[ad_1] In comparison, Chubb achieved record net income of $9.27 billion for FY2024, or $22.70 per share, and core operating income of $9.20 billion, or $22.51 per share. Consolidated net premiums written were $51.5 billion, up 8.7%, with global P&C up 9.6% and life insurance up 15.7%. The P&C combined ratio for the year was…

[ad_1] Income before taxes was $538.6 million, down from $574.1 million a year ago. After accounting for $121.3 million in income tax and $222,000 in noncontrolling interests, net income attributable to common shareholders was $417.6 million. The company reported 399.8 million diluted shares outstanding for the quarter, compared to 405.8 million in the same period…

[ad_1] In comparison, Chubb achieved record net income of US$9.27 billion for FY2024, or US$22.70 per share, and core operating income of US$9.20 billion, or US$22.51 per share. Consolidated net premiums written were US$51.5 billion, up 8.7%, with global P&C up 9.6% and life insurance up 15.7%. The P&C combined ratio for the year was…

[ad_1] The second division, Programs and Solutions, will cover a range of business lines, including personal lines, Bermuda operations, surety, workers’ compensation, small commercial packages, program and alliance offerings, and Insurtech. Alex Martin, formerly president of Markel Specialty, will lead the division. Martin has been with the company for 19 years and has held positions…

[ad_1] “A key difference between an action in tort and an action in contract is that in the latter, the standard of performance is set by the defendants’ promises, rather than imposed by law,” the court wrote. The indemnity obligation in this case, the court found, was one CHA “freely and intelligently chose to be…

[ad_1] On appeal, Universal also challenged the homeowners’ procedural handling of the waiver issue, arguing they failed to properly plead it. The Fourth District agreed, holding that waiver must be explicitly raised in response to an insurer’s affirmative defenses. The Yagers, it found, did not do so until five months after Universal’s answer, and even…

[ad_1] Headquartered in Richmond, Virginia, the Hilb Group is a national insurance brokerage and advisory firm offering property and casualty, as well as employee benefits services. It is a portfolio company of The Carlyle Group, a global investment firm. Hilb Group’s strategy combines organic growth with acquisition activity, supported by centralized resources across its expanding…

[ad_1] The offering is powered by Insureon, HUB’s digital marketplace for small business insurance. The platform provides clients with access to coverage options from over 30 insurance carriers, including general liability, commercial auto, property, business owners, cyber, and errors and omissions. HUB Private Client Risk Advisors also assist in aligning business insurance with clients’ broader…

[ad_1] Firm to switch its focus to home turf and Europe [ad_2] Source link

[ad_1] Company to switch its focus to home turf and Europe [ad_2] Source link

[ad_1] As cybercrime grows more sophisticated, Patrick Costello makes the case for MGAs who prioritize people over products [ad_2] Source link

[ad_1] Under the proposed legislation, the annual DFS notice may include the department’s disaster hotline, key contact details, and a link to the department’s online disaster and flood resource center. Additionally, it must feature a clear statement highlighting that standard homeowners and renters insurance policies do not typically cover flood-related damages, underscoring the necessity of…

[ad_1] The lawsuits come amid growing instability in the state’s property insurance market, where several insurers have scaled back offerings or exited the market altogether, citing increased wildfire risk, rising claims costs, and regulatory constraints. [ad_2] Source link

[ad_1] Deal expands niche market capabilities [ad_2] Source link

[ad_1] The company offers products in general liability, commercial property, and garage segments, utilizing its proprietary Western World Integrated Platform (WWIP) to facilitate underwriting, rating, quoting, binding, and policy issuance for wholesale brokers and their clients. [ad_2] Source link

[ad_1] Previously, the Office of Superintendent of Insurance (OSI) was limited in its capacity to compel information before filing a notice of contemplated action. Under the amended Section 59A-2-8 of the New Mexico Statutes, the superintendent can now issue a civil investigative subpoena during the early stages of an investigation. This tool can be used…

[ad_1] A newly introduced bill in the Illinois General Assembly aims to significantly alter the regulatory oversight of the title insurance industry. Senate Bill 2648, introduced by Sen. Bill Cunningham, proposes shifting enforcement authority from the Department of Financial and Professional Regulation (IDFPR) to the Department of Insurance (DOI). This strategic move could streamline insurance…

[ad_1] Using their supply chain data, businesses can model tariff exposure based on where goods come from, how much is spent, and where products are sold. Mitigation strategies, such as “rewiring” your supply chain or redesigning products to reduce exposure from specific components, can then be explored. [ad_2] Source link

[ad_1] Using their supply chain data, businesses can model tariff exposure based on where goods come from, how much is spent, and where products are sold. Mitigation strategies, such as “rewiring” your supply chain or redesigning products to reduce exposure from specific components, can then be explored. [ad_2] Source link

[ad_1] Earth Day reminds us of the profound impact our choices have on the environment. For businesses, this responsibility extends beyond daily operations to encompass the broader community and ecosystem.  Your decisions regarding practices like waste disposal, chemical storage, and emissions can influence the well-being of the environment around you and your company’s sustainability and…

[ad_1] Sankaran has more than 30 years of experience in global operations and transformation roles across several industries, including insurance, healthcare, finance, procurement, and human resources. He has held senior positions at Wipro, Accenture, GeBBS Healthcare Solutions, WNS, GE Capital, and Pfizer, managing global teams and client portfolios in various market conditions. [ad_2] Source link

[ad_1] Sankaran has more than 30 years of experience in global operations and transformation roles across several industries, including insurance, healthcare, finance, procurement, and human resources. He has held senior positions at Wipro, Accenture, GeBBS Healthcare Solutions, WNS, GE Capital, and Pfizer, managing global teams and client portfolios in various market conditions. [ad_2] Source link

[ad_1] Key hires have more than 40 years of experience combined [ad_2] Source link

[ad_1] Founded in 1879, Starkweather & Shepley is one of the largest independent insurance agencies in Rhode Island. With 14 offices in Rhode Island, Massachusetts, Connecticut and Florida, the company offers business insurance, personal insurance, employee benefits and risk management services. [ad_2] Source link

[ad_1] Meanwhile, Rick Donatini, a veteran in the employee benefits field, has been named vice president, employee benefits, bringing decades of experience to the role. Together, the three new hires bring nearly 70 years of combined experience to Liberty, strengthening the company’s ability to provide comprehensive benefit solutions to clients. [ad_2] Source link

[ad_1] HB 1088, introduced by the Industry, Business and Labor Committee at the request of the Insurance Commissioner, underscores North Dakota’s enhanced commitment to consumer protection and industry accountability. Garnering significant bipartisan support, the bill passed with overwhelming majorities in both chambers: a 76-13 vote in the House and a decisive 45-1 vote in the…

[ad_1] MS&AD was established in 2010 through the integration of Mitsui Sumitomo Insurance Group Holdings, Aioi Insurance Co., and Nissay Dowa General Insurance Co. The group operates across several business segments, including domestic and international non-life insurance, life insurance, financial services, and risk-related services. [ad_2] Source link

[ad_1] A significant new bill introduced in the New York State Assembly could fundamentally change compensation structures within the title insurance industry. Assembly Bill A07866, sponsored by Assemblymember Carrie Woerner, sets out clear, strict guidelines on how title insurance agents can be compensated by insurers, emphasizing transparency, fairness, and accountability in agent-insurer dealings. [ad_2] Source…

[ad_1] A newly signed bill in New Mexico has introduced sweeping restrictions on the disclosure of sensitive personal information by state agency employees, in a move that is likely to have compliance implications for insurers, contractors, and government service providers. The “Nondisclosure of Sensitive Personal Information Act,” passed under Senate Bill 36 (SB 36), will…

[ad_1] Competing visions spark new economic routes [ad_2] Source link