“Allianz’s first quarter performance and our confirmed outlook underscore our financial strength and resilient business model, which benefits from the attractiveness of our customer value propositions amid geopolitical and economic uncertainty,” he said. “In fact, we view this uncertainty and change as a catalyst for innovation and growth, allowing us to pursue new opportunities and…
Talanx performance across divisions In the reinsurance division, insurance revenue increased 5% to €7.0 billion. However, the insurance service result declined to €515 million from €720 million, driven by the California wildfires. The investment result before currency effects in reinsurance saw a modest increase to €252 million. Operating profit for the division was €702 million,…
The legislation, which has already cleared the House by an overwhelming 96-17 margin, proposes to bar individuals who are unlawfully present in the US from seeking compensation for general damages — such as pain and suffering, emotional distress, and lost wages — in civil cases stemming from automobile accidents. However, it would still permit recovery…
The Montana Legislature has approved a new measure requiring insurance companies operating in the state to disclose detailed wildfire risk score information when used to underwrite or rate residential property. House Bill 533, passed by the 69th Legislature and now enrolled, mandates that admitted insurers provide specific information to homeowners, applicants, or their insurance producers…
The case stemmed from disputes over insurance coverage for two commercial properties in Louisiana that were damaged during Hurricane Ida in August 2021. After the storm, the properties were sold to new owners – 3131 Veterans Blvd LLC and Mpire Properties LLC – who took over the rights under the existing insurance policies. The policies,…
Under the proposal, a “residential home safety and loss prevention course” is defined as a program that offers instruction on minimizing personal injuries and property losses from fire, theft, burglary, accidents, and weather-related events, including hurricanes, ice storms, and tornadoes. Source link
If the total taxes calculated under the bill amount to less than $5,000 in a given year, the captive insurance company must pay a minimum tax of $5,000. For captives newly authorized within a calendar year, the minimum tax is prorated by quarter: $5,000 if authorized in the first quarter; $3,750 in the second; $2,500…
Industry vets bring expertise in terrorism underwriting and nationwide construction strategy Source link
Under the statute, policyholders are no longer permitted to reassign post-loss benefits, including any rights, duties, or benefits under their insurance policies. While insurers cannot require the use of a particular repair facility, they may still suggest preferred vendors and operate within existing repair networks. Source link
David Blades (pictured above), associate director, industry research and analytics at AM Best, said that social inflation, life care plans, jury anchoring, and litigation financing are frequently cited as contributing to the escalation of excess verdicts. Source link
According to the complaint, Marsh alleges that Hanrahan conspired with John Rooley, CEO of WTW’s global aviation and space unit, to target and recruit the core members of Marsh’s aviation and space teams in the United States, Canada, and the United Kingdom. Source link
A growing disconnect between insurance market capacity and lender requirements is squeezing real estate borrowers and leaving brokers to close the gap Source link
NOAA’s disaster database has long been a critical resource for insurers, brokers, and risk modellers. Its abrupt removal creates blind spots as hurricane season looms, impacting property insurance pricing, risk models, and underwriting accuracy, according to brokers Insurance Business spoke to. Source link
“Despite the positive perceptions, insurers face challenges in ensuring consumers adopt AI tools. Many consumers find that the technology is not yet sufficiently developed to be adopted at scale, eroding their trust,” said Beatriz Benito, GlobalData’s lead insurance analyst. Source link
The US back-down on tariffs will have some short (and long-term) effects Source link
But the appellate panel disagreed. Writing for the court, Judge Noah P. Hood explained that the term “accident” wasn’t defined in the policy, so Michigan law supplies a default definition: “an undesigned contingency, a happening by chance, something not naturally to be expected.” Importantly, the court emphasized that whether an incident qualifies as an accident…
Consumer Watchdog, a nonprofit advocacy group, has also condemned the move, calling it a violation of California’s Proposition 103, which requires that insurers fully justify any rate increase before implementation. “The public deserves transparency,” said Carmen Balber, the group’s executive director. “Refunds after the fact do little for homeowners who are already struggling.” Source link
New product offerings Starwind Environmental, led by Program President Mike Padula, will provide coverage for a range of environmental exposures. The program is intended for contractors, property owners, and environmental service providers. Available products include Contractors Pollution Liability (CPL), Contractors Pollution and Professional Liability (CPPL), Site Pollution Liability (SPL), Transportation Pollution Liability (TPL), and Environmental…
Gallman served Alfa, her UM carrier, with the original suit in July 2021. One month later, she voluntarily dismissed the action. In December 2021, she filed a renewal complaint and served Alfa the next day. Alfa moved for summary judgment, arguing that it hadn’t been timely served in the original suit. The trial court agreed,…
The case, Xiang Zhao v. State Farm Fire & Casualty Co., 2025 IL App (2d) 240723, began after a hailstorm struck Zhao’s home in Vernon Hills, Illinois, on April 20, 2023. Zhao filed a claim with State Farm, which responded by issuing a payment of $12,677.94 for repairs to gutters, downspouts, and window trim. Source…
The case centers on years of litigation stemming from over 30,000 lawsuits filed against Moldex by plaintiffs who alleged its respirators failed to protect them from inhaling hazardous dusts, including silica and asbestos. Initially, Moldex’s primary insurers covered its defense. After those policy limits were exhausted in 2003, Moldex turned to its umbrella and excess…
“We are proud to join forces with King Risk Partners,” he said. “Our shared values—excellence, integrity, and accountability—make this a natural fit. With access to King Risk’s expansive resources and forward-thinking strategies, we are confident our clients will enjoy an even greater range of services and innovative insurance solutions. Together, we are committed to maintaining…
“While other market participants continued business as usual, we took a different path,” said Jim Belardi, co-founder and CEO, during a recent investor call. “With the presence of market volatility, we made the strategic decision to accelerate new business volumes, which resulted in $26 billion of gross inflows.” Source link
The US back-down on tariffs will have some short (and long-term) effects Source link
As extreme weather events outpace building codes, Victor’s Yvonne Castillo says the design and construction industry must face a hard truth—climate risk is no longer future tense Source link
Currently, the federal government covers 68% of premiums for policies offering up to 80% revenue or yield coverage and 53% for policies at the 85% coverage level. Under the bill, those subsidy rates would increase to 77% and 68%, respectively, according to an analysis released by Sen. John Hoeven, R-N.D., one of the bill’s sponsors….
Human element in the workplace Another risk is the human element. The workforce in 2025 includes four generations, namely Baby Boomers, Gen X, Millennials and Gen Z, creating both opportunities and challenges. Each generation brings different values, work preferences and skills, making recruitment, development and retention more complex. Source link
Chairman takes over as carrier withdraws financial guidance Source link
The report highlights a rise in the percentage of homeowner insurance claims closed with no payment. Nationally, 41.9% of claims were closed without payment in 2024, up from 25.8% in 2004. In Louisiana, the rate was higher, at 44.6%. Several insurers closed more than half of their homeowner claims without making any payments. Source link
Elsewhere, Markel launched FintechRisk+, an insurance policy tailored for fintech companies. This policy offers comprehensive coverage, including financial services and technology liability, directors and officers (D&O) liability, theft, and cyber protection, with limits up to $20 million. Source link
