Article 0 Comments If the insurance industry hasn’t noticed, the sport known as pickleball is exploding across the country, especially in Florida, where more than 15 indoor clubs, replete with air conditioning, cafes, locker rooms, video training and other amenities are planned or are under construction. The growth has... Read more
Published on: 2022-12-05
By William Rabb
Article 0 Comments JAKARTA, Indonesia (AP) — A strong earthquake shook parts of Indonesia’s main island of Java on Saturday, causing panic but only minor damage just two weeks after an equally powerful quake killed hundreds. The U.S. Geological Survey said the magnitude 5.7 quake was centered about 18... Read more
Published on: 2022-12-05
Housing slump This will “finally allow FHA insured borrowers freedom of choice”, according to Craig Poulton, CEO of Poulton Associates and owner of CATCoverage, but the timing could be better. It comes as America faces a mortgage slump, with mortgage application pace reportedly at its lowest since 1997 as of... Read more
Published on: 2022-12-05
By Insurance Business
“A lot of loss control, especially in middle market, isn’t really focused on improving the quality of the safety at an organization – the insurance company’s primary goal is figuring out the right price and not preventing claims,” said Kelly McLaughlin, Foresight’s head of insurance. “We take a different approach,... Read more
Published on: 2022-12-05
By Insurance Business
Hurricane Ian slammed into the west coast of Florida on Sept. 28 with winds of almost 250km/h, making it the fifth-strongest storm – alongside several previous storms with similar wind speeds – to hit the US mainland since systematic records began over 100 years ago. According to Munich Re, preliminary... Read more
Published on: 2022-12-05
By Insurance Business
What’s the truest metric of the success of a conference? There’s a lot to choose from between the quality of the speakers, the amount of sponsorship raised, the number of attendees and the engagement levels of the event itself. No matter your chosen metrics, by any reckoning Airmic’s inaugural... Read more
Published on: 2022-12-05
By Insurance Business
National program administrator Starfish Specialty Insurance has announced that it has completed a second funding round, raising $2.5 million in new equity capital and $500,000 in debt to fund its continued expansion. The round was led by Starfish Specialty’s founders and supported by others including industry veteran Brad Emmons,... Read more
Published on: 2022-12-05
By Insurance Business
Rising interest rates and balance-sheet strength will help buffer North American life insurers from the volatile macroeconomic conditions of the coming year, Fitch Ratings has predicted, leading the agency to propound a neutral sector outlook for 2023. While the outlook from Fitch Ratings took into account economists’ expectations for... Read more
Published on: 2022-12-05
By Insurance Business
The award was accepted on Mov. 16 by Craig Booher, Allied Stone’s retiring director of safety, and Neil Smith, the current director, on behalf of Allied Stone and subsidiaries Square Cabinetry, Allied Gallery, KEMI Surfaces, and Allied Interior Solutions. Texas Mutual’s awards program promotes worker safety through the company's “Work... Read more
Published on: 2022-12-05
By Insurance Business
Article 0 Comments HONOLULU (AP) — Prayer. Bombs. Walls. Over the decades, people have tried all of them to stanch the flow of lava from Hawaii’s volcanoes as it lumbered toward roads, homes and infrastructure. Now Mauna Loa — the world’s largest active volcano — is erupting again, and... Read more
Published on: 2022-12-02
By Admin
Article 0 Comments MIAMI (AP) — An Atlantic hurricane season that had 14 named storms officially ended on Wednesday, leaving residents in the Florida Keys to celebrate even as others around Florida and Puerto Rico continue to grapple with the damage caused by Hurricanes Ian, Nicole and Fiona. Munich... Read more
Published on: 2022-12-02
Anthony R. O’Donnell // December 2, 2022 (Image source: Intelligent AI homepage.) InsurTech Intelligent AI (Exeter, Devon) announced that it has raised £2m in seed funding, led by SuperSeed (London), following increasing traction in the market. Intelligent AI says investment will be used to develop its Intelligent Risk Underwriting... Read more
Published on: 2022-12-02
By Anthony O'Donnell
It is not a question of if a client’s business will face a cyberattack, but when. At a time when the frequency and severity of cybercrime is on the rise, why would any organization leave its future to chance? When plotting an office fire drill, an organization identifies fire captains,... Read more
Published on: 2022-12-02
By Insurance Business
“2022 has been another year of increased natural catastrophe loss activity, and demand for insurance is growing as the protection gap remains vast,” said Thierry Léger, group chief underwriting officer at Swiss Re. “To enable the insurance industry to keep up with increasing volatility and demand, it will be key... Read more
Published on: 2022-12-02
By Insurance Business
Article 0 Comments Progressive Partners with Motive to Curb Commercial Auto Claims Motive, a fleet management company formerly known as KeepTruckin, has announced a partnership with Progressive Commercial to offer Motive’s market-leading AI-based safety solution to Progressive Commercial customers. The new partnership is aimed at helping customers increase safety... Read more
Published on: 2022-12-02
By Admin
Article 0 Comments Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost insurers an estimated $115 billion so far this year, according to a report published by Swiss Re Institute. This is the second consecutive... Read more
Published on: 2022-12-01
By Lisa Howard
Article 0 Comments SAO PAULO — Landslides after heavy rains in southern Brazil left dozens of people missing in Parana state and cut off access to a major port for grains and sugar shipments, authorities said on Wednesday. The BR-277 road to Paranagua and Antonina ports has been closed... Read more
Published on: 2022-12-01
By Admin
Article 0 Comments HILO, Hawaii (AP) — The first eruption in 38 years of the world’s largest active volcano is attracting onlookers to a national park for “spectacular” views of the event, and it’s also dredging up bad memories among some Hawaii residents who have been through harrowing volcanic... Read more
Published on: 2022-12-01
By Admin
The key for agencies to survive, and even thrive, in economic uncertainty is customer retention. Bolstering client relationships by taking initiative, leaning into the “trusted advisor” role, and leveraging technology are just some of the ways independent agents can recession-proof their business. “While successful agency owners experience the challenges of... Read more
Published on: 2022-12-01
By Insurance Business
A new special report from AM Best has found that the US P&C industry recorded a $24.3 billion net underwriting loss in the first nine months of 2022. The $24.3 billion net underwriting loss is down $17.9 billion from the prior year period, AM Best noted, as a 8.4%... Read more
Published on: 2022-12-01
By Insurance Business
Despite increased loss activity in the third quarter, global (re)insurers’ combined ratios remained strong in the first nine months of 2022, according to a new report from Gallagher Re. While loss activity increased in the third quarter, underwriting performance remained strong through the first nine months of the year... Read more
Published on: 2022-12-01
By Insurance Business
Anthony R. O’Donnell // November 30, 2022 (Image credit: Raysonho/Wikipedia.) Aviva Canada has implemented Mitchell’s (San Diego) full suite of enterprise claims management solutions, including Mitchell WorkCenter and Mitchell Cloud Estimating, to help simplify claims processing and deliver a seamless, digital claims experience to customers. Part of Aviva plc (London), Aviva Canada... Read more
Published on: 2022-11-30
By Anthony O'Donnell
Article 0 Comments A U.S. appeals court on Tuesday seemed unlikely to revive claims that Amazon.com Inc AMZN.O fired New York warehouse worker Christian Smalls, a pivotal figure in a campaign to unionize the company’s workforce, because of his race. A three-judge 2nd U.S. Circuit Court of Appeals panel... Read more
Published on: 2022-11-30
By Admin
Article 0 Comments JACKSON, Miss. (AP) — Forecasters warned of the potential for strong tornadoes that could stay on the ground for long distances in parts of the South on Tuesday, as well as flooding rains and hail the size of tennis balls. More than 25 million people will... Read more
Published on: 2022-11-30
Less than a week after a Thanksgiving shoot-out killed a 30-year-old man and wounded another in Buffalo, Oklahoma, another deadly shooting was reported – this time in Oklahoma City, and over a denied insurance claim. The customer in Oklahoma City objected to his denied insurance claim in the worst... Read more
Published on: 2022-11-30
By Insurance Business
Article 0 Comments Sompo Names Head of Claims Glen Bronstein Sompo International Holdings Ltd., a Bermuda-based speciality insurer, has appointed Glen Bronstein as executive vice president and head of insurance claims for the North America region. Bronstein will report to North America Chief Executive Officer Chris Sparro. Bronstein was... Read more
Published on: 2022-11-30
By Admin
Article 0 Comments Tesla Inc. is making its controversial driver-assistance system available to customers previously deemed not safe enough behind the wheel to test it out. Chief Executive Officer Elon Musk tweeted that the system Tesla calls Full Self-Driving Beta is now available to anyone in North America who’s... Read more
Published on: 2022-11-30
By Admin
Article 0 Comments A tragic accident at a Massachusetts auto auction company is not covered by the insurance of the auto dealer that hired the auction company to sell the vehicle involved in the accident. A federal appeals court has declined to perform “amazing feats of linguistic gymnastics” to... Read more
Published on: 2022-11-29
By Andrew G. Simpson
Article 0 Comments HONOLULU (AP) — Hawaii’s Mauna Loa, the world’s largest active volcano, has started to erupt for the first time in nearly four decades, prompting volcanic ash and debris to fall nearby, authorities said Monday. The eruption began late Sunday night in the summit caldera of the... Read more
Published on: 2022-11-29
Liberty Mutual Insurance has announced the appointment of Maria Grace (pictured above) to the newly created position of global product leader, property. Grace will assume the role effective Jan. 3. She will report to Matthew Moore, president of underwriting for Global Risk Solutions (GRS). In her new role, Grace... Read more
Published on: 2022-11-29
By Insurance Business
Article 0 Comments The Florida Supreme Court on Monday suspended the law license of attorney Jennifer Perez, who was in charge of a “mobile claim center” that was set up in a trailer in North Fort Myers about a week after Hurricane Ian passed through the region. The high... Read more
Published on: 2022-11-29
By Jim Sams
Article 0 Comments Formal hazard assessments at restaurants are key in reducing worker injuries and insurance claims. In recent years, however, a sizeable number of companies have not conducted the required inspections. According to a Marsh survey, 49% of companies haven’t conducted a formal assessment of hazard exposures in... Read more
Published on: 2022-11-28
By Admin
Article 0 Comments NEW YORK (AP) — The mass shooting Wednesday at a Walmart in Virginia was only the latest example of a workplace shooting perpetrated by an employee. But while many companies provide active shooter training, experts say there is much less focus on how to prevent workplace... Read more
Published on: 2022-11-28
By Admin
Article 0 Comments MEXICO CITY (AP) — Mexico’s domestic airline industry is in shambles, plagued by safety problems, a ratings downgrade by the U.S. Federal Aviation Administration, and vandalism. This week alone, passengers missed connections because thieves cut the fiber optic cables leading into the Mexico City airport, forcing... Read more
Published on: 2022-11-28
Article 0 Comments WARD, S.C. (AP) — A fire at a South Carolina processing plant for chicken byproduct, which is used as an ingredient for pet food, has been extinguished, authorities said Friday. The fire started Thursday at Valley Proteins Inc. in Saluda County, news outlets reported. No one... Read more
Published on: 2022-11-28
Article 0 Comments SMITH ISLAND, Md. (AP) — For the people of Smith Island, weather guides a way of life as much as the tranquil atmosphere for which it has become known. Hurricanes with names like Hazel, Agnes, Isabel and Irene become part of the zeitgeist, never fading from... Read more
Published on: 2022-11-28
By Admin
Article 0 Comments CINCINNATI (AP) — A federal appeals court has revived a wrongful death claim against Walmart by the family of a Black man who was fatally shot by a white police officer inside an Ohio store after picking up a pellet rifle from a shelf. Twenty-two-year-old John... Read more
Published on: 2022-11-28
Anthony R. O’Donnell // November 28, 2022 (Image credit: Jorge Fernández Salas/Unsplash.) Toyota Insurance Management Spain (Toyota Seguros, Madrid) has signed an agreement with Sapiens International Corporation (Holon, Israel) with the aim of replacing its legacy core system, transforming and modernizing its business, according to a Sapiens statement. Per... Read more
Published on: 2022-11-28
By Anthony O'Donnell
Meanwhile, GlobalData found that State Farm’s market share declined from 15.9% in 2017 to 13.9% in 2021. In 2021, Progressive expanded its commercial motor business by acquiring Protective Insurance Corporation, which gave it a larger fleet and additional product lines. This acquisition helped Progressive record direct written premium (DWP) growth... Read more
Published on: 2022-11-28
By Insurance Business
The property and casualty insurance provider Sompo International has appointed Glen Bronstein executive vice president and head of insurance claims for North America. He will be in charge of claims across Bermuda, Canada, Mexico, and the US in his new role. Bronstein will now be a part of the... Read more
Published on: 2022-11-28
By Insurance Business
Article 0 Comments The World Shipping Council reported that for 2020-2021, the two-year average annual loss of containers overboard was 3,113 units. That is more than four times the total for the previous three-year, 2017-2019, average loss of 719 units. Two defects contribute to container stack collapses that can... Read more
Published on: 2022-11-28
By Admin
Workers’ compensation insurance, also known as workers comp coverage, is a type of business insurance policy that covers the cost of hospitalization and other medical bills and a portion of employees’ lost income if they get seriously hurt or sick while doing their jobs. This form of coverage also protects... Read more
Published on: 2022-11-25
By Insurance Business
Actress Amber Heard has filed a countersuit against her insurer, claiming that the company breached its contract when it refused to honor her $1 million liability policy for defamation claims, in relation to the infamous trial of her ex-husband Johnny Depp. The Depp v. Heard trial ruled on allegations... Read more
Published on: 2022-11-25
By Insurance Business
Article 0 Comments Florida officials this week announced the hard launch of My Safe Florida Home, a program that provides up to $10,000 grants for wind-mitigation efforts for homeowners in vulnerable areas. Once completed, the fortification work can result in significant discounts on property insurance premiums. The Florida Legislature... Read more
Published on: 2022-11-23
By Admin
Article 0 Comments BEIJING (AP) — Investigators said that sparks from welding work appears to have been the cause of a fire that killed 38 people at a company dealing in chemicals and other industrial goods in central China’s Henan province. Two other people were injured in the blaze... Read more
Published on: 2022-11-23
When something bad happens, policyholders need to file an insurance claim to access their policies’ benefits. This often entails a complicated process but armed with the right knowledge, insured groups and individuals can find the path towards receiving payouts to be smooth sailing. In this part of our client education... Read more
Published on: 2022-11-23
By Insurance Business
Almost two-thirds of US homeowners in fire-risk states are concerned about the risk of wildfires – yet few are actively taking steps to protect their properties, and even fewer are unsure if their current insurance coverage is enough for fire damage, a new survey by the National Association of... Read more
Published on: 2022-11-23
By Insurance Business
“The number of fires on board large vessels has increased significantly in recent years, with a string of incidents involving cargo, which can easily lead to the total loss of a vessel or environmental damage,” said Régis Broudin, AGCS global head of marine claims. “At the same time, the shipping... Read more
Published on: 2022-11-23
By Insurance Business
Article 0 Comments The Louisiana Supreme Court has agreed to review an appellate court decision that found the COVID virus caused a direct physical loss that was covered by insurance. The Louisiana high court announced Tuesday that it will take up an appeal filed by a Lloyd’s of London... Read more
Published on: 2022-11-23
By Jim Sams
Article 0 Comments The New York Department of Financial Services announced it will issue temporary permits to qualified out-of-state independent insurance adjusters in order to expedite insurance claims in light of the winter storm that hit the state over the weekend. DFS Superintendent Adrienne A. Harris said temporary adjuster... Read more
Published on: 2022-11-22
By Admin
Article 0 Comments SHKODER, Albania (AP) — Torrential rains in the Balkans over the past two days led to floods that killed at least six people, prompted widespread evacuations and caused significant damage, authorities said Monday. One of the most impacted areas was in northwestern Albania, where thousands of... Read more
Published on: 2022-11-22
By Admin
Article 0 Comments LOS ANGELES (AP) — Remains of a man were found in the rubble of one of two major fires in Los Angeles during the weekend, authorities said Sunday. The remains were found shortly after noon as firefighters continued to cool down smoldering debris, fire spokesperson Brian... Read more
Published on: 2022-11-22
Article 2 Comments The attorney accused of setting up a deceptive “mobile claim center” to solicit hurricane victims filed a motion on Monday to dismiss the Florida Bar’s complaint against her. A lawyer for Jennifer Perez, a partner with Gauthier Murphy & Houghtaling, said the tent and trailer that... Read more
Published on: 2022-11-22
By Jim Sams
Article 0 Comments Knowing how to effectively negotiate and settle cases is essential when handling workers compensation claims. To do this well, you need to know how to prepare and execute an action plan for settlement. As defined in Webster’s Dictionary, “win” means to succeed in reaching or achieving... Read more
Published on: 2022-11-21
By Admin
Article 0 Comments A Florida appeals court has upheld the dismissal of no fewer than 16 auto glass assignment-of-benefits lawsuits against Progressive Insurance companies, perhaps putting an exclamation point on the enforceability of appraisal clauses and policy language that bars claims litigation. The 5th District Court of Appeals, based... Read more
Published on: 2022-11-21
By William Rabb
King Insurance, one of the fastest-growing full-service insurance brokerages in the nation, has announced that it has acquired Florida-based Hunt Insurance Group. Founded in 1945, Hunt is a specialty broker that advises housing authorities, prison systems and municipalities on insuring their unique risks. The firm specializes in self-funded solutions... Read more
Published on: 2022-11-21
By Insurance Business
Published on: 2022-11-21
By Insurance Business
Article 0 Comments The Florida State Bar is seeking sanctions against a partner with a prominent New Orleans area law firm, alleging that she used deceptive tactics to solicit clients after Hurricane Ian. The bar on Thursday filed a petition with the Florida Supreme Court asking for an emergency... Read more
Published on: 2022-11-21
By Jim Sams
Article 0 Comments United Airlines will pay $305,000 to a Buddhist pilot and will provide other relief to settle a religious discrimination lawsuit filed by the Equal Employment Opportunity Commission (EEOC), the federal agency’s New York office announced. According to the EEOC’s lawsuit, the pilot was diagnosed with alcohol... Read more
Published on: 2022-11-18
By Andrew G. Simpson
Anthony R. O’Donnell // November 18, 2022 (Equitable Employee Benefits headquarters in Charlotte, N.C. Source: Equitable.)  The Equitable (Equitable Holdings, New York) has an over 160-year history, but its Employee Benefits division (Charlotte, N.C.) is only “seven years young,” as Stephanie Shields, the company’s top officer likes to say. As... Read more
Published on: 2022-11-18
By Anthony O'Donnell
California Insurance Commissioner Ricardo Lara, together with the United Nations’ Principles for Sustainable Insurance Initiative (PSI), announced the introduction of a “Sustainable Insurance Roadmap” for the state – considered America’s largest insurance market. Lara and Butch Bacani, who leads the UN PSI, introduced the Sustainable Insurance Roadmap at the... Read more
Published on: 2022-11-18
By Insurance Business
Specialty insurance brokerage Risk Strategies has announced that it has acquired Texas-based Wallace Specialty Insurance Group. Terms of the transaction were not disclosed. Wallace Specialty was founded in 2012 to provide insurance services for the dental industry. The firm creates customized insurance plans for dental service organizations, dentists, and... Read more
Published on: 2022-11-18
By Insurance Business
“In our view, the global economy will cool down noticeably under the weight of inflation and interest rate shocks,” said Jérôme Haegeli, Swiss Re group chief economist. “The repricing of risk in the real economy and financial markets is actually healthy and a long-term positive. Higher risk-free rates should mean... Read more
Published on: 2022-11-18
By Insurance Business
The detailed sustainability strategy lays out the steps which the company will take over the next 36 months and provides multi-point plans for how it will implement ESG criteria and monitor its performance effectively, a release said. MS Amlin added that the plan would support its commitment to minimizing the... Read more
Published on: 2022-11-18
By Insurance Business
Article 0 Comments A liability insurer may have a duty to defend Yahoo Inc. from class-action lawsuits that alleged it violated the Telephone Consumer Protection Act by sending its customers unwanted text messages, the California Supreme Court ruled Thursday. In a unanimous decision, the high court found that an... Read more
Published on: 2022-11-18
By Jim Sams
Anthony R. O’Donnell // November 18, 2022 (Image credit: Dave Hoefler/Unsplash.) Midwest Family Mutual Insurance Company (Minneapolis), a provider of coverage across twenty four states for over 100 years, has selected Betterview’s Property Intelligence Platform to better analyze risk in their book of business, reduce expenses, and improve its loss... Read more
Published on: 2022-11-17
By Anthony O'Donnell
Miles O’Donnell // November 18, 2022 (Image credit: Pop & Zebra/Unsplash.) Gradient AI, a Boston-based provider of artificial intelligence software solutions in the insurance industry has announced that MEMIC, (Portland, Maine) has adopted its underwriting solution to better identify risks and improve the underwriting accuracy of workers’ compensation policies.... Read more
Published on: 2022-11-17
By Miles O'Donnell
Article 0 Comments WASHINGTON —U.S. auto safety regulators on Thursday confirmed a new death tied to a defective air bag inflator in a 2006 Ford Ranger pickup and reiterated urgent calls for owners to get their vehicles repaired. Chrysler parent Stellantis STLA.MI earlier this month urged owners of 276,000... Read more
Published on: 2022-11-17
By Admin
Article 0 Comments LOS ANGELES (AP) — One of four workers who inhaled carbon dioxide in an accident at Los Angeles International Airport has died, his family said. Cris Abraham, 36, of Lomita died on Nov. 11 at a hospital where he’d been in a medically induced coma, his... Read more
Published on: 2022-11-17
Specialty reinsurance broker BMS Re has announced the appointment of Christopher Larson as managing director and co-head of casualty broking. Larson will be based in New York and will report to Sean Ryan, deputy CEO at BMS Re. In his new role, Larson will contribute to the buildout of... Read more
Published on: 2022-11-17
By Insurance Business
Article 0 Comments Collision repair shop owner Steve Piispanen didn’t hire an attorney because he considers them to be “not educated” when it comes to insurance law. He represented himself when he appealed a local judge’s decision to dismiss a $1,093.37 claim against State Farm Mutual Automobile Insurance Co.... Read more
Published on: 2022-11-17
Anthony R. O’Donnell // November 17, 2022 (Image credit: Malachi Brooks/Unsplash.) CSAA Insurance Group (Walnut Creek, Calif.) has adopted ZestyAI’s (San Francicsco) Z-FIRE to help evaluate wildfire risk at the single property level. The insurer plans to integrate the solution into its underwriting and rating processes for homeowners’ insurance,... Read more
Published on: 2022-11-16
By Anthony O'Donnell
Anthony R. O’Donnell // November 16, 2022 (Image source: Betterview.) Betterview (San Francisco), an InsurTech provider of actionable property intelligence to property/casualty insurers, and core insurance system/platform provider Guidewire (San Mateo, Calif.), have announced the launch of Betterview’s new Hail Risk Insights, created in collaboration with Guidewire.  A Betterview statement says that Hail Risk... Read more
Published on: 2022-11-16
By Anthony O'Donnell
Article 0 Comments SYDNEY (AP) _ Around 1,000 people in the Australian town of Forbes were told to evacuate their homes on Tuesday ahead of flooding while much of central New South Wales state was on high alert. The State Emergency Service said the Lachlan River was rising faster... Read more
Published on: 2022-11-16
Article 0 Comments ATLANTA (AP) — A California company seeking to build small electric aircraft says it will invest $118 million to construct a plant near Atlanta, eventually hiring up to 1,000 people. Archer Aviation, based in Santa Clara, California, said Monday that it would seek to build its... Read more
Published on: 2022-11-16
By Admin
Article 0 Comments DALLAS (AP) — Officials on Monday identified the six men killed in a deadly collision between two vintage military aircraft at a Dallas air show, all of whom were experienced aviators with years of flight training. The Commemorative Air Force, which put on the show, identified... Read more
Published on: 2022-11-16
Specialty insurer Beazley has announced that it aims to raise £385 million (approx. $456.5 million) by selling new shares in the business, equivalent to a 10% stake. The insurer said it will raise funds to expand its cyber and specialty businesses. It will conduct the share placement through an... Read more
Published on: 2022-11-16
By Insurance Business
Citizens Property Insurance Corporation, a not-for-profit alternative insurer, has updated its Hurricane Ian estimates to reflect additional costs expected from litigation and other claims-related expenses. Citizens now estimates that direct loss-adjustment expenses related to the Category 4 storm, which slammed into Florida in September, will total $3.8 billion. That’s... Read more
Published on: 2022-11-16
By Insurance Business
SCOR has announced the appointment of Emma Bartolo (pictured above) as global segment leader for its environmental impairment liability (EIL) insurance portfolio. Bartolo will join the company in February and will be based in London. She will report to Marie Biggas, chief underwriting officer of SCOR UK and active... Read more
Published on: 2022-11-16
By Insurance Business
People are using words like ‘stabilizing,’ ‘maturing,’ and ‘optimism’ in relation to the cyber insurance market – and whether they’re apt terms to describe the current state of the sector or not, I strongly believe this is no time for the industry to relax. In fact, I’m not sure the... Read more
Published on: 2022-11-15
By Insurance Business
Article 0 Comments DUBLIN –– BOC Aviation Ltd. has begun legal action in pursuit of claims against 16 insurers over aircraft the lessor owns that are stuck in Russia, an Irish High Court filing shows. The insurers named in the proceedings, which the filing shows were issued on Nov.3,... Read more
Published on: 2022-11-15
Article 0 Comments DAYTONA BEACH SHORES, Fla. (AP) — Damages are estimated at more than $481 million in a central Florida coastal county where homes collapsed into the Atlantic Ocean following Hurricane Nicole last week. The damages from the category 1 storm in Volusia County, home to Daytona Beach,... Read more
Published on: 2022-11-15
Anthony R. O’Donnell // November 15, 2022 (Image source: Send homepage.) Send Technology Solutions Ltd, a London-based InsurTech, has closed a Series A funding investment of £9m. The round was led by Venture Capital firm Breega (Paris) with participation from Mercia (Henley-in-Arden, Warwickshire, U.K.) and will be used to... Read more
Published on: 2022-11-15
By Anthony O'Donnell
Article 0 Comments A group of insurers – including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers – are challenging an approval of the Boy Scouts of America’s $2.46 billion bankruptcy reorganization plan to allow the organization to settle tens of thousands of sex abuse claims. According... Read more
Published on: 2022-11-14
By Chad Hemenway
Article 0 Comments NEW MELLE, Mo. (AP) — An elderly Missouri couple died in a fire when a man refused to leave his wife as their home burned and the floor that was their escape route collapsed, fire officials said. Kenneth and Phyllis Zerr, both 84, died in the... Read more
Published on: 2022-11-14
Article 0 Comments WILBUR-BY-THE-SEA, Fla. (AP) — Heavy rain from the remnants of Hurricane Nicole covered the eastern United States from Georgia to the Canadian border Friday while hundreds of people on a hard-hit stretch of Florida’s coast wondered when, or if, they could return to their homes. As... Read more
Published on: 2022-11-14
By Admin
Article 0 Comments LOS ANGELES (AP) — A dive boat captain pleaded not guilty in federal court for a second time to manslaughter in the fiery deaths of 34 people trapped below deck on his burning vessel three years ago off Southern California. A federal grand jury issued a... Read more
Published on: 2022-11-14
By Admin
Anthony R. O’Donnell // November 14, 2022 (Image credit: Wade Austin Ellis/Unsplash.) Parametric flood insurance company FloodFlash (London) has announced the hiring of Mark Hara as CEO of North of America. FloodFlash reports that, after an extensive search, Hara joins to lead the company’s expansion into the U.S. insurance... Read more
Published on: 2022-11-14
By Anthony O'Donnell
Article 0 Comments DALLAS (AP) — Two historic military aircraft collided and crashed Saturday during an air show in Dallas, exploding into a ball of flames and sending black smoke billowing into the sky. It was not clear how many people were on board. Emergency crews raced to the... Read more
Published on: 2022-11-14
By Admin
Denise Garth // November 14, 2022 (Image credit: Tomasz Frankowski/Unsplash.) If you’re counting the years since the inception of the term InsurTech, you may be surprised to know that it is officially 12 years old. InsurTech is still in the “tween” years, though it is getting ready to move... Read more
Published on: 2022-11-14
By Anthony O'Donnell
Read more: Is the "largest private insurer failure in P&C history" coming? Ian, which made landfall as a category four storm in late September, was Florida’s first major storm since 2018’s Michael. HCI Group, which includes Homeowners Choice and TypTap, saw its net loss shoot from $4.9 million in Q3... Read more
Published on: 2022-11-14
By Insurance Business
Article 0 Comments SAN DIEGO — Technological innovations and changing work arrangements brought on by the COVID-19 pandemic are among some of the emerging issues that can make employers vulnerable to discrimination lawsuits, a top employment practices defense attorney said Thursday. Barry A. Hartstein, co-chair of the Equal Employment... Read more
Published on: 2022-11-14
By Jim Sams
Dynata polled more than 1,600 respondents in the US and Canada between August and September this year on their cyber risk attitudes and behaviors. “One of the biggest takeaways from this report is that it validated what we were thinking around people’s awareness of their cyber risks,” said Carolyn Boris,... Read more
Published on: 2022-11-11
By Insurance Business
The board of directors said it was fortunate to have Zaffino continue his leadership of AIG for “at least the next five years”, having witnessed firsthand his ability to turn his strategic visions into measurable success. “Under Peter’s leadership, AIG has delivered on ambitious operational and financial objectives and is... Read more
Published on: 2022-11-11
By Insurance Business
Article 0 Comments LONDON/BRUSSELS —Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The Group of Seven (G7), which includes the United... Read more
Published on: 2022-11-10
Anthony R. O’Donnell // November 10, 2022 (Image credit: Jonas Leupe/Unsplash.) Insurity (Hartford), a provider of cloud-based software for insurance carriers, brokers, and MGAs, today announced Kingstone Insurance Company (Kingston, N.Y.), a subsidiary of Kingstone Companies, Inc. (Hewlett, N.Y.), has gone live with its artificial intelligence (AI) powered Sure... Read more
Published on: 2022-11-10
By Anthony O'Donnell
Article 0 Comments JACKSON, Miss. (AP) — Authorities have arrested a suspect in connection with seven fires set across Mississippi’s capital city early Tuesday. At least two of the buildings set ablaze in Jackson were churches; one was burned to the ground. Another fire broke out on fences surrounding... Read more
Published on: 2022-11-10
By Admin
Article 0 Comments Nicole, now a tropical storm, is lashing central Florida with heavy rain and powerful wind, leaving a trail of blackouts and floods. The storm came ashore early Thursday as a rare November hurricane and since then its winds have dropped to 50 miles (80 kilometers) per... Read more
Published on: 2022-11-10
By Admin
Article 0 Comments NEW YORK (AP) — A woman who recently settled a lawsuit in which she had claimed to have been sexually trafficked to Britain’s Prince Andrew and others by the financier Jeffrey Epstein has dropped a similar claim against noted American attorney Alan Dershowitz, saying she may... Read more
Published on: 2022-11-10
By Admin
A new report from Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, shines a light on current global M&A insurance claims trends. The Liberty GTS 2022 Claims Briefing includes detailed information about the types of M&A deals and industries most likely to involve a claim, as well... Read more
Published on: 2022-11-10
By Insurance Business