Insurance Journal
This post is part of a series sponsored by AgentSync. There are as many ways to “do business” as there are businesses. That is to say, no two organizations are the same. However, broadly speaking, some companies prioritize doing all ̷...
Posted: Jan 25, 2024
The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial-technology firm that processes trillions of dollars of securities-lending transactions every month. The company, p...
Posted: Jan 25, 2024
Fourth quarter net income at W.R. Berkley Corp. increased 4% compared to the same period the prior year to about $397.3 million on record pretax underwriting income of nearly $316 million, an 8.2% increase. The Greenwich, Connecticut-based commercial...
Posted: Jan 24, 2024
The Hartford confirmed this week it will discontinue writing new homeowners policies in California. The carrier reportedly has less than 1% of the state’s homeowners market. The Hartford issued the following statement follwing a request for com...
Posted: Jan 24, 2024
Rice University has set aside $33.75 million to settle an antitrust lawsuit filed against 17 prestigious private universities across the country accused of illegally running a scheme that limited the amount of financial aid given to students, accordi...
Posted: Jan 24, 2024
Jewelers Mutual Group, headquartered in Neenah, Wis., hired two new leadership team members. Nick Tenekedes is now senior vice president of digital solutions. Tenekedes joins Jewelers Mutual with over 15 years of experience. Most recently, Tenekedes...
Posted: Jan 24, 2024
Donegal Insurance Group, headquartered in Marietta, Penn., named two new regional vice presidents. Wes Konchar will lead Donegal’s Marietta region, comprised of Pennsylvania, Ohio, Indiana, Maine and New Hampshire. A 15-year Donegal veteran, Ko...
Posted: Jan 24, 2024
Missouri consumers had more than $27.5 million returned from their insurance companies in 2023, the Missouri Department of Commerce and Insurance (DCI) announced. The amount returned to Missouri consumers was a result of DCI’s Insurance Consume...
Posted: Jan 24, 2024
Missouri consumers had more than $27.5 million returned from their insurance companies in 2023, the Missouri Department of Commerce and Insurance (DCI) announced. The amount returned to Missouri consumers was a result of DCI’s Insurance Consume...
Posted: Jan 24, 2024
Progressive Corp. today said fourth quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago during the same period. The Mayfield Village, Ohio-based insurer reported some quarterly and year results as it announce...
Posted: Jan 24, 2024
Insurance broker Patriot Growth Insurance Services and its partner insurance agency FBinsure of Taunton, Massachusetts announced that they recently added Maggiacomo Insurance, Hanuschak Insurance, and Gilmartin Insurance of the Rhode Island Insurance...
Posted: Jan 24, 2024
Workers’ compensation loss costs in Tennessee will drop an average of 9.4% for the voluntary market starting March 1, marking the 11th straight decrease for the state. The decrease follows declines of 10.2% in 2023 and 5.6% in 2022, the …
Posted: Jan 24, 2024
Wall Street’s main regulator on Wednesday is set to demand more investor protections for deals involving special purpose acquisition companies, tightening rules on a once-popular pathway for taking firms public. After surging during the Covid-1...
Posted: Jan 24, 2024
(AP) — 3M has started paying out its $6 billion settlement to U.S. service members who say they experienced hearing loss or other serious injuries after using faulty earplugs made by the company. The chemical and consumer product manufacturer made &#...
Posted: Jan 24, 2024
Sands Point Risk, a new managing general agent to be led by the founder of transaction risk solutions at DUAL, has been launched to serve the transaction liability insurance (TLI) sector. Dennis Kearns, who founded the transaction risk program at ...
Posted: Jan 24, 2024
Most U.S. insurers plan to take on more investment risk in 2024, and said the risks associated with the use of artificial intelligence (AI) in the investment process are outweighed by the potential benefits of the technology. According to results ...
Posted: Jan 24, 2024
NFP, the insurance broking and consulting firm, announced it has acquired Advanced Insurance Consultants Ltd. (AIC), an independent insurance broker based in Hemel Hempstead on the outskirts of London. As part of the deal, which closed on Dec. 15, th...
Posted: Jan 24, 2024
Howden, the London-based global insurance group, announced the acquisition of Laurie Ross, a personal and commercial lines broker based in Scotland. The addition of Laurie Ross will take Howden’s high street branches to 117, with a total of ove...
Posted: Jan 24, 2024
Two months of missile, drone and hijacking attacks against civilian ships in the Red Sea have caused the biggest diversion of international trade in decades, pushing up costs for shippers as far away as Asia and North America. The disruption …
Posted: Jan 24, 2024
British drivers have to fork out twice as much to insure electric vehicles as they do for combustion-engine models, adding to hurdles to make the switch to zero-emission cars. The average insurance premium for EVs jumped to £1,344 ($1,700) at …
Posted: Jan 24, 2024
Ivans Index found the average premium renewal rate increased year-over year for all major commercial lines except workers’ compensation, but every line of business averaged rate increases at renewal during the last three months of 2023, compare...
Posted: Jan 24, 2024
Major insurance groups have elevated team members to top positions around the South. Tampa-based BRP Group, an independent insurance distribution firm, has named Dan Galbraith and Jim Roche to be co-presidents of the company. Galbraith, who has been...
Posted: Jan 24, 2024
When a Florida Senate committee last week approved a bill that would raise the policy limit on homes that can be written by the state-backed Citizens Property Insurance Corp., state Sen. Doug Broxson said the change was needed because of …
Posted: Jan 24, 2024
The California Labor Commissioner’s Office reached a $1 million settlement against the Cheesecake Factory Restaurants Inc. and two janitorial contractors for reportedly underpaying 589 janitorial workers. The investigation began in 2016 after r...
Posted: Jan 24, 2024
A crew member fell asleep with a 55-foot trawler operating on autopilot before it crashed onto rocks on the Maine coast last weekend, the fishing vessel’s owner said. The four crew members aboard the Tara Lynn II were rescued. But …
Posted: Jan 24, 2024