Tag: Featured

May 30, 2023

JP Morgan analysts assert that substantial progress has been witnessed in the underlying earnings potential of reinsurers during 2023, indicating a notable improvement. Substantial evidence supports their belief in the considerable improvement within the industry’s underlying profitability. “…we believe that […]

May 25, 2023

On the eve of another drought-ridden growing season, farmers from the High Plains are asking state and national lawmakers to provide a stronger financial safety net. In Austin and Washington, D.C., farmers from the 41-county High Plains region, which includes […]

May 24, 2023

Whether it’s underwriting, claims or customer service, it seems that artificial intelligence is top of mind for the insurance industry right now. William Bennett, partner at law firm Saxe, Doernberger & Vita, said on this episode of The Insuring Cyber […]

May 23, 2023

Swiss Re, the world’s number two reinsurer, has joined fellow reinsurance giants Munich Re and Hannover Re in cutting ties with the United Nations-convened Net-Zero Insurance Alliance (NZIA). In an emailed statement to Reuters, Swiss Re confirmed its decision to […]

May 22, 2023

Insurers and reinsurers who are members of the Net-Zero Insurance Alliance (NZIA), received a letter from 23 attorneys general raising potential legal concerns that might arise from their commitment to collaborate with other insurers to advance an “activist climate agenda.” […]

May 22, 2023

Total global insurance premium income amounted to nearly €5.6 trillion (about $6.05 trillion) last year, according to a new report by Allianz Trade. Life remained the largest insurance segment at €2.6 trillion, followed by property-casualty (€1.8 trillion) and health (€1.1 […]

May 18, 2023

Fraudulent filings for state unemployment insurance aid in Massachusetts could be distorting U.S. weekly unemployment claims data, economists warned on Wednesday, making it harder to get a clear picture of the labor market in the short-term. A surge in applications […]

May 17, 2023

An attorney with one of Florida’s largest insurance defense firms must pay more than $100,000 in sanctions after deliberately trying to sabotage a medical malpractice suit in order to win a mistrial, a Florida appeals court has decided. The 6th […]

May 17, 2023

Wefox Holding AG, an insurance-technology firm based in Berlin, raised $110 million to build a platform that will make its technology available to other insurers. JPMorgan Chase & Co. and Barclays Plc provided half the funds as a revolving credit […]

May 16, 2023

Specialist insurer Beazley has announced the launch of its streamlined Miscellaneous Medical Liability insurance product called “MiscMed” for the US and London markets. Beazley’s MiscMed product provides protection for medical professional liability exposures arising out of a wide range of […]

May 15, 2023

Berne Union, the global association for the export credit and investment insurance industry, has reported that its market showed “strong growth” across business lines in 2022 and a fall in claims paid overall. Looking at the data, analysts concluded that […]

May 11, 2023

Insurtech funding increased nearly 38% from Q4 2022 to Q1 2023, from about $1 billion to about $1.4 billion, according to a new analysis released by Gallagher Re. The U.S. leads France and the UK as the nation funding the […]

May 10, 2023

With the Florida legislative changes passed in December – prohibiting assignments of benefits and one-way attorney fees – there is now an opportunity to change the dynamic in Florida and create a more stable market. Historically, the main tools to […]

May 9, 2023

Manhattan District Attorney Alvin Bragg, Jr. announced two indictments of a certified public accountant for defrauding the New York State Insurance Fund (NYSIF) of more than $10 million in workers’ compensation insurance premium payments. Accountant Steve Lyon Lyon was charged […]

May 9, 2023

A new survey of property and casualty (P&C) brokers and agents has found that 97% of respondents feel that recent hard market conditions are impacting their books of business, while 95% say their clients risk being underinsured due to high […]

May 9, 2023

Eclipse Re Ltd., a private syndicated collateralised reinsurance note, private catastrophe bond issuance and reinsurance transformer platform owned and operated by Artex Capital Solutions, has completed the issuance of two private cat bond arrangements totalling almost $18.8 million of risk […]

May 9, 2023

As discussed in a previous post, cyber insurance demand and premiums have significantly increased in recent years. Fitch Ratings forecasts that cyber-related premiums could balloon to $22.5 billion by 2025. Those increases presumably reflect considerable claims activity, including in connection […]

May 4, 2023

By the end of March 2023, National Flood Insurance Program (NFIP) claims paid after Hurricane Ian had surpassed $3.4 billion, with more than 46,000 NFIP flood insurance claims received. As we wrote previously, by mid-January 2023, the NFIP had paid […]

May 4, 2023

The California State Assembly unanimously voted for a bill that will help accelerate the transition to clean-air technology by making sure clean fleets have access to available and affordable commercial insurance. Assembly Bill 844, the Clean Fleet Insurance Accelerator legislation […]

May 3, 2023

Louisiana Insurance Commissioner Jim Donelon has fined Texas law firm McLenny Moseley & Associates (MMA) and associated partners $2 million for hurricane-related insurance fraud involving at least 850 Louisiana homeowners and policyholders. “The illegal insurance scheme perpetrated by McClenny Moseley […]