The Florida Office of Insurance Regulation (OIR) has approved statewide rate increases on 2018 personal and commercial property insurance rates for Citizens Property Insurance Corp. OIR approved a statewide increase of 6.6 percent for homeowners multi-peril policies, but held rates …
Exploding Samsung phones, error-prone Takata airbags, faulty GM vehicle ignition switches, failing Johnson & Johnson hip implants — multi-billion dollar product recalls have become more common over the past decade. According to one insurer, product-related risk is one of the …
Artificial intelligence startup Cytora has raised $5.9 million in new financing from investors including divisions of QBE’s venture capital arm and Starr Cos. QBE Ventures, Starr Global Holding, Cambridge Innovation Capital, Cambridge Enterprise and Parkwalk Advisors all participated in the …
On the heels of its recent successful crowdfunding raise, the app-based insurtech managing general agent Wrisk has made another major step forward, receiving full authorization from the UK’s Financial Conduct Authority. At the same time being formally admitted into the …
Lynam Insurance Agency, a full-service, independent insurance agency based in Bar Harbor, Maine, has hired John Jagger as an insurance agent and agency manager. Jagger started his insurance sales career with Liberty Mutual Insurance. In his new role, he will …
Swiss Re has agreed to purchase 1.1 million life insurance policies from UK insurer Legal & General Group (L&G) for £650 million ($873.6 million). These policies will be managed by ReAssure, Swiss Re’s closed book life consolidator within the Swiss …
Allied World Assurance Co. Holdings announced that Iain MacLeod has been appointed senior vice president, Country Manager, Australia. He will report to Michael Garrison, president, Asia Pacific. “Australia is a key market in the region, and Iain’s appointment will help …
Pool Re and Cranfield University announced the appointment of Professor Andrew Silke as the professor of Terrorism Risk Management and Resilience at Cranfield University. This is a new position that will be co-funded by Pool Re and Cranfield University for …
The Federal Emergency Management Agency (FEMA) is seeking to recover the full $1.042 billion of its reinsurance coverage to help pay the federal flood insurance program’s losses from Hurricane Harvey. Those paid losses exceeded the minimum threshold for the NFIP’s …
Lockton’s Southeast team has appointed Cheryl Jennings as the new Southeast Commercial Insurance Department (CID) practice leader. Jennings joins Lockton after a 35-year career with Marsh, Chubb, Hartford and most recently Wells Fargo Insurance Services. In addition to her 25-year …
