Robin Spaulding // September 13, 2024 (Image credit: TheDigitalArtist/Pixabay.) Claim reviews are an essential task in the world of property and casualty insurance. However, in an era marked by rapidly evolving risks and advancing technologies, the claim review process has not evolved much over time. Most claim reviews today bear...
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Published on: 2024-09-13
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Insurance Journal
Article 0 Comments South America is being ravaged by fire from Brazil’s Amazon rainforest through the world’s largest wetlands to dry forests in Bolivia, breaking a previous record for the number of blazes seen in a year up to Sept. 11. Satellite data analyzed by Brazil’s space research agency Inpe...
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Published on: 2024-09-13
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News – Claims Journal
Article 0 Comments Cooler weather is aiding the fight against a large Southern California wildfire, one of three large fires in the region. The Bridge Fire exploded in size on Tuesday, forcing evacuations in the communities of Wrightwood and Pinion Hills. Authorities also closed highways and issued evacuation warnings for...
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Published on: 2024-09-13
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News – Claims Journal
Article 0 Comments Did you hear the one about cat poop clogging a toilet, resulting in thousands of gallons of sewage water in the home and a big insurance claim? Lin Werkheiser, an insurance fraud investigator, has heard that one and many more like it. “Our first question was, ‘How...
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Published on: 2024-09-13
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News – Claims Journal
Anthony R. O’Donnell // September 12, 2024 (Image source: Mitiga website.) Cytora (London/New York), provider of a digital risk processing platform, has partnered with Mitiga Solutions (Barcelona), a provider of science-based climate risk intelligence. The partnership gives insurers access to EarthScan’s asset-level climate risk intelligence data through Cytora’s platform. In...
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Published on: 2024-09-12
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Insurance Journal
Article 0 Comments Very few people who live near the East Palestine, Ohio, train derailment opted out of a $600 million class action settlement despite residents’ reservations about whether the deal offers enough, so lawyers argue the agreement should be approved later this month. The lawyers who negotiated the deal...
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Published on: 2024-09-12
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News – Claims Journal
Article 0 Comments U.S. utilities faced a near 70% jump in cyberattacks this year over the same period in 2023, according to data from Check Point Research, underlining the escalating threat to a critical infrastructure. The utilities and power infrastructure across the U.S. are becoming increasingly vulnerable as the grid...
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Published on: 2024-09-12
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News – Claims Journal
Article 0 Comments A month after Hurricane Debby made landfall in northern Florida, the number of property insurance claims has reached almost 20,000, and total estimated insured losses are more than $121.5 million, the Florida Office of Insurance Regulation reported this week. The number of claims from Debby is approaching...
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Published on: 2024-09-11
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News – Claims Journal
Article 0 Comments The landlord for a fire-damaged building leased to a Red Lobster restaurant is blaming the restaurant’s insurer for causing it to lose out on $1.2 million in fire insurance claims payments to repair the property. RL New Brunswick Owner LLC, which leased an East Brunswick, New Jersey...
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Published on: 2024-09-11
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News – Claims Journal
Article 0 Comments One forecast calls for Francine to intensify into a Category 2 hurricane in the next 24 hours before hitting the Louisiana coast with storm surge of up to 15 feet, while a catastrophe modeler says the surge could cause flooding that puts more than 125,000 properties at...
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Published on: 2024-09-10
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News – Claims Journal
Article 0 Comments U.S. regulators took a step toward forcing a recall of as many as 51 million air bag inflators they have said could explode in a crash, an escalation of a safety issue that has plagued the auto industry for years. The National Highway Traffic Safety Administration on...
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Published on: 2024-09-10
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News – Claims Journal
Article 0 Comments A new lawsuit claims that Trojan condoms are not safe because they contain toxic “forever chemicals,” which have been linked to cancer. In a proposed class action filed in Manhattan federal court, the plaintiff Matthew Goodman said Church & Dwight’s CHD.N products, advertised as “America’s #1 Condom,”...
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Published on: 2024-09-10
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News – Claims Journal
Article 0 Comments Hundreds of thousands of Americans already live in homes that have repeatedly flooded. To get a good handle on the extent of those losses, check out the Federal Emergency Management Agency’s web page that hosts an extensive dataset with information on structures that have had multiple National...
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Published on: 2024-09-10
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News – Claims Journal
Article 0 Comments Stellantis NV said it’s cooperating with U.S. authorities investigating reports of Jeep engines catching fire, in a potential setback for the company that’s trying to reverse a drop in market share in North America. The National Highway Traffic Safety Administration is investigating whether Jeep Wranglers and Gladiators...
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Published on: 2024-09-10
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News – Claims Journal
Article 0 Comments Meteorologists say Francine could produce life-threatening storm surge and dangerous flash flooding across parts of coastal Louisiana, Texas and Mississippi as it approaches the Gulf Coast. AccuWeather meteorologists say the shallow continental shelf makes the Gulf coast “extremely vulnerable to storm surge. The weather service is forecasting...
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Published on: 2024-09-09
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News – Claims Journal
Anthony R. O’Donnell // September 9, 2024 (Image source: PAVE promotional video.) Mitchell (San Diego, Calif.), a prominent technology and information provider for the property/casualty claims and collision repair industries, has announced a partnership with automotive technology company PAVE (Toronto) to automate vehicle inspections and conditioning. Using Mitchell’s cloud-based appraisal solution,...
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Published on: 2024-09-09
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Insurance Journal
Article 0 Comments Texas and four other states have reached a settlement with operators of an alleged $1 billion illegal cryptocurrency investment scheme highlighted by tokenized partial ownership of a skyscraper, according to the Texas State Securities Board. The regulators are hoping to return hundreds of millions of dollars to...
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Published on: 2024-09-09
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News – Claims Journal
Anthony R. O’Donnell // September 9, 2024 (Image source: Arch Insurance North America homepage.) Arch Insurance North America (Jersey City, N.J.), part of Arch Capital Group Ltd. (Bermuda), and Guidewire (San Mateo, Calif.) announced that Arch Insurance has selected Guidewire ClaimCenter as its new system for claims management. The vendor reports that Guidewire PartnerConnect Consulting Global...
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Published on: 2024-09-09
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Insurance Journal
Article 0 Comments A tropical storm forming in the southwestern Gulf of Mexico is threatening to unleash powerful winds and heavy rain as it makes its way toward the US where it will likely hit Wednesday as a hurricane. The system already has winds up to 50 miles (80 kilometers)...
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Published on: 2024-09-09
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News – Claims Journal
Article 0 Comments A fast-growing wildfire in Southern California, has burned 27 square miles, forcing thousands to evacuate had is putting roughly 35,000 homes and buildings at risk. The Line fire near San Bernardino more than quadrupled in size over the weekend, prompting officials to issue evacuation orders for more...
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Published on: 2024-09-09
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News – Claims Journal
Article 0 Comments Four natural catastrophes over four weeks during Canada’s summer season have resulted in about five times the amount of claims than the 20-year average, reported the Insurance Bureau of Canada. About 228,000 home, auto and business insurance claims have been made following 2 flooding events, a wildfire,...
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Published on: 2024-09-09
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News – Claims Journal
Article 0 Comments A former Deutsche Bank trader on lost her London lawsuit against the bank for just over 2.6 million pounds ($3.4 million) after she was not paid an individual bonus nearly a decade ago. Shikha Gupta worked until 2017 for Deutsche Bank’s non-core operating unit, which was set...
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Published on: 2024-09-09
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News – Claims Journal
Article 0 Comments The U.S. Transportation Department said on Thursday it is awarding $1 billion for a series of projects aimed at reducing traffic crashes, as road deaths remain sharply higher than pre-pandemic levels. The department separately on Thursday estimated that 18,720 people died in motor vehicle traffic crashes in...
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Published on: 2024-09-06
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News – Claims Journal
Article 0 Comments Silicon Valley billionaire Thomas Siebel has accused the Italian energy company Enel SpA of copying the IP of the software firm he runs, C3.ai. C3, based in Redwood City, California and known for its data management and analysis software, accused Enel of misappropriation of trade secrets and...
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Published on: 2024-09-06
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News – Claims Journal
How claims will be impacted by AI “Claim payments, AI generative sales funnels, back-office support—all of these are areas where AI insurance-related use cases are taking place,” Stavrakis told IB. “The next hot thing will be claim payments, in which a loss occurs, it is reported, read by AI, compared...
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Published on: 2024-09-06
Source:
Insurance Business Magazine
US insurers report $95 billion gain in 1H2024, driven by strong premium growth – Verisk | Insurance Business America Insurance News US insurers report $95 billion gain in 1H2024, driven by strong premium growth – Verisk Industry sees recovery from prior losses, but faces risks from extreme...
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Published on: 2024-09-06
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Insurance Business Magazine
NC Supreme Court to hear COVID-19 business interruption claims case | Insurance Business America Insurance News NC Supreme Court to hear COVID-19 business interruption claims case Restaurateurs argue for coverage under "all-risk" policies without exclusions Insurance News ...
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Published on: 2024-09-06
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Insurance Business Magazine
ALKEME acquires North Point Insurance Agency to expand P&C market reach | Insurance Business America Insurance News ALKEME acquires North Point Insurance Agency to expand P&C market reach Deal to boost its presence in the Northeast Insurance News ...
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Published on: 2024-09-06
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Insurance Business Magazine
Anthony R. O’Donnell // September 6, 2024 (Image source: Gain Life website.) Insurity (Hartford), a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, today announced a partnership with Gain Life (Boston), a company specializing in improving the claims process through the integration of behavioral economics and AI....
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Published on: 2024-09-06
Source:
Insurance Journal
Markel unveils global hire for property, first-party lines | Insurance Business America Property Markel unveils global hire for property, first-party lines New colleague brings over 15 years of industry experience Property By Terry Gangcuangco ...
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Published on: 2024-09-06
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Insurance Business Magazine
Article 0 Comments New Mexico said on Thursday it filed a lawsuit against Snapchat owner Snap Inc. alleging that the messaging app’s policies and design features facilitate the sharing of child sexual exploitation material. The lawsuit brought by New Mexico Attorney General Raul Torrez said a months-long investigation found that...
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Published on: 2024-09-06
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News – Claims Journal
Article 0 Comments Resilience named Jeremy Gittler global head of claims. Gittler will lead the company’s global claims team. Before Resilience, he held underwriting and claims leadership positions at AXA XL, where he built its cyber claims team. Earlier in his career, he handled cyber and technology claims at AIG...
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Published on: 2024-09-06
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News – Claims Journal
Article 0 Comments The Dutch data protection watchdog issued facial recognition startup Clearview AI with a fine of 30.5 million euros ($33.7 million) over its creation of what the agency called an “illegal database” of billion of photos of faces. The Netherlands’ Data Protection Agency, or DPA, also warned Dutch...
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Published on: 2024-09-06
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News – Claims Journal
What could global insurers learn from New Zealand? | Insurance Business America Catastrophe & Flood What could global insurers learn from New Zealand? "We're not stuck in our ways,”"says NZ insurance head Catastrophe & Flood By...
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Published on: 2024-09-05
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Insurance Business Magazine
Article 0 Comments As the market for in-house insurance surpasses a record $200 billion, the underlying reasons for that boom show how a hotter, less stable planet is redrawing the risk map for corporations. Captive insurance, where companies create their own coverage vehicles, is on the rise, according to insurance...
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Published on: 2024-09-05
Source:
News – Claims Journal
AIG no longer in "rehabilitation phase": CEO Zaffino | Insurance Business America Insurance News AIG no longer in "rehabilitation phase": CEO Zaffino He addresses areas of growth for the organization Insurance News By Gia Snape ...
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Published on: 2024-09-05
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Insurance Business Magazine
US property insurance market eases slightly, multifamily and industrial face challenges – Gallagher | Insurance Business America Property US property insurance market eases slightly, multifamily and industrial face challenges – Gallagher Wood-frame construction and fire risks continue to affect segments ...
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Published on: 2024-09-05
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Insurance Business Magazine
Anthony R. O’Donnell // September 5, 2024 (Image source: Addresscloud website.) Sapiens International Corporation, (Holon, Israel/Uxbridge, Middlesex), a global provider of software solutions for the insurance industry, has announced a partnership with Addresscloud, a cloud-based location intelligence provider, to empower insurers with enhanced capabilities to understand geographic risk and make more informed underwriting...
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Published on: 2024-09-05
Source:
Insurance Journal
Reinsurers to maintain strict terms amid rising secondary peril risks – Fitch | Insurance Business America Reinsurance Reinsurers to maintain strict terms amid rising secondary peril risks – Fitch Climate volatility leads to tightening catastrophe coverage conditions Reinsurance ...
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Published on: 2024-09-05
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Insurance Business Magazine
Article 0 Comments Top reinsurers are showing increasing—but disciplined—appetite for natural catastrophe risks as a result of rising demand, better pricing, more favorable terms and conditions, and sound investment income, according to a report published by S&P Global Ratings. Most of the 19 largest global reinsurers rated by S&P increased...
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Published on: 2024-09-05
Source:
News – Claims Journal
Article 0 Comments The robots are coming—and in some cases, they’re here. Advancements in generative artificial intelligence are enhancing claims processes in many ways, from improving First Notices of Loss (FNOLs) to analyzing videos and images to assessing damage quickly. With all of these changes, some may ask: How long...
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Published on: 2024-09-05
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News – Claims Journal
Article 0 Comments A federal judge in San Francisco has ruled that roughly 150 older workers who were laid off by social media platform X when Elon Musk acquired the company can sue for age discrimination as a class, exposing the company to millions of dollars in potential damages. U.S....
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Published on: 2024-09-05
Source:
News – Claims Journal
California urges insurers to cover foster family associations amid coverage crisis | Insurance Business America Insurance News California urges insurers to cover foster family associations amid coverage crisis Court settlements raising challenges in insuring FFAs Insurance News ...
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Published on: 2024-09-04
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Insurance Business Magazine
ReSource Pro acquires Lowry & Associates to expand P&C capabilities | Insurance Business America Insurance News ReSource Pro acquires Lowry & Associates to expand P&C capabilities Deal strengthens premium audit and underwriting survey solutions Insurance News ...
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Published on: 2024-09-04
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Insurance Business Magazine
Article 0 Comments The National Highway Traffic Safety Administration said on Tuesday it had confirmed the 28th death in the United States stemming from a defective Takata air bag inflator since 2009. The issue has prompted the largest-ever recall in U.S. history. Over the past decade, more than 100 million...
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Published on: 2024-09-04
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News – Claims Journal
Article 0 Comments The Atlantic hurricane season continues to roll through its traditionally most active time of year without a storm, however there is a growing chance that may change soon. Two systems — one in the Caribbean and the other near Cabo Verde — have a 40% chance of...
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Published on: 2024-09-04
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News – Claims Journal
Skyline Partners, Munich Re issue payout for Hurricane Beryl in Jamaica | Insurance Business America Reinsurance Skyline Partners, Munich Re issue payout for Hurricane Beryl in Jamaica Policy paid 45% despite no landfall Reinsurance By Kenneth...
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Published on: 2024-09-04
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Insurance Business Magazine
SiriusPoint teams up with Gigasure to offer tailored travel insurance | Insurance Business America Reinsurance SiriusPoint teams up with Gigasure to offer tailored travel insurance Customizable policies include real-time claims support Reinsurance By Kenneth Araullo ...
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Published on: 2024-09-04
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Insurance Business Magazine
WTW unveils Canopius-led property insurance facility | Insurance Business America Property WTW unveils Canopius-led property insurance facility Offering designed to provide additional capacity Property By Terry Gangcuangco Sep 04, 2024 Share ...
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Published on: 2024-09-04
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Insurance Business Magazine
Article 0 Comments Hewlett Packard said it would continue legal proceedings to seek up to $4 billion in damages from British billionaire Mike Lynch’s estate in the UK. The U.S. company had been seeking compensation over its acquisition of British tech firm Autonomy amid claims of fraud masterminded by its...
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Published on: 2024-09-04
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News – Claims Journal
Article 0 Comments The Hawaii Supreme Court will be asked to weigh in on an issue that threatens to thwart a $4 billion settlement in last year’s devastating Maui wildfires. Judge Peter Cahill on Maui agreed to ask the state high court questions about how insurance companies can go about...
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Published on: 2024-09-04
Source:
News – Claims Journal
Anthony R. O’Donnell // September 3, 2024 (Image credit: Marcin Jozwiak/Unsplash.) WTW (London/Arlington, Va.), a global advisory, broking, and solutions company has announced the introduction of a new property facility with Canopius, a Hamilton, Bermuda-based global specialty lines (re)insurer. This exclusive property option, Client Edge Facility, is now available in the market...
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Published on: 2024-09-03
Source:
Insurance Journal
Average annual catastrophe losses hit $151 billion – Verisk | Insurance Business America Catastrophe & Flood Average annual catastrophe losses hit $151 billion – Verisk Urban expansion and inflation fuel rising costs Catastrophe & Flood By...
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Published on: 2024-09-03
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Insurance Business Magazine
Benefits administration market to surge to $144.7 billion by 2028 | Insurance Business America Benefits Benefits administration market to surge to $144.7 billion by 2028 Rising adoption of automation and cloud solutions to bolster growth Benefits ...
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Published on: 2024-09-03
Source:
Insurance Business Magazine
SCOR report investigates optimal solvency ratios for insurers | Insurance Business America Reinsurance SCOR report investigates optimal solvency ratios for insurers What is the ideal balance between risk and capital? Reinsurance By Kenneth Araullo ...
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Published on: 2024-09-03
Source:
Insurance Business Magazine
Europe's top reinsurers thrive amid hard market conditions | Insurance Business America Reinsurance Europe's top reinsurers thrive amid hard market conditions Strong pricing boosts non-life segments despite reporting challenges Reinsurance By Kenneth Araullo Sep...
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Published on: 2024-09-03
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Insurance Business Magazine
Hall also held a position at Lincoln Financial Group as an underwriting and new business operations manager. She began her reinsurance career in 2006 at Willis Re (now Gallagher Re) as AVP, client services, supervising a claims and accounting processing team. Outside of work, Hall enjoys spending time with her...
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Published on: 2024-09-03
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Insurance Business Magazine
Main Street America decides to exit personal lines | Insurance Business America Insurance News Main Street America decides to exit personal lines Firm to "fully resource" its commercial lines focus Insurance News By Terry Gangcuangco ...
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Published on: 2024-09-03
Source:
Insurance Business Magazine
Zurich flood alliance expands to tackle climate resilience | Insurance Business America Environmental Zurich flood alliance expands to tackle climate resilience Transition broadens focus on climate hazards beyond floods Environmental By Kenneth Araullo Sep...
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Published on: 2024-09-03
Source:
Insurance Business Magazine
Article 0 Comments California, Oregon, Colorado, Washington and Arizona are the states most at risk for wildfires, earning an “F” rating, according to a new analysis by Guidewire detailing wildfire risk in the U.S. at local, state, and national levels. Guidewire’s HazardHub data and risk scores for insurers uses more...
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Published on: 2024-09-03
Source:
News – Claims Journal
Hybrid and EV insurance set for surge | Insurance Business America Motor & Fleet Hybrid and EV insurance set for surge Key trends in this rapidly expanding sector outlined Motor & Fleet By Roxanne Libatique ...
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Published on: 2024-09-02
Source:
Insurance Business Magazine
How should risk managers tackle the sustainable supply chain question? | Insurance Business America Risk Management News How should risk managers tackle the sustainable supply chain question? "I'd say start small and be pragmatic" Risk Management News ...
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Published on: 2024-09-02
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Insurance Business Magazine
Reinsurers boost natural catastrophe exposure despite rising costs – S&P | Insurance Business America Reinsurance Reinsurers boost natural catastrophe exposure despite rising costs – S&P Strong capital adequacy and strategic pricing continue to drive the segment Reinsurance ...
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Published on: 2024-09-02
Source:
Insurance Business Magazine
Miller expands sports and entertainment division | Insurance Business America Reinsurance Miller expands sports and entertainment division New face to give the company a lift in Asia Reinsurance By Kenneth Araullo Sep 02, 2024...
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Published on: 2024-09-02
Source:
Insurance Business Magazine
Toa Re maintains rating from AM Best amid improved net income | Insurance Business America Reinsurance Toa Re maintains rating from AM Best amid improved net income Strong capitalization and risk management reinforce the results Reinsurance ...
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Published on: 2024-09-02
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Insurance Business Magazine
Article 0 Comments Main Street America Insurance said Thursday it will stop offering personal lines insurance in favor of a commercial lines strategy. The Jacksonville, Florida-based insurer founded about 100 years ago in Keene, New Hampshire said it is “tightening” its focus and leaning into what it called a “tremendous...
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Published on: 2024-09-02
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News – Claims Journal
Article 0 Comments As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insurance underwriting is tightening across lines. Insurance professionals who specialize in PFAS say insurers are mandating coverage exclusions and, in some cases, declining to write liability policies at all in PFAS-exposed industries. Robin Kelliher, environmental solutions...
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Published on: 2024-09-02
Source:
News – Claims Journal
Gaining an edge in the landscape of agency acquisitions | Insurance Business America Insurance News Gaining an edge in the landscape of agency acquisitions The right buyer should offer more than just capital Insurance News By...
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Published on: 2024-08-30
Source:
Insurance Business Magazine
“By consolidating email, file sharing, SFTP, managed file transfer, and web forms into a private content network protected by a hardened virtual appliance, organizations can ensure that sensitive content is only accessed by authorized users. This approach provides advanced security, comprehensive governance, and regulatory compliance, ensuring the protection of sensitive...
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Published on: 2024-08-30
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Insurance Business Magazine
Article 0 Comments Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts. The British-flagged 56-meter-long (184-foot-long) yacht, which the experts estimated cost around $40...
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Published on: 2024-08-30
Source:
News – Claims Journal
Globe P&C reinsurers report strong earnings in H1 2024 | Insurance Business America Reinsurance Globe P&C reinsurers report strong earnings in H1 2024 This serves as a favourable pricing environment in property and specialty businesses Reinsurance ...
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Published on: 2024-08-30
Source:
Insurance Business Magazine
Article 0 Comments Efforts in California to establish first-in-the-nation safety measures for the largest artificial intelligence systems cleared an important vote this week that could pave the way for U.S. regulations on the technology evolving at warp speed. The proposal, aiming to reduce potential risks created by AI, would require...
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Published on: 2024-08-30
Source:
News – Claims Journal
WTW adds director to international property unit | Insurance Business America Property WTW adds director to international property unit Key hire makes the switch from Miller Insurance Services Property By Terry Gangcuangco Aug 30,...
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Published on: 2024-08-30
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Insurance Business Magazine
Article 0 Comments The saga of the Murdaugh family in South Carolina continues, now with a convenience store company suing its liability insurers for failing to defend it against a second lawsuit stemming from the sale of beer to an underage Paul Murdaugh on a fateful night in 2019. The...
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Published on: 2024-08-30
Source:
News – Claims Journal
Anthony R. O’Donnell // August 29, 2024 (SpaceX Dragon space freighter. Image source: NASA.) Relm Insurance (Hamilton, Bermuda), a specialty insurance carrier supporting emerging industries, has announced that Francesca Faedi, PhD, has joined Relm as a Senior Advisor to support increasing client demand from the space sector. Francesca Faedi, Senior Advisor, Relm. Faedi is...
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Published on: 2024-08-29
Source:
Insurance Journal
TT Club urges vigilance after spate of container ship fires | Insurance Business America Marine TT Club urges vigilance after spate of container ship fires Four major incidents renew calls for better cargo classification, packaging, and handling Marine ...
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Published on: 2024-08-29
Source:
Insurance Business Magazine
NC Supreme Court clears path for liquidation of Lindberg-owned life insurers | Insurance Business America Legal Insights NC Supreme Court clears path for liquidation of Lindberg-owned life insurers Dismissal of appeal advances liquidation of two entities Legal Insights ...
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Published on: 2024-08-29
Source:
Insurance Business Magazine
Article 0 Comments Southern California Edison, a unit of utility Edison International said on Thursday it was seeking approval for a settlement agreement to recover nearly 60% of losses related to wildfires and mudslides in 2017 and 2018. Under the agreement with the California Public Utilities Commission, if approved, the...
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Published on: 2024-08-29
Source:
News – Claims Journal
Article 0 Comments Typhoon Shanshan weakened to a tropical storm after hitting Japan’s southwestern island of Kyushu, with the government continuing to warn that landslides could be triggered by heavy rain as the weather system beats its way slowly across the country in the coming days. Shanshan was located near...
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Published on: 2024-08-29
Source:
News – Claims Journal
Top European reinsurers report strong H1 2024 earnings amid peak cycle | Insurance Business America Reinsurance Top European reinsurers report strong H1 2024 earnings amid peak cycle Fitch Ratings highlights robust P&C results with stable credit profiles Reinsurance ...
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Published on: 2024-08-29
Source:
Insurance Business Magazine
Redline launches new property reinsurance solution for Latin America and the Caribbean | Insurance Business America Reinsurance Redline launches new property reinsurance solution for Latin America and the Caribbean The product offers up to $5 million in coverage Reinsurance...
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Published on: 2024-08-29
Source:
Insurance Business Magazine
Active Re retains rating, outlook stable amid strong performance | Insurance Business America Reinsurance Active Re retains rating, outlook stable amid strong performance Affirmation reflects consistent underwriting practices and a solid capital structure Reinsurance By Kenneth...
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Published on: 2024-08-29
Source:
Insurance Business Magazine
Anthony R. O’Donnell // August 28, 2024 (Image source: IAT Insurance Group homepage.) IAT Insurance Group, a Raleigh, N.C.-based provider of specialty property/casualty products for personal and commercial lines, has selected has selected CLARA Analytics (Sunnyvale, Calif.) Claims Document Intelligence Pro (Claims DocIntel Pro) as its newest AI platform to support its auto...
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Published on: 2024-08-28
Source:
Insurance Journal
Article 0 Comments Cody Chiverton has spent the past decade lighting fires. As a former firefighter with the U.S. Forest Service, he participated in dozens of prescribed burns across the American West, in which fire-prevention teams would carry drip torches to ignite dry vegetation, leaving flames and smoke in their...
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Published on: 2024-08-28
Source:
News – Claims Journal
High yields drive life insurers' strong Q2 performance | Insurance Business America Life & Health High yields drive life insurers' strong Q2 performance Equity markets and robust group benefits enhance profitability Life & Health By Kenneth...
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Published on: 2024-08-28
Source:
Insurance Business Magazine
Audit reveals gaps in Citizens Property Insurance's underwriting controls | Insurance Business America Insurance News Audit reveals gaps in Citizens Property Insurance's underwriting controls Over 1,800 policies exceeded state-mandated coverage limits, report shows Insurance News By...
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Published on: 2024-08-28
Source:
Insurance Business Magazine
Inszone bolsters foothold in Texas with key acquisition | Insurance Business America Insurance News Inszone bolsters foothold in Texas with key acquisition Deal aligns with the company's strategy to grow and serve more clients Insurance News ...
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Published on: 2024-08-28
Source:
Insurance Business Magazine
How will IFRS 17 affect reinsurers' financials? | Insurance Business America Reinsurance How will IFRS 17 affect reinsurers' financials? AM Best on how the market will be impacted by the significant accounting change Reinsurance By Kenneth...
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Published on: 2024-08-28
Source:
Insurance Business Magazine
Reinsurance profits remain strong with robust underwriting and investments – Fitch | Insurance Business America Reinsurance Reinsurance profits remain strong with robust underwriting and investments – Fitch Trend to continue well into 2025 with solid results abound Reinsurance ...
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Published on: 2024-08-28
Source:
Insurance Business Magazine
Greg Lindberg loses appeal against Universal Life Insurance Company | Insurance Business America Legal Insights Greg Lindberg loses appeal against Universal Life Insurance Company No error found in "well-reasoned" decision Legal Insights By Terry Gangcuangco ...
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Published on: 2024-08-28
Source:
Insurance Business Magazine
Time for real culprits to pay for climate change as insurance becomes “unsustainable” | Insurance Business America Environmental Time for real culprits to pay for climate change as insurance becomes “unsustainable” Campaigner hits out as firms struggle with financial impact ...
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Published on: 2024-08-28
Source:
Insurance Business Magazine
In the latest edition of IBTV, join Jencap's Ben Beazley, EPIC Insurance Brokers' Michael Korn and HUB's Jerry Assael as they look at the state of the property insurance market in the US on the back of significant underwriting losses. Among the themes they discuss are: the impact of natural...
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Published on: 2024-08-27
Source:
Insurance Business Magazine
Anthony R. O’Donnell // August 27, 2024 (Image source: Guidewire.) As wildfire season continues to impact California and other western states, Guidewire (San Mateo, Calif.) has announced the availability of data and maps detailing wildfire risk at the national, state and local levels through HazardHub, accessible through Guidewire’s solutions, including...
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Published on: 2024-08-27
Source:
Insurance Journal
Anthony R. O’Donnell // August 27, 2024 (Image source: Sapiens website) Sapiens International Corporation, (Holon, Israel/Rochelle Park, N.J.), a global provider of software solutions for the insurance industry, has announced the launch of its latest version of Sapiens CoreSuite for Property & Casualty for the North American insurance market. Roni Al-Dor, President...
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Published on: 2024-08-27
Source:
Insurance Journal
Article 0 Comments AccuWeather meteorologists are warning that the Atlantic hurricane season could intensify in the coming weeks as less wind shear and less dry air create conducive conditions for storm development. AccuWeather is forecasting six to 10 named storms to form in the Atlantic from Aug. 27 to Sept....
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Published on: 2024-08-27
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News – Claims Journal
Article 0 Comments Thunderstorm alerts are in place for a swath of Europe from the south of France to the Balkans. There are orange warnings for Lombardy, Piedmont, Tuscany and Umbria in Italy, as the summer heat gives way to violent storms. Serbia faces similar alerts, while the French Riviera...
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Published on: 2024-08-27
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News – Claims Journal
Article 0 Comments CrowdStrike’s results on Wednesday will offer a first look at the financial implications of the global cyber outage that paralyzed Microsoft Windows operating system last month, with investors keen to understand the impact on the cybersecurity firm’s reputation and whether it has led to potential market share...
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Published on: 2024-08-27
Source:
News – Claims Journal
Article 0 Comments California’s wildfires are weighing on home prices more than in the past, and insurance availability does little to help in areas considered to be at higher risk, according to a Federal Reserve Bank of San Francisco study. “Our results suggest that property values have been more adversely...
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Published on: 2024-08-27
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News – Claims Journal
Article 0 Comments Citigroup alleges that a former managing director suing the bank was fired for performance reasons, rather than for what she said were attempts by the bank to give regulators false information. On Thursday, the bank responded to a lawsuit filed in May by Kathleen Martin, a former...
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Published on: 2024-08-26
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News – Claims Journal
Article 0 Comments Conflicting federal policies may force thousands of residents in flood-prone areas to pay more for flood insurance or be left unaware of danger posed by dams built upstream from their homes and worksites, according to an Associated Press review of federal records and data. The problem stems...
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Published on: 2024-08-26
Source:
News – Claims Journal