People Moves: Miller Promotes Nagle to Head of Miller Europe, Succeeding Holloway; Markel Taps AIG’s Eastwood as Sr. Cyber U/W
This edition of International People Moves details appointments at the insurance broker Miller and the insurer Markel. A summary of these new hires follows here. Miller Promotes Nagle to Head of Miller Europe, Succeeding Holloway Miller, the London-based independent specialist …
Markets/Coverages: AEGIS London-Led Lloyd’s Consortium Launches $25M Miner Rescue Insurance Cover
The Lloyd’s insurance market’s only product writing cover for the rescue of miners trapped underground has more than doubled its available cover from $10 million to $25 million with a launch of a new consortium led by AEGIS London. AEGIS …
Geopolitical Conflict Could Cost Global Economy $14.5 Trillion Over 5 Years: Lloyd’s
The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains, according to a report published by Lloyd’s, …
World’s Rivers Faced Driest Year in 30 Years in 2023: UN Weather Agency
The U.N. weather agency is reporting that 2023 was the driest year in more than three decades for the world’s rivers, as the record-hot year underpinned a drying up of water flows and contributed to prolonged droughts in some places. …
Munich Re Specialty to Enter Spanish Insurance Market
Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory …
Lloyd’s of London Must Stop Supporting Fossil Fuel Expansion, NGO Says
The Lloyd’s of London market is undermining climate action and should impose binding rules to prevent insurers supporting fossil fuel expansion, NGO Reclaim Finance said on Wednesday. Some European insurers, including Generali and Zurich, have imposed restrictions on underwriting for …
GSK Agrees to Settle About 80,000 Zantac Lawsuits for Up to $2.2B
GSK has agreed to pay up to $2.2 billion to settle most lawsuits in U.S. state courts claiming that a discontinued version of the heartburn drug Zantac caused cancer, the company announced on Wednesday. The agreement with 10 plaintiffs’ law …
Florida CFO Bars Insurers From Altering Adjusters’ Reports Without Explanation
Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar actions in Hurricane Milton claims. “Any move …
With Back-to-Back Storms, Florida Now Facing Delays in Claims Adjusting
With Hurricane Milton now expected to produce several hundred thousand wind-damage claims and with the storm coming so soon on the heels of Hurricane Helene, industry leaders are bracing for significant delays in claims adjusting. “We’re competing with Helene,” said …
Firefighters Still on Site More Than Week After Incinerator Trash Fire
It’s going to take about two weeks to remove smoldering debris from a Maine town’s trash incinerator after a fire burned in the waste for a week, officials said Tuesday. Firefighters have been stationed continuously at the trash incinerator, which …
Amwins and Floodbase Launch Flood Insurance Program for California Municipalities
Amwins and Floodbase have launched a municipal flood insurance program designed to insure California municipalities against previously uncovered losses due to atmospheric river flooding. The flood program closes the insurance gap with policy payouts that automatically scale with the magnitude …
EPA Proposes $4.2M Settlement Related to 2019 Explosion at Philadelphia Refinery
The U.S. Environmental Protection Agency has reached a tentative $4.2 settlement with a firm that owned and operated a major East Coast refinery that was shuttered after an explosion and fire in 2019. The deal with Philadelphia Energy Solutions was …
Critical Locked Gate Overlooked in Investigation of Maui Fire Evacuation
The state attorney general’s latest report on the deadly 2023 Lahaina wildfire flagged various locked gates that blocked people trying to flee as flaws in Maui’s evacuation planning. Yet a padlocked gate where the largest cluster of Lahaina wildfire fatalities …
People Moves: Coleman to Succeed Mudge as WCIRB President and CEO
The Workers’ Compensation Insurance Rating Bureau of California governing committee selected Andrea Coleman, WCIRB executive vice president and chief operating officer, as the organization’s new president and CEO. Coleman’s promotion will take effect February 1, 2025. She is succeeding President …
Marriott Settles With States for $52M Over 2018 Data Breach at Starwood
Marriott International has agreed to settle with the Federal Trade Commission and 50 state attorneys general over a series of data breaches at a guest-reservation system subsidiary. According to multiple statements from the states, Marriott will pay $52 million to …
Court Reviews Civil Rights Lawsuit Alleging Environmental Racism in Louisiana Parish
NEW ORLEANS (AP) — A federal appellate court is reviewing a civil rights lawsuit alleging a south Louisiana parish engaged in racist land-use policies to place polluting industries in majority-Black communities. The Fifth U.S. Circuit Court of Appeals in New …
How Texas Weakened Its Own Air Pollution Monitoring Team
When disaster affects the sprawling industrial complexes of Texas, the state’s environmental authority often posts pictures online of its white vans patrolling public streets, verifying the local air is safe to breathe. The Texas Commission on Environmental Quality calls this …
Utilities’ Extreme Plan to Stop Wildfires: Shut Off the Power
A growing number of utilities are resorting to an extreme measure to prevent their equipment from sparking catastrophic wildfires: turning off the power. Electric companies serving about 24 million homes and businesses across the fire-prone US West now have plans …
Hub Acquires Missouri’s AIG Agency
Hub International Limited (Hub) announced that it has acquired the assets of AIG Agency Inc. (d/b/a Associated Insurance Group). Terms of the transaction were not disclosed. Located in Maryland Heights, Missouri, Associated Insurance Group is an independent insurance agency providing …
No Sovereign Immunity for Virginia City or Truck Driver In-Between Garbage Pick-Ups
The Virginia Court of Appeals has ruled that a trial court erred in finding that a garbage truck driver and the city of Chesapeake were shielded by sovereign immunity for their role in an accident caused by the truck driver …
Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Suscribirse a Fuente de noticias Insurance Journal
Comunicados de prensa más recientes
Gran Caimán, Islas Caimán, 24 de junio de 2020. El CCRIF SPC realizó un pago de US$203.136 al Gobierno de Belice por su póliza de seguro paramétrico de exceso de lluvia después de tres días de fuertes lluvias durante las tormentas tropicales Amanda y Cristóbal. Amanda fue un ciclón tropical que se originó en el Océano Pacífico y provocó lluvias que afectaron a Belice el 30 de mayo y luego se debilitaron.
Gran Caimán, Islas Caimán, 22 de junio de 2020. El CCRIF pagó al Gobierno de Guatemala aproximadamente US$3,6 millones bajo su póliza de seguro paramétrico de exceso de lluvia (XSR) por nueve días de lluvia que ocurrieron durante las tormentas tropicales Amanda y Cristóbal. La póliza se activó por las lluvias que comenzaron el 31 de mayo.
Gran Caimán, Islas Caimán, 16 de junio de 2020. El CCRIF SPC se complace en anunciar que los países miembros del Consejo de Ministros de Hacienda o Finanzas de Centroamérica, Panamá y República Dominicana (COSEFIN) recibirán beneficios especiales en las pólizas de seguro paramétrico del CCRIF SPC para el año de póliza 2020/21 como apoyo a la respuesta regional a la pandemia de COVID-19.
Gran Caimán, Islas Caimán, 2 de junio de 2020.
Gran Caimán, Islas Caimán, 5 de diciembre de 2019.