Month: August 2021

August 17, 2021

The UK-headquartered bank is using the deal to boost its wealth management business in Asia, as the region remains key to its future plans. It is the largest HSBC acquisition since the $762 million merger of the bank’s Oman branch […]

August 16, 2021

Tropical storm Fred is now set for a landfall late on Monday in the Florida Panhandle or Big Bend area, moving slowly towards the coast with winds currently at 50 mph and a little more strengthening still forecast before landfall. […]

August 16, 2021

Marsh is supporting Amazon Insurance Accelerator, the digital insurance network set up by the e-commerce giant to help its third-party sellers acquire product liability protection. The broker says it has curated a panel of insurers made up of Chubb, Harborway […]

August 16, 2021

Insurance broker Gallagher has acquired a majority stake in Brokers’ House, a specialty broker based in Istanbul. This acquisition will be Gallagher’s first direct presence in Turkey and will give the company a footprint in a growing strategic insurance hub […]

August 13, 2021

National insurance and wealth management firm Alera Group has announced the acquisition of Risk Consulting Partners (RCP), a company that specializes in working with private equity firms to assess risk exposures across all companies in their portfolios. The acquisition expands […]

August 12, 2021

Sompo International Holdings has announced that Sompo Global Risk Solutions (GRS) will offer protection for epidemic and pandemic risk. Sompo InternationalThe new Sompo GRS Epidemic and Pandemic Protection Program provides insurance based on a number of available pre-set coverage options […]

August 11, 2021

The Dixie wildfire that is burning in California has now burned almost half a million acres and continues to put significant property value at-risk, with now 1,027 structures reported as having been destroyed by the fire. The Dixie Fire ignited […]

August 11, 2021

US property insurance rates continued to rise across both commercial and personal lines in the second-quarter of 2021, with MarketScout warning that catastrophe exposed property may see stronger rate increases later in the year, depending on the catastrophe loss burden […]

August 10, 2021

Aston Lark Group, the London-based insurance broker backed by Goldman Sachs, announced it has acquired Essex Insurance Brokers Ltd. Established in 1964 and based in Hornchurch, England, Essex Insurance Brokers serves both personal and business clients in the UK, with […]

August 10, 2021

Amazon.com Inc. on Tuesday said it would pay customers who suffer injuries or property damage from defective goods others sell on its U.S. platform, in a new policy that could reduce litigation. For years, consumers have sued the world’s largest […]

August 9, 2021

A new study by global conservation organisation The Nature Conservancy and re/insurance broker Willis Towers Watson has found a 41% decrease in residential insurance premiums when ecological forestry is applied to relevant areas. By modelling the impact on insurance of […]

August 9, 2021

Climate change is running away from us, is the stark warning from the Intergovernmental Panel on Climate Change ‘s (IPCC) Report, which was published today. “Many of the changes observed in the climate are unprecedented in thousands, if not hundreds […]

August 6, 2021

The New Hampshire Insurance Department (NHID) approved a rate proposal filed by the National Council on Compensation Insurance (NCCI) that will reduce voluntary loss costs by 8% on average. “Over the past several years, the state has worked hard, in […]

August 6, 2021

Delaware Insurance Commissioner Trinidad Navarro has released a consumer alert for users of respiratory devices manufactured by Philips. An estimated four million Philips Continuous Positive Airway Pressure (CPAP) and Bi-Level Positive Airway Pressure (BiPAP or BiLevel PAP) devices, as well […]

August 5, 2021

The US National Oceanic and Atmospheric Administration (NOAA) has updated its forecast for the 2021 Atlantic hurricane season, saying that it now anticipates an even more active year in the Atlantic tropics, with now a 65% chance of above-normal activity […]

August 5, 2021

The return of catastrophe bond and insurance-linked securities (ILS) funds appear widely dispersed after the first-half of the year, as ILS Advisers reported a range of -5.1% to as high as +8%. This once again demonstrates the wide range of […]

August 4, 2021

Sigo Seguros, an auto insurance provider serving the Spanish-speaking community, launched its own auto insurance product in Texas that it says is transparent, affordable and natively available in Spanish and English. By removing biased rate factors like credit score, employment […]

August 4, 2021

Florida headquartered insurer Universal is said to be hyper-focused on driving more primary rate into its portfolio, according to Chief Executive Officer Steve Donaghy. Speaking at a recent earnings call, Donaghy described how the two pillars of price and exposure […]

August 3, 2021

Hippo Enterprises Inc. wants to change homeowners’ insurance by using customer data to make it faster and easier to get coverage, Hippo’s chief executive said in an interview. The company, which has a $5 billion valuation and is due to […]

August 3, 2021

Professional Insurance Agents of Wisconsin (PIAW) has announced its support for the Federal Insurance Office Abolishment Act, new legislation introduced in the House of Representatives by Rep. Ben Cline (R-Va.), with Rep. Tommy Tiffany (R-Wis.) signing on as an original […]