ATLANTA (AP) — Georgia’s state Senate wants to boost spending on Hurricane Helene relief even more, including creating a grant program that could provide aid to individuals. The state Senate voted 55-1 last week to pass House Bill 67, which …
Chesapeake Employers’ Insurance Co. has filed for an 8% net rate decrease with the Maryland Insurance Administration (MIA) effective April 1, 2025. The nonprofit company, which is the state’s insurer of last resort, also announced its highest-ever policyholder dividend of …
After reporting underwriting losses of $13 billion in 2022 and $14 billion in 2023, State Farm recorded another underwriting loss for 2024—but narrowed it thanks to its auto insurance results. State Farm reported a 2024 net income of $5.3 billion …
Most insurance executives surveyed last year believe they have “an ethical obligation” to close the protection gap—and also believe that “lack of trust in the insurance industry” is a key barrier standing in the way. Economist Impact, a division of …
This edition of International People Moves details appointments at Price Forbes Re and AXA XL. A summary of these new hires follows here. Price Forbes Re (PF Re) announced the appointment of Sherman Power to the newly created role of …
Pool Re, Britain’s government-backed terrorism reinsurer, has completed placement of a new retrocession programme with more than 60 international reinsurers. The placement provides £2.75 billion ($3.5 billion) aggregate excess of loss cover, increased from £2.4 billion ($3.0 billion), with Hannover …
Japan is battling its worst wildfire in four decades, forcing thousands of people to flee amid some of the driest weather on record. At least one person has been killed since the blaze broke out Feb. 26 near the the …
South Korea tightened rules on carrying lithium batteries on planes from Saturday, highlighting a growing risk to flights worldwide from the batteries used in cellphones and e-cigarettes which can malfunction to produce smoke, fire or extreme heat. Last year three …
Optio Group, the London-based independent specialty MGA, announced it has acquired Norwegian-based MGA S Insurance AS (S Insurance) for an undisclosed sum, subject to regulatory approval. This acquisition follows Optio’s acquisitions of Netherlands and-Brussels based MGA Den Hartigh and Luxembourg-based …
The US Securities and Exchange Commission has kicked off the new year with a makeover, wiping clean its slate of crypto enforcement actions and turning what was once a hostile landscape for digital assets into a potential haven. In the …
