insurance buisness 1

Eleven events contributed to the March total, with four large-scale systems involving wind and hail accounting for approximately 80% of the losses Source link

In a decision issued April 10, 2025, the Oregon Supreme Court affirmed that Continental Casualty Company retains the right to seek contribution from another insurer for environmental cleanup defense costs it paid, even after the co-insurer entered into a settlement with the insured. The court’s ruling in Continental Casualty Co. v. Argonaut Insurance Co., 373…

Lockton names US industry practices leader Lockton, a privately held independent insurance brokerage, has appointed Chris DiLullo (pictured immediately above, left) as its first US industry practices leader. In this new role, DiLullo will be responsible for leading the company’s national strategy across key industries, including construction, healthcare, law firms, life sciences, real estate, energy…

An Arkansas court affirms that faulty workmanship during installation qualifies as a covered “occurrence” Source link

The Hilb Group, based in Richmond, Virginia, is a privately held insurance brokerage firm founded in 2009. The company provides property and casualty insurance, employee benefits, and retirement services to businesses and individuals across the United States. It employs over 2,200 people and operates more than 125 offices nationwide. Source link

Troubled health insurer sees revenue increase from a year ago Source link

It is making big strides in climate risk tech Source link

In this roundtable special of Insurance Business TV, join Tokio Marine HCC Cyber and Professional Lines Group’s  Dan Crane and Eugene Eychis as they examine the impact of AI on cyber insurance. They look at the ways in which AI is currently enhancing risk assessment, strategies to mitigate its risks and the emerging technologies they…

“We want to make sure that if you’re putting on that new roof, and if you’re doing wildfire mitigation, that it is meaningful mitigation that meets the science-based standards,” Walker said, referring to guidelines from the Insurance Institute for Business & Home Safety. Source link

Centering the broker, not cutting them out Rather than cutting brokers out of the process, as some startups do, it’s important to center them. Brokers aren’t obstacles to be bypassed – they’re the primary users. Automation, then, isn’t about replacing people but handling the repetitive tasks that slow them down. Source link

It is making big moves in climate risk tech Source link

Sletteland, who assumes the role of regional executive for New York Metro, most recently served as a broker relationship leader. Also based in the New York area, she joined Zurich in 2008 following roles at Marsh McLennan, Priceline, and Citigroup. In her new role, she will be responsible for overseeing Zurich’s engagement in one of…

While Lemonade continues to expand its auto insurance business, it has also reported significant growth in its marketing investments. In the fourth quarter of 2024, the company’s sales and marketing expenses climbed to $36 million, up from $13.4 million in the same period the previous year. “Alongside this acceleration, we remained laser focused on marketing…

This announcement follows a series of recent ALKEME acquisitions amid significant economic developments in early 2025. On April 2, President Donald Trump announced sweeping tariffs on imports, leading to a global stock market downturn. The Dow Jones Industrial Average experienced a historic 4,000-point drop over two days, marking the largest decline since the 2020 pandemic-induced…

Insurance broking unit Marsh posted standout results with revenue of $3.5 billion, up 15% overall and 5% on an underlying basis. Regional growth was led by Latin America (+8% underlying), followed by EMEA (+6%), Asia Pacific (+4%), and the US/Canada (+4%).  Source link

Industry veterans take on new roles amid shifting market needs Source link

As the largest health insurer in the United States, UnitedHealth Group is under increasing pressure to address criticism about care denials, rising costs, and a complex system that many patients say is difficult to navigate. Its new CEO is now responding publicly, pledging improvements in how it communicates with patients and streamlines access to care. …

Exclusively available through Amwins brokers, the program offers follow-form excess liability on a quota-share basis. It is written on A+ rated paper and structured to address growing demand for flexible, high-limit liability coverage. The offering is available nationwide and targets a wide industry spectrum.  Source link

Eligible states for the new endorsement include Texas, Illinois, Florida, New Jersey, and 38 others. Progressive expects Cargo Plus to reach 49 states by May 21, 2025, and achieve full nationwide availability by the end of the year, pending regulatory approval.   Source link

The updated database encompasses insured property assets with a total value of US$108 trillion, spread across 67 market portfolios in 21 countries. The countries include major markets such as the United Kingdom, Germany, the United States, and Japan. For the first time, SCS-related exposures have been broken down to include both property and motor hull…

“We earned core income of $443 million, or $1.91 per diluted share, as outstanding underlying results, strong net favorable prior year reserve development and higher investment income more than offset catastrophe losses,” said Alan Schnitzer, Travelers’ chairman and CEO. Source link

The downstream energy sector saw limited major losses in 2024, encouraging insurers to reduce rates. However, potential losses in the first quarter of 2025 have already reached $1.5 billion, exceeding the prior year’s total, introducing potential volatility. Source link

The downstream energy sector saw limited major losses in 2024, encouraging insurers to reduce rates. However, potential losses in the first quarter of 2025 have already reached $1.5 billion, exceeding the prior year’s total, introducing potential volatility. Source link

“For instance, travel insurance can be offered during a flight booking, motor insurance when selling a car, or gadget insurance with electronic goods. In fact, this model allows insurers to reach customers who were otherwise not seeking to take out a policy,” Benito said. Source link

For wholesale brokers like Dennis Fox (pictured), who specializes in healthcare placements at Brown & Riding, the squeeze is palpable. A decade into the business, he’s juggling rising costs, evolving retailer relationships, and shrinking carrier appetite. From youth nonprofits to long-term care, placements are becoming more unpredictable. Source link

Not every broker wants to run toward hard-to-place risks. In a tough market, where even standard lines like auto liability require creativity and layered placements, the wholesale distribution market has experienced significant growth, driven by increasing demand for specialized insurance solutions. However, this rising demand has not simplified deal closures, particularly for new businesses. Source…

The NFIP, once the only option for homeowners and businesses, has long been criticized for its low coverage limits and lack of flexibility. With rising flood risks due to climate change and evolving property needs, consumers have sought alternatives that address losses beyond structural damage – like business interruption and building upgrades. Source link

Chris Walters (pictured above), CEO of Inszone Insurance Services, said the acquisition aligns with the company’s strategy to strengthen its presence in Kansas. He said the Munson team brings extensive experience in farm and agricultural insurance, and that Inszone plans to build on the agency’s existing foundation. Source link

Rebrand boosts client access to experts across risk, benefits, and specialty areas Source link

Which words or phrases are most despised by office workers? Source link