Birmingham-based CRC Group, a wholesale and specialty insurance broker, announced new hires in underwriting and company leadership. JV Franks, with some 25 years in the insurance brokerage business, was named underwriting team leader, based in New Orleans. Prior to joining …
People Moves: CRC Names New Underwriting Leaders and Senior VP Read More »
This edition of International People Moves details appointments at American International Group and Willis. A summary of these new hires follows here. AIG Taps Colombo From Swiss Re as CEO, Latin America and Caribbean American International Group (AIG) announced that …
Tampa-based Slide Insurance announced it has finalized a $250 million catastrophe bond through Purple Re Ltd., expanding Slide’s hurricane protection in Florida and South Carolina. “Securing cat bonds over the past couple of years and building our reinsurance tower has …
Slide Secures $250M Cat Bond as Hurricane Season Looms Read More »
Hedge fund Fermat Capital Management expects the market for catastrophe bonds to grow 20% this year, as a product based on disasters gains ground in a world increasingly shaped by extreme weather, population density and inflation. The market “has reached …
Hedge Fund Fermat Sees 20% Surge in Catastrophe Bond Market Read More »
Coinbase Global Inc. said hackers bribed contractors or employees outside the US to steal sensitive customer data and demanded a $20 million ransom, in one of the most high-profile security breaches of a crypto trading platform. The largest US crypto …
Coinbase Says Bribed Workers Leaked Data to Hacker Seeking $20 Million in Ransom Read More »
Workers’ compensation remained a healthy and profitable line in 2024 but claims severity grew with an increase of 6% for medical claim severity and 6% for indemnity claim severity. That’s according to the National Council on Compensation Insurance (NCCI)’s annual …
Workers’ Comp Premiums Fall 3% in 2024; Combined Ratio Holds at 86: NCCI Read More »
Xiaomi Corp. electric vehicle sales in China have taken a hit since March after a fatal highway accident and consumer unhappiness around the marketing of one version of its car. Orders for Xiaomi’s SU7 sedan plunged to around 36,000 units …
Xiaomi EV Sales Fall After Deadly Crash, False Advertising Claims Read More »
French President Emmanuel Macron said on Thursday that getting European regulation to be more in sync with the United States and the United Kingdom was one of his priorities for the banking and insurance sectors. Speaking at JPMorgan’s markets conference …
‘Synchronization’ of Europe’s Financial Rules With US, UK Is a Priority: France’s Macron Read More »
With combined ratios for personal and commercial lines landing only 0.4 points apart last year, the property/casualty insurance industry’s aggregate 2024 combined ratio was 96.5—marking the lowest figure since 2013, a new report shows. Fine-tuning a slightly higher industry aggregate …
2024 P/C Insurance Combined Ratio: Best in More Than a Decade Read More »
It’s not just a few Florida-domiciled insurance carriers that have allegedly altered field adjusters’ reports on property damage in recent years. It’s also major national insurers, including Allstate and State Farm, adjusters and policyholders alleged at a U.S. Senate hearing …
State Farm VP Apologizes to Homeowner While Allstate Gets Grilled at Senate Hearing Read More »
