The reinsurance industry has shown significant improvements in operating performance in recent years. Despite facing substantial insured natural catastrophe losses globally, reinsurers achieved robust earnings growth in 2023 and 2024 exceeding their cost of capital. This is largely attributed to …
Viewpoint: Global Reinsurers Stand Strong Amid Investment Volatility, Natural Disasters Read More »
No place is more vulnerable to hurricanes in the 50 U.S. states than the Florida Keys. The chain of islands celebrated by singer Jimmy Buffett in his odes to tropical escapism is surrounded by water, jutting out 120 miles southwesterly …
Emergency Management Director for Florida Keys Braces for Hurricane Season Read More »
A lawsuit filed by the parent company of Florida-based Trident Reciprocal Exchange charges that the insurer’s former CEO and co-founder secretly funneled more than $400,000 to her and her husband’s accounting firm for computer services that turned out to be …
Lawsuit Says Former Trident Exchange CEO Was ‘Self-Dealing’ on IT Work Read More »
Canadian property and casualty insurer Definity Financial’s $2.4 billion purchase of Travelers Cos.’ Canadian business could spur a wave of consolidation in Canada’s insurance sector, its CEO said. The deal announced Tuesday will establish Definity as the fourth-largest property and …
Definity’s Travelers Canada Deal Could Prompt Wave of Consolidation, CEO Says Read More »
Hawaii’s governor signed legislation this week that boosts a tax imposed on hotel room and vacation rental stays in order to raise money to address eroding shorelines, wildfires and other consequences of climate change. The signing, which comes nearly two …
Hawaii Governor Signs Hotel Tax Bill to Help With Climate Change Through Mitigation Read More »
The federal Occupational Safety and Health Administration (OSHA) has reached a settlement agreement with a New Jersey commercial bakery where an employee suffered partial finger amputations in 2023. The company, Valenti’s Bakery, has agreed to pay a $180,000 penalty and …
OSHA Settles With New Jersey Bakery Where Finger Amputations Occurred Read More »
Homeowners in California and Oregon in high-risk wildfire areas can earn discounts on insurance premiums through a new certification program to take mitigation steps to reduce risk. Mercury Insurance partnered with the Insurance Institute for Business and Home Safety to …
Certification Enables California, Oregon Homeowners to Earn Premium Discounts Read More »
