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ARCHIVED NEWS

POLY ANNOUNCES SECOND QUARTER FISCAL YEAR 2020 FINANCIAL RESULTS

Nov 05, 2019

Plantronics, Inc. (NYSE: PLT) ("Poly" or the "Company") today announced second quarter fiscal year 2020 results for the period ending September 30, 2019. Highlights of the second quarter include the following: “During the second quarter, we made further progress reducing ou...

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POLY INTRODUCES POLY STUDIO X SERIES FOR MICROSOFT TEAMS AT MICROSOFT IGNITE 2019

Nov 04, 2019

Plantronics, Inc. (“Poly” – formerly Plantronics and Polycom) (NYSE: PLT), a global communications company that powers meaningful human connection and collaboration, will introduce video conferencing devices with a built-in Microsoft Teams experience at Microsoft Ignite 2019. The P...

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US JUDGE BLOCKS TRUMP'S HEALTH INSURANCE RULE FOR IMMIGRANTS

Nov 04, 2019

A federal judge in OR on Saturday placed a temporary hold on President Donald Trump's rule that would require immigrants to prove they have health insurance, OR the ability to pay medical bills, before they can attain visas. Through a temporary restraining order, Judge Michael Simon of the U.S. ...

HILLTOP MONITOR
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GUIDEWIRE LAUNCHES UPDATE FOR INSURANCEPLATFORM

Nov 04, 2019

Guidewire Software, a software provider for the property-casualty space, has announced the 2019.2 release of the Guidewire InsurancePlatform. The latest release extends support for insurers to deliver an omnichannel digital service to customers and agents, the company said. “InsurancePlatform ...

INSURANCE BUSINESS MAGAZINE
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WILDFIRE COSTS MAY CAUSE MORE HOMEOWNERS IN CALIFORNIA TO LOSE THEIR INSURANCE

Nov 04, 2019

The increasing prevalence of wildfires in parts of California is causing insurers to re-consider covering homes and businesses. This might mean that more homeowners could lose their insurance in the coming months, brokers and underwriters have told the Wall Street Journal. Insurers are already reeli...

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AMAZON TREND SEES TECH COMPANIES MOVE INSURANCE SERVICES IN-HOUSE

Nov 01, 2019

An emerging trend sees tech companies becoming in-house insurers for their workforces – a strategy that analysts say should be concerning for traditional insurance companies. Amazon recently became the latest member of Big Tech to bypass traditional insurers by trialling an in-house insurance ...

INSURANCE BUSINESS AMERICA
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WILLIS TOWERS WATSON MAKES TWO ASIAN APPOINTMENTS

Nov 01, 2019

Willis Towers Watson (WTW) has made two appointments in Asia – David Hill as regional director of risk and analytics for Southeast Asia in the corporate risk & broking business and Eva Liu as head of health & benefits, Hong Kong. According to a statement from WTW, Hill will lead the co...

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KYOBO LIFE INSURANCE ROLLS OUT AI-BASED UNDERWRITING SYSTEM

Oct 31, 2019

Kyobo Life Insurance announced on October 30 that its AI-based underwriting system, known as Best Analysis and Rapid Outcome (BARO), is now fully operational. The system, according to a Korea Times report, provides real-time services to the insurer’s sales consultants and customers. Combined w...

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UK-BASED INSURTECH INZURA EXPANDS IN ASIA

Oct 31, 2019

Inzura, an insurance technology firm based in the UK, has opened new offices in Thailand and Singapore, alongside the hiring of Nicholas Lee (pictured) as business development director for Asia, based in Singapore. According to a statement from Inzura, this expansion will enable the company to take ...

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AXIS CAPITAL ANNOUNCES 'DISAPPOINTING' QUARTER WITH US$33 MILLION OPERATING LOSS

Oct 30, 2019

Another Q3 earnings report is in, and the news is not good. AXIS Capital Holdings has delivered a net income of US$28 million for the quarter, compared to US$43 million in the same quarter in 2018. The company also reported an operating loss for Q3 2019 of US$33 million, while in the same period las...

INSURANCE BUSINESS AMERICA
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GREAT EASTERN ACHIEVES MILESTONE IN AGENT CERTIFICATION

Oct 30, 2019

Great Eastern has announced that 168 of its financial representatives have been certified by the Financial Services Managers Association (FSMA) and Institute of Banking and Finance (IBF), and subsequently honoured these agents at a graduation ceremony held at CHIJMES on October 25. According to a st...

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MARSH & MCLENNAN SHARES THIRD QUARTER FINANCIAL RESULTS

Oct 29, 2019

Marsh & McLennan Companies, Inc. has announced third quarter (Q3) revenue of approximately US$3.97 billion (about SG$5.4 billion), a 13% increase compared to the same quarter in 2018. The increase comes just five months after the firm completed its US$5.6 billion acquisition of Jardine Lloyd Tho...

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TRENDING NEWS

BEAZLEY INTRODUCES SMALL BUSINESS LIFE SCIENCES INSURANCE

Dec 06, 2019

Beazley has launched a new coverage aimed at small businesses in the life sciences industry. The Beazley BioSecure policy offers customized and flexible insurance protection against a range of exposures in the pharma, biotech, and medical device sectors. A release said that the policy builds on the ...

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QBE RELEASES REPORT ON GROWING INSURTECH SPACE

Dec 05, 2019

Investment in the insurtech space continues to grow. Investment in the space was just $140 million in 2011; by 2018, it had grown to $4.9 billion. As insurtech continues to expand, it is increasingly important for the industry to stay abreast of key trends, according to a new report from QBE North A...

INSURANCE BUSINESS MAGAZINE
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LLOYD'S LAUNCHES GROUND-BREAKING SPACE INSURANCE POLICY

Dec 04, 2019

Lloyd’s of London is going into orbit with its latest insurance launch, announcing that it will be releasing a space insurance policy with the aim of entering a growing industry that could help send its profits to the moon. The policy will be available through Lloyd’s Under the Lift Spac...

INSURANCE BUSINESS MAGAZINE
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UNITEDHEALTH'S EARNINGS PROJECTION FALLS SHORT OF ANALYSTS' ESTIMATES

Dec 03, 2019

Major health insurer UnitedHealth Group has revealed its adjusted earnings forecast for 2020 – but the midpoint estimate fell short of analysts’ projections. The company revealed that it expects 2020 earnings between $16.25 and $16.55 per share. By comparison, analysts pegged UnitedHealt...

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CHAUCER TAPS INDUSTRY VETERAN FOR US GENERAL LIABILITY BUSINESS

Dec 03, 2019

Specialty reinsurance company Chaucer has announced the appointment of Colm Sheedy (pictured) as class underwriter to work on the company’s US general liability account which focuses on large wholesale facultative businesses. Sheedy will work with Joe Murphy, senior class underwriter, to suppo...

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HORIZON POLICYHOLDERS TO GET LEAK SENSORS

Dec 03, 2019

With Association of British Insurers data showing escape of water claims made up nearly a third (30%) of all domestic household claims in 2018, Horizon (UW) Limited has decided to address the issue by partnering with smart-home specialist Hive. Horizon, which underwrites on behalf of a consortium of...

INSURANCE BUSINESS MAGAZINE
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PENNSYLVANIA INSURANCE DEPARTMENT WARNS CONSUMERS OF INSURANCE SALES ROBOCALLS

Dec 02, 2019

Consumers in Pennsylvania are being warned about receiving suspicious insurance sales calls, particularly the robocall kind. The Pennsylvania Insurance Department has issued an advisory due to the increase of robocalls around the open enrollment period. According to state insurance commissioner Jess...

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ARCH CAPITAL CLOSES ACQUISITION OF BARBICAN GROUP HOLDINGS

Dec 02, 2019

Arch Capital Group has completed its acquisition of Barbican Group Holdings, which includes Barbican Managing Agency Limited, Lloyd’s Syndicate 1955, Castel Underwriting Agencies Limited, and other associated entities. Following close of the transaction, Barbican will be consolidated into Arch...

POLICY NEWS, INSURANCE NEWS
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CVS HEALTH TO BUY ILLINOIS INSURANCE UNIT

Dec 02, 2019

Centene is selling its Illinois Medicaid and Medicare Advantage business lines to facilitate its more than $15 billion purchase of WellCare Health Plans. CVS Health has agreed to acquire IlliniCare Health Plan, St. Louis-based Centene said today. Financial terms were not disclosed, but the impact to...

CRAIN COMMUNICATIONS, INC
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PATRIOT GROWTH INSURANCE SERVICES ACQUIRES FL-BASED SHAPIRO INSURANCE GROUP

Nov 29, 2019

National insurance agency Patriot Growth Insurance Services has acquired Shapiro Insurance Group (SIG) in Jacksonville, FL. A release said that the partnership with SIG marks Patriot’s entry into the Florida marketplace while significantly strengthening its P&C insurance capabilities. Foun...

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KPMG: THE 'ONE-SIZE-FITS-ALL' APPROACH TO INSURANCE NO LONGER WORKS

Nov 29, 2019

To better serve millennials, insurance companies in Canada should not only be willing to transform their business approaches, but also capable of utilizing big data, a new report from KPMG suggests. According to KPMG’s new report, “Insurance frontiers: Here to horizon,” 86% of chie...

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GALLAGHER TO ACQUIRE 100% STAKE IN CAPSICUM RE

Nov 28, 2019

Arthur J. Gallagher & Co. (Gallagher) has agreed and signed head of terms for a deal that will see the global brokerage take 100% ownership of Capsicum Reinsurance Brokers LLP (Capsicum Re), a full-service international reinsurance broker. Capsicum Re was founded by Grahame Chilton and Rupert Sw...

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SPOTLIGHT

Blockchain Protocol for Digital Insurance

Aigang is a Blockchain Protocol for Digital Insurance. It enables insurance marketplaces for IoT (Internet of Things) devices that are fully automated due to the application of smart contracts. Such marketplaces behave as decentralized platforms allowing to invest in insurance and claim profits from

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Liquor Liability Insurance Vs. Brewery/Vineyard/Distillery Insurance

blog article

Both the popularity and number of craft breweries, vineyards, wineries, and distilleries are on the rise in the U.S. However, these types of businesses can have complicated insurance needs. Any establ...
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Insurance Industry and Cloud Computing

blog article

Cloud Based Solutions have improved and even transformed many industries over the past few years. The hallmarks of any decent cloud service include flexibility, versatility and cost savings. The benef...
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Events

NAVIGATING THE ACA AND SHORT-TERM HEALTH INSURANCE FOR FLEXIBLE WORKERS

December 10-10, 2019

FlexJobs is thrilled to partner with the experts at Assurance to host two highly informative events on health insurance for flexible workers. During these free webinars, Assurance will discuss the Affordable Care Act and its open enrollment period (happening now through December 15th, 2019 for 2020 ...

HORIZONTAL VS. VERTICAL EXHAUSTION OF INSURANCE: PRIORITY OF COVERAGE AND SETTLEMENT FOR BELOW POLICY LIMITS

December 11-11, 2019

This CLE webinar will provide insurance counsel with a review of essential issues in horizontal and vertical insurance, the interrelationship between the liability of the primary carrier and the excess insurer, and best practices to resolve priority of coverage disputes. Insurance counsel face chall...

FINANCIAL & INSURANCE CONFERENCE

December 09-10, 2019

Financial & Insurance Conference Professionals Strategic Leaders Event is an opportunity for senior professionals to network and learn from one another in a unique roundtable discussion format. This event is intended for the most senior management professional within a company's meeting plan...

SIRIUSDECISIONS 2019 TECHNOLOGY EXCHANGE

December 09-11, 2019

The drive for growth never ceases for b-to-b organizations, and more than ever technology is at the centre of enabling that progress. Gone are the days however when a disparate, disconnected set of platforms strewn across sales, marketing an product can serve the organization effectively. An aligned...