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Tag: Featured


InsurTech

CFC launches Carbon Cancellation Insurance

June 13, 2024

Via: Reinsurance News

CFC, a specialist insurance provider in emerging risks and cyber insurance, has launched its second insurance product for buyers of voluntary carbon credits. The new Carbon Cancellation Insurance safeguards against financial and management risks if purchased carbon credits are cancelled […]


InsurTech

Commercial property insurance market proving to be more stable & capitalized, says USI

June 12, 2024

Via: Reinsurance News

Following on from last year’s challenging property insurance market, 2024 is proving to be a “more stable and capitalized market,” according to USI Insurance Services. In their latest Commercial Property & Casualty Market Outlook Mid-Year Addendum, USI notes that the […]


Brokers

Canadian Broker Axis Insurance Gets Investment From PE Firm, Lee Equity Partners

June 11, 2024

Via: Insurance Journal

Axis Insurance Managers Inc., the Vancouver-based independent specialty insurance brokerage, announced it has received a significant growth investment from Lee Equity Partners LLC, a middle market private equity firm that specializes in the financial services and healthcare industries. The partnership […]


InsurTech

NSM Insurance acquires Strategic Underwriters International

June 11, 2024

Via: Reinsurance News

NSM Insurance Group, a global specialty insurance provider, has completed the acquisition of Pennsylvania-domiciled, Strategic Underwriters International (SUI), a managing general agent (MGA) in the casualty facultative reinsurance marketplace. MergerSUI offers facultative casualty reinsurance for several lines of business, including […]


Risk Management, Trends

LMA revises marine insurance policy clauses

June 10, 2024

Via: Reinsurance News

The Lloyd’s Market Association (LMA), representing insurers and reinsurers in the London insurance market, has issued revised versions of the hull and cargo oil price cap clauses. lma-lloyds-logoThese updates simplify the language to accommodate recent modifications in the oil price […]


Cyber Risks, Risk Management

CFC launches upgraded cyber risk heat map focused on key exposures

June 6, 2024

Via: Reinsurance News

CFC, a specialist insurance provider, has updated its cyber risk heat map to offer more detailed insights into key exposures across various industry sectors such as construction, education, healthcare, transport, and logistics. Drawing from CFCs own claims data and external […]


News

CEA renews $3.73bn of reinsurance so far in 2024

June 5, 2024

Via: Reinsurance News

The California Earthquake Authority (CEA) has renewed $3.73 billion of reinsurance in 2024 so far, having secured almost $1.2 billion in new protection at the April 1st renewals. At the end of 2023, the earthquake insurer had $9.1 billion of […]


Brokers

Broker Verlingue Launches Dedicated Construction Practice in UK

June 4, 2024

Via: Insurance Journal

Chartered insurance broker Verlingue Ltd. has established a new dedicated construction practice to serve the UK’s fast-growing construction industry. The practice, led by Harvey Monk, sales director South, brings together a team of specialists from across Verlingue in one streamlined […]


InsurTech

Swiss Re extends partnership for connected life insurance underwriting

June 4, 2024

Via: Insurance Business

Global reinsurer Swiss Re has extended its partnership with business automation specialist Appian for the expansion of its Connected Underwriting Life Workbench solution in select countries in Asia-Pacific and Europe, the Middle East, and Africa (EMEA). Launched in North America […]


News

Broadstone unveils Insurance, Regulatory & Risk Advisory division

June 3, 2024

Via: Reinsurance News

Broadstone, the independent pensions, employee benefits, investment and insurance consultancy, has launched its standalone Insurance, Regulatory & Risk Advisory division. According to the announcement, this proposition will service the life and non-life insurance sector including Lloyds and the London market, […]


Risk Management, Trends

Weather Hazards & Insurance Claims Considerations Across the US

May 30, 2024

Via: JD Supra

Every day, somewhere in the United States, some sort of hazardous weather is occurring. The vastness of the nation—from the Arctic Ocean coastline to the tropical beaches of the Florida Keys, to the mountain peaks of the Western United States, […]


News

Relation Insurance Services announces First Insurance acquisition

May 29, 2024

Via: Insurance Business

Relation Insurance Services has acquired the assets of First Insurance, an affiliate of FirstBank, Inc. First Insurance, based in Durant, Oklahoma, provides a full range of insurance products including commercial, personal, farm and ranch, and manufacturing. Dina Wagner will continue […]


Regulatory / Legal

Insurers Must Physically Inspect to Confirm Damage Cited by Aerial Imagery

May 29, 2024

Via: Insurance Journal

The Pennsylvania Insurance Department (PID) is reminding insurers of their obligation to conduct a physical inspection to confirm the type and extent of damage to a roof supposedly evidenced by aerial imagery. The regulatory agency said it has received consumer […]


News

World Insurance Associates appoints new head of national practice groups

May 28, 2024

Via: Insurance Business

World Insurance Associates LLC (World) has announced that Thaddeus Woosley (pictured above) has joined as executive vice president and head of national practice groups. As part of World’s executive leadership team, Woosley will support the growth of the company’s niche […]


Regulatory / Legal

July election to catalyse positive regulatory change in UK insurance industry: J.P. Morgan

May 23, 2024

Via: Reinsurance News

Analysts at J.P. Morgan highlight a potential positive of the July general election in the UK, stating that it could accelerate positive regulatory change that could ultimately support the country’s insurance industry. Although neither manifesto commitment from the two parties […]


Cyber Risks, Risk Management

Howden rolls out cyber insurance platform for SMEs

May 22, 2024

Via: Insurance Business

Global insurance intermediary group Howden has introduced a new cyber insurance platform aimed at small and medium-sized enterprises, simplifying the process of obtaining coverage. Targeted at businesses with revenues up to $250 million, the platform allows users to purchase cyber […]


InsurTech

Howden acquires microinsurance specialist

May 21, 2024

Via: Insurance Business

International insurance intermediary group Howden has snapped up microinsurance specialist MiCRO, which provides parametric natural disaster insurance to underserved populations in Latin America. The move, according to Howden, underscores its commitment to leveraging insurance as a ‘force for good’, particularly […]


News

Smart Choice Signs a Record Number of Independent Insurance Agencies

May 20, 2024

Via: Insurance Journal

Smart Choice® has signed a record number of independent insurance agencies in the first quarter of 2024 with 444 agencies partnering with the fastest growing insurance network in the nation. This number eclipses all historical first quarter results. In addition, […]


InsurTech

Paragon Insurance & Ascot Group partner to deliver client solutions

May 20, 2024

Via: Reinsurance News

National multi-line managing general agent (MGA), Paragon Insurance Holdings LLC, has entered into a partnership with Ascot Group, which is set to leverage both of the organisations strengths and capacities. In its first program partnership, Ascot will support Paragon’s public […]


Risk Management, Trends

Auto Insurance Shopping ‘Hot,’ Consumers Switching ‘Sizzling’: LexisNexis

May 17, 2024

Via: Insurance Journal

Shoppers in the U.S. aren’t ready to accept higher auto insurance rates, choosing to shop around for the best deal and coverage, a new report finds. U.S. consumer auto insurance shopping activity registered as “Hot” on the LexisNexis Insurance Demand […]