Outlook on Reinsurance Has Changed; Pre-2023 Property Pricing Is Back: AM Best
AM Best’s outlook for the global reinsurance segment is no longer positive, the rating agency announced Monday, citing the uptick in property reinsurance price drops and concerns about casualty reinsurance loss trends. The outlook is now stable, AM Best said …
Risk Advisory Zurich Resilience Solutions Starts Data Center Practice
Zurich Resilience Solutions (ZRS), a risk advisory and engineering service and part of Zurich Insurance, announced the formation of a specialized Data Center Risk Advisory practice, which brings together more than 100 expert risk engineers with experience supporting complex data …
Kalshi Cannot Operate Sports-Prediction Market in Massachusetts, Judge Rules
A Massachusetts judge on Tuesday ruled prediction-markets operator Kalshi cannot let state residents bet on sports through its online platform, after the state’s attorney general accused it of running afoul of gaming regulators. Suffolk County Superior Court Judge Christopher Barry-Smith …
Snowstorm Sparks 100-Vehicle Pileup in Michigan
More than 100 vehicles smashed into each other or slid off an interstate in Michigan on Monday as snow fueled by the Great Lakes blanketed the state. The massive pileup prompted the Michigan State Police to close both directions of …
Severe Convective Storms Become Costliest Insured Peril of 21st Century: Aon
Severe convective storms (SCS) have surpassed tropical cyclones to become the costliest insured peril of the 21st century, according to Aon plc. Total economic losses reached $260 billion — 23% below the 21st-century average and the lowest since 2015, said …
Consumer Group Got $1.4M Intervening in California Rate Filings, CDI Says
California Department of Insurance data show one consumer advocacy group earned $1.4 million in fees last year from a program that pays people and advocates to intervene in rate hearings. Consumer Watchdog received $1,427,280.80 in fees from the state’s inventor …
Travelers Q4 Net Income Up 20% on Underwriting, Lower Catastrophe Losses
Fourth quarter 2025 net income at The Travelers Cos. increased about 20% compared with the same period a year ago, to about $2.5 billion. Underwriting, lower catastrophe losses, and more favorable prior year reserve development bolstered financial results for the …
Wells Fargo to Move Wealth Headquarters to West Palm Beach
Wells Fargo & Co. is moving the headquarters for its wealth-management business to West Palm Beach, becoming the first big bank to run that operation from the heart of the wealth boom in South Florida. The San Francisco-based firm signed …
New Regulations for Texas Hemp Industry Approved
New regulations for the consumable hemp industry were approved by the Texas Alcoholic Beverage Commission on Tuesday, concluding the agency’s involvement in a yearlong effort to more tightly regulate the products in the state. The rules change little for the …
Texas Faces Freeze While Weekend Snow Risks Rise in New York
A massive winter storm will sweep across a huge swath of the US starting Friday, freezing Texas before roaring up the East Coast, where New York City and Boston are seeing a strong chance of heavy snow by Sunday. Air …
Trucordia Continues Expansion With Acquisition of Florida Insurance Inc.
Trucordia, ranking in the top 20 largest U.S. insurance brokerages, has again expanded its reach, this time with the acquisition of Florida Insurance Inc. in Dunedin, near Tampa. Trucordia, based in Lindon, Utah, offers commercial and personal lines and employee …
Insurtech Lemonade Starts Autonomous Car Product With Tesla’s Data
Insurtech Lemonade said it has launched Lemonade Autonomous Car insurance, and will begin with a technical collaboration with Tesla that gives the insurer access to vehicle data. For starters, Lemonade said the new offering cuts per-mile rates for Tesla’s full …
Japan’s TEPCO Restarts Nuclear Reactor for First Time Since Fukushima Disaster in 2011
Tokyo Electric Power Co. (TEPCO) Wednesday restarted a reactor at the Kashiwazaki-Kariwa nuclear power plant after inspections were completed, its first such move since the Fukushima disaster in 2011. TEPCO put online the 1.36 gigawatt (GW) reactor No. 6, one …
Experts Can Testify About Suspected J&J Talc Products’ Cancer Link
In a victory for thousands of women suing Johnson & Johnson over claims that the company’s baby powder and other talc products caused their ovarian cancer, a court-appointed special master recommended on Tuesday that they be allowed to present testimony …
EU ‘Fully Prepared’ to Hit Back Over Trump’s Greenland Tariffs
The European Union is ready to strike back at Donald Trump over his tariff threats as he seeks to take Greenland, European Commission President Ursula von der Leyen said, toughening her rhetoric against the US president. “We are at a …
CEO Revenue Confidence Hits 5-Year Low: PwC Survey
Only three in 10 chief executives are confident in their companies’ revenue growth prospects over the next year, the lowest level in five years, according to a global survey by professional services group PwC released on Monday. The annual survey …
PE Firm TowerBrook Takes Stake in Insurance Claims Company MSA Mizar
Investment firm TowerBrook is acquiring a majority stake in MSA Mizar, an insurance claims management services provider, marking its first deal in Italy since it opened an office in Milan last year. MSA Mizar’s existing investor Columna Capital and the …
Viewpoint: Inside the Machinery of Medical Abuse in Liability Claims
Within the realms of general liability (GL) and workers’ compensation (WC) insurance lines, medical abuse is often considered in narrow terms — excessive treatment, unnecessary surgeries, inflated bills. While such behaviors are indeed problematic, a wider spectrum of medical abuse …
Battle Between Applied Systems and Comulate Escalates With New Antitrust Lawsuit
The battle between Applied Systems and Comulate has taken a new turn with a new federal antitrust lawsuit from Comulate. Late last year the competitors in the insurance technology market traded litigation. Applied Systems sued Comulate on allegations that Comulate …
Allianz Executive Pushes EU to Pressure US With Market Volatility
European policymakers should fuel market turbulence to pressure US President Donald Trump to back down from his Greenland claim, according to a senior executive at Allianz Global Investors. “If I were an adviser to some European governments, I would say …
Comunicados de prensa más recientes
Gran Caimán, Islas Caimán, 1o de octubre de 2020. El CCRIF SPC ha lanzado su nuevo producto de seguros paramétricos, que ha sido desarrollado para el sector de servicios públicos de electricidad en el Caribe. Según el Director Ejecutivo del CCRIF, Sr.
Gran Caimán, Islas Caimán, 24 de junio de 2020. El CCRIF SPC realizó un pago de US$203.136 al Gobierno de Belice por su póliza de seguro paramétrico de exceso de lluvia después de tres días de fuertes lluvias durante las tormentas tropicales Amanda y Cristóbal. Amanda fue un ciclón tropical que se originó en el Océano Pacífico y provocó lluvias que afectaron a Belice el 30 de mayo y luego se debilitaron.
Gran Caimán, Islas Caimán, 22 de junio de 2020. El CCRIF pagó al Gobierno de Guatemala aproximadamente US$3,6 millones bajo su póliza de seguro paramétrico de exceso de lluvia (XSR) por nueve días de lluvia que ocurrieron durante las tormentas tropicales Amanda y Cristóbal. La póliza se activó por las lluvias que comenzaron el 31 de mayo.
Gran Caimán, Islas Caimán, 16 de junio de 2020. El CCRIF SPC se complace en anunciar que los países miembros del Consejo de Ministros de Hacienda o Finanzas de Centroamérica, Panamá y República Dominicana (COSEFIN) recibirán beneficios especiales en las pólizas de seguro paramétrico del CCRIF SPC para el año de póliza 2020/21 como apoyo a la respuesta regional a la pandemia de COVID-19.
Gran Caimán, Islas Caimán, 2 de junio de 2020.