insurance buisness 1

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…

A key part of the underwriting process—and a major factor in determining property eligibility and pricing—is a community’s ISO Public Protection Class (PPC). The PPC program, developed by ISO, evaluates a community’s fire protection capabilities, including emergency communications, fire department readiness, water supply, and community risk reduction efforts. Source link

Mercury Insurance, headquartered in Los Angeles, offers personal auto, homeowners, and renters insurance in several states through independent agents. The firm outlined several ways uninsured drivers impact insurance rates. When more drivers are uninsured, insurance companies face increased risk because they must cover more accident-related costs. As a result, insurers raise rates for all policyholders,…

Experienced executives take on new roles to drive innovation and tackle challenges Source link

In 2022, the most recent year for which data is available, US households spent an average of $1,127 per vehicle on auto insurance, representing 1.51% of the median household income of $74,580. This marked a slight increase from the previous year. State-by-state variations were significant, with North Dakota having the lowest expenditure share at 0.93%,…

Thousands of new positions opening up in new service centers Source link

Health insurance sector: UnitedHealth Group, Elevance Health, Cigna, Humana, and Centene dominate the U.S. health insurance space, with a strong presence in Medicare, Medicaid, and group health plans. Despite challenges, such as rising healthcare costs and regulatory pressures, these companies are well-positioned to sustain growth, especially as the aging population drives demand for healthcare services….

Kashif Syed, HGIC’s chief information and transformation officer, said that the cloud-based system allows the company to focus internal resources on functions that provide value to employees, brokers, and policyholders while Guidewire handles system maintenance and updates. Source link

Proposal targets uninsured rates with capped pricing and PIP opt-out options Source link

Carrier to prioritize growth areas after substantial net loss Source link

Catastrophic events during the prior year had a substantial impact, with the company paying out approximately $11.4 billion in catastrophe-related claims during the year. For instance, in mid-July 2024, severe convective storms across several states resulted in about 14,000 claims filed with State Farm. Source link

Stronger indemnity planning will be key Source link

“Interestingly, that may increase the number of third-party lawsuits,” he said. “There is, in the US, the ability for citizens to do a citizens’ action against a company that’s not in compliance with the regulations, and one of the criteria is the regulators aren’t doing anything. Then, the citizens can bring a lawsuit and pay…

Her career began as an actuary at AIG before moving into underwriting, where she held senior positions, including president of American Home Assurance Company. She later joined Praetorian Insurance Company, which was acquired by QBE, where she served as president of QBE Specialty and chief actuary for QBE’s Americas division. Before TMHCC, she was president…

Meanwhile, Ardonagh’s 2024 Sustainability Report outlined progress on environmental, social and governance (ESG) initiatives, including over $7 million raised by its registered charity, ACT, and key milestones in its community grant and colleague match-funding programmes. Source link

Her career began as an actuary at AIG before moving into underwriting, where she held senior positions, including president of American Home Assurance Company. She later joined Praetorian Insurance Company, which was acquired by QBE, where she served as president of QBE Specialty and chief actuary for QBE’s Americas division. Before TMHCC, she was president…

Meanwhile, Ardonagh’s 2024 Sustainability Report outlined progress on environmental, social and governance (ESG) initiatives, including over $7 million raised by its registered charity, ACT, and key milestones in its community grant and colleague match-funding programmes. Source link

The January wildfires destroyed or damaged thousands of homes and businesses across Los Angeles County, forcing evacuations and causing billions in losses. The Palisades Fire spread rapidly through hillside neighborhoods, while the Eaton Fire scorched dry terrain in Pasadena, fanned by strong winds. Officials estimate total damages at around $4 billion, with nearly half of…

CAA alleged that UTA engaged in a deliberate scheme to hire away its clients and employees. The lawsuit included claims such as inducing breach of contract, intentional interference with contractual and economic relationships, aiding and abetting breach of fiduciary duty, and conspiracy—each requiring proof of intentional wrongdoing. The Ninth Circuit held that these claims, by…

Case information Case: State Farm Mutual Automobile Insurance Company v. Spine Centers of America, Inc., et al. Court: U.S. District Court for the Middle District of Florida Case No.: 8:24-cv-1064-CEH-AEP Judge: Charlene Edwards Honeywell Date of ruling: March 21, 2025 Plaintiff: State Farm Mutual Automobile Insurance Company Defendants: Spine Centers of America, Robert Cagno, Lester Morales…

Jeffrey Goldberg, editor-in-chief of The Atlantic, revealed on Monday that he got added to a group chat on the application Signal where top US officials, including National Security Advisor Michael Waltz and Vice President JD Vance, discussed plans to bomb Houthi targets across Yemen earlier this month.  Source link

Lawyer created fake trucking company to file a lawsuit Source link

The case arose after a June 2021 hailstorm damaged 86 townhomes in the Players Club Villas community. The association, which held a commercial property policy with QBE, submitted a claim days after the storm. While QBE acknowledged coverage, it issued a payment of only $1,587.05, citing actual cash value calculations and applying a 5% per-building…

Coverage under the AdWrap program is available throughout all production stages, from pre-production through the final airdate, covering live-action, digital, print, and social media content. Policies offered through AdWrap cover property, casualty, and contingent risks. Source link