The appointments come amid broader leadership changes at Hamilton. In February, the company named Mike Thorp as head of space and Chris Golder as head of treaty. Thorp, who joined Hamilton in 2015, was instrumental in launching its space underwriting business. Golder, who came on board in 2023, has 16 years of experience in the…
Background and dispute over coverage Kaufman was hired by JM Family Enterprises to build a corporate campus in South Florida. The project included multiple office buildings, a dining hall, a parking garage, and a central energy plant. By October 2020, some of the structures were completed, and JM Family had begun using them. However, additional…
“We had greenwashing a couple of years ago, where companies claimed to be more sustainable or environmentally conscious than they really were,” Shah said. “Now, we’re seeing AI-washing – companies talking about their use of AI or their research into it in a way that doesn’t necessarily reflect reality.” Source link
Flood insurance is evolving, but the challenges remain steep – from educating homeowners on the true risks, to bridging gaps in coverage, to navigating the balance between private and public insurers. As the risks increase, the industry will have to adapt quickly. And for Templeton-Jones, that means one thing above all: “The education has to be…
Sensational media claims, as politicians blame insurers Source link
Demand rises as admitted insurers retreat Source link
California’s largest property insurer, State Farm General, has warned that it will not resume writing new policies in the state, even if regulators approve its proposed 22% rate increase. The statement, delivered in a letter to Ricardo Lara, the state’s insurance commissioner, underscores the growing crisis in California’s homeowners insurance market as insurers retreat in…
New CEO at NJM Insurance Carol Voorhees (pictured right), currently executive vice president and chief operating officer at NJM Insurance, has been appointed president and CEO. She will succeed Mitch Livingston, who will retire on July 31, 2025, after 19 years with the company. Source link
Meanwhile, Ranucci has 17 years of experience in insurance and previously served as head of North America lower middle market and as global chief underwriting officer for small business. He will oversee operations, including profit and loss management, field and home office underwriting, product development, pricing, portfolio management and analytics. Source link
Predecessor switched into group deputy CEO role earlier in the year Source link
The partnership also places Allianz in key markets, with France and Australia collectively contributing more than 10% of its operating profit in 2024. Since 2021, Allianz has supported the Olympic Movement, including the Paris 2024, Milano Cortina 2026, and LA 2028 Games. Source link
“This ruling upholds North Dakota’s right to protect and preserve its laws, regardless of who is violating them,” Godfread said in a statement. “My priority is to protect North Dakota consumers, and when a company is attempting to subvert our laws and undercut the state-based system of insurance regulation that has existed for the past…
After Rick Frechmann, Joleen Mayfield, and Brad Snitzer left its employment, AssuredPartners (AP) filed a lawsuit in December 2024 against EPIC and three former employees – alleging breach of contract, misappropriation of trade secrets, tortious interference, unjust enrichment, and breach of the duty of loyalty. AP claimed that after the defendants left the company, they…
Risks in emerging markets In the Democratic Republic of the Congo (DRC), ongoing insurgent violence continues to impact the country’s political, security, and economic outlook. The M23 insurgent group launched a major offensive in early 2025, capturing the provincial capitals of North Kivu and South Kivu, along with their airports. Source link
Generali’s adjusted net result rose to €3.77 billion, up from €3.58 billion the previous year, reflecting contributions from its diversified profit sources despite lower net realised gains. The overall net result stood at €3.72 billion, slightly lower than the previous year’s €3.75 billion, which included capital gains from asset disposals in 2023. Source link
What are the three phases of value? According to KPMG, the “enable” phase emphasizes building AI foundations by appointing responsible executives, creating AI strategies, identifying high-value use cases, increasing AI literacy, and ensuring regulatory alignment. This phase also involves launching AI pilots, utilizing cloud platforms, and leveraging pre-trained models with minimal customization. Source link
Wildfire and hurricane claims affect E&S business in California Source link
The senator argued that a moratorium would bring all stakeholders to the table to develop a model for addressing LTC insurance issues, which extend beyond Connecticut. The industry has faced significant challenges due to underwriting miscalculations in the 1990s and 2000s, rising medical costs, an aging population, and longer lifespans, according to state and federal…
The report, which reviewed various aspects of the carrier’s operations – including customer service, claims handling, internal audits, and information technology – found that Citizens needs to strengthen its processes to ensure policies adhere to statutory coverage limits. Source link
Cyber capacity expansion Capacity in the cyber insurance market has also expanded, making it easier to secure $5 million and $10 million limits for primary and excess coverage, RPS reports. While certain industries, such as public entities, education, and healthcare, still face capacity challenges, the ability to source higher limits has improved. RPS attributes this…
Loreto-Hays v. Herrera (2018), alleging sexual assault by Herrera while the plaintiff worked in a GAC store. Oberloh v. Giorgio Armani Corp. (2018), which included allegations that GAC ignored reports of Herrera sexually harassing multiple employees. Christin v. Herrera (2019), which involved five plaintiffs alleging a pattern of sexual harassment and assault by Herrera spanning…
For small restaurants, the margin for error is razor-thin. Small restaurants have always had plenty to worry about – fires in the kitchen, workplace injuries, liability claims, and the ever-present risk of a foodborne illness shutting them down overnight. Unlike large chains with corporate backing, independent restaurants don’t have the financial cushion to absorb major…
Meanwhile, Nicole Jones, who is chief administrative officer and general counsel, will expand her portfolio of responsibilities to include Cigna Group’s enterprise marketing division. This brings together marketing with other functions Jones already leads including public affairs, federal and state government affairs, legal and HR functions. Source link
They include a president for sales for the Americas and a chief technology officer Source link
Downgrades have fallen but upgrades are rising Source link
New bill aimed at insurers, others launched by AG Letitia James Source link
“Traditionally, investing assets on behalf of insurance companies was a relatively straightforward matter of matching assets and liabilities. Now, not only are insurers looking to invest in higher-yielding private asset assets, it also makes sense for them to invest more in equity or equity-like structures,” Zhu said, pointing to a recent investment in a “sidecar”…
Michael’s Fabrics, LLC, a Baltimore-based retailer specializing in high-end fabrics, purchased a business owners’ insurance policy from Donegal Mutual Insurance Company for the period covering December 16, 2022, to December 16, 2023. The policy, for which the company paid an annual premium of $4,765, included $3,364 for property coverage. Source link
Clean energy and the net-zero transition The transition to renewable energy sources – such as solar, wind, hydro, and geothermal – is fundamental to achieving net-zero emissions. This shift involves transforming energy production, distribution, storage, and consumption patterns. Source link
For the year ending December 31, 2024, Beazley achieved a record profit before tax of $1.423 billion, marking a 13% increase from the $1.254 billion recorded in 2023. This growth was underpinned by a 10% rise in insurance written premiums, totaling $6.164 billion, up from $5.601 billion in the previous year. Source link
