation is reminding carriers that additional data is due April 17 on Hurricane Ian claims. All property insurers are required by law to submit the enhanced catastrophe reports, including additional claims and other...
Posted: Apr 05, 2024
Arch Insurance North America, part of Bermuda’s Arch Capital Group Ltd., announced it has entered into an agreement to acquire Allianz Global Corporate & Specialty’s US MidCorp and Entertainment businesses for a cash consideration of...
Posted: Apr 05, 2024
MADISON, Wis. (AP) — A worker burned in a 2022 explosion during renovation work on the University of Wisconsin’s Camp Randall Stadium has settled his lawsuit against the project’s general contractor for $22 million, his attorney says. The...
Posted: Apr 05, 2024
Almost one year ago, on May 31, 2023, Florida Gov. Ron DeSantis signed sweeping insurance reform legislation into law. At that time, the Florida insurance market was on life support. Homeowners’ insurance companies, stung by massive losses, wer...
Posted: Apr 05, 2024
A construction worker was killed and three other people were injured when a crane section fell onto a bridge in Fort Lauderdale, Florida, heavily damaging cars that were crossing the bridge Thursday. The Miami Herald and other news sites reported ...
Posted: Apr 05, 2024
The U.S. Army Corps of Engineers said Thursday it expects to open a new channel to the Port of Baltimore by the end of April, freeing up commercial shipping blocked by a collapsed bridge, and then restore port access to …
Posted: Apr 05, 2024
Subsidized insurance would attract investors to help rebuild Ukraine’s war-battered economy, according to the European Bank for Reconstruction and Development. “Reconstruction could start very quickly,” EBRD Chief Economist Beata Ja...
Posted: Apr 05, 2024
Women’s representation in senior level positions at US companies faces an “alarming turning point,” with steady growth showing signs of fatigue for the first time in two decades, according to a new report. Women accounted for 11.8%...
Posted: Apr 05, 2024
Donald Trump must prove within 10 days that the company providing his $175 million appeal bond in New York’s civil fraud case is financially capable of paying up if his legal challenges fail, the state told a judge. New York …
Posted: Apr 05, 2024
For the first time, a fixed-income sector — private credit — topped the list of favored assets in Goldman Sachs Asset Management’s annual survey of global insurance companies. Of the 359 executives polled, 53% ranked private credit among the to...
Posted: Apr 05, 2024
A lack of investment in green energy has left the world on track to overshoot the 1.5C temperature increase that scientists have defined as a critical threshold in global efforts to contain climate change. The finding was published on Thursday …...
Posted: Apr 05, 2024
The U.S. Justice Department next week will meet with lawyers for families of victims of two fatal Boeing 737 MAX crashes that killed 346 people in 2018 and 2019, as the government decides whether to move ahead with a criminal …
Posted: Apr 05, 2024
The U.S. Justice Department next week will meet with lawyers for families of victims of two fatal Boeing 737 MAX crashes that killed 346 people in 2018 and 2019, as the government decides whether to move ahead with a criminal …
Posted: Apr 05, 2024
Applied Surety Underwriters (ASU), a subsidiary of Applied Underwriters’ United Risk division, announced it will acquire the majority of Argo Surety group’s in-force coal, oil, gas, and mining business. ASU will immediately assume the man...
Posted: Apr 05, 2024
Wall Street’s top regulator has stayed new climate-related disclosure requirements pending judicial review, the agency said in a statement on Thursday, after criticism from across the political spectrum. The Securities and Exchange Commission&#...
Posted: Apr 05, 2024
Brokers Aon and Gallagher Re described a buyers’ reinsurance market for the April 1, 2024 property and specialty renewals as reinsurer profit margins benefited from last year’s “redistribution of risk” to cedents. Reinsurers a...
Posted: Apr 05, 2024
Brokers Aon and Gallagher Re described a buyers’ reinsurance market for the April 1, 2024 property and specialty renewals as reinsurer profit margins benefited from last year’s “redistribution of risk” to cedents. Reinsurers a...
Posted: Apr 05, 2024
The company that owns several District of Columbia professional sports teams and a major sports arena has settled its lawsuit against its insurance company over losses related to the shutdown caused by COVID-19. It was only a partial victory for R...
Posted: Apr 05, 2024
Arrowhead General Insurance Agency Inc. in California launched a new commercial auto product. Arrowhead’s Commercial Auto is available to California customers in construction-related industries. The program includes: Contractor/construction ris...
Posted: Apr 05, 2024
For Vermont Mutual Insurance Group, which has been around since 1828, the past few years have been among the most challenging in its history. “The disruption was not from a single event, but a confluence of disrupters that had successive …...
Posted: Apr 05, 2024
Hub International Ltd. acquired the assets of Pollock Insurance Inc. Andrea Pollock Wood, the firm’s owner, and the Pollock Insurance team, will join Hub Northwest. Pollock Insurance will be referred to as Pollock Insurance, Inc., a Hub Interna...
Posted: Apr 05, 2024