The early-season fires, which damaged structures and highlighted preparedness gaps, underscored the importance of reviewing policies before peak wildfire conditions return in the summer and fall. Mercury Insurance is encouraging policyholders, particularly those in high-risk areas, to update their coverage and prepare for possible evacuations. Source link
At the end of the quarter, Brighthouse reported common stockholders’ equity, or book value of $3.5 billion, or $61.17 per common share. Excluding accumulated other comprehensive income (AOCI), the company’s book value stood at $8.2 billion, or $141.87 per share. Source link
“FinTech Plus exemplifies Willis’ commitment to innovation and our alignment across the global network,” said Trenton McNee, fintech and digital assets industry leader for Great Britain. “Working closely with our US counterparts, we combined deep industry insight with Willis’ worldwide insurer partnerships to craft a truly dynamic solution, one that anticipates tomorrow’s risks and supports…
“FinTech Plus exemplifies Willis’ commitment to innovation and our alignment across the global network,” said Trenton McNee, fintech and digital assets industry leader for Great Britain. “Working closely with our US counterparts, we combined deep industry insight with Willis’ worldwide insurer partnerships to craft a truly dynamic solution, one that anticipates tomorrow’s risks and supports…
The policy also allows for indemnity related to reasonable expenses incurred while mitigating claims – such as alternative suppliers, technical analysis, third-party design-arounds, or product recalls. In addition, reputation and brand protection is included, with support for costs linked to engaging public relations consultancies. Source link
The bill includes further clarification on renewal procedures. Currently, only those aged 55 and older may retake the course every three years to maintain eligibility. Under HF3290, that limitation would be removed, allowing more drivers to refresh their eligibility regardless of age. Drivers who have not claimed the discount in over three years could also…
In the wake of a devastating EF2 tornado that hit Rome, New York, in July 2024, lawmakers are moving to strengthen disaster resilience with a sweeping legislative package. Senate Bill 7761, introduced by Sen. Joseph Griffo on May 5, 2025, outlines a three-part initiative aimed at delivering immediate aid and long-term climate mitigation tools for…
In Asia, underlying net income was C$197 million, an increase of C$20 million or 11%. Asset management and wealth contributed C$7 million from higher fee income driven by increased assets under management. Individual protection added C$13 million, driven by new sales, in-force business growth, and joint venture performance, partially offset by lower surplus earnings and…
For insurers, the bill mandates the development of a comprehensive written information security program tailored to the size, complexity, and risk profile of the organization. Each licensee must conduct periodic risk assessments, designate responsible personnel, and implement administrative, technical, and physical safeguards to protect non-public information. Insurers domiciled in Oklahoma are required to submit an…
Lower expenses and improved risk experience lift segment Source link
Allard joins Starwood Capital with more than 27 years of financial services experience. Most recently, he helped establish Rothesay Asset Management North America, where he held dual roles as chief investment officer and head of Rothesay North America for seven years. Rothesay, originally founded within Goldman Sachs, was later acquired by Blackstone, GIC, and MassMutual…
House Bill 1549 removes these requirements, aiming to simplify the placement process and improve access for consumers. The Florida Surplus Lines Service Office stated that the bill will expand consumer options, cut down on repetitive documentation, and enable quicker placement of coverage in the surplus lines market. Source link
As of January 2024, 31 states, plus the District of Columbia, allow workers to file claims for mental health conditions arising from work-related factors, according to new data from IB+. This is accompanied by a decrease in workers’ compensation premiums and losses to $42 billion and $19 billion, respectively, in 2024, down from $45 billion…
Here’s why some policies can come up short Source link
Insurers face mounting risks from unregulated substances flooding the market Source link
Years of supply chain shocks, regulatory shifts, and rising brand risks led many to believe that recall insurance – especially for small and midsize manufacturers – was poised for a breakout. But Robert Balogh (pictured), executive vice president at Amwins, said the wave still hasn’t hit. “It really hasn’t yet,” he said. “That’s not to…
“We have delivered good growth, solid underwriting margins, and a strong balance sheet – a combination that continues to support excellent returns and more predictable outcomes. These are important indicators that our business is working – for customers, for shareholders, and for our people,” he said. Source link
The survey, fielded in April 2025, underscores the growing mental health challenges faced by insurance employees, particularly in light of the ongoing pressures stemming from economic volatility, geopolitical tensions, extreme weather events and technological disruptions, like AI. Source link
Flexible protection aims to help start-ups and established companies manage threats Source link
Is insurer’s success a nail for London’s casket? Source link
“Our first-quarter results reflect progress in underwriting and investment performance,” said Tim Sweeney, Liberty Mutual chairman and CEO. “We saw a 6.5-point improvement in our underlying combined ratio, reaching 81.9% for the quarter. Despite higher catastrophe losses, including those tied to wildfires in California, our total combined ratio stood at 96.6%.” Source link
Zurich was represented by Mound Cotton Wollan & Greengrass LLP, with Philip C. Silverberg as counsel. Providence Capital LLC and Sherle Wagner International LLC were represented by Kevin Schlosser of Meyer, Suozzi, English & Klein, P.C., and Daniel M. Rabinovitz of Murphy & King, P.C., admitted pro hac vice. Source link
Yvonne Michaud, a veteran employee who had been with Travelers for roughly 45 years, resigned in May 2019 at the age of 69. In 2021, she filed a lawsuit claiming that the company had discriminated against her based on her age. Michaud said she’d been passed over for promotions, denied raises, and not compensated for…
Zurich’s business updates for Q1 The Retail segment also reported a rise in gross written premiums of 11% in US dollars. Rate changes of 5% in the first quarter, coupled with pricing adjustments in motor and property lines, along with the integration of AIG’s global personal travel insurance and assistance business, supported the increase. Underwriting…
The growth is due to strong sales in Canada and the US Source link
“Leveraging our European expertise, we are excited to provide US residents travel protection should they be applying for a Schengen visa or embarking on their summer getaway,” said Blessy George, head of North America, AXA Partners. “AXA Partners US is able to offer our customers essential coverage at a reasonable price.” Source link
Under the proposed amendment to Minnesota Statutes 2024, section 256B.0571, subdivision 6, partnership status would be extended to eligible policies that meet criteria in sections 62S.23, subdivision 1, paragraph (b), and 62S.312, even if issued before July 2015. It would also apply to policies exchanged after July 1, 2006, under section 62S.24, subdivision 8. Source…
A newly introduced bill in Rhode Island could significantly change how insurers process claims in the state. Senate Bill S1015, introduced on May 2, 2025, proposes a sweeping update to the state’s Unfair Claims Settlement Practices Act, redefining unfair conduct and creating stricter requirements for claims handling, vehicle repairs, and settlement transparency. Source link
The case, Pelc v. Southington Dental Associates, P.C., centered around a $1,037,570 settlement awarded to Francesca Pelc, a dental assistant injured at work in 2006. The disagreement was over the $185,247 in attorney fees approved as part of that settlement, which had been sitting in escrow while the two firms – Levine & Levine and…
Improved capital ratios and policy growth drive momentum across segments Source link
