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Tag: risk management


Geo-Political, Risk Management

Oklahoma, Farmers Insurance Reach $25M Settlement Over Earthquake Claims

April 6, 2021

Via: Claims Journal

Oklahoma has reached a $25 million settlement with Farmers Insurance over the company’s handling of earthquake claims, state officials say. Oklahoma Attorney General Mike Hunter and Insurance Commissioner Glen Mulready say an investigation revealed that Farmers denied or failed to […]


News

Aggregate value of insurance sector M&A deals up sharply in Q1

April 5, 2021

Via: Business Insurance

First-quarter mergers and acquisitions involving U.S. and Bermuda-based insurance industry companies produced an aggregate deal value of $21.16 billion, according to a report Monday from S&P Global Market Intelligence. This year’s first-quarter tally tops full-year deal totals for 2019 and […]


News

Varney Insurance Agency launches Varney Re

April 5, 2021

Via: Insurance Business

Varney Insurance Agency has announced the formation of Varney Re, a Bermuda-based reinsurance company. Varney Re is a specialist alternative risk transfer reinsurance company that will serve a North American client base. Tod Austin (pictured above) has been appointed chief […]


Regulatory / Legal

Federal pandemic insurance backstop unlikely: Congressman

March 24, 2021

Via: Business Insurance

Rep. Emanuel Cleaver, D-Missouri, chair of the House Financial Services Subcommittee on Housing, Community Development and Insurance on Wednesday played down the likelihood of a government backstop for pandemic risk. “It’s going to be very difficult for me to get […]


Cyber Risks, Financial, Risk Management

Cyber insurance provider Coalition raises additional $175M

March 17, 2021

Via: Business Insurance

San Francisco-based Coalition Inc., which provides cyber liability insurance and security, said Wednesday it has received an additional $175 million capital infusion with which it plans to invest in the company, add new product lines and further expand internationally. It […]


Geo-Political, Risk Management

US winter storm loss creep likely to be prolonged: Aon

March 5, 2021

Via: Artemis BM

The complexities surrounding the development of an ultimate of insurance and reinsurance market losses from the recent US winter storm event are set to be significant, with broker Aon warning to expect a prolonged period of loss creep. winter-stormCurrently, estimates […]


Regulatory / Legal

Proposed legislation could drastically affect insurance employment

March 4, 2021

Via: Insurance Business

A trade group representing insurance professionals has warned that a proposed US House bill could reclassify insurance agents, brokers, and even financial advisors as employees, instead of independent contractors. The National Association of Insurance and Financial Advisors (NAIFA) is requesting […]


Risk Management, Trends

Reinsurers disappointed with January renewals: S&P

March 3, 2021

Via: Reinsurance News

Analysts at rating agency S&P global ratings have noted that reinsurers feel they haven’t fully benefitted from their results, despite the global reinsurance pricing gains from the January renewals. S&P Global RatingsAlthough this year’s renewal season started with high hopes, […]


Risk Management, Trends

Insurance M&A deals keep rolling in

March 2, 2021

Via: Business Insurance

Mergers and acquisitions activity in the insurance sector was strong in 2020 despite COVID-19 and is expected to remain robust in 2021 as rising commercial insurance rates bolster earnings, making insurers attractive targets, and “deployable capital” remains abundant, analysts and […]


Risk Management, Trends

M&A in insurance distribution continues to soar to record heights

February 24, 2021

Via: Insurance Business

RESILIENT. It’s a term often used to describe the insurance distribution market, and one that continues to attract the hungry eyes of the investment community. Despite the COVID-19 pandemic and resulting socio-economic challenges – a global recession and strained labor […]