Insurance broker Aon announced the promotions of Alfonso Valera as CEO of International for Reinsurance, responsible for UK, EMEA and APAC, and Steve Hofmann as CEO of Americas for Reinsurance, responsible for North America and Latin America. In addition, George …

Second quarter net income at Progressive Corp. increased 118% compared to the same period a year ago to about $3.2 billion. Progressive reports results monthly. Net income for June was up 40% to $1.1 billion. Year-to-date net income as of …

Venbrook Group has entered a strategic alliance with DB Insurance to bring a specialty coverage option for multi-unit residential properties in California. The product is tailored for condominium and townhome homeowners association policies. It is the first offering from the …

The Hartford said it is promoting Prateek Chhabra to chief risk officer, succeeding Robert Paiano who will retire from the company at the end of the year. Chhabra, who since 2018 has held the role of senior vice president and …

American International Group (AIG) said today that former Lloyd’s CEO John Neal is joining as president, effective December 1. Neal, who at the start of 2025 was named CEO of reinsurance at Aon, will lead AIG’s General Insurance—North America and …

The installation of cockpit cameras would greatly help aviation safety authorities investigating accidents like the recent fatal Air India crash, according to the head of the International Air Transport Association. “On a personal basis, I can see that there is …

Global insured losses during the first half of this year were at least $100 billion with more than 90% of that total – or approximately $92 billion – driven by wildfires and severe convective storms in the U.S., according to …

Residents in a Miami suburb used an ax, fire extinguisher and garden hose to rescue four people from a small plane that crashed into a tree in yet another mishap near a busy South Florida airport. “It was nothing short …

The catastrophic floods in central Texas on July 4th occurred in an area where fewer than 3% of homeowners have flood insurance through the National Flood Insurance Program, serving as another example of why Texas has one of the highest …

The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) announced this month it is introducing a new margin coverage option as a crop insurance endorsement for corn, cotton, grain sorghum, rice, soybeans and spring wheat in select states for …

The University of Michigan is under federal scrutiny after two Chinese scientists linked to the school were separately charged with smuggling biological materials into the United States. The Education Department on Tuesday opened an investigation into the university’s foreign funding, …

The U.S. Department of Agriculture said on Tuesday it would cut funding for a national network of centers that have supported thousands of small- and mid-sized farm and food businesses. The cuts are another hit to farmers from President Donald …

Leaders at one of the largest national insurance defense firms believe they have identified the causes of nuclear verdicts—and developed a comprehensive litigation strategy that negates them. A new book about that strategy and the data behind it will be …

The European Central Bank’s next stress test will ask lenders to come up with hypothetical situations in which risks like trade disruptions or wars could hit their financial strength. The exam next year will “assess which firm-specific geopolitical risk scenarios …

Helvetia Holding AG and Baloise Holding AG hired strategy consultant McKinsey for advice on Europe’s biggest insurance deal this year, according to people familiar with the matter. McKinsey is set to earn tens of millions of Swiss francs from the …

Strategic partnerships between re/insurers and alternative investment managers, the use of offshore platforms, and a fourth consecutive record year of annuity sales led to continued reinsurance growth in the U.S. in 2024. Fitch Ratings expects the prevalence of offshore reinsurance …

NAPLES, Fla. (AP) — When an emergency happens in Collier County, Florida, the 911 calls go to one of the most high-tech communications centers in the U.S., where callers can send text and video from the scene to dispatchers. Moving …

A Massachusetts assisted-living center where nine residents died in a fire was cited for failing to immediately report more than two dozen health and safety incidents, according to regulators’ most recent review of the facility. Five men and four women …

A new Pennsylvania law intended to crack down on AI-powered fraud and financial crimes makes it a felony to use artificial intelligence to produce non-consensual “forged digital likenesses” like deepfakes or voice clones to injure, financially exploit, or scam people. …

A former Alabama police officer charged with murder for shooting an armed Black man in the man’s front yard during a dispute with a tow-truck driver shouldn’t be granted immunity before going to trial, the state’s attorney general says. In …