Tensions between Generali’s management, Mediobanca, and the billionaire investors have been further heightened this year over the insurer’s agreement with French banking group BPCE to merge their investment units, aiming to create Europe’s second-largest asset manager. Some Generali board members, backed by Caltagirone, have opposed the deal.
Jon Ward, APCIA’s department vice president of public affairs, emphasized the industry’s commitment to assisting policyholders, stating, “When disaster strikes, insurers’ overwhelming priority is to help their customers rebuild and restore their property.” Source link
A search for solutions With the legislation in limbo, lawmakers have turned to a task force model, aiming to bring all stakeholders to the table – including the Department of Insurance, DCFS, insurers, legal advocates, and child welfare organizations. The group is expected to begin meeting within 30 days of all appointments and must submit…
The most recent short-term extension, passed in December 2024, is set to expire at midnight on March 14 unless Congress passes this legislation or another extension through the government funding resolution. The House of Representatives approved the continuing resolution on March 11, but the Senate had not yet voted on the measure. Source link
As we move into 2025, employers in New York will need to stay on top of several new compliance changes that either recently went into effect or will be going into effect later this year. From new obligations under the Clean Slate Act to updates on COVID-19 sick leave, expanding protections for pregnant employees, strengthened…
Insurify projects average auto premiums could rise 19% in 2025, up from 5% before the tariffs were factored in. Of that increase, 7% is attributed to the latest global tariffs, 4% to steel and aluminum duties, and 3% to North American trade impacts. The benchmark is reinforced by the COVID-19 pandemic, when replacement costs for…
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…
