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Viewpoint: California Needs Regulatory Reform and Quick Rate Review to Halt Personal Lines Meltdown
The regulation of property/casualty insurance in California has been an epic failure—look no further than the state of the market for personal automobile and homeowners insurance. California Insurance Commissioner Ricardo Lara’s automobile insurance rate moratorium and refusal to process rate …
POSTED JUNE 02, 2023 5:50 PM |
Markets/Coverages: Evertas to Offer Largest Crypto Insurance Policy With Coverage Up to $420M
London-based Arch Insurance International has authorized cryptocurrency insurer Evertas to increase the coverage limit for a single policy to $420 million for custodians or exchanges in what the U.S firm said is the highest in the industry. The move is …
POSTED JUNE 02, 2023 4:57 PM |
People Moves: Alliant Adds McGrath to Chicago Team; UFG Appoints Allsup as Assistant VP
Alliant Insurance Services Names Matt McGrath as Vice President, Americas Division Matt McGrath has joined Alliant Insurance Services’ Alliant Americas division as vice president. Based in Chicago, McGrath will focus on designing, implementing, and managing comprehensive risk and insurance solutions …
POSTED JUNE 02, 2023 4:49 PM |
Texas Lawmakers Allocated $2 Billion to Increase Water Supply, Reduce Flooding
During this year’s legislative session, Texas lawmakers allocated part of the state’s historic $32.7 billion surplus toward better protecting the state against droughts and floods — an investment that followed one of the hottest summers on record and the worst …
POSTED JUNE 02, 2023 4:37 PM |
MGA Volante Global Launches Branch in Singapore, Managed by Asta
Volante Global, a multi-class, multi-territory international MGA and Lloyd’s syndicate, has launched Volante Singapore, according to Asta, the Lloyd’s third-party managing agent. “The launch of Volante Singapore is an early milestone in our own expansion into Asia. The region represents …
POSTED JUNE 02, 2023 4:31 PM |
People Moves: Stephens Insurance Adds Bettina to Houston Team as P&C SVP
Stephens Insurance Adds Bettina to Houston Team as P&C SVP Stephens Insurance, LLC, an affiliate of Stephens Inc., has hired Chris Bettina as a senior vice president within the property and casualty practice. Bettina brings nearly 15 years of experience …
POSTED JUNE 02, 2023 4:20 PM |
Rise in Fires, Ukraine-Russia Fallout Top Concerns for Shipping Industry: Allianz Report
The maritime sector experienced fewer total losses of vessels in 2022 while the number of shipping incidents remained relatively consistent, according to a recent report. Allianz Global Corporate & Specialty (AGCS) published its Safety and Shipping Review 2023, an annual …
POSTED JUNE 02, 2023 4:10 PM |
Renault Customers to Lodge Criminal Complaint in France Over Faulty Engines
Renault could face prosecution in France over faulty engines as a group of customers plans to lodge a criminal complaint against the carmaker next week, the group’s lawyer said on Friday. “We are going to file a complaint on Monday …
POSTED JUNE 02, 2023 3:55 PM |
Report: Medical Professional Liability Headwinds Continue Despite Improvement in 2022
A recent report by the Medical Professional Liability Association shows the medical professional liability insurance sector’s combined ratio improved from 108.1% in 2021 to 102.2% in 2022 – marking the industry’s best performance since 2017. However, the industry still has …
POSTED JUNE 02, 2023 3:20 PM |
Gallagher Keeps Expanding with HR Firm Acquisitions
Arthur J. Gallagher & Co. has acquired Nashville-based Bernard Benefits, an employee benefits brokerage serving clients in Tennessee, Indiana and Texas. Bernard, which focuses on small businesses, is a subsidiary of Bernard Health. Bernard’s Brian Tolbert, Matt Kleymeyer and the …
POSTED JUNE 02, 2023 2:31 PM |
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