Mediobanca makes takeover bid for Banca Generali

Mediobanca makes takeover bid for Banca Generali

[ad_1] Mediobanca, based in Milan, holds a 13% stake in Generali, making it the insurer’s largest shareholder. The holding has been a point of contention between Mediobanca and other major investors in Generali, including the family of the late Leonardo Del Vecchio and businessman Francesco Gaetano Caltagirone. Both investors also hold stakes in Mediobanca and…

Fifth Circuit rules against Allied World in $10 million sprinkler system insurance dispute

Fifth Circuit rules against Allied World in $10 million sprinkler system insurance dispute

[ad_1] The Fifth Circuit found that under Louisiana law’s one-year prescription period for products liability claims, Allied’s lawsuit was time-barred. The court ruled that RISE Residential, acting as an agent for the developer Provident Group-Flagship Properties, LLC, had constructive knowledge of the root cause well before the July 23, 2020 deadline. That knowledge, the court…

Progressive Insurance to hire thousands of employees this year

Progressive Insurance to hire thousands of employees this year

[ad_1] Furthermore, the company’s customer care department is expanding with a range of call center positions, including Spanish bilingual representatives and licensed insurance agents. The in-house legal team is also hiring defense attorneys in Sherman Oaks, California; Atlanta, Georgia; Long Island, New York, and multiple cities in Florida and Texas. Other openings include positions for…

Leadership shakeup at Zurich, Old Republic International

Leadership shakeup at Zurich, Old Republic International

[ad_1] Craig R. Smiddy, president and CEO of Old Republic International, said that since joining BITCO in 2023, Lehman has contributed to growth, profitability, and operational efficiency, and that his leadership will help maintain continuity as the company continues to serve agents, brokers, and customers with specialized insurance solutions.  [ad_2] Source link

Alabama Legislature targets coastal commercial insurance stability with adoption of HJR220

Alabama Legislature targets coastal commercial insurance stability with adoption of HJR220

[ad_1] On April 24, 2025, the Alabama Legislature formally adopted House Joint Resolution 220 (HJR220), emphasizing the critical need to address the growing instability and affordability challenges in commercial property insurance along Alabama’s coastal regions. Initially introduced on April 8, 2025, the resolution acknowledges the significant economic impact of coastal areas, including over $10 billion…

State Farm must cover scooter crash under uninsured motorist policy

State Farm must cover scooter crash under uninsured motorist policy

[ad_1] The ruling, issued on April 23, 2025, stems from an incident in November 2022, when Michelle DiPego of Muncie, Indiana, was walking along a Baltimore city path and was struck from behind by a woman riding an electric scooter. Although the rider and a companion briefly stopped, they refused to identify themselves and left…

From AI deepfakes to wire transfer fraud, cyber risks are growing for high-net-worth individuals

From AI deepfakes to wire transfer fraud, cyber risks are growing for high-net-worth individuals

[ad_1] Gia Snape of Insurance Business sat down with Kareen Boyadjian (pictured), vice president of personal and healthcare cyber underwriting, to discuss emerging cyber risks for high-net-worth individuals and families, including social engineering, wire transfer, and artificial intelligence-driven threats, and how the cyber insurance market can evolve to address gaps in coverage.  [ad_2] Source link

Universal Insurance maintains Florida pricing strategy amid new competitors

Universal Insurance maintains Florida pricing strategy amid new competitors

[ad_1] Since 2022, more than 10 new insurers have entered Florida’s homeowners insurance market, a trend driven by recent legislative changes aimed at reducing litigation and fraud. Among the new entrants is Mangrove Property Insurance, Tailrow Insurance, Mainsail Insurance and Orange Insurance Exchange. [ad_2] Source link

QBE North America launches new commercial property product

QBE North America launches new commercial property product

[ad_1] The Commercial Property product is available to a range of industries, including education, financial institutions, healthcare, hospitality, gaming, industrial, light manufacturing, mixed real estate, municipalities, offices, retail, technology, and wholesale and industrial operations. [ad_2] Source link

Private equity giant Bain Capital in talks for giant Acrisure deal

Private equity giant Bain Capital in talks for giant Acrisure deal

[ad_1] The prospective capital injection would be structured as preferred equity, sources said, with final terms yet to be agreed. The deal, if concluded, would allow BDT & MSD Partners— which previously led a $3 billion senior preferred stock investment in Acrisure in 2021— to partially redeem its existing position in the company. [ad_2] Source…

Bain Capital eyes up massive Acrisure deal

Bain Capital eyes up massive Acrisure deal

[ad_1] The prospective capital injection would be structured as preferred equity, sources said, with final terms yet to be agreed. The deal, if concluded, would allow BDT & MSD Partners— which previously led a US$3 billion senior preferred stock investment in Acrisure in 2021— to partially redeem its existing position in the company. [ad_2] Source…

Mediobanca launches takeover bid for Banca Generali

Mediobanca launches takeover bid for Banca Generali

[ad_1] Mediobanca, based in Milan, holds a 13% stake in Generali, making it the insurer’s largest shareholder. The holding has been a point of contention between Mediobanca and other major investors in Generali, including the family of the late Leonardo Del Vecchio and businessman Francesco Gaetano Caltagirone. Both investors also hold stakes in Mediobanca and…

Insurance Development Forum launches new webpage on risk modelling tools

Insurance Development Forum launches new webpage on risk modelling tools

[ad_1] The development of the tools was funded by IDF insurance industry members, including AIG, Aon, AXA, Convex Insurance, Guy Carpenter, Howden, RenaissanceRe, SCOR, and WTW. Several tools were developed in partnership with Oasis and Maximum Information. The launch reflects ongoing collaboration between public and private sector organisations, including re/insurers, modelling firms, development banks, and…

Top Workers’ Compensation Insurance Companies in California | 5-Star Workers’ Compensation Californi

Top Workers’ Compensation Insurance Companies in California | 5-Star Workers’ Compensation Californi

[ad_1] Jump to winners | Jump to methodology Providing for Golden State employees The bar for Californian workplace safety is high and only getting higher. That’s in part due to the Division of Occupational Safety and Health of the California Department of Industrial Relations (Cal/OSHA) proactively setting the tone, often exceeding federal OSHA requirements. This translates…

PIA Wisconsin honors two Republicans with legislative awards

PIA Wisconsin honors two Republicans with legislative awards

[ad_1] Dallman was recognized for his role as author of 2023 Wisconsin Act 60, ensuring its passage during the 2023-2024 legislative session. The legislation requires high school students to complete a half credit of education on financial literacy, covering topics such as money management, credit and debt, risk management, and insurance. [ad_2] Source link

BHSI taps duo to strengthen broker relationships

BHSI taps duo to strengthen broker relationships

[ad_1] Travis Bethune, customer and broker engagement leader for North America at BHSI, said that in his new role, Poppie will focus on expanding relationships with regional and global brokers across the US, while Cummins will lead efforts to grow customer and broker engagement in the Northern Central region. [ad_2] Source link

RT Specialty launches public entity casualty program

RT Specialty launches public entity casualty program

[ad_1] RSPE also considers a range of classes, including municipalities, public schools, community colleges, special service districts, and transit authorities. Eligibility is open to pools and individual risks, with a minimum self-insured retention (SIR) of $100,000 and a minimum premium of $125,000 per account. [ad_2] Source link