Month: March 2021

March 17, 2021

San Francisco-based Coalition Inc., which provides cyber liability insurance and security, said Wednesday it has received an additional $175 million capital infusion with which it plans to invest in the company, add new product lines and further expand internationally. It […]

March 17, 2021

Funds that invest in “brown” or polluting companies would be hit far harder than environmentally friendly “green” funds in a climate-related market shock, the European Union’s securities watchdog said on Wednesday in its first study of its kind. The European […]

March 16, 2021

AM Best has released a report which explores the possible implications that US re/insurers may face after rejoining the Paris Agreement. Outside the US, in Europe and Asia, re/insurers have increased their integration of ESG factors into their investment and […]

March 16, 2021

Nine leading insurance industry businesses announced the creation of a program in the UK that will enable “career-break” professionals to return to work. The program will enable participating firms to tap into the “forgotten army” of experienced women who are […]

March 15, 2021

If you live in Florida, you should probably be paying more for flood insurance. And you likely will be soon. That first finding is the conclusion of a new analysis by First Street Foundation, a nonprofit research group focused on […]

March 15, 2021

Hollard is seeking applicants for this year’s Aspire Women Leaders Program, a year-long career development course tailored to female insurance brokers looking to become future business leaders. Hollard has run Aspire twice so far and of the 33 participants to […]

March 12, 2021

JAG Insurance Group (JAG), a South Florida-based commercial insurance agency with Florida offices in Coral Gables and Delray Beach, as well as Charlotte, N.C., has added Andy Fajardo as director of Marine Insurance. As a commercial lines coverage specialist (CLCS), […]

March 12, 2021

An insurer that paid defense costs for a policyholder involved in a liability dispute can recoup those costs if it is later determined that it did not owe a duty to defend the case, a divided Nevada Supreme Court ruled […]

March 11, 2021

Lara is now directing auto insurance companies to report by April 30 how they will return additional premium back to California policyholders that was reportedly over-collected in 2020. He is also directing commercial insurance companies to provide data about commercial […]

March 11, 2021

Property and casualty program carrier Transverse Insurance Group has announced two changes to its leadership team. The company has appointed John Fitzgerald as chief financial officer, while Robert Zerafa will assume the role of chief operating officer. Prior to joining […]

March 10, 2021

The Oklahoma Senate on Monday passed a bill that would require the state’s insurance administrator to develop and administer an assigned risk plan for workers compensation. S.B. 524, which passed in a 43-2 vote, would require the state’s insurance commissioner […]

March 10, 2021

The evolution of the cyber reinsurance sector has seen a significant shift in market structure to something much more palatable for providers of insurance-linked securities (ILS) capacity, according to Ari Chatterjee, Chief Underwriting Officer (CUO) at Envelop Risk. Prior to […]

March 9, 2021

In an effort to educate consumers about contractor fraud schemes that are contributing to increased insurance rates, Florida’s Insurance Consumer Advocate (ICA) Tasha Carter has launched a new educational initiative, Demolish Contractor Fraud: Steps to Avoid Falling Victim. The new […]

March 9, 2021

Texas surplus lines insurance premium recorded in Texas in February totaled $509.48 million, the Surplus Lines Stamping Office of Texas (SLTX) has reported. With the addition of February premium, the year-to-date total rose to $1.12 billion. This results in a […]

March 8, 2021

Hong Kong’s proposed insurance-linked securities (ILS) grant scheme, that will pay a share of issuance costs for catastrophe bond sponsors electing to use the domicile once its ILS regulatory regime is ready, is seen as an initiative to enhance the […]

March 8, 2021

After seeing their prices drop significantly in the wake of the US winter storms and severe freezing weather, a number of the exposed aggregate catastrophe bond tranches have now experienced a meaningful price recovery in the latest cat bond secondary […]

March 5, 2021

Specialist Risk Group (SRG), a London-based insurance broker, has agreed to acquire CLS Risk Solutions (CLS RS), subject to regulatory approval. Financial details of the acquisition — its fourth so far this year — were not disclosed. Established in 2010, […]

March 5, 2021

The complexities surrounding the development of an ultimate of insurance and reinsurance market losses from the recent US winter storm event are set to be significant, with broker Aon warning to expect a prolonged period of loss creep. winter-stormCurrently, estimates […]

March 4, 2021

A trade group representing insurance professionals has warned that a proposed US House bill could reclassify insurance agents, brokers, and even financial advisors as employees, instead of independent contractors. The National Association of Insurance and Financial Advisors (NAIFA) is requesting […]

March 4, 2021

This week has already been an eventful one for senior leadership moves and today Zurich Insurance Group (Zurich) has revealed that Sierra Signorelli has been appointed both CEO for commercial insurance and as a member of the executive committee with […]