American European Insurance Company and ShoreOne Insurance Managers, Inc., today announced their successful sponsorship of the Charles River Re Ltd. Series 2024-1 catastrophe bond. As part of the transaction, American European is entering into a reinsurance contract with Charles River Re Ltd. which offers protection against named storms for business…
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A federal jury in Los Angeles convicted a California man this week for insider trading. Bolandian then used the inside information to trade in advance of the public announcements of Integrated Device Technology Inc.' s April 2012 planned acquisition of PLX Technology Inc., and Salesforce.com Inc.' s June 2013 acquisition of ExactTarget Inc. As a result of his…
Daybell is charged with conspiracy to commit murder, first-degree murder, insurance fraud and grand theft in connection to the deaths of 16- year-old Tylee Ryan, 7- year-old J.J. Vallow and Daybell’ s late wife, Tammy Daybell. Larry and Kay Woodcock, grandparents to J.J. Vallow, were in attendance on Wednesday. The prosecution— comprised of attorneys Rob Wood,…
–As humans gear up for allergy season, it's essential to remember that our furry friends are also susceptible to seasonal allergies. Spot Pet Insurance, a leading provider of pet insurance, has analyzed its data and found a significant spike in claims for Cytopoint and Apoquel, common treatments for itchy skin and seasonal allergies in pets, starting in May and…
Aon Announces Successful Completion of Innovative Pilot Placing Insurance Using Blockchain Technology DUBLIN, April 11, 2024- Aon plc, a leading global professional services firm, announced the successful completion of an innovative pilot for placing insurance using blockchain and smart contract technology. The pilot was conducted with Nayms SAC Ltd., a…
Nevertheless, Victoria does not have an excess of loss cover to protect against potential catastrophe losses, which is an offsetting factor in the balance sheet strength assessment given its exposure to the high risk of earthquakes in parts of Kazakhstan. Victoria has a track record of strong operating performance supported by solid underwriting…
Reality Check is a Sacramento Bee series holding officials and organizations accountable and shining a light on their decisions. The goal of the bill“ is to force insurers to take on risks that are not supported by adequate rate levels and jeopardize their financial solvency,” said the organizations, which include the Personal Insurance Federation of…
We all hope to remain healthy and independent throughout our lives- but life can be unpredictable. You may never need any of these kinds of care, but the odds aren't necessarily in your favor: Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and support in their remaining years, according to the U.S. Department of…
AM Best has affirmed the Financial Strength Rating of A-, the Long-Term Issuer Credit Rating of“ a-” and the Mexico National Scale Rating of“ aaa.MX” of Seguros El Potosí, S.A.. The outlook of these Credit Ratings is stable. The very strong assessment also recognizes the conservative profile of El Potosí’ s investment portfolio and concentration in Mexico fixed…
Reality Check is a Sacramento Bee series holding officials and organizations accountable and shining a light on their decisions. The goal of the bill“ is to force insurers to take on risks that are not supported by adequate rate levels and jeopardize their financial solvency,” said the organizations, which include the Personal Insurance Federation of…
–World Insurance Associates LLC, a Top 50 Insurance Brokerage, announced today that it acquired the business of InterWeb Insurance of Lake Havasu City, AZ on April 1, 2024. "InterWeb Insurance provides our customers access to insurance protection and risk management with integrity and excellence," says Jack Pontolillo, CEO, InterWeb Insurance.
Starting in July, at the start of the next fiscal year, West Virginia officials will be forced to dramatically cut the state's Medicaid budget. And because the state will also lose three federal matching dollars for each fewer dollar that West Virginia spends on the program, the cuts could be severe. Along with low-income adults, the insurance covers nearly half…
The economic drivers of the U.S. property/casualty insurance industry are now growing faster than the nation’ s Gross Domestic Product and are expected to gain further momentum in the event of Federal Reserve monetary rate cuts, according to the Insurance Information Institute’ s latest Insurance Economics Outlook. “We’ ve been forecasting that P/C…
–Oyster, an embedded insurance platform for commerce, has announced its partnership with Electric Bike Company to provide seamless insurance to customers at the point-of-purchase. As the demand for electric bikes continues to surge, Electric Bike Company recognizes the importance of ensuring the safety and security of its riders. By teaming up with Oyster,…
According to 2023 LexisNexis Risk Solutions claims satisfaction research, 33% of consumers cited the length of time to settle claims as a primary reason for switching carriers. Increased claims severities, which are well above historical averages, have continued to challenge the U.S. auto insurance market, registering six consecutive quarters of at least…
AM Best has downgraded the Financial Strength Rating to B++ from A- and the Long-Term Issuer Credit Rating to“ bbb+” from“ a-” of Brotherhood Mutual Insurance Company. The outlook of the FSR has been revised to stable from negative while the outlook of the Long-Term ICR is negative. The Credit Ratings reflect Brotherhood’ s balance sheet strength, which AM Best assesses…
AXIS Joins Project Healthy Minds Corporate Coalition; Launches Global Effort to Promote Mental Health and Wellbeing Within Insurance Company Release- 4/ 11/ 2024 10:00 AM ET Download the PDF version PDF Format PDF PEMBROKE, Bermuda, April 11, 2024- AXIS Capital Holdings Limited announced today it has joined The Project Healthy Minds Corporate Coalition.
NEW YORK, April 11– The City University of New York's Graduate School of Public Health and Health Policy issued the following news release:. In a newly published study, Assistant Professor Sheng Li and colleagues tested the hypothesis that children in New York City with an immigrant parent were more likely to lack health insurance and report poorer…
In this role, Nesselt will be responsible for the Atlantic regional strategy for the commercial property& casualty business and driving business results through a strong sales culture, producer recruiting and onboarding, and strengthening market relationships.. “Rob has shown a tremendous dedication supporting and leading our commercial production team…