Insurance Journal

FEBRUARY 27, 2025

Tennessee-based Selectsys, an insurtech specializing in business process outsourcing for insurers, has acquired Expert Insured, an artificial intelligence-led insurance management system for wholesalers, carriers and managing general agents. With headquarters in Boston, Expert Insured also has …

Insurance 90

Insurance 90

Insurance Journal

FEBRUARY 5, 2025

Global commercial insurance rates fell 2% in the fourth quarter of 2024 following a 1% decline in Q3 2024 marking the second consecutive quarterly decrease following seven years of rising rates, according to the Global Insurance Market Index published …

Insurance 92

Insurance 92

Insurance Journal

FEBRUARY 4, 2025

The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insurance industry, with technology serving as a cornerstone for many of these operations. An AM Best survey of its …

Insurance 110

Insurance Technology 110

Insurance Journal

MARCH 26, 2025

Insurers are betting on a suite of new AI-driven techniques to better predict surging losses from climate-driven weather catastrophes ranging from unprecedented wildfires to hurricanes and floods. Less than three months into the year, natural disasters are already causing major …

Insurance 71

Insurance 71

Insurance Journal

MARCH 24, 2025

million in cash, as part of certain insurance settlements related to its aircraft which were blocked from leaving Russia after the country’s invasion of Ukraine. Aircraft lessor Air Lease Corp. said on Monday it has received $328.5 Before the invasion …

Insurance 78

Insurance 78

Insurance Journal

FEBRUARY 10, 2025

China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity buffers.

Insurance 81

Insurance 81

Insurance Journal

MARCH 13, 2025

Ahead of a decision from California’s insurance commissioner on a State Farm General request for emergency rate increases, company executives and representatives of a consumer group pled their opposing cases in letters to Commissioner Ricardo Lara. News outlets in California …

Insurance 71

Insurance 71

Insurance Journal

FEBRUARY 14, 2025

the international specialty insurer and reinsurer, announced it has received in-principle approval to launch Lloyd’s Syndicate 1984, which will commence underwriting in April 2025. Convex Group Ltd., Convex said it has worked with its advisers Gallagher Re and Asta, which …

Insurance 80

Insurance 80

Insurance Journal

MARCH 4, 2025

Global cyber insurance provider Coalition announced a new $30 million equity investment from Insurance Co., MSI), a member of MS&AD Insurance Group. The investment anchors a strategic partnership aimed at bringing what San Francisco-based Coalition calls its “Active Insurance” …

Insurance 64

Insurance 64

Insurance Journal

JANUARY 20, 2025

World Insurance Associates LLC acquired the business of Business Contractors Insurance Services in Santee, California. The firm provides insurance services to individuals and businesses. World Insurance Associates is headquartered in Iselin, N.J., … BCIS was founded more than 15 years ago.

Insurance 52

Insurance 52

Insurance Journal

MARCH 4, 2025

Specialist Risk Group (SRG), the London-based insurance intermediary, announce the acquisition of Brentacre Insurance, a specialist broker with deep expertise in providing insurance for modified and performance vehicles, subject to regulatory approval. Financial details of the transaction were not disclosed.

Insurance 59

Insurance 59

Insurance Journal

MARCH 18, 2025

Baloise Holding AG and Helvetia Holding AG have been exploring a possible combination that could create one of Switzerland’s largest insurers, according to people familiar with the matter. The companies have held on-and-off discussions in recent months about a potential …

Insurance 59

Insurance 59

Insurance Journal

MARCH 28, 2025

MS&AD Insurance Group Holdings Inc. announced it will merge two of its non-life insurance company subsidiaries Mitsui Sumitomo Insurance Co. and Aioi Nissay Dowa Insurance Co. The aim of the merger is to build a more robust …

Insurance 59

Insurance 59

Insurance Journal

FEBRUARY 7, 2025

This edition of International People Moves details appointments at Willis and Arch Insurance UK. A summary of these new hires follows here. Willis Promotes Easton to Global Head of ART and Head of Western Europe, Risk & Analytics Willis, a …

Insurance 94

Insurance 94

Insurance Journal

FEBRUARY 9, 2025

million fine and take action to improve claims handling and prevent balance billing for out-of-network treatment after a state Department of Insurance investigation detailed multiple allegations. UnitedHealthcare of North Carolina has agreed to pay a $3.4 “Patients receiving emergency room …

Insurance 66

Insurance 66

Insurance Journal

FEBRUARY 19, 2025

Howden, the London-based global insurance intermediary group, announced the acquisition of aviation specialists Forbes Insurance Ltd., and the acquisition of the book of business from Hill Aviation Insurance Services Ltd. Forbes Insurance … Financial details of the acquisitions were not disclosed.

Insurance 59

Insurance 59

Insurance Journal

JANUARY 15, 2025

California Insurance Commissioner Ricardo Lara expanded emergency insurance protections for Southern California homeowners, adding new ZIP Codes to those already under a mandatory one-year moratorium on insurance non-renewals and cancellations. The expanded order shields those within the perimeters or adjoining …

Insurance 126

Insurance 126

Insurance Journal

JANUARY 9, 2025

history, draining insurance coffers and threatening California’s massive state-sponsored insurance program. Losses from the fires “could push insurance markets over the … The conflagrations tearing across Los Angeles are on track to be among the most expensive wildfire disasters in U.S.

Insurance 126

Insurance 126

Insurance Journal

MARCH 6, 2025

tariffs on imports from Canada and Mexico, along with increased tariffs on China, will have a negative effect on the insurance industryparticularly impacting the U.S. Analysts at AM Best warned that the planned imposition of U.S. homeowners’ and auto lines …

Insurance 124

Insurance 124

Insurance Journal

MARCH 5, 2025

Australia’s largest property and casualty (P/C) insurers should be well placed to manage claims stemming from tropical cyclone Alfred, which could top A$2billion (US$1.3 billion), according to a report published by S&P Global Ratings. While the path and strength of …

Insurance 59

Insurance 59

Insurance Journal

MARCH 10, 2025

announced it has acquired the remaining shares of Philippines-based Philpacific Insurance Brokers & Managers Inc., Gallagher & Co. dba Philinsure, following a minority investment in the business. Terms of the transaction were not disclosed. Philinsure is a commercial …

Insurance 59

Insurance 59

Insurance Journal

MARCH 13, 2025

The collision of a cargo ship and a fuel tanker off the eastern coast of England in the North Sea is likely to hit multiple marine insurance policies, carrying an estimated combined insured value of between $50 million and $100 …

Insurance 52

Insurance 52

Insurance Journal

JANUARY 9, 2025

With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of destructive Los Angeles area blazes are sure to become clearerlikely pushing up billion-dollar-plus insured loss estimates put forth from fires …

Insurance 130

Insurance 130

Insurance Journal

JANUARY 30, 2025

Preliminary data show insurance companies have paid out more than $4 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes earlier this month. This week …

Insurance 128

Insurance 128

Insurance Journal

FEBRUARY 11, 2025

California Insurance Commissioner Ricardo Lara approved a California FAIR Plan request for a $1 billion assessment on admitted market insurers to cover claims from the Los Angeles wildfires. The FAIR Plan reported it has paid more than $914 million to …

Insurance 124

Insurance 124

Law Sites

APRIL 1, 2025

This assessment affirms that Lawmatics […]

Insurance 130

Insurance 130

Insurance Journal

FEBRUARY 9, 2025

Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half. After an unusually …

Insurance 100

Insurance 100

Insurance Journal

MARCH 20, 2025

Wall Street brokers have started selling insurers’ claims tied to Los Angeles’ deadly wildfires, which may trigger a payout from the utilities blamed for the destruction, according to people familiar with the matter. Investors are buying so-called subrogation claims, obtaining …

Insurance 111

Insurance 111

Insurance Journal

MARCH 12, 2025

A San Jose, California, body shop owner was charged with insurance fraud following an undercover sting operation that reportedly revealed he jacked an insurance damage estimate on a bait car. The operation, led by investigators from the Santa Clara County …

Insurance 104

Insurance 104

Insurance Journal

JANUARY 14, 2025

Wildfires that have ravaged swaths of Los Angeles could result in losses of as much as $30 billion for the insurance industry as the blazes rage on almost a week after they ignited. The new estimates from Wells Fargo & …

Insurance 131

Insurance 131

Insurance Journal

JANUARY 10, 2025

Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for both insurers and their reinsurers, with preliminary …

Insurance 131

Insurance 131

Insurance Journal

MARCH 31, 2025

According to a new report from the Insurance Research Council, auto insurance is more affordable now than at the start of the 21st century. The IRC, an affiliate of The Institutes, concluded that the average expenditure for auto insurance …

Insurance 97

Insurance 97

Insurance Journal

MARCH 9, 2025

The history of insurance dates back as far as 2000 BCE, when merchants and traders developed basic risk-sharing agreements to protect against financial losses from unpredictable events. At its most basic, insurance as a concept was merely a financial safety …

Insurance 102

Insurance 102

Insurance Journal

JANUARY 20, 2025

AP) Base rates for North Carolina homeowners’ insurance premiums will increase on average by about 15% by mid-2026 as part of a settlement reached by the state Insurance Department and the industry. The agreement announced Friday by …

Insurance 98

Insurance 98

Insurance Journal

MARCH 27, 2025

The Florida House subcommittee on insurance advanced two hotly debated bills Thursday, one supported by insurance agents but another that was opposed by agents and carriers alike. And another subcommittee voted to repeal the auto insurance personal injury protection law …

Insurance 98

Insurance Litigation 98

Insurance Journal

MARCH 27, 2025

Bank personal loans for up to $50,000 working directly with their insurance agent. In the latest expansion of the alliance between State Farm and U.S. Bank, State Farm customers can apply for U.S. The new offering joins the existing suite …

Insurance 100

Insurance 100

Insurance Journal

FEBRUARY 7, 2025

Allstate’s plan to correct its auto insurance business has “restored profitability back to target levels,” said the insurer’s head of personal insurance.

Insurance 96

Insurance 96