The recent outage at Amazon Web Services again raised questions about systemic loss.
The renewal rights of Everest’s retail commercial business total about $2 billion.
- Update: Catastrophe Bond Investors Told to Brace for Jamaica Payout
- AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B
- ‘Catastrophic’ Hack Underscores Public Defender Security Gaps
- Jamaica Catastrophe Bondholders Headed for ‘Full’ Trigger Event
- Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24
- Generali, Natixis Owner Likely to Drop Asset Management Deal, Sources Say
- Massachusetts Survey Identifies Safety Issues for Assisted Living Residences
- Virginia’s Lawsuit Against TikTok Gets Green Light to Proceed in State Court
- Officer Faces Misconduct Charge for ATM, Pizza Stops Instead of Murder Investigation
- Exonerated Trader Sues UBS for $400 Million Over Libor Accusations
- Employee Accused of Stealing 47 Vehicles From Car Rental Site at Airport
- Trump Denies Disaster Declarations for Maryland, Vermont and Illinois
- ‘Catastrophic’ Hack Underscores Public Defender Security Gaps
- Wyoming to Be Hub for US Rare Earth, Critical Mineral Stockpile
- Researchers in California Are Mapping Rural Heat to Protect Farmworkers
- California Commissioner’s Regulation to Prevent Insurance Crises From Climate Disasters, Cyber Threats, AI
- Transportation Secretary May Pull $160M From California Over Noncitizen Truck Licenses
- ExxonMobil Sues California, Claims New Green Laws Violate Speech
- Kentucky Supreme Court Weighs in on Three Workers’ Comp Cases
- Security First the Latest in Florida to Announce Home Insurance Rate Cut
- Truck Driver in Fatal Crash Repeatedly Failed Driving Tests, Florida AG’s Office Says
- Chemical Board Investigators Digging Into Fatal Tennessee Explosives Plant Blast
- Florida’s Universal P&C Reports Strong Profits, Policy Growth for Q3
- After $7M in Local Incentives, Alfa Launches Renovation of New HQ in Montgomery
- Oklahoma Insurance Department’s Fire Classifications Save Homeowners $22M
- Texas Sues Tylenol Makers J&J and Kenvue, Alleging They Hid Drug’s Autism Risks
- AM Best Assigns Credit Rating to Texas’ Dallas Specialty
- Jury Awards $40M to Family of Louisiana Man Who Died in Privately-Run Jail
- Best Agency to Work For – South Central Region: Higginbotham
- Trump Plan Would Open Almost All Coast to Offshore Drilling
- EPIC Acquires Illinois’ Price Insurance
- People Moves: Evans Jr. Elected President of Big I Illinois
- AM Best Revises Outlooks to Stable for Members of Illinois’ Pekin Insurance Group
- Intruders Release Mink From Iowa Farm in What Trade Group Calls ‘Terrorist Act’
- South Dakota Company Recalls Pork Jerky That May Contain Metal Wire
- Best Agency to Work For – Midwest Region: DSP Insurance Services
National News
- ‘Catastrophic’ Hack Underscores Public Defender Security Gaps
- Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24
- Mondelez Defeats Greenwashing Lawsuit Over ‘Climate Neutral’ Clif Bar Claim
- People Moves: Tassone Jr. Promoted to AM Specialty CEO; Canopius Names Leftwich US Head of Strategy; FM Hires Erbig as CFO
- The Hartford Q3 Net Income Up 41%
- J&J Talc Cancer Suits Rise 17% After Failed Settlement Push
- Wright Flood’s Buy of Poulton Associates to Create Largest Flood Insurance Provider
- Brown & Brown Reports Strong Q3 Revenue Growth of 35.4%
- Federal Judge Decertifies Apple App Store Class Action
East News
- Massachusetts Survey Identifies Safety Issues for Assisted Living Residences
- Virginia’s Lawsuit Against TikTok Gets Green Light to Proceed in State Court
- Officer Faces Misconduct Charge for ATM, Pizza Stops Instead of Murder Investigation
- Exonerated Trader Sues UBS for $400 Million Over Libor Accusations
- Employee Accused of Stealing 47 Vehicles From Car Rental Site at Airport
- Trump Denies Disaster Declarations for Maryland, Vermont and Illinois
Midwest News
- EPIC Acquires Illinois’ Price Insurance
- People Moves: Evans Jr. Elected President of Big I Illinois
- AM Best Revises Outlooks to Stable for Members of Illinois’ Pekin Insurance Group
- Intruders Release Mink From Iowa Farm in What Trade Group Calls ‘Terrorist Act’
- South Dakota Company Recalls Pork Jerky That May Contain Metal Wire
- Best Agency to Work For – Midwest Region: DSP Insurance Services
Robbers on Oct 20 broke into the Louvre and stole objects worth about 88 million euros ($102 million).
Texas / South Central News
- Oklahoma Insurance Department’s Fire Classifications Save Homeowners $22M
- Texas Sues Tylenol Makers J&J and Kenvue, Alleging They Hid Drug’s Autism Risks
- AM Best Assigns Credit Rating to Texas’ Dallas Specialty
- Jury Awards $40M to Family of Louisiana Man Who Died in Privately-Run Jail
- Best Agency to Work For – South Central Region: Higginbotham
- Trump Plan Would Open Almost All Coast to Offshore Drilling
Southeast News
- Kentucky Supreme Court Weighs in on Three Workers’ Comp Cases
- Security First the Latest in Florida to Announce Home Insurance Rate Cut
- Truck Driver in Fatal Crash Repeatedly Failed Driving Tests, Florida AG’s Office Says
- Chemical Board Investigators Digging Into Fatal Tennessee Explosives Plant Blast
- Florida’s Universal P&C Reports Strong Profits, Policy Growth for Q3
- After $7M in Local Incentives, Alfa Launches Renovation of New HQ in Montgomery
The rise of catastrophe bonds may now be eroding the market share of reinsurers.
West News
- ‘Catastrophic’ Hack Underscores Public Defender Security Gaps
- Wyoming to Be Hub for US Rare Earth, Critical Mineral Stockpile
- Researchers in California Are Mapping Rural Heat to Protect Farmworkers
- California Commissioner’s Regulation to Prevent Insurance Crises From Climate Disasters, Cyber Threats, AI
- Transportation Secretary May Pull $160M From California Over Noncitizen Truck Licenses
- ExxonMobil Sues California, Claims New Green Laws Violate Speech
International & Reinsurance News
- UN Sees World’s Emissions Falling 10% by 2035, Far Short of 60% Goal
- Generali, Natixis Owner Likely to Drop Asset Management Deal, Sources Say
- Europe’s Top Rights Court Rejects Climate Challenge Against Norway’s Oil
- Tokyo Metropolitan Government Issues Climate Resilience Bond
- Reuters: Iran, Russia and the New Zealand Insurer That Kept Sanctioned Oil Flowing
- Swedish PE Firm EQT Offers to Buy Australian Insurance Broker AUB in $3.4B Deal
- Jamaica Catastrophe Bondholders Headed for ‘Full’ Trigger Event
- Update: Hurricane Melissa Bears Down on Jamaica as Category 5 Storm
- Ryan Specialty Agrees to Acquire Canadian MGU Stewart Specialty Risk Underwriting
- Ex-PIMCO Executive Plans to Launch Europe’s First ETF Based on Catastrophe Bonds
Insurance Journal Blogs and Columns
- How to Use Content Marketing to Grow Your Insurance Agency
- Applied Acquires Cytora: Supercharging the Digital Roundtrip of Insurance with AI
- Why Ethics CE Matters: Strengthening Professional Standards in Insurance
- A Lost Art: The Submission Letter
- Death and Insurance (Not Taxes), Part 2
- World Acquires Indiana’s ACB
Quote of Note
"The coronavirus outbreak has reduced risk in some areas while, at the same time, changing and heightening it in others. The wider changes in society and industry brought about and accelerated by the pandemic are likely to have a long-term impact on claims patterns and loss trends in the corporate insurance sector."
More Quotes Thomas Sepp, chief claims officer, Allianz Global Corporate & Specialty
Insurance Top Gainers/Losers
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Goosehead Insurance, Inc | GSHD | $73.99 | +1.36% |
| Slide Insurance Holdings, Inc. | SLDE | $15.54 | +0.97% |
| Neptune Insurance Holdings Inc. | NP | $25.69 | +0.75% |
| ProAssurance Corporation | PRA | $24.09 | -0.04% |
| Kingsway Financial Services Inc. | KFS | $14.65 | -0.34% |
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Brown & Brown, Inc. | BRO | $82.38 | -6.13% |
| Arthur J. Gallagher & Co. | AJG | $267.50 | -4.12% |
| Bowhead Specialty Holdings Inc. | BOW | $24.01 | -3.96% |
| Root, Inc. | ROOT | $78.19 | -3.74% |
| Cincinnati Financial Corporation | CINF | $151.75 | -3.74% |