Markets/Coverages: Lloyd’s Announces 1st 144A Cat Bond on Its London Bridge Platform January 8, 2024 Lloyd’s, the re/insurance marketplace, announced that the first 144A catastrophe bond has been issued on its risk transformation platform London...
Russia Oil Tankers Are Doing Strange Things Since Ramp Up of US Sanctions January 8, 2024 By Sherry Su and Julian Lee There are growing signs that Russia’s oil flows might be facing disruption in the aftermath of a ramp up in...
Gallagher Acquires German Specialty Broker Köberich Financial Lines January 8, 2024 Gallagher announced it has acquired Köberich Financial Lines. Terms of the transaction were not disclosed. Köberich specializes in D&O insurance,...
Hong Kong Employees Demand 6% Raise to Work in Office Full Time January 8, 2024 By Shawna Kwan Hong Kong workers say they would need a 6% raise to give up hybrid work arrangements, a dilemma that’s expected...
FEMA Adds Nearly $620M to Reinsurance Program January 8, 2024 FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program’s financial risk to the...
Microsoft, OpenAI Hit With New Lawsuit by Authors Over AI Training January 8, 2024 By Blake Brittain OpenAI and its financial backer Microsoft were sued on Friday in Manhattan federal court by a pair of nonfiction authors...
Affinity Hires Revenue Chief, NC DOI Elevates Counsel to Chief Operating Officer January 8, 2024 Affinity Advisors, providers of a digital platform for securing specialty insurance, has named a former Aon and Marsh McLennan executive...
North Carolina Rate Bureau Wants 42% Hike in Residential Property Insurance Rates January 8, 2024 The North Carolina Rate Bureau, basing its calculations on input from 197 property insurance companies, has asked for a 42%...
Florida Bills Would Provide Millions in Flood Mitigation, Elevation Grants January 8, 2024 By Insurance Journal Staff Reports Florida’s wind-mitigation grant program for homeowners has proven to be so popular that the governor has proposed another $107 million...
Because ‘Location’ Is Ambiguous in Marine Cargo Policy, Travelers Must Pay Fire Loss January 8, 2024 A New York-based apparel company is entitled to its claim for the full $600,000 limit on its marine cargo insurance...