October 30, 2023
Via: Insurance JournalSouth Carolina in 2022 saw a record number of complaints about insurance fraud, and has almost matched the number through the first 10 months of this year. And some state lawmakers are now looking into the reasons for the increase. […]
October 13, 2023
Via: Insurance JournalIsrael’s parliamentary finance committee approved a plan to provide a state guarantee of $6 billion to cover insurance against war risks to Israeli airlines, the Finance Ministry said on Thursday. The guarantee framework will grant Israeli airlines insurance policies against […]
October 12, 2023
Via: Insurance JournalThe U.S. title insurance industry saw its volume of net premium written decline by 16.1% in 2022, to approximately $20.9 billion, following a decade of growth during which this level had more than doubled, according to a new AM Best […]
October 11, 2023
Via: Insurance JournalSmall businesses may be growing their revenue, but the vast majority – 75% – are not adequately protecting themselves and their assets. Small businesses are an essential part of the US economy, with 56 million workers employed at firms with […]
September 28, 2023
Via: Insurance JournalThe Bank of England on Thursday set out a reform of capital rules for insurers to “unlock tens of billions of pounds” for investments in the economy. The Solvency II rules were inherited from the European Union and their reform […]
Capital and Risk, Insurance, Regulations
September 12, 2023
Via: Insurance JournalChina’s financial regulator on Sunday reduced the risk weighting it attaches to insurance companies’ holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country’s lagging stock market. The National Administration of Financial Regulation (NAFR)said on […]
September 11, 2023
Via: Insurance JournalTotal global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according to models […]
September 8, 2023
Via: Insurance JournalHong Kong’s heaviest rainstorm since records began in 1884 flooded the financial hub’s streets and sent torrents of water rushing through subway stations, bringing much of the city to a standstill and forcing the stock market to scrap trading on […]
September 7, 2023
Via: Insurance JournalGrowing fears about the state of the world are pushing more people to take out insurance even as prices rise, Lloyd’s of London Chief Executive Officer John Neal said. Rising inflation, recession worries, climate threats and geopolitical tensions are making […]
September 5, 2023
Via: Insurance JournalThe property insurance industry breathed a sigh of relief after Hurricane Idalia landed in a less-populated part of the coast, but regulators have signaled a need to make sure that claims from the area, now topping 10,000, are taken care […]
August 31, 2023
Via: Insurance JournalSome coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business amid a surge in demand for […]
August 29, 2023
Via: Insurance JournalThe New Hampshire Insurance Department (NHID) recently approved a workers’ compensation rate proposal that will reduce voluntary loss costs by 14% on average. The new rates will apply to policies effective starting on January 1, 2024. According to the insurance […]
August 22, 2023
Via: Insurance JournalFlorida property owners stuck with higher premiums and new flood insurance mandates may want to nudge their local governments to take a look at the town of Cutler Bay and the counties of Monroe, Pinellas and Ocala. Those jurisdictions are […]
August 18, 2023
Via: Bank DirectorBank acquisitions of insurance brokerages have been on a steady decline for the better part of 15 years. In 2007, these transactions represented approximately 21.7% of total announced insurance brokerage merger and acquisition (M&A) transactions. By 2012, that percentage dropped […]
August 3, 2023
Via: Insurance JournalEuropeans are among the least insured against certain types of extreme weather and other natural disasters in the developed world, a predicament made more worrisome as the continent suffers a summer of devastating heat, wildfires and drought. In recent months, […]
July 14, 2023
Via: Insurance JournalA top buyer of Russian oil is bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue. India and China have been the […]
July 11, 2023
Via: Insurance JournalSome 11,300 claims for damages from riots in France had been filed as of July 7 for a total cost of €650 million ($716 million), the insurers federation said in a statement Tuesday. The number of claims has doubled compared […]
July 7, 2023
Via: Insurance JournalUkraine’s wartime defense spending will remain high next year, underscoring the need for allies to provide war-risk insurance to help attract investment, the nation’s finance minister said. “Without international support, without war-risk insurance, we will not attract as much investment […]
July 3, 2023
Via: SpiceworksBrian O’Connell of insuranceQuotes.com shares how employers leverage insurtech to improve employee benefits and navigate the changing workplace landscape. Intro: Highly publicized trends like great resignation and quiet quitting significantly impact the workplace, so employers are turning to innovations to […]
June 29, 2023
Via: JD SupraFinancial sponsors have become progressively more involved in the insurance sector over recent decades. Their involvement broadly falls into three categories: Sponsors establishing or acquiring their own life and annuity insurers or reinsurers on an own-account basis, either wholly owned […]