News Center
News – Insurance Journal
Re/Insurers Need a Data Strategy to Build Underwriting Transformation Programs
Years of low interest rates and burgeoning catastrophe losses have accelerated the hardening of the reinsurance market, as the January 2021 renewals clearly demonstrated, and moreover, the COVID-19 pandemic has worsened the “lower for longer” interest rate environment. Considering suboptimal …
POSTED OCTOBER 20, 2021 6:26 AM |
Banks Demanding Stricter Environmental Criteria When Financing Shipping Companies
Banks are demanding much stricter environmental criteria when financing shipping companies as investor pressure grows on the sector to accelerate going greener, according to Boston Consulting Group (BCG). Shipping, which transports about 90% of world trade, accounts for nearly 3% …
POSTED OCTOBER 20, 2021 6:00 AM |
People Moves: Sayata, Willis Towers Name New SE Directors
The insurtech Sayata, which provides software for the quote-bind-issue process for brokers and carriers, announced Lisa Sanders will serve as business development manager for the company’s Southeastern U.S. territory. Sanders, based in Atlanta, was previously a senior vice president at …
POSTED OCTOBER 20, 2021 5:48 AM |
Georgia Regulators Can’t Track Overdue Elevator Inspections
Elevators across Georgia may be long overdue for safety inspections, but regulators have no way to know, thanks to a poorly set up computer database and a system that relies on self-policing. The revelations came to light after an 18-year-old …
POSTED OCTOBER 20, 2021 5:46 AM |
Investment Company JAB to Acquire Majority Stake in UK Pet Insurer, Cardif Pinnacle
Global investment company JAB Holding Co. is acquiring a majority stake in UK pet insurer, Cardif Pinnacle. Cardif Pinnacle’s current parent company, BNP Paribas Cardif, will retain a significant minority interest in the insurer. The transaction is expected to close …
POSTED OCTOBER 20, 2021 5:45 AM |
Coverys Launches European Casualty MGA, AEC Europe
Coverys European Holdings (CEH), a leading underwriting vehicle that invests in speciality managing general agencies in Europe and the UK, announces the expansion of its AEC underwriting agency with the launch of AEC Europe in Barcelona. AEC Europe underwrites a …
POSTED OCTOBER 20, 2021 5:35 AM |
Lockton Launches Silent Cyber Property Solution for Businesses
Lockton, the privately-owned independent insurance broker, has launched its Silent Cyber Property Solution, a standalone policy that covers businesses against property damage and ensuing time element losses resulting from cyber-attacks or cyber terrorism. The broad-form policy is unique in the …
POSTED OCTOBER 20, 2021 5:30 AM |
BHSI Creates Global Network Across 170 Countries to Raise Multinational Capabilities
Berkshire Hathaway Specialty Insurance (BHSI) announced it has expanded its global network to encompass owned offices and network partners that can provide BHSI customers with locally admitted insurance policies in 170 countries worldwide. “We are very pleased to welcome so …
POSTED OCTOBER 20, 2021 5:30 AM |
Tokio Sues Warehouse; Says Pellets Improperly Stored, Causing Fire
Tokio Marine American Insurance has filed a lawsuit against the owners of a Georgia warehouse, where 50,000 tons of wood pellets caught fire in May and burned for days. Tokio had insured the biofuel pellets, and it alleges in the …
POSTED OCTOBER 20, 2021 5:16 AM |
3M Offers $98M to Settle Tennessee River ‘Forever’ Chemicals Claims
Industrial conglomerate 3M Co on Tuesday said it had agreed to pay about $98.4 million to settle claims that it contaminated the Tennessee River with toxic chemicals. 3M agreed to resolve a lawsuit by environmental group Tennessee Riverkeeper and a …
POSTED OCTOBER 20, 2021 5:00 AM |
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