Read more: Momentous business interruption ruling reached in Missouri In a coverage analysis of this particular dispute, one expert said that Jemb Realty doesn’t have much of a leg to… Read More

[embedded content] It’s become commonplace to say COVID-19 has “changed everything” and that we’re now figuring out how to live within “the new normal.”… Read More

With the challenges facing individuals and businesses right now, the insurance industry is needed more, not less, so how the sector adapts to the changes brought on by COVID-19 is going to… Read More

AXA has entered an agreement to sell its insurance businesses in the Gulf region to Gulf Insurance Group (GIG) for $269 million. These include its shareholdings in AXA Gulf, AXA Cooperative… Read More

The average payment for auto physical damage insurance claims increased at more than double the rate of inflation from 2010 through 2018, according to a new study from the Insurance Research… Read More

The Knights of Columbus has donated $25,000 to the Connecticut Food Bank. The donation will provide tens of thousands of meals to those in need this holiday season. The donation is part of t… Read More

It illustrated the heightened risk of adverse reputational threats faced by organizations, both internally and externally, as these organizations digitize their operations and customer enga… Read More

Sumitomo Mitsui Insurance is reportedly investing US$350 million in US-based home insurance tech startup Hippo. According to a report by Nikkei Asia, the Japanese insurer looks to harness Hi… Read More

Dimitri Mikhaylov working the front register at Chelsea Bagel of Tudor City By Kris Maccini, Social Media Director, Triple-I In support of Small Business Saturday, November 28, the Insurance… Read More

So, who are the nation’s wealthiest people in the insurance industry? Here are the four who made the list. 1. Warren Buffett 2020 ranking: 4 Forbes 400 net worth: $73.5 billion Net wo… Read More

“A big part of the business model of insurance companies [historically] was the fact that there was information asymmetry between the insurance company and their customers. But that&r&helli…Read More

Drivers seem to have become more comfortable in the past year with the idea of giving up their data to help insurers more accurately price their coverage. In May 2019, mobility data and anal… Read More

The COVID-19 pandemic has disproportionately affected minority communities across the United States. A less reported but no less significant part of that story has been the disease’s i… Read More

In a potential tie-up that some Wall Street analysts, according to the WSJ, call “a good deal” for MetLife shareholders, Zurich Insurance Group has confirmed that it is in advanc… Read More

Meanwhile, its life & health reinsurance business maintained its successful track record despite the pandemic’s impact. According to the company, the segment achieved strong new b… Read More

[embedded content] That the insurance industry alone can’t be expected to cover future pandemic risk seemed to be a given at yesterday’s hearings by the House Finance Subcommit… Read More

AXA has unveiled an initiative to improve the health and well-being of its 121,000 employees worldwide. According to a statement by AXA, this move is part of its strategy to better align the… Read More

The National Rifle Association (NRA) has been ordered to pay $2.5 million for “violating” the New York insurance law by “soliciting dangerous and impermissible insurance pr… Read More

Although the pandemic may have presented an opportunity for independent insurance agents to better serve customers, a new report from J.D. Power found that agents are “facing headwinds… Read More

The global pandemic and costly natural catastrophes will contribute to a projected 101.7 combined ratio for the U.S.’s property/casualty (P/C) insurers in 2020, higher than the 98.8 th… Read More

A good example of hyper-personalization – and one that has garnered lots of attention throughout the coronavirus pandemic – is usage-based insurance (UBI), particularly in the a… Read More

The world’s 10 largest insurance markets are cumulatively expected to see their Gross Domestic Product (GDP) decrease by 4.5 percent in 2020 compared to 2019 because of COVID-19, accor… Read More

Gross written premiums for the third quarter were up 36.9% year-on-year to $101.2 million. For the first nine months of 2020, GWP was $337.7 million, up 29.8% year-on-year. According to IGI… Read More

[embedded content] Superstitious people consider Friday the 13th an unlucky day. The irrational fear of the number 13 even has a scientific name: triskaidekaphobia. While Friday falls on t… Read More

Entries for Insurance Business America’s annual showcase close tomorrow, Friday, November 13.  Readers still have time to submit their entries for Top Specialist Brokers… Read More

The Institutes, the leading provider of risk management and insurance education and research, today announced plans to finalize its affiliation with the Insurance Information Institute (Trip… Read More

At a recent webinar hosted by the American Tort Reform Association (ATRA), Cary Silverman, a partner at the law firm of Shook, Hardy & Bacon, presented a breakdown of COVID-19-related li… Read More

The recession caused by the COVID-19 pandemic is expected to cause global insurance premiums to contract by around 1.4% in 2020, according to a study by the Swiss Re Institute. In 2021, the… Read More

“Seemingly overnight, the pandemic shifted office-based teams to remote workforces, testing the resilience of our work tools, critical infrastructure and capabilities to interact with… Read More

The pandemic affected almost every link in the property/casualty value chain, but the industry weathered the stress well, according to Triple-I’s chief actuary, James Lynch. “The… Read More

Triple-I’s chief actuary, James Lynch, gave this talk on the changes that COVID-19 is bringing to the automobile insurance business, at the American Academy of Actuaries Annual Meeti… Read More

The credit rating agency’s report, entitled “2019 U.S. Property/Casualty Impairments Update,” found that there were 13 new impairments recorded last year – two more… Read More

Insurance Business America is calling for entries for its annual Top Specialist Brokers showcase.   Inclusion in this report is a valuable opportunity for indust… Read More

“Net written premium grew 3.7% to $10.7 billion in the quarter reflecting a 16% increase in renewal rate within Global Risk Solutions and a higher policy count in Global Retail Market… Read More

New York-based insurance consolidator platform Constellation Affiliated Partners has announced the acquisition of Trinity Transportations Services and Global Claims Service. Terms of the tra… Read More

By James Ballot, Senior Advisor, Strategic Communications, Triple-I It’s been more than eight months since COVID-19 first struck the U.S., and millions of small business owners are sti… Read More

AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, has announced that it has appointed three new underwriters to its US renewable energy team. Kristopher Will… Read More

I’ve been living and working at my father’s house since the onset of COVID-19, keeping him from having to venture out and risk infection. Late last week, his furnace died, and we… Read More

“I think the recovery of business travel is already underway, but it’s very early in the process, and it’s going to take a long time,” said John Thompson, division p… Read More

The Society of Insurance Research (SIR) held its annual conference virtually in October, and, as expected, the impact of COVID-19 on the industry was at the top of the agenda. SIR conducted… Read More

Hurricane Delta last month triggered a 17 million peso (US $800,000) insurance payout to the  Trust for the Integrated Management of the Coastal Zone, Social Development, and Security… Read More

Dutch insurer Aegon NV said Thursday that it has agreed to sell the “Pyramid”, an iconic San Francisco building complex, for $650 million in order to boost its solvency, accordin… Read More

Read more: Lloyd’s of London to conduct insurance products assessment The COVID-19 crisis has “inflicted catastrophic societal and economic damage while simultaneously calling f… Read More

By Max Dorfman, Research Writer, Insurance Information Institute [embedded content] Hurricane Zeta became the 11th named storm and 6th hurricane to hit the United States yesterday, as the… Read More

Earlier this year, I wrote about the role mangrove forests and coral reefs play in mitigating tropical storm damage and how insurance might help protect these critical resources. A recent Na… Read More

The quarter also saw six mega-rounds of $100 million or more, which accounted for over two-thirds of total funding. These were Bright Health, Ki, Next Insurance, Waterdrop, Hippo, and Polic… Read More

The leadership changes at specialist insurer Hiscox keep on coming. In the same month as a new CEO for Hiscox Re and ILS was revealed, the company has now announced the appointment of Yana O… Read More

American International Group, Inc. (AIG) has appointed Peter S. Zaffino as chief executive officer of AIG, effective March 01, 2021. He will take the reins from current CEO Brian Duperreault… Read More

By John Miklus, President, American Institute of Marine Underwriters (AIMU) While it’s not a panacea, a vaccine for COVID-19 is expected to go a long way toward reducing the number of… Read More

Last week’s Lightning Round III: Products and Services for Disaster and Risk Mitigation featured presentations by four teams of entrepreneurs who have developed products to boost socie… Read More

A new study by J.D. Power found that auto insurance customer satisfaction actually improved this year, despite the pandemic – and it is thanks to insurers using the lull caused by the… Read More

A North Carolina court has ruled that Cincinnati Insurance Co. must pay 16 restaurants’ claims for business income (interruption) losses due to government-ordered COVID-19 shutdowns… Read More

Ryan Specialty Group (RSG) has appointed Miles Wuller to serve as executive vice-president of RSG Underwriting Managers (RSGUM), RSG’s managing underwriting division. Wuller first join… Read More

By Loretta Worters, Vice President, Media Relations, Triple-I Advanced Persistent Threat groups and cybercriminals are likely to continue to exploit the COVID-19 pandemic over the coming wee… Read More

Liberty Specialty Markets is looking to boost its broker proposition with a couple of key technology developments. First on the list is a new website that aims to provide critical informatio… Read More

By James Ballot, Senior Advisor, Strategic Communications, Triple-I It’s an understatement to say that the COVID-19 pandemic has affected all areas of our personal and professional liv… Read More

With the coronavirus pandemic placing more emphasis on a digital-approach to business, Liberty Specialty Markets has wasted no time in establishing a new role – that of chief digital t… Read More

Policyholder dividends have more than tripled so far this year, due largely to approximately $14 billion auto insurers have returned to policyholders in response to reduced driving and fewer… Read More

Recent advisories from two U.S. Treasury agencies –  the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) &nda&hell…Read More

After rumors swirled late last week that Telefonica was negotiating over a potential investment to build a fiber optic network for under-supplied areas of Germany, it now appears that a majo… Read More

 A FORTIFIED roof (left) sustained no damage from Hurricane Sally, the neighboring house (right) did not fare as well.The FORTIFIED construction certification was developed by the Insur… Read More

Flood waters from Hurricane Delta surround structures destroyed by Hurricane Laura on October 10, 2020 in Creole, Louisiana. Hurricane Delta made landfall near Creole as a Category 2 storm i… Read More

Alera Group has announced the acquisition of Massachusetts-based Gordon Atlantic Insurance Agency. The acquisition was effective October 01. Gordon Atlantic provides personal and business in… Read More

Future of American Insurance and Reinsurance (FAIR) has released a new interactive tool to help showcase the need for a federal solution to pandemic relief. The Business Interruption In… Read More

Independent specialist legacy acquirer Compre has completed its first US transaction and has appointed Anson Aguiar (pictured) as chief underwriting officer of Pallas Reinsurance Company, Co… Read More

Specialist insurer CFC has announced the launch of a new insurance solution aimed at addressing the intellectual property (IP) infringement risks facing buyers undertaking a merger or acquis… Read More

Dan and Ben, ready for a safety-conscious Halloween last year. My five-year-old nephew, Ben, is a great source of pride to his electrician father, Dan. Last Halloween, Ben refused to trick… Read More

Please join us on October 22, 2020, at 10 a.m. central time as we showcase emerging and growth-stage technologies, products and services that mitigate the impact of severe weather on homeown… Read More

A French opera singer’s Australian wife is suing him and State Farm after she allegedly lived in a mobile home park on a temporary basis when their $12.95 million Malibu mansion burned… Read More

Dr. Steven N. Weisbart, CLU, Triple-I Senior Vice President and Chief Economist COVID-19 pandemic has not only disrupted our economy – it has complicated the data we routinely use to… Read More

By James Ballot,  Senior Advisor, Strategic Communications, Triple-I Is insurance the ultimate high return/low-risk career option? Many career experts and insurance professionals agree… Read More

“All four [of the major European reinsurers] suffered in the first half of 2020, but to varying degrees,” said Mazzuoli. “That can be explained first and foremost by the e… Read More

Providing that top-notch service has required some creativity and flexibility, especially when dealing with a catastrophic situation like Hurricane Laura, which made landfall as a Category… Read More

[embedded content] About half of all Americans are at risk of ground shaking from earthquakes. That’s why practicing what to do in the event of a quake is so important and why over 1… Read More

[embedded content] Hurricane Delta is surging closer to the U.S. Gulf Coast and is expected to land on the evening of October 9 somewhere on Louisiana’s southwest coast. Dr. Phil Klo… Read More

However, Willis Towers Watson also pointed out that deal volumes are at their lowest level for over a decade (since the third quarter of 2009), with just 121 deals completed in the last thr… Read More

“We had the very ambitious Future at Lloyd’s that launched last September. It was six strong initiatives we were going to roll out across the world, but then COVID-19 hit,&rdquo&helli…Read More

[embedded content] Residents from eastern Texas to the Florida Panhandle should prepare for Hurricane Delta, which is forecast to make landfall in Louisiana on Friday, October 9. The Natio… Read More

The Insurance Industry Charitable Foundation (IICF) invites insurance professionals to volunteer for their community nonprofit organizations during the annual Week of Giving (October 10-17… Read More

In a new report on the changing claims patterns brought about by the pandemic, Allianz Global Corporate & Specialty (AGCS) said that traditional property and liability claims have been… Read More

By John Novaria A wise insurance executive once told me, “People try to make insurance too complicated.” As a communications professional, that was music to my ears. Don’t… Read More

Commercial insurance loss estimates related to the COVID-19 pandemic vary widely, with Lloyd’s estimating global claims as high as $107 billion in 2020 and analysts from investment b… Read More

Read more: Chubb calls for US government and insurers to team up on pandemic costs Addressing Rep. Maloney in a recent panel discussion about the PRIA, Chubb Group general counsel and execu… Read More

Discrimination covers a wide range of potential incidents, which can involve race and gender, but also comes in many other forms. Acts of discrimination can focus on a tenant’s famili… Read More

CRC Group, one of the largest wholesale distributors of specialty insurance products in the United States, has continued its 2020 growth spurt with the acquisition of Specialty Risk Associat… Read More

During the last week in September, Universal Health Services Inc., one of the largest hospital chains in the United States, began taking some ambulances out of service because of disruptions… Read More

Specialty broker Ed has made a swoop for a new casualty treaty hire. Robert Sharp is its new head of casualty treaty, divisional director, based in London. He will report to divisional CEO H… Read More

As wildfires continue to burn in California, Oregon, Colorado, and elsewhere – and people pray for precipitation to help firefighters in th… Read More

On September 28, the American Action Forum (AAF) hosted an event convening experts to discuss the urgency of government-backed financial relief for businesses whose incomes have su… Read More

While credit-rating activity for the US property-casualty sector was mixed in the first half of 2020, upgrades modestly outnumbered downgrades, according to a new report from AM Best. Accord… Read More

The Women in Insurance event series has become an established part of the insurance industry calendar – and its mission to advance and empower women in the insurance industry is far to… Read More

Getty ImagesMany people are wondering if disability insurance will cover them if they come down with COVID-19. The answer, as is often the case, is a qualified yes. There are basically three… Read More

“The largest challenge is that the pandemic has restricted our ability to visit with existing clients and introduce ourselves to new ones,” said Brian Vassallo, senior vice pres… Read More

Between June and August, the CDC says, COVID-19 was most prevalent in people between the ages of 20 and 29. The Centers for Disease Control and Prevention this week provided new data on the… Read More

Dr. Steven N. Weisbart, CLU, Triple-I Senior Vice President and Chief Economist “The FOMC’s action will likely keep longer-term rates exceptionally low for several years more.&r&hell…Read More

We may be in the midst of a pandemic, but broking giant Willis Towers Watson has not eased up on the expansion of its aviation team. Over the course of the last 18 months, it has added 45 to… Read More

Read next: “Incumbents must innovate before innovators find distribution” That was when Selby linked up with Benji Markoff and Carl Niedbala, co-founders of Founder Shield, a da… Read More

The U.K. High Court last week issued a ruling involving business-interruption claims against policies issued by eight insurers. Jason Schupp of the Centers for Better Insurance says the ruli… Read More

King joins CAC from McGriff, where he had been a client advisor and thought leader in the energy and marine division for 20 years. Harris and King will work alongside Josh Kirklin, executiv… Read More

On September 24 a virtual discussion hosted by the Department of Homeland Security’s Science and Technology Advisory Committee will inform community leaders about how new science and t… Read More