The expansion is a centerpiece of Lara’s “Sustainable Insurance Strategy,” a broad effort to stabilize California’s fractured insurance market amid mounting climate-related losses. In recent years, major carriers have pulled back from insuring properties in wildfire-prone regions, citing escalating claims and regulatory constraints. The FAIR Plan – intended as a backstop for those unable to…
The dispute centers on a Feb. 14 court order, which stayed an earlier emergency order issued by the Utah Insurance Department on Dec. 2, 2024. That emergency order had restricted the operations of three A-CAP-affiliated entities: Sentinel Security Life Insurance Company, Haymarket Insurance Company, and Jazz Reinsurance Company. Source link
Under the bill, joint and several liability rules would be modified so that businesses are required to pay economic damages in proportion to their share of fault in an incident. However, if a business is found to be more than 50% at fault, it would remain responsible for the full economic damages. Noneconomic and punitive…
The insurer, part of Berkshire Hathaway Insurance Group, currently employs nearly 3,800 workers across Florida, primarily in Jacksonville and Lakeland. Geico said the expansion is part of its ongoing commitment to modernize operations and grow its business. Source link
House Bill 1181 and its Senate counterpart propose to eliminate the state’s no-fault insurance law effective July 1, 2026. Under the proposed changes, drivers would be required to carry bodily injury liability coverage with minimum limits of $25,000 per person, $50,000 per incident, and $10,000 for property damage. Source link
Andy Shelton, of Brown & Brown, gives his market overview of the US workers’ compensation insurance landscape. He discusses the market’s recent favorable conditions, the classification of workers as independent contractors, shifts in workforce demographics and more. Source link
President Donald Trump’s pro-business stance and “America First” philosophy could make US firms more profitable, which could positively impact valuations, according to at least one specialist. At the same time, however, economic uncertainty, driven by Trump’s tariffs and trade policies, could dampen M&A as investors take a wait-and-see approach. Source link
Tensions between Generali’s management, Mediobanca, and the billionaire investors have been further heightened this year over the insurer’s agreement with French banking group BPCE to merge their investment units, aiming to create Europe’s second-largest asset manager. Some Generali board members, backed by Caltagirone, have opposed the deal. Source link
Tensions between Generali’s management, Mediobanca, and the billionaire investors have been further heightened this year over the insurer’s agreement with French banking group BPCE to merge their investment units, aiming to create Europe’s second-largest asset manager. Some Generali board members, backed by Caltagirone, have opposed the deal. Source link
The launch comes as Ardonagh reported strong financial results for 2024. The company reported adjusted EBITDA of $683.4 million, up 31.2% from a year ago, while reported income rose 24% to $1.98 billion. The company also increased its workforce by nearly 1,700 employees and launched its first graduate scheme. Source link
Jump to winners | Jump to methodology Generational superstars Insurance Business has compiled the 2025 Global 100, featuring outstanding professionals from across six different markets: the US, Canada, Australia, New Zealand, Asia-Pacific and the UK. All of those featured have had a definitive impact on the industry and taken their respective firms to new heights. 2024…
A search for solutions With the legislation in limbo, lawmakers have turned to a task force model, aiming to bring all stakeholders to the table – including the Department of Insurance, DCFS, insurers, legal advocates, and child welfare organizations. The group is expected to begin meeting within 30 days of all appointments and must submit…
The financing will be issued through surplus debentures, with $95 million provided by an affiliate of Gallatin Point Capital LLC and the remaining $15 million funded by Baldwin affiliates. The transaction is expected to close in the second quarter of 2025, subject to regulatory approvals and customary closing conditions. Source link
Ategrity operates in 48 states and the District of Columbia on a surplus lines basis. At the end of 2024, California accounted for 21% of its gross written premium, followed by Florida at 16.2%, Texas at 12.8%, and New York at 6.4%. The company provides commercial property, low-limit general liability and management, as well as…
“Workers’ compensation fraud is a significant issue, with estimates suggesting it costs insurers between $35 to $44 billion annually,” Sarzen said. “Emerging fraud-fighting techniques centered on data and analytics can enable insurers to identify fraud in real-time, allowing investigators to act more quickly and accurately. This proactive approach is essential for maintaining stability and driving…
The bill, H.F. No. 2752, defines key operational terms for P2P car-sharing services, clarifying the legal distinctions between car-sharing and traditional rental services. Unlike traditional car rentals, peer-to-peer car-sharing allows private vehicle owners to rent their cars to others via online platforms. By excluding P2P car-sharing agreements from the legal definition of vehicle rentals, the…
The sandbox’s entry requirements remain stringent. Applicants must submit a detailed technical and business plan, a $750 filing fee, demonstrate at least $25,000 in available funds, and provide extensive disclosures on financial backing and executive leadership. Crucially, innovations must offer consumer protections and pose “no unreasonable risk of consumer harm.” Source link
The owner of the business, German Portillo, expressed shock and disbelief in an interview with local media. A longtime Lake Wales resident and active community member, Portillo has led the Univista Insurance franchise for nearly eight years. He is also a pastor at Iglesia Bautista Nuevo Amanecer and operates a separate small business in satellite communications….
Now in its sixth year, the Global 100 list aims to spotlight insurance professionals who have played key roles in business development, operational leadership, industry advocacy, and innovation. The individuals selected have been recognized for contributing to their organizations’ performance, advancing industry knowledge, or addressing systemic challenges in the insurance sector. Source link
In an order issued March 20, Judge Henry T. Wingate of the US District Court for the Southern District of Mississippi denied motions to dismiss filed by PennyMac Loan Services, LLC and Caliber Home Loans, Inc. The ruling allows plaintiffs Ashley C. Guerdan and Catherine E. Guerdan to proceed with their lawsuit, which includes claims…
As part of its investigation, Plymouth Rock Home, through counsel John Leslie, requested that Mr. Billie provide financial records, tax returns, documentation of property improvements, and other materials. Between February 2021 and September 2022, the insurer made multiple follow-up requests. Mr. Billie, working with public adjuster John Cotter, submitted only a partial set of documents…
In American National Lloyds Ins. Co. v. Alexis, Civil Action No. 23-130, the insurer sought a declaratory judgment that it had no obligation to defend or indemnify Michelange Alexis and Real Estate Brothers, L.L.C., in a lawsuit filed in Berks County Court by Ernesto and Ana Rosa. The plaintiffs allege that Mr. Rosa suffered serious injuries…
Industry experts bring depth and focus to construction and claims management Source link
New exec brings global expertise in underwriting, claims, and digital innovation Source link
This includes cloud platforms such as AWS, Azure, and Google Cloud Platform; vulnerability scanners like Tenable, Qualys, and Rapid7 InsightVM; endpoint protection tools including CrowdStrike, SentinelOne, and Sophos; identity and access management systems such as Okta, Microsoft Entra, and Arnica; and compliance tools including Qualys Policy Compliance and Security Studio. Source link
New US automobile tariffs, along with additional proposed tariffs targeting key trading partners, could increase costs and introduce further volatility across property, auto, life, and health insurance lines, according to industry analysts. Source link
Currently, Nevada law classifies casualty insurance as coverage for vehicle insurance, liability insurance, workers’ compensation, and other forms of financial protection. A.B. 512 proposes adding legal expense insurance to this category, defining it as coverage that reimburses policyholders for specific legal services or legal expenses. However, it excludes fees paid to attorneys for overhead and…
“In times of economic uncertainty, having trusted insurance partners that are there to be with you through the good times and step in during the bad times is more important than ever,” said Graham Topol, co-founder and co-CEO of MGT Insurance. “We take our role very seriously — it’s more important for us to be…
“A decade ago, 10-year policies were common. Five years ago, five-year terms were easy to secure,” she said. “Now, many carriers limit policies to three years, or even just one year in some cases. This shift stems from growing uncertainty – insurers want the flexibility to reassess risks annually, accounting for changes in regulations, climate,…
“I think the challenge is how can you control that? Because you wouldn’t, as an insurance company, declare overnight that everybody is allowed to write software to change pricing models,” he said. As a result, the question for the market is how to make sure that this technology is pointing in the right direction, which…
