Insurance Journal
U.S. venture capital firm Andreessen Horowitz has backed London-based insurance startup Hyperexponential in a $73 million funding round, the insurance software company said on Thursday. Founded in 2017, Hyperexponential provides insurance companies w...
Posted: Jan 11, 2024
WTW Names Buganski Head of Personal Lines, CRB NA WTW, headquartered in Arlington, Va., appointed Despina Buganski as head of personal lines, corporate risk and broking, North America (CRB NA). With more than 30 years of industry experience, Buganski...
Posted: Jan 11, 2024
Executive Summary Companies need to enact long-term performance measurement and strategies for underwriting discipline across the underwriting cycle because evidence suggests underwriters will not impose it themselves, according to Tony Buckle and Jo...
Posted: Jan 11, 2024
A report from the South Carolina Department of Insurance confirms what insurers and bars and restaurants have said for the past few years: Liquor liability coverage in the state is “extremely unprofitable” for carriers – and costs are far...
Posted: Jan 11, 2024
Federal investigators say they have been unable to determine what caused a medical flight to go haywire before the helicopter crash-landed without losing any lives nearly two years ago. The pilot somehow avoided a web of power lines and buildings ...
Posted: Jan 11, 2024
A worker was killed on New York’s Long Island Monday after becoming buried in a hole while working on a septic system. Suffolk County Police said the masonry company worker was installing cesspool rings at a home in Head of …
Posted: Jan 11, 2024
The new year brought with it an expansion of Connecticut’s workers’ compensation benefits with regard to post-traumatic stress injuries or disorders (PTSD). Prior to January 1, only first responders were eligible for benefits for work-rel...
Posted: Jan 11, 2024
The new year brought with it an expansion of Connecticut’s workers compensation benefits with regard to post-traumatic stress injuries or disorder (PTSD). Prior to January 1, only first responders were eligible for benefits for work-related PTS...
Posted: Jan 11, 2024
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Mutual of Enumclaw Insurance Company and Enumclaw Propert...
Posted: Jan 11, 2024
Noguchi & Associates launched its Ori-gen Retirement Plan Services for its Hawaii client base. The service expands upon the establishment of Ori-gen Retirement Plan Services announced in February 2023. Noguchi & Associates will now offer serv...
Posted: Jan 11, 2024
A California man was sentenced to four years in prison for seeking to win a $100 million lawsuit by making false sexual assault claims against Hollywood executives. Rovier Carrington, 34, of Los Angeles was sentenced in Manhattan federal court after...
Posted: Jan 11, 2024
Class-action and government enforcement lawsuits continued to take a toll on corporate defendants in 2023, with ten $1 billion settlements and a total cost of $51.3 billion, according to a report released Tuesday by the DuaneMorris law firm. The tota...
Posted: Jan 11, 2024
This post is part of a series sponsored by AgentSync. Just a few years ago, Managing General Agencies (MGAs) were an attractive investment option in the insurtech space. But market turmoil and emerging industry challenges are changing the tides. In &...
Posted: Jan 11, 2024
This post is part of a series sponsored by IAT Insurance Group. It’s not news that property owners along the Gulf Coast are experiencing sticker shock when it comes their insurance renewal. The challenge is, rate increases of 30%-40% industry &...
Posted: Jan 11, 2024
TOLEDO, Ohio (AP) — Five companies have agreed to pay the federal government more than $7.2 million overall to resolve claims stemming from longstanding pollution in two adjacent creeks in the Maumee River watershed in northwestern Ohio. The settleme...
Posted: Jan 10, 2024
The U.S. retail mortgage lender loanDepot is struggling to recover from a cyberattack that impacted its loan processing and phone service. In a filing on Monday with the Securities and Exchange Commission, the company said data was encrypted by the &...
Posted: Jan 10, 2024
Aspen Insurance Holdings Ltd. has partnered with Surefire Cyber to launch Aspen Cyber Risk Services (ACRS), a complimentary suite of services that will enable its primary cyber insureds to proactively tackle cybersecurity threats, from pre-incident t...
Posted: Jan 10, 2024
Less than a month after Farmers Direct Insurance filed for a hefty rate increase on West Virginia auto liability policies, Progressive has followed suit with an almost identical request. The West Virginia insurance commissioner posted a bulletin Tues...
Posted: Jan 10, 2024
Shares in UK insurers fell on Wednesday, with traders pointing to an article in the Insurance Post that quoted the Financial Conduct Authority’s Head of Insurance Matt Brewis as saying premium finance was a “poor product”. At 1258 G...
Posted: Jan 10, 2024
Italy’s biggest insurer Generali on Wednesday said it would acquire full control of a non-life insurance joint-venture in China by buying out local partner CNPC Capital for around 99 million euros ($108 million). Generali said it planned to exp...
Posted: Jan 10, 2024
Truck engine maker Cummins agreed to settle a lawsuit filed Wednesday by the Justice Department and California and pay a record-setting fine of about $1.65 billion for installing defeat devices on hundreds of thousands of engines. In December, the Ju...
Posted: Jan 10, 2024
Storm Henk, which battered Britain last week, caused around 150 million pounds ($190 million) in insured losses and damaged around 2,000 properties, consultants PwC said on Wednesday. Heavy rain caused major rivers to burst their banks and the govern...
Posted: Jan 10, 2024
An explosion at a historic Texas hotel in Fort Worth on Monday blew out windows, littered downtown streets with large sections of debris from the building and injured 21 people, including one who was in critical condition, authorities said. The ̷...
Posted: Jan 10, 2024
NEW YORK (January 9, 2024) –The Insurance Industry Charitable Foundation (IICF), a nonprofit organization dedicated to helping communities and enriching lives, today announces that Wendy Houser, Chief Wholesale Officer at Markel Specialty, has been n...
Posted: Jan 10, 2024
Four people were killed and property was ripped apart as tornadoes and severe thunderstoms moved across the Southeast Tuesday. The New York Times and other news services reported that an 81-year-old woman died after her mobile home was overturned in...
Posted: Jan 10, 2024