Category: News

September 22, 2023

Malaysia’s RHB Bank Bhd. is asking financial advisers for proposals for its partnership to sell insurance in its branches, as its deal with an arm of Japan’s Tokio Marine Holdings Inc. is set to expire at the end of next […]

September 22, 2023

Chaucer, a global specialty (re)insurance group, has released a report into cartel insurance, revealing a rise in the demand for coverage across Latin America following a rise in the number of high-profile incidents in the region. The ‘organized crime cover’ […]

September 21, 2023

As interest rates steadily rise, life insurers have become acutely aware of the potential capital losses that may ensue from escalating policyholder lapse, Gallagher Re, a leading global reinsurance broker, unveiled in its first installment of research papers titled “Gray […]

September 18, 2023

Under-fire Israeli insurtech Vesttoo, which is at the heart of a letter of credit (LOC) fraud scandal, is now claiming hundreds of millions of dollars back from its two ousted co-founders, as well as persons that worked to source investors, […]

September 15, 2023

The Ardonagh Group is selling its personal insurance business in a deal that will give Chief Executive Officer David Ross an £800 million ($1 billion) war chest for further acquisitions in specialist insurance broking. Ardonagh is selling its Atlanta Group […]

September 14, 2023

Insurance Business has announced the 5-Star Insurance Networks and Alliances in the USA, those that harness a range of benefits such as greater access to products, ability to tap into non-traditional markets, vendor discounts, and marketing support. Insurance Business America […]

September 13, 2023

Two proposed class actions have been filed in federal court in Massachusetts against Mapfre U.S.A. Corp. and its affiliate Commerce Insurance Co. over a recent data breach that one of the lawsuits contends may have exposed customer data for more […]

September 6, 2023

Global insurance group, Howden has completed its acquisition of Apex Insurance New Zealand and its associated subsidiaries. Acquiring Apex will greatly accelerate Howden’s ongoing strategy to form a leading broking operation in the Pacific region, as it builds on the […]

September 1, 2023

Markel Bermuda Limited (MBL), part of insurer and reinsurer Markel Group, has been appointed to the statutory committee of unsecured creditors in the U.S. Chapter 11 bankruptcy of insurtech Vesttoo, the company has announced. MBL is a class 4 Bermuda […]

August 28, 2023

Viasat Inc. has more than $1 billion of orbiting satellites in trouble, and space insurers are girding for market-rattling claims. The company’s roughly $1 billion ViaSat-3 Americas satellite, central to expanding its fixed-broadband coverage and fending off rivals including Elon […]

August 28, 2023

Florida is facing a significant hurricane threat this week, as tropical storm Idalia is forecast to become hurricane Idalia later today, before then heading over extremely warm Gulf waters towards Florida’s coast where the NHC forecast it could be near […]

August 23, 2023

Munich Re holds onto the top spot in AM Best’s annual ranking of the top 50 global reinsurance groups in 2022, with Swiss Re coming in as the second-largest reinsurer — for the third year in a row. These two […]

August 22, 2023

Some GEICO employees are claiming that their personal information has been compromised as a result of a data breach involving file transfer software MOVEIt. In a letter obtained by 7 News reporter Kristen Mirand, GEICO notified employees of a “security […]

August 18, 2023

Tim Temple, a Baton Rouge Republican who spent 20 years in the insurance industry, will be Louisiana’s next insurance commissioner after the only other candidate dropped out of the race Wednesday. The statewide position was been thrust into the spotlight […]

August 17, 2023

World Insurance Associates LLC announced that R&S Insurance Agency, Inc. (“R&S”) of Stoughton, Wisconsin has joined World as of August 1, 2023. Terms of the transaction were not disclosed. R&S has been providing insurance products and services to individuals, families […]

August 17, 2023

An alleged “family and friend” organized auto insurance fraud ring in California was seemingly broken up by the Urban Automobile Insurance Fraud Task Force when seven people were arrested on Wednesday in connection to the case. In total, 23 individuals […]

August 14, 2023

xC Williams Insurance Agency recently joined Valley Insurance Agency Alliance (VIAA), a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois. Founded in 2023, C Williams Insurance Agency was created by owner Chad Williams. The full-service […]

August 9, 2023

Car insurance is designed to protect you financially if you get involved in an accident or your vehicle gets stolen. While this may seem straightforward at first glance, there are several layers to this type of policy that you need […]

August 7, 2023

As insurtech Vesttoo continues its investigation into the alleged fraudulent letters of credit (LOCs) used as collateral in its transactions, the firm has reiterated its commitment to “working with alternative investors and brokers to ascertain alternative collateral” for its clients. […]

August 1, 2023

As the audit and investigation into the discovery of fraudulent or forged letters of credit (LOCs) linked to collateralized reinsurance transactions facilitated by Vesttoo moves towards its third week, we now understand the FBI has begun its own investigation into […]