Viewpoint: Regulatory Proposals in Australia, Malaysia Reshape Reinsurance Strategies
The regulatory landscape in the Asia-Pacific region is rapidly evolving, influencing insurers’ risk management and capital adequacy. Australia and Malaysia are two examples of markets where recent regulatory developments are likely to influence the use of reinsurance, in particular. Regulators …
Countries Shore Up Digital Defenses as Global Tensions Raise Cyberwarfare Threat
Hackers linked to Russia’s government launched a cyberattack last spring against municipal water plants in rural Texas. At one plant in Muleshoe, population 5,000, water began to overflow. Officials had to unplug the system and run the plant manually. The …
Buyer’s Remorse Hits Finance Bosses Who ‘Overhired’ for ESG
There’s a course-correction underway among financial firms that went all out on ESG hiring just a few years back, according to recruiters advising banks and money managers. Firms have had to acknowledge that the goal of generating the highest profits …
AM Best Revises Credit Rating Outlook to Negative for NJM Insurance Group
Ratings agency AM Best has revised the outlook to negative from stable for the members of the NJM Insurance Group (NJM) for the Long-Term Issuer Credit Ratings and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term …
California Workers’ Comp Bureau Submits Higher 2025 Pure Premium Rate Filing
The Workers’ Compensation Insurance Rating Bureau of California submitted a September 1, 2025 pure premium rate filing, proposing advisory pure premium rates on average 11.2% above the average approved September 1, 2024 advisory pure premium rates. The average of the …
Allstate Q1 Income Drops 52% on Record $3.3B Gross Catastrophe Losses
Allstate Corp. first quarter 2025 net income applicable to common shareholders fell more than 52% to $566 million primarily due to a record $3.3 billion of gross catastrophe losses. The gross loss was partially offset by $1.1 billion of reinsurance …
LA County Approves $4B Payout to Settle Sexual Abuse Claims at Juvenile Facilities
Los Angeles County officials this week approved a $4 billion payout to settle nearly 7,000 claims of sexual abuse in juvenile facilities since 1959. The agreement reached on April 4 far surpasses a $2.6 billion settlement reached in 2022 with …
Bill to Address California Wildfire And Insurance Crises Moving Through Legislature
A California Assembly committee advanced a bill designed to deal with the state’s wildfire and insurance crises. The California Safe Homes Act, Assembly Bill 888, passed out of the Assembly Insurance Committee on a unanimous vote. Related: Forecast Calls for …
Strengthen Oklahoma Homes Program to Hold Second Pilot Launch
The Oklahoma Insurance Department is preparing for a second pilot launch of the Strengthen Oklahoma Homes Program, which provides up to $10,000 to residents to upgrade their homes to the IBHS Fortified standard. Applicants who are eligible and live in …
AM Best Revises Outlook to Negative for Missouri Valley Mutual Insurance Company
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Missouri Valley Mutual Insurance Company (MVMIC) based in Burke, South Dakota. …
Ransomware Hack Said to Be Cause of Marks & Spencer Outages
A ransomware attack is the cause of a disruption at Marks & Spencer Group Plc., with hackers using a potent kind of malware to lock down some of the British retailer’s systems and render them inaccessible, according to people familiar …
Apollo’s Aspen Insurance Targets $2.9B Valuation in US Stock Market Return
Aspen Insurance said on Tuesday it was seeking a valuation of up to $2.85 billion in its New York flotation, as the Bermudian specialty insurer looks to go public again in the United States after more than six years. Stock …
People Moves: CEO of Carbon Retires for Health Reasons, Succeeded by Ferrier; Chaucer Taps SCOR’s Brown, Everest’s Cleair as Underwriters for International Property
This edition of International People Moves details appointments at the managing general underwriter Carbon Underwriting and specialty re/insurer Chaucer. A summary of these new hires follows here. CEO of Carbon Retires for Health Reasons, Succeeded by Co-Founder Ferrier Carbon Underwriting …
Clearwater Boat Crash Kills One Person, Injures 10 at End of Festival
The driver of a boat that appeared to leave the scene after a fatal crash in Clearwater, Florida, was not intoxicated but could still face multiple charges in the tragedy, according to local news media and the Associated Press. Authorities …
New Jersey Wildfire 75% Contained; Crews to Remain on Scene Until ‘Significant’ Rain
The New Jersey Forest Fire Service reported continued progress in fighting the Jones River wildfire, with the fire being 75% contained by noon on Monday, April 28. Officials said crews will remain on the scene for the next several days …
FBI Raided the Wrong House. Now the US Supreme Court Will Hear Their Lawsuit
Before dawn on Oct. 18, 2017, FBI agents broke down the front door of Trina Martin’s Atlanta home, stormed into her bedroom and pointed guns at her and her then-boyfriend as her 7-year-old son screamed for his mom from another …
Historic Memphis Church a Total Loss After Late-Night Fire
A Memphis church known as a rallying spot in the Civil Rights Movement suffered major damage in a fire that broke out early Monday morning. The 130-year-old Clayborn Temple, in downtown Memphis, is considered a total loss, with only the …
Warner Bros Fends Off Superman Copyright Lawsuit Ahead of New Movie
Warner Bros. Discovery convinced a U.S. judge to dismiss a lawsuit over rights to the iconic character Superman, lifting a legal headache before the company releases its new “Superman” movie this summer. U.S. District Judge Jesse Furman in New York …
Progressive Insurance Is Hiring Again; 12,000 More People Needed
Almost a year to the day after Progressive announced it would hire more than 10,000 people to fill claims, IT and legal roles in 2024, the nation’s second largest auto insurer said it now has 12,000 job openings. As was …
Cincinnati Financial Finishes Q1 in the Red Due to Catastrophes
Cincinnati Financial Corp. recorded a first quarter 2025 net income loss of $90 million compared to a gain of $755 million during the same period the prior year. The company’s consolidated insurance operations turned in a first quarter combined ratio …
Comunicados de prensa más recientes
Gran Caimán, Islas Caimán, 3 de julio de 2024. El CCRIF SPC realizó un pago el 1o de julio de 2024 d
Gran Caimán, Islas Caimán, 14 de junio de 2024. El 5 de junio de
Gran Caimán, Islas Caimán, 20 de octubre de 2023. El CCRIF SPC realizó dos pagos por un total de US$3,4 millones a los Gobiernos de Antigua y Barbuda y las Islas Vírgenes Británicas tras la tormenta tropical Philippe. Philippe tocó tierra en Antigua y Barbuda el 2 de octubre y pasó cerca de las Islas Vírgenes Británicas el 4 de octubre, provocando fuertes lluvias e inundaciones en ambos países. El CCRIF realizó pagos en las pólizas de seguro paramétrico para exceso de lluvia, como sigue:
19 de septiembre de 2023. Gran Caimán, Islas Caimán.
14 de septiembre de 2023. Gran Caimán, Islas Caimán. El CCRIF SPC se enorgullece en dar la bienvenida a Honduras como su cuarto miembro de Centroamérica. El Gobierno ha adquirido cobertura de seguro paramétrico para exceso de lluvia, efectiva a partir del 1 de junio de 2023. El director ejecutivo del CCRIF, el Sr.