Category: Insurance

July 11, 2023

Some 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

Ukraine’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

Brian 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

Financial 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 […]

June 21, 2023

Aon, Lloyd’s and Vienna Insurance Group (VIG) announced they are collaborating to provide foreign re/insurance capacity to support Ukraine’s recovery and reconstruction. As part of the UK-Ukraine Private Finance Partnership, Lloyd’s and Aon have committed to deliver fast-track access to […]

June 14, 2023

The United Nations Development Programme (UNDP) announced the successful binding of insurance coverage for the mission coordinated by the United Nations to prevent over a million barrels of oil spilling into the Red Sea. Securing insurance is a pivotal milestone […]

June 14, 2023

About one third of auto insurance customers in the U.S. reported a rate increase in the past year, leading to a growing number moving to usage-based insurance (UBI). This has led to the largest decline in customer satisfaction in 20 […]

June 8, 2023

Washington Insurance Commissioner Mike Kreidler issued fines in April and May totaling $398,500 against insurance companies for violations of state insurance laws and regulations. Following is a list of reported violations the commissioner’s office issued: Insurance companies LifeWise Health Plan […]

June 2, 2023

Kansas Insurance Commissioner Vicki Schmidt announced there will not be a Workers Compensation Fund assessment this year. Carriers, pools, and self-insured businesses will not be required to pay into the assessment fund for fiscal year (FY) 2024. This will reduce […]

May 24, 2023

A bipartisan bill proposed by federal lawmakers would provide farmers a discount on crop insurance premiums by planting cover crops. The Conversation Opportunity and Voluntary Environment Resilience (COVER) Act, proposed last week by Sen. Sherrod Brown, D-Ohio, and Reps. Sean […]

May 19, 2023

Drivers are kicking the tires and trading up for new auto insurance policies. In the first quarter, new policy growth rate was up 17% over the same period in 2022, and a record-breaking shopping growth rate was up 10.2% compared […]

May 10, 2023

With the Florida legislative changes passed in December – prohibiting assignments of benefits and one-way attorney fees – there is now an opportunity to change the dynamic in Florida and create a more stable market. Historically, the main tools to […]

May 4, 2023

The California State Assembly unanimously voted for a bill that will help accelerate the transition to clean-air technology by making sure clean fleets have access to available and affordable commercial insurance. Assembly Bill 844, the Clean Fleet Insurance Accelerator legislation […]

April 27, 2023

Average global cyber insurance prices continued to moderate in the first quarter, with average price increases of 11%, compared to 28% in Q4 2022, according to the Global Insurance Market Index published by insurance broker Marsh. This was particularly evident […]

April 6, 2023

An insurance company is entitled to generous tax credits even if the carrier did not invest directly in renewable energy projects, a North Carolina court has decided, striking down a $24 million tax assessment by the state’s Department of Revenue […]

April 4, 2023

The Mississippi insurance commissioner is reminding consumers and insurance companies that the state will soon have a pet insurance regulatory framework in place, thanks to a law signed in March by the governor. “Pet insurance may seem like a joke […]

March 31, 2023

Travelling can be a thrilling and enlightening experience, but it also comes with a certain amount of risk. From flight cancellations and lost luggage to medical emergencies and unforeseen accidents, anything can happen when you’re away from home. That’s why […]

March 30, 2023

Russia still relies on Western insurers to cover more than half of the tanker fleet that exports its oil, according to data compiled by Bloomberg, and the country’s energy officials are voicing concerns about the situation. The Group of Seven […]

March 28, 2023

Citizens Property Insurance Corp. has weighed in on a question that could shake up the appraisal process in Florida insurance claims disputes, urging state regulators to require that appraisers be licensed adjusters. In a motion to intervene in a petition […]

March 27, 2023

Bonds designed to insure Credit Suisse Group AG against disaster could outlive the bank. Credit Suisse’s Operational Re bonds, insurance-linked securities that cover the bank against perils such as falling victim to fraud and accounting errors, should remain unaffected by […]