Gallagher announced it has acquired Köberich Financial Lines. Terms of the transaction were not disclosed. Köberich specializes in D&O insurance, plus other financial lines products including cyber, warranties & indemnities, professional indemnity and crime insurance. Köberich has a team of …
Hong Kong workers say they would need a 6% raise to give up hybrid work arrangements, a dilemma that’s expected to prompt more companies to reduce space and dampen office rents, according to a survey. More than half of respondents …
FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program’s financial risk to the private reinsurance market as part of its 2024 reinsurance placement. The 2024 reinsurance placement covers portions of NFIP losses above …
OpenAI and its financial backer Microsoft were sued on Friday in Manhattan federal court by a pair of nonfiction authors who say the companies misused their work to train the artificial-intelligence models behind the popular chatbot ChatGPT and other AI-based …
Affinity Advisors, providers of a digital platform for securing specialty insurance, has named a former Aon and Marsh McLennan executive to be chief revenue officer. Andrew Suesserman, who spent 12 years with Marsh and Aon, will move into his new …
The North Carolina Rate Bureau, basing its calculations on input from 197 property insurance companies, has asked for a 42% average increase in homeowners insurance rates, to take effect Aug. 1. The rate bureau’s double-digit requests in recent years have …
Florida’s wind-mitigation grant program for homeowners has proven to be so popular that the governor has proposed another $107 million for it this year, and some experts have called home fortification the only way to significantly reduce insurance losses from …
A New York-based apparel company is entitled to its claim for the full $600,000 limit on its marine cargo insurance policy because the policy was ambiguous as to whether a warehouse fire that destroyed its goods was at an approved …
A New York City subway train derailed last Thursday after colliding with another train at low speed, leaving more than 20 people with minor injuries and causing major service disruptions across Manhattan during the afternoon rush hour, authorities said. At …
The board of Mutual Insurance Company of Arizona declared a dividend for its policyholders totaling $15 million. The funds are to be allocated among current members, with plans for it tol be distributed in February 2024. The dividend represents roughly …
