The commercial insurance market in the United States has been experiencing a steady increase in rates, a trend that has persisted since the end of the COVID-19 pandemic. According to Willis Towers Watson's (WTW) Commercial Lines Insurance Pricing Survey (CLIPS), the overall average price increase
The Prudential Regulation Authority (PRA) has proposed new regulations requiring large British life insurers to report their liquidity positions daily during market crises. This move comes in response to the information gaps identified during financial turmoil triggered by the global COVID-19
New York City's Taxi and Limousine Commission (TLC) recently proposed significant changes to commercial auto insurance requirements in response to the financial instability of American Transit Insurance Co. (ATIC), which insures around 60% of the city's 120,000 for-hire vehicles. ATIC reported over
Inigo Ltd., a British specialist insurance group, is presently examining an array of strategic options aimed at enhancing its value. The company's shareholders, including JC Flowers & Co. and Qatar Investment Authority, are collaborating with Evercore Inc. to explore various potential paths
Arthur J. Gallagher & Co., a prominent insurance brokerage, risk management, and consulting services firm, has recently announced the acquisition of two brokerages: Dawson & Keenan Insurance Ltd. in Canada and Hann Insurance Brokers Pty Ltd. in Australia. These strategic moves are set to
Affluent households, particularly those with assets ranging from $500,000 to $5 million, face a unique set of risks and concerns. The 2024 Wealth Report by Chubb highlights three primary areas of concern: climate change, cyber risks, and the protection of high-value collectibles. These issues are
The Fortegra Group Inc., a specialty insurer based in Jacksonville, Florida, has made a significant leap forward in its global expansion strategy by receiving regulatory approval from the Prudential Regulation Authority to launch a new subsidiary in the United Kingdom. Scheduled to become effective
The recent E. coli outbreak linked to McDonald's Quarter Pounder hamburgers has come to a close, with the U.S. Centers for Disease Control and Prevention (CDC) announcing that the investigation is now finished. The outbreak, caused by the E. coli O157:H7 strain, led to a significant number of
The shocking news broke when Manhattan District Attorney Alvin Bragg, Jr. announced the indictment of Timothy Barry Derham, chairman and owner of Inter-Insurance Agency Services Ltd., and his nephew, Donald “Trip” A. Derham III, the company's chief technology officer, on serious charges of
A groundbreaking legislative package signed by Governor Kathy Hochul aims to expand health insurance coverage for pregnant individuals in New York, marking a significant shift in the landscape of maternal health care. This new legislation mandates that health insurance plans must now enroll
