insurance buisness 1

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

Improved premium retention contrasts with high catastrophe burden Source link

Who’s raising the bar in insurance networks and alliances? Source link

market trends   premium trends  premiums by insurer  leading brokerages by premiums  leading carriers by premiums  surplus premiums by sector  Homeowners drive record growth in personal lines premiums and transactions  In 2024, premiums for the surplus lines sector totaled $19.1 billion, up from $16.6 billion in 2023. The increase…

More than a policy: Cyber insurance as infrastructure  Today’s attacks are faster, stealthier, and increasingly powered by AI-generated content and malware. SMEs, often lacking in-house IT resources, need more than a payout – they need a partner. “Cyber insurance is not just insurance. It’s so much more than insurance,” Kocsondy said. “It’s an entire protective…

The big brokerages, including Aon, Marsh, Lockton and WTW, have these offerings. They can help deal with a very broad range of challenges, all relevant to a firm’s risk management and insurance costs. The objective, say these global brokers, is a healthier and more engaged and productive workforce. Source link

In the US, operating DPW declined 3%, mainly due to the non-renewal of a large account. The region’s combined ratio improved slightly to 86.8%, helped by rate momentum across most lines. In the UK and Ireland, operating DPW fell 4% as portfolio remediation efforts continued. The combined ratio in that segment rose to 97.6%, influenced…

Manulife segments in Q1 2025 Asia core earnings rose 7%, supported by higher business volumes, improved new business impact, and favorable claims experience, though partially offset by strengthened ECL provisions. Global WAM posted a 24% increase in core earnings, driven by higher net fee income, favorable market conditions, performance fees, and expense discipline. Source link

Senate Bill 7732, introduced on May 2, 2025, aims to amend Section 6408 of the New York Insurance Law. Officially titled the Deed Theft: Bank and Lender Accountability Act, the bill introduces a new subsection (e) that would prevent any title insurance company organized or qualified under the article from paying claims to a lender…