For the second year in a row, the U.S. property/casualty industry booked an underwriting loss of more than $20 billion primarily due to the lackluster performance of personal auto and home insurance lines. The total U.S. P/C underwriting…
Hub International, a global insurance brokerage, has acquired Georgia-based Skinner & Co., a brokerage offering commercial coverage, performance bonds and risk management services. Terms of the deal were not disclosed. Todd Skinner and…
Monroe Insurance Center, Inc., an independent insurance and risk management agency in Monroe, Connecticut, has merged its operations with Smith Brothers Insurance. The leadership team at Monroe Insurance Center including John Rodrigues,…
Wesley G. Marshall has been elected to a three-year term as chairman of the Virginia Workers’ Compensation Commission (VWC), effective July 1, 2024. He succeeds Commissioner Robert A. Rapaport, whose term ended June 30, 2024. Marshall, of…
Tractors plow the farm fields without drivers, guided by satellites and iPhones. Solar-powered robots tend to plants on the ground like giant outdoor Roombas, while drones fly overhead spraying the crops. It may sound like science fiction…
IMA Financial Group, an independent insurance brokerage and risk management consulting firm, announced that Jordyn Arons Rosen will be its new Dallas Market President, effective July 1, 2024. Arons Rosen will succeed insurance industry…
Coverys Ltd., a UK entity in the Coverys Group of Companies, has received regulatory authority to launch a London company market insurer, effective June 26. Coverys Ltd. is part of Coverys’ dedicated London platforms which include both…
A day after Ryan Specialty Holdings announced a handful of executive moves following the retirement of founder Patrick G. Ryan, the company continued to promote from within by naming Edward F. McCormack chief executive officer of RT…
The U.S. Supreme Court declined on Tuesday to hear a challenge by an Ohio company to the power of the federal workplace safety regulator as the justices avoided another legal effort to pare back the authority of federal agencies. The …
Delaware is poised to adopt changes to its widely used corporate law that critics argue could weaken U.S. boards of directors in favor of influential investors such as private-equity firms. State lawmakers last week approved a bill that…
Japan’s four top property and casualty insurers, along with other financial firms, are planning to sell around ¥500 billion ($3.1 billion) worth of shares in Honda Motor Co., Reuters reported. Tokio Marine Holdings Inc., Sompo Holdings Inc…
China’s new financial stability law draft bill improved provisions on financial risks prevention and control, according to draft revisions released on Monday. Revisions to the draft bill underwent the second round of review by China’s top…
Executive Summary: For a multinational insurance company like Zurich Insurance Group, which can find itself delivering large, complex policies in multiple languages to a single international customer, there’s a logical use case for Gen…
The US Justice Department will charge Boeing Co. with criminal fraud, leaving the planemaker to choose between pleading guilty or taking the risk of going to trial, according to people familiar with the matter. Boeing has until the end of …
The Supreme Court’s move to curb federal agency powers could curtail efforts by the U.S. Securities and Exchange Commission to establish new rules to police Wall Street and invite more litigation, legal experts said in the wake of Friday’s…
Domestic workers in Rhode Island will now be paid the state’s minimum wage under a bill signed into law by Democratic Gov. Daniel McKee. Traditionally, domestic workers haven’t been given that protection as the Rhode Island minimum wage…
CHARLESTON, W.Va. (AP) — The head of the national mine workers’ union on Friday condemned what he characterized as an effort by House Republicans to block enforcement of a long-awaited federal rule directed at curbing workers’ exposure to…
The Florida Insurance Guaranty Association now has an auto insurance representative on its board. Florida Chief Financial Officer Jimmy Patronis announced last week that he has appointed D. Ryan West, the senior director of physical damage…
The White House is seeking roughly $4 billion in additional emergency funding from Congress for costs related to the collapse and repair of the Francis Scott Key bridge in Baltimore and to respond to other disasters that have occurred…
Insurance brokerage Relation Insurance Services reports it has acquired the assets of York Insurance Services, Inc. in Forest Hill, Maryland. The transaction went into effect on May 31, 2024. Terms of the transaction were not disclosed.…
Pearl Interactive Network, Inc., a Columbus, Ohio-based telecommunications company, resolved a charge of disability discrimination filed with the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency’s Cleveland Field…
AM Best confirms that the financial strength rating and long-term issuer credit ratings of Accredited’s subsidiary companies remain unchanged following their acquisition by Onex Partners from R&Q Insurance Holdings Ltd. — a deal that was…
This edition of International People Moves details appointments at HDI Global and AXA XL. A summary of these new hires follows here. HDI Global Canada Promotes Navarrete to Managing Director HDI Global Canada announced the appointment of…
Arthur J. Gallagher & Co. announced the acquisition of Katy, Texas-based Zayla Partners, LLC (Zayla). Terms of the transaction were not disclosed. Zayla is an executive compensation strategy firm that serves clients across a variety of…
The Fidelis Partnership and Fidelis Insurance Holdings Ltd. jointly announced that Syndicate 3123 has formally begun underwriting business at Lloyd’s. Syndicate 3123, also known as The Fidelis Partnership Syndicate, was launched by The…
BOSTON (AP) — Drivers for Uber and Lyft will earn a minimum pay standard of $32.50 per hour and will be eligible for occupational accident insurance paid by the companies for up to $1 million for work-related injuries under a …
Cyber insurance premiums are falling globally as businesses become more adept in curbing their losses from cybercrime, even as ransomware attacks are rising, broker Howden said in a report on Monday. Insurance premiums to protect companies…
Markerstudy, the UK insurance group, has completed the purchase of the Ardonagh Group’s personal lines broking business, Atlanta Group, in a deal that was first announced in September 2023. While financial details of the transaction were…
Ryan Specialty Holdings, Inc. said company founder, chairman and chief executive Patrick G. Ryan will move to an executive chairman role and Timothy W. Turner will take over as will become CEO. Turner is currently president of Ryan…
This has been a year of insurance sticker shock in the US. But the man who provides insurance to insurers thinks maybe the shock still isn’t enough to steer people away from risk in a changing climate. “There is not …