kWh Analytics, Aspen Raise Capacity for Property Insurance, Renewable Projects
kWh Analytics Inc. secured an increase in its capacity agreement with Aspen Insurance to support its property insurance offering for renewable energy projects. With this increase, kWh Analytics can underwrite up to $75 million per renewable energy project location and …
Assistant Principal Faces Criminal Charge in Case of 6-Year-Old Who Shot Teacher
A former assistant principal at a Virginia elementary school has been charged with felony child neglect more than a year after a 6-year-old boy brought a gun to class and shot his first-grade teacher. A special grand jury in Newport …
People Moves: SLA of California Elects New Leadership
The Surplus Line Association of California (SLA), headquartered in San Ramon, California, elected Rich Gobler of Burns and Wilcox as chair of the SLA Board of Directors. Also elected to leadership were John Washington of Arch Insurance Group as vice …
Ping An Insurance’s Delayed Trust Repayment Shows Lingering Property Woes
Ping An Insurance (Group) Co.’s trust business delayed repayment on a property-linked investment product, showing how the financial giant’s asset-management operations are still reeling from China’s prolonged real estate downturn. Ping An Trust apologized on Wednesday to its customers for …
Tech Updates: Sayata Risk Engine Flags High-Risk Accounts With AI; Canopy Connect and Hawksoft Launch Integration to Eliminate Data Entry for Agents
Sayata Unveils AI-Powered Risk Engine That Flags High-Risk Accounts Sayata has launched the Sayata Risk Engine, an AI-powered platform that uses sophisticated AI to flag specific high-risk accounts expected to drive up loss ratios. Sayata’s Risk Engine’s SmartExtrapolation technology uses …
NAIC Adopts Climate Resilience Strategy to Close Coverage Gaps, Improve Recovery
To assist property insurers in reducing losses and speeding up recovery from natural disasters, the National Association of Insurance Commissioners’ (NAIC) adopted the first-ever National Climate Resilience Strategy for Insurance. Developed under the coordination of the NAIC’s Climate and Resiliency …
US Senate Votes to Reject Rule to Cut Greenhouse Gas Emissions on Highways
The U.S. Senate on Wednesday passed a resolution that would overturn a federal agency’s rule requiring states to measure and set declining targets for greenhouse gas emissions from vehicles using the national highway system. The Federal Highway Administration rules were …
Europe’s Wildfires in 2023 Were Among Worst This Century: Report
The 2023 wildfire season in the Europe was among the worst this century, according to a European Commission report published on Wednesday. Last year, more than half a million (504,002) hectares, an area twice the size of Luxembourg, was scorched …
FTC Asks Congress for Authority Over Its Own Consumer Cases
The US Federal Trade Commission is asking Congress to change the law so it can handle its own privacy settlements and other consumer protection cases that it’s currently forced to refer to the Justice Department. The DOJ has been slow-walking …
Florida Public Adjuster, Renter Charged with Filing Claim on Rental Home
Florida authorities have charged a public adjuster and a rental property tenant with fraud after they allegedly falsified documents, filed a false claim and received a check from Scottsdale Insurance Co., a Nationwide surplus lines subsidiary. The Florida Department of …
Probe Underway of Fatal Crash Inolving Ford Mustang With Assisted Driver System
The U.S. National Transportation Safety Board (NTSB) said on Wednesday it was opening an investigation into a March 3 fatal crash between a Ford F.N Mustang Mach-E and two stationary cars on the I-95 interstate highway in Philadelphia. In March, …
US Investigators Interview Cargo Ship Personnel in Maryland Bridge Collapse
U.S. National Transportation Safety Board chair Jennifer Homendy said at a Senate hearing Wednesday that investigators had conducted interviews with key cargo ship personnel in the investigation of the March 26 Baltimore bridge collapse. The Dali cargo ship crashed into …
Alliant Insurance Services Acquires Vinsa Insurance Associates in California
Alliant Insurance Services acquired Vinsa Insurance Associates within its Alliant Public Entity division, expanding its footprint in California. Based in Lancaster, California, Vinsa is an independent property/casualty insurance agency that specializes in providing insurance coverage services for commercial and personal …
Oregon Schools Sued for $9M After Young Girl Allegedly Raped
A young girl and her guardian have sued an Oregon nonprofit organization, Portland Public Schools and Multnomah County for $9 million, alleging they were negligent when male classmates sexually abused her at school and raped her during an after-school program …
People Moves: IC International Appoints Kim VP; WCF Promotes Riedley to SVP and Curtis to CUO, Small Business; Island Insurance Promotes Onofrietti and Chong
IC International Appoints Kim Vice President IC International, headquartered in Honolulu, appointed Nova Kim as vice president. Kim oversees the execution of IC International strategy and provides oversight of daily operations. Kim has more than 30 years of experience in …
County Prosecutor Accused of Misusing Insurance Funds Resigns, Denies Wrongdoing
The top prosecutor in a northwestern New Jersey county has resigned amid a state probe into allegations that the office lied about caseloads to pad its budget with state money meant for fraud investigations. James Pfeiffer, who had been the …
Markets/Coverages: Antares’ Syndicate Launches Credit and Political Risks Consortium
Antares Global, the multinational group of insurance and related service companies, announced that Antares Syndicate 1274 has launched a consortium for the underwriting of credit and political risk insurance. The maximum line for the consortium initially will be $40 million. …
Texas DWC Accepting Comments on Routine Rule Changes
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) sent out a notice to workers’ compensation system participants that it will review all sections in the following chapters in Title 28, Texas Administrative Code: Chapter 120 (Compensation Procedure–Employers); Chapter …
Two Oklahoma Firefighters Injured Battling Wildfire That Prompted Evacuations
MOORELAND, Okla. (AP) — Two Oklahoma volunteer firefighters are recovering after suffering burns battling a weekend wildfire in northwest Oklahoma, officials said. Mooreland firefighters Jared Brittain and Max Clark suffered injuries on Saturday when their truck was overrun by flames, …
People Moves: AXIS Global Markets’ Head of Underwriting Robson to Retire, Succeeded by MacGregor; Newline Europe Names Beckers as Head of Cyber Liability
This edition of International People Moves details appointments at AXIS Global Markets and Newline Europe. A summary of these new hires follows here. AXIS Global Markets’ Head of Underwriting Robson to Retire, Succeeded by MacGregor AXIS Capital Holdings Ltd. announced …
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