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    GROWTH OF AGGREGATORS HAS CHANGED INSURANCE FRAUD DETECTION

    May 24, 2019

    Remember in old-school police films, where the detective would be trying to solve a difficult case, and it would cut to a wall where there would be evidence linked together with red string and pins?
    It’s hard to imagine, but that is how it used to be done, and is still done, when invest...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=18421842

    CFC UNVEILS NEW CYBER INSURANCE PLATFORM

    May 24, 2019

    Cutting-edge is how CFC Underwriting describes its new cyber insurance platform for brokers.The London-headquartered specialist insurance provider, which has been in the cyber market since 1999, has introduced a new quote-and-bind portal aimed at ‘revolutionising’ how brokers arrange cyb...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=18431843

    AUTO INSURANCE DEAL FINALLY REACHED ‘IN CONCEPT’

    May 24, 2019

    Gov. Gretchen Whitmer and top Republicans in the Legislature announced a tentative deal this morning on a no-fault auto insurance reform after weeks of private negotiations.According to the governor, the deal guarantees rate relief for every Michigan driver; provides a choice in coverage levels; est...

    MICHIGANADVANCE
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    https://Policy.report/news-article.aspx?ID=18441844

    MONEY-SAVING STRATEGIES FOR BUYING TRAVEL INSURANCE

    May 22, 2019

    If you're planning a summer vacation, thinking about what could go wrong is probably the last thing you want to do.But travel insurance could come in handy if your trip is canceled or interrupted due to a medical emergency, a natural disaster, or another unforeseen event. And deciding whether yo...

    CONSUMERREPORTS
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    https://Policy.report/news-article.aspx?ID=18351835

    EMPLOYEE CHARGED WITH STEALING $900K FROM NEW JERSEY INSURANCE BROKER

    May 22, 2019

    According to documents filed in this case and statements made in court, from 2008 through October 2015, McGough allegedly made numerous fraudulent accounting entries to steal funds that her employer – identified as “Victim-Company 1” in the complaint – collected as insurance ...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=18281828

    AGCS BOOSTS ENVIRONMENTAL COVERAGE WITH RESPONSE SERVICES

    May 22, 2019

    Allianz Global Corporate & Specialty SE (AGCS) is now offering expanded emergency response services to complement its environmental impairment liability (EIL) coverage.The specialty insurer has established strategic partnerships with GM Consultant (for global clients) and HETI (US and Canada) to...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=18291829

    GRUMPY CAT’S OWNER FACES INCOME LOSS RISK WITHOUT SOCIAL MEDIA INSURANCE

    May 22, 2019

    Grumpy Cat’s owner faces income loss risk without social media insurance
    May 22, 2019 Julie Campbell

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    In the absence of coverage for animal influencers, ...

    LIVEINSURANCENEWS
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    https://Policy.report/news-article.aspx?ID=18301830

    NEW HEALTHCARE INSURANCE CONCEPT HELPS INSURED AND UNINSURED

    May 21, 2019

    ATLANTA, May 21, 2019 /PRNewswire/ -- As a surgeon in suburban Atlanta, Dr. Ned Armstrong has been a healthcare provider for decades.  He has witnessed the ever increasing cost of healthcare and healthcare insurance with its dramatic impact on the insured, the under-insured and the uninsured: h...

    PRNEWSWIRE
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    https://Policy.report/news-article.aspx?ID=18341834

    PROFITABLE STRATEGIC REPORT ON GLOBAL HEALTH INSURANCE MARKET BY 2025:- WELLPOINT INC, UNITEDHEALTH GROUP, DKV, BUPA

    May 21, 2019

    Health Insurance Market Report fulfil the Current as well as Future aspects and trends. The market study on Global Health Insurance Market 2019 Research Report studies Deep analysis of the Health Insurance Market primarily based upon factors on which the companies compete in the market, key trends a...

    NEWSEARLIER
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    https://Policy.report/news-article.aspx?ID=18191819

    INSURANCE POLICIES IN DOUBT AFTER KEY ATE PROVIDER FAILS

    May 21, 2019

    leading after-the-event insurance supplier for personal injury and clinical negligence claims has gone into liquidation. Gibraltar-based LAMP Insurance posted a message on its website confirming an application to be placed into liquidation was submitted last Thursday. The fallout could pose a major ...

    LAWGAZETTE
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    https://Policy.report/news-article.aspx?ID=18211821

    VALUED POLICY LAW AND TOTAL LOSS

    May 21, 2019

    Typically, a fire insurance policy pays a policyholder for the actual cash value or the replacement value of the property destroyed.  But in 20 states, if there is a total loss, the amount the insurer must pay is equal to the value of the property at the time the insurance policy was issued.&nb...

    INREDISPUTESBLOG
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    https://Policy.report/news-article.aspx?ID=18221822

    VALUED POLICY LAW AND TOTAL LOSS

    May 21, 2019

    Typically, a fire insurance policy pays a policyholder for the actual cash value or the replacement value of the property destroyed.  But in 20 states, if there is a total loss, the amount the insurer must pay is equal to the value of the property at the time the insurance policy was issued.&nb...

    INREDISPUTESBLOG
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    https://Policy.report/news-article.aspx?ID=18231823

    AUTO INSURANCE TALKS CONTINUE AS GILBERT PREPS BALLOT INITIATIVE

    May 20, 2019

    As the state’s top legislators remain optimistic about negotiations over no-fault auto insurance reform, one of its biggest unelected political players is preparing to take the issue to the people.
    The Detroit News first reported over the weekend that Quicken Loans billionaire and Detro...

    MICHIGANADVANCE
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    https://Policy.report/news-article.aspx?ID=18201820

    DETAILED EXAMINATION OF THE TERM LIFE INSURANCE MARKET 2019: BY TOP LEADING VENDORS

    May 20, 2019

    New study on Industrial Growth of Term Life Insurance Market 2019-2025: Global Term Life Insurance Market report provides information on types, applications and its regional markets including past and expected (2019-2025) Opportunities. Term Life Insurance Market report delivers data on Manufacturer...

    MARKETRESEARCHLEDGER
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    https://Policy.report/news-article.aspx?ID=18061806

    HANOVER INSURANCE GROUP INC (THG) POSITION TRIMMED BY MERIAN GLOBAL INVESTORS UK LTD

    May 19, 2019

    MERIAN GLOBAL INVESTORS UK Ltd decreased its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 32.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,315 shares of the insurance provider’s ...

    TECHKNOWBITS
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    https://Policy.report/news-article.aspx?ID=18081808

    HEALTH INSURANCE CLAIM: THIS IS WHY YOUR INSURER MAY NOT PAY THE ENTIRE CLAIM AMOUNT

    May 18, 2019

    The basic purpose of buying a health insurance policy is that one doesn’t have to dip into one’s savings to pay for the medical bills after hospitalisation. By paying the premium for a health insurance policy, one is expected to come out of the hospital without settling the bills. The co...

    FINANCIALEXPRESS
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    https://Policy.report/news-article.aspx?ID=18181818

    WOKINGHAM GAME OF THRONES FANS CAN GET SPOILER INSURANCE AHEAD OF FINAL EPISODE

    May 17, 2019

    WOKINGHAM fans of Game of Thrones looking forward to the big finale but don’t want the plot to be given away in advance can now apply for special spoiler insurance.Anyone who remembers the episode of The Likely Lads where Bob and Terry try hard to avoid the football score before they get to se...

    WOKINGHAMPAPER
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    https://Policy.report/news-article.aspx?ID=18071807

    HARTFORD STEAM BOILER INTRODUCES CYBER INSURANCE FOR FARMERS

    May 17, 2019

    Hartford Steam Boiler (HSB), a Munich Re company, has announced a new cyber insurance product made specifically for farmers. The HSB Farm Cyber Insurance solution will help protect farmers and farm technology from hackers, malware, and other cyber attacks. Exposures covered by the insurance include ...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=18021802

    HERE’S WHERE EVERY 2020 DEMOCRAT STANDS ON ABORTION POLICY

    May 17, 2019

    The outcry over Alabama’s abortion ban has exposed a major gap: While Democratic presidential hopefuls are fired up about the recently-passed law, few have laid out their own proposals on reproductive rights. Since Democrats are typically seen as united on the issue of abortion, the policy spe...

    VOX
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    https://Policy.report/news-article.aspx?ID=17991799

    GLOBAL COMMERCIAL INSURANCE PRICES ON THE RISE – MARSH

    May 17, 2019

    Global commercial insurance prices rose for the sixth consecutive quarter in Q1, according to Marsh’s latest Global Insurance Market Index. Average commercial insurance prices rose 3% in the first quarter, the largest increase since the survey began in 2012. Composite pricing increased in all ...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=18001800

    MICHIGAN REPUBLICANS AND WHITMER MOVE CLOSER TO NO-FAULT AUTO INSURANCE DEAL

    May 16, 2019

    Republican legislative leaders say they have made progress with Gov. Gretchen Whitmer’s administration toward a deal to reform Michigan’s unique-in-the-nation no-fault auto insurance system.Talks are expected to continue over the weekend as Republicans seek to bring Whitmer, a Democrat, ...

    BRIDGEMI
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    https://Policy.report/news-article.aspx?ID=18011801

    CLEMENTS WORLDWIDE: DIGGING INTO THE COMPLEX REALM OF POLITICAL VIOLENCE INSURANCE

    May 15, 2019

    More than 10,000 terrorist attacks are carried out around the world every year, endangering the staff, assets and operations of international organizations. In today’s complex geo-political environment, incidents of political risk, political violence, war and terrorism can no longer be pinpoin...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=17911791

    THE RIGHT TECHNOLOGY PARTNER CAN HELP INSURERS WITHSTAND MARKETPLACE CHALLENGES

    May 15, 2019

    Innovation in technology, the growing use and availability of data, and changing customer expectations are all putting pressure on the insurance industry to transform – and fast. Alongside other forces, like the competition for new talent, product innovation, and regulatory influence, carriers...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=17921792

    TIME TO SPEED UP HEALTH INSURANCE?

    May 15, 2019

    Industry disruption by digital players is a major threat to the health insurance industry, but insurers themselves seem to be more dazzled by the oncoming glare than galvanised behind comprehensive strategies and best-practice development frameworks for digitising their businesses.While there is a g...

    MOBIHEALTHNEWS
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    https://Policy.report/news-article.aspx?ID=17851785

    TRAVEL ADVISORS SEE TRIP INSURANCE OPPORTUNITY WHERE CREDIT CARDS FALL SHORT

    May 14, 2019

    Recent travel disruptions following the bombings in Sri Lanka and the grounding of Boeing 737 Max 8 aircraft around the world are creating awareness of the need for travel insurance and boosting sales. While many travellers were once prepared to take a chance, authorities around the world are warnin...

    SKIFT TAKE
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    https://Policy.report/news-article.aspx?ID=17841784

    COMBINED INSURANCE NAMED BEST FOR VETS EMPLOYER

    May 13, 2019

    Combined Insurance has been recognized as a “Best for Vets” employer by The Military Times for the third consecutive year, the company has announced. The “Best for Vets” list evaluates companies on their culture, veteran recruiting, veteran policies and accommodations for mem...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17741774

    BRIGHTWAY EXPANDS INTO WISCONSIN

    May 13, 2019

    Brightway has announced the opening of three new locations and its expansion into Wisconsin. “We’re ecstatic to welcome our new partners, Dan Carmichael, Charlee Amos-Coles, Ana Villafana and Maria Villafana, to expand our brand into new markets including Wisconsin, which is a new state ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17751775

    NRA LOSES ONE ROUND AGAINST NEW YORK OVER INSURANCE PROGRAM

    May 13, 2019

    A National Rifle Association lawsuit accusing New York’s financial regulator of wrongfully investigating marketing of NRA-branded insurance products in the state suffered a setback on Friday.Senior U.S. District Judge Thomas McAvoy in Albany dismissed the NRA’s claim that the Department ...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=17831783

    WASHINGTON TO OFFER FIRST 'PUBLIC OPTION' INSURANCE IN US

    May 12, 2019

    SEATTLE (AP) — Washington is set to become the first state to enter the private health insurance market with a universally available public option.A set of tiered public plans will cover standard services, and are anticipated to be up to 10% cheaper than comparable private insurance, thanks in...

    USNEWS
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    https://Policy.report/news-article.aspx?ID=17861786

    THE CULTURE OF THE INSURANCE INDUSTRY AND RAISING MONEY FOR CHARITY GO HAND IN HAND

    May 10, 2019

    While it might not always make headlines, the insurance industry is well known for its fundraising and community involvement efforts. In 2017, the Insurance Industry Charitable Foundation’s (IICF) Week of Giving involved almost 10,200 industry volunteers in 173 cities, who donated more than 28...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17681768

    EMPLOYMENT IN INSURANCE: NUMBER OF US AGENCIES ON THE RISE

    May 10, 2019

    The potential demise of the traditional insurance agent is a topic of constant debate in the insurance industry. New technologies are spreading like a plague, offering efficiency gains and potential cost-savings across all links in the insurance value chain. In that increasingly busy playing field, ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17691769

    ALERA GROUP ACQUIRES CA-BASED GROUP PLANS INSURANCE FIRM

    May 09, 2019

    Alera Group has acquired Shepler & Fear General Agency (SFGA) in Roseville, CA. The transaction was effective May 01, 2019. SFGA, founded in 2009, specializes in large group, small group, and self-funding plans. The firm says it works closely with their broker partners in a “consultative a...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17611761

    UNICO GROUP ROLLS OUT SPECIALTY SHORT-TERM PROGRAM FOR COMMERCIAL TRUCK BUYERS

    May 09, 2019

    UNICO Group has launched a new offering that expedites the process of insuring newly-purchased over-the-road (OTR) Class 7 and Class 8 trucks. The product, called Short-Term Drive Home Coverage, is available to dealerships of both trucks and trailers. Dealerships can access the coverage for their cl...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17621762

    RSA ROLLS OUT INDUSTRY PRACTICES WITHIN GLOBAL RISK SOLUTIONS

    May 09, 2019

    RSA UK & International (UK&I) has tapped field experts as it rolls out five industry practices within its Global Risk Solutions unit. Announcing the launch of the rail, chemical, food & beverage, real estate, and renewables practices, RSA said they cover areas where the insurer already h...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17631763

    W.N. TUSCANO AGENCY ACQUIRES MANAGING GENERAL AGENT

    May 08, 2019

    W.N. Tuscano Agency has signed an agreement to acquire the managing general agent Insurance Markets Inc. (IM) in Clarks Summit, PA Founded in 1960, IM is an MGA and surplus lines broker serving clients who are primarily in Pennsylvania. Following the deal’s closure, the IM office in Northeaste...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17551755

    GENERALI REVEALS ACQUISITION PLANS

    May 08, 2019

    Smaller Central and Eastern European insurance companies that are facing difficulties are possible acquisition targets for Italian giant Generali. As outlined in the multinational insurer’s previously announced growth acceleration plan, one key focus is Europe where Generali is the third large...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17561756

    WHY INSURERS AND POLICYHOLDERS NEED TO UNDERSTAND RECONSTRUCTION COSTS

    May 08, 2019

    Last year, California experienced the largest fire, the deadliest fire and the most destructive fire in its history, according to CoreLogic, and the outlook for wildfire risk is unlikely to improve in the years to come as environmental, demographic, and economic factors put more structures in the pa...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17571757

    AXA NAMED A PRINCIPAL PARTNER OF LIVERPOOL FC

    May 07, 2019

    The Reds will be donning a new range of training apparel as major insurer AXA is named not only a principal partner but also Liverpool FC’s new official training kit partner from the 2019/20 season. Available in adult and children’s sizes, the freshly launched New Balance line includes w...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17471747

    HUB SNAPS UP CANADIAN AGENCY

    May 07, 2019

    Hub International Limited has announced the acquisition of Kelliher Agencies, a Canadian company based in Kelliher, Saskatchewan. Terms of the transaction were not disclosed. Kelliher Agencies is a full-service, independent brokerage that provides personal, commercial, farm and specialty products in...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17481748

    DARAG COMPLETES TRANSFER OF ACQUIRED PORTFOLIO

    May 07, 2019

    It’s now officially a done deal between DARAG Group Limited and DONAU Versicherung AG, whose Italian non-life portfolio has been transferred to the legacy acquirer. The transfer was completed after being given the consent of the Italian insurance regulator, Istituto per la Vigilanza sulle Assi...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17491749

    ALLIANZ AUSTRALIA TO SUPPORT ATHLETES’ OLYMPIC DREAMS IN NEW TIE-UP

    May 07, 2019

    Allianz Australia has teamed up with the Australian Olympic Committee (AOC) to provide support for the Olympic movement in Australia, including plans to provide insurance to the AOC, the Australian Olympic teams, and athletes, from now through 2028. This development comes following a September 2018 ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17411741

    WHITMER THREATENS TO VETO SENATE-PASSED AUTO INSURANCE OVERHAUL

    May 07, 2019

    The Republican-controlled Michigan Senate's passage Tuesday of a no-fault auto insurance bill that would let motorists opt out of unlimited medical coverage for auto injuries but not guarantee rate reductions in premiums drew an immediate veto threat from Democratic Gov. Gretchen Whitmer.
    ...

    CRAINSDETROIT
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    https://Policy.report/news-article.aspx?ID=17891789

    IBAA RESPONDS TO NATIONAL BROKER STUDY RESULTS

    May 06, 2019

    Following the release of a national report which looked into the economic and social contributions of P&C insurance brokers, the Insurance Brokers Association of Alberta (IBAA) has issued its response. The Insurance Brokers Association of Canada (IBAC) prepared the national report, together with...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17421742

    PEEL MUTUAL SELECTS DELOITTE FOR POLICY AND CLAIMS ADMINISTRATION SYSTEM

    May 06, 2019

    Peel Mutual Insurance – a member of the Ontario Mutual Insurance Association – has selected Deloitte’s InsurCloud solution to serve as its new policy, billing, and claims administration system. A release said that Peel Mutual is making the investment to replace its current system t...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17431743

    COMPLIANCE IS VITAL FOR CROSS-BORDER COMPANIES

    May 03, 2019

    The business world is constantly evolving. As the world seems to get smaller by the day, due partly to new technology improving geographical connectivity, companies large and small are looking for ways to expand their horizons, target new markets and grow their books of business in new jurisdictions...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17351735

    HUB INTERNATIONAL TAKES ASSETS OF INDEPENDENT SPECIALTY INSURANCE AGENCY

    May 03, 2019

    Hub International has acquired the assets of South Dakota-based First Western Insurance Agency. With 10 locations throughout the Black Hills area, First Western Insurance provides multi-line insurance solutions, which include personal, commercial and employee benefits products, for their clients. A ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17361736

    GREEN INSURANCE GROUP ACQUISITIONS SECURE REGULATORY NOD

    May 03, 2019

    Reid Briggs Insurance Brokers Ltd and Clifton Morley Associates Ltd are now part of Global Risk Partners (GRP) company Green Insurance Group (Greens). Regulatory approval has been granted to both deals, financial terms of which were not disclosed. The completion of the transactions will see the imme...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17371737

    CRC GROUP SWOOPS IN FOR ARKANSAS-BASED MANAGING GENERAL AGENT ARGENIA

    May 02, 2019

    CRC Group has acquired the managing general agent (MGA) and surplus lines broker Argenia in Little Rock, AR. Terms of the transaction were not disclosed. Argenia, founded in 1976, currently operates in more than 10 states. The company offers commercial lines and commercial inland marine products, as...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17291729

    INSURANCE BROKER TARGETS $4 BILLION ANNUAL REVENUE

    May 02, 2019

    Not content to rest on its laurels, national insurance brokerage Brown & Brown is looking to grow its annual revenues to an ambitious $4 billion. Speaking to the company’s shareholders during a recent annual meeting, Brown & Brown CEO J. Powell Brown shared the company’s “i...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17301730

    ERIE INSURANCE TAKES TOP AUTO INSURANCE HONORS

    May 02, 2019

    Erie Insurance ranked highest among auto insurers in providing a satisfying purchase experience for the seventh straight year, according to a new study by J.D. Power. In J.D. Power’s 2019 US Insurance Shopping Study, Erie Insurance earned a score of 917 on a 1,000-point scale. “This reco...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17311731

    REVEALED: THE INSURANCE GIANT PARTNERING WITH TESLA

    May 01, 2019

    Tesla co-founder and CEO Elon Musk recently announced plans to launch a “compelling” insurance program for Tesla electric car owners, which would be managed in-house and would be based upon Tesla driving data. On Wednesday (May 01) it was revealed that the automotive firm will launch its...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17231723

    PPCI LAUNCHES AS AN ADMITTED CARRIER FOR COMMERCIAL AUTO IN TWO STATES

    May 01, 2019

    Prime Property & Casualty Insurance (PPCI) is debuting in the North Carolina and New Mexico commercial auto markets as an admitted carrier. The company specializes in providing insurance solutions for distressed and substandard risks. PPCI offers the capacity to insure any commercial auto risk c...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17241724

    CLAIMS EXPERIENCE IMPACTS CUSTOMERS’ CONFIDENCE IN THEIR COVERAGE - STUDY

    May 01, 2019

    There is a direct correlation between small business owners’ confidence in their insurance coverage and their past claims experience, according to a new study from The Hanover Insurance Group and Forbes Insights. Thirty-six per cent (36%) of respondents to the 2019 Small Business Risk Report s...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17251725

    HONAN AFFIRMS PREDICTIONS OF CHALLENGING GI YEAR

    Apr 30, 2019

    Honan Insurance Group has reaffirmed its predictions about the challenging purchasing conditions for insurance cover for businesses at the “high hazard” end of the spectrum. In its 2019 Quarterly Market Update, the insurer noted the lack of local underwriting appetite and capacity for pr...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17191719

    STARKWEATHER & SHEPLEY ANNOUNCES ACQUISITION, OPENING OF NEW LOCATION

    Apr 29, 2019

    Starkweather & Shepley, the largest independent agency in Rhode Island and one of the nation’s largest insurance brokers, has announced the acquisition of a Connecticut agency and the opening of a new location in Palm Beach Gardens, Fla., with O’Neill & Co. Insurance Group. Stark...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17151715

    GETTING AMERICANS TO STOP USING PHONES WHILE DRIVING

    Apr 29, 2019

    The distracted driving report by Zendrive, a traffic-data startup, makes it clearer and clearer each year that millions of Americans can’t stop themselves from talking, texting and livestreaming—yes, even using FaceTime—while driving. The results have been increasingly unsettling, ...

    INSURANCE JOURNAL
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    https://Policy.report/news-article.aspx?ID=17161716

    ONLIA NOW PROVIDES ON-DEMAND ROADSIDE ASSISTANCE SERVICES VIA DIGITAL APP

    Apr 29, 2019

    Insurtech disruptor Onlia Holding has launched a new roadside assistance service, which can be accessed through the company’s proprietary app. The on-demand Onlia Roadside Assistance is accessible on the Onlia Sense safe driving mobile app, but drivers can also call a toll-free number to inqui...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17171717

    INSURANCE BROKERS MUST NOT BE SCARED TO ASK THE TOUGH QUESTIONS

    Apr 29, 2019

    In this ever-changing insurance industry, it’s vital that insurance brokers have the ability and the willingness to adapt. That evolution includes investing in new technology, hiring and supporting top talent, and finding ways to differentiate the brokering model in an industry that’s fa...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17181718

    INCUMBENTS AND INSURTECHS: THE CHALLENGE OF SEEING EYE TO EYE

    Apr 26, 2019

    EY New Zealand and InsurTechNZ recently launched their first study into New Zealand’s insurtech landscape, which aimed to ‘initiate the right conversations’ between incumbents and insurtechs to kick-start potential business partnerships – something which will be invaluable in...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=16981698

    INSURANCE CLAIM LODGED FOR DOWNED HELICOPTER NEAR AUCKLAND ISLANDS

    Apr 26, 2019

    One helicopter company is lodging an insurance claim following the crash of its rescue helicopter this week – which could mean a large payout from the insurer for the wreck. An article by Radio NZ detailed the case of Southern Lakes Helicopters, which owns the helicopter that crashed near the ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=16991699

    RIDLEY MACMILLAN NOW PART OF JM GLENDINNING

    Apr 26, 2019

    Ridley Macmillan has offered assurances that customers’ cover will remain in place following the insurance broker’s ownership change. “Our business has become part of JM Glendinning (Insurance Brokers) North Yorkshire Ltd, and we have moved into their offices at 54 Westborough, Sca...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17011701

    BC WOMAN QUOTED 10 TIMES MORE THAN HER PREVIOUS AUTO INSURANCE RATE

    Apr 26, 2019

    A Burnaby woman was surprised to find that an insurance quote for her car ended up costing four times the value of the vehicle and 10 times more than the previous rate she had been paying. Lindsay McArthur was changing her auto insurance policy by adding her partner, Chris Hodge, as the principal dr...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17061706

    CAA ACQUIRES SEVEN NEW AGENCIES, EXPANDS INTO NEW STATE

    Apr 26, 2019

    Combined Agents of America (CAA) has revealed that it has spent the last few months making acquisitions and even establishing a presence in a new state. The agency partnership group has established its first foothold in Colorado with the acquisition of Renaissance Insurance Group in Windsor, CO. CAA...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=17081708

    HUB NAMED AGENCY OF THE YEAR BY WORKERS’ COMP SPECIALIST

    Apr 26, 2019

    Workers’ compensation specialist CompWest Insurance Company has named HUB International its 2018 Agency of the Year. “HUB is the best of the best,” said Al Gileczek, president of CompWest and Accident Fund. “Like CompWest, the HUB team is clearly committed to their customers....

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    https://Policy.report/news-article.aspx?ID=17091709

    MUSK REVEALS PLANS FOR 'COMPELLING' TESLA INSURANCE PRODUCT

    Apr 25, 2019

    It has been a tough week for Tesla co-founder and CEO Elon Musk. Tesla posted a bigger-than-expected US$702.1 million (about CA$948.3 million) net loss in the first quarter of 2019, following a slump in its electric car sales combined with the automotive company’s largest ever debt payment. Tr...

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    https://Policy.report/news-article.aspx?ID=17071707

    ALPHAXO RISK PARTNERS CELEBRATE MILESTONE

    Apr 24, 2019

    AlphaXO Risk Partners has celebrated its move to new North Sydney offices and its first year since its major rebrand, together with underwriters and business partners. The event also served as a boost to the specialist insurance broker’s fundraising campaign to donate $50,000 to charity by the...

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    https://Policy.report/news-article.aspx?ID=16791679

    CHUBB EXPANDS BUSINESS TRAVEL INSURANCE APP WITH E-LEARNING MODULES

    Apr 24, 2019

    Chubb has expanded its Chubb Travel Smart app for business travellers with the addition of new e-learning modules. The new integrated e-learning modules, developed in partnership with Global Warning Systems, allows users to access all functions in a single app. A record is kept of employees who have...

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    https://Policy.report/news-article.aspx?ID=16801680

    ZENSURANCE NOW LICENSED TO OPERATE IN NEWFOUNDLAND AND LABRADOR

    Apr 24, 2019

    Zensurance has announced that it is now licensed to operate in Newfoundland and Labrador, expanding its insurance solutions business. With this expansion, the insurance package provider now operates in nine provinces. The company was first licensed in Ontario in 2016, then in Alberta and British Col...

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    https://Policy.report/news-article.aspx?ID=16881688

    RANDALL & QUILTER ACQUISITION SECURES REGULATORY NOD

    Apr 24, 2019

    “The transaction is expected to close shortly.” That was the statement made by Randall & Quilter (R&Q) after finally receiving regulatory approval for its swoop for GLOBAL U.S. Holdings Incorporated. Insurance Business first reported on the acquisition in the third quarter of 201...

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    https://Policy.report/news-article.aspx?ID=16891689

    FRUSTRATION AT AVIVA CANADA’S NEW AUTO POLICY CHANGES

    Apr 24, 2019

    Aviva Canada has recently changed the way it approaches auto renewal policies – but the change has left some drivers upset. One driver, Scott Ramsay of Calgary, said that in his 10 years as a policyholder with Aviva Canada, he has never received tickets or convictions that would potentially ra...

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    https://Policy.report/news-article.aspx?ID=16901690

    AVIVA MAKES MAJOR CHANGES AT THE TOP

    Apr 24, 2019

    It’s not quite all change at the top – but there is certainly a major shuffle under way at insurance giant Aviva. The company today announced the departure of CEO of UK insurance Andy Briggs – a move that follows swiftly on the back of the appointment of new group CEO Maurice Tullo...

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    https://Policy.report/news-article.aspx?ID=16911691

    CIC SERVICES LAUNCHES CAPTIVE PROGRAM FOR SMALL, MID-SIZED BUSINESSES

    Apr 24, 2019

    CIC Services, LLC, has created a new program help small- to mid-sized companies establish captive programs for their business. The program is designed for companies that would otherwise not be large enough to consider replacing commercial insurance with a captive. The CIC Services Bundled Program al...

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    https://Policy.report/news-article.aspx?ID=16921692

    REPORT: AUTO INSURANCE RATES IN THREE REGIONS CONTINUE TO CLIMB

    Apr 24, 2019

    A new report from LowestRates.ca found that auto insurance rates across three regional markets – Ontario, Alberta, and Atlantic Canada – have all gone up in the first quarter of 2019. The report, called the “Q1 2019 Auto Insurance Price Index,” highlighted that drivers in Alb...

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    https://Policy.report/news-article.aspx?ID=16971697

    AAIS GETS INSURANCE DEPARTMENT APPROVAL FOR CANNABOP IN COLORADO

    Apr 23, 2019

    The American Association of Insurance Services has received approval for its cannabis businessowners policy (CannaBOP) program from the Colorado Department of Insurance. AAIS announced it filed for approval of the program in Colorado earlier this month. AAIS first introduced CannaBOP in California l...

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    https://Policy.report/news-article.aspx?ID=16811681

    EVEREST LAUNCHES LAWYERS PROFESSIONAL LIABILITY POLICY

    Apr 23, 2019

    Everest Insurance has released a new lawyers professional liability policy – Everest Elevation – designed to provide law firms with liability coverage for financial loss suffered by third parties arising from acts, errors, and omissions in providing legal services. Everest Elevation addr...

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    https://Policy.report/news-article.aspx?ID=16821682

    THESE ARE AMERICA'S TOP LARGE INSURANCE EMPLOYERS

    Apr 23, 2019

    Forbes has unveiled its list of America’s best large employers – with a good number of insurance companies making the cut. The global media company teamed up with market research company Statista to identify and rank the companies most beloved by their own employees. Two lists were produ...

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    https://Policy.report/news-article.aspx?ID=16781678

    BROWN & BROWN ACQUIRES ASSETS OF ALMEA INSURANCE IN WASHINGTON

    Apr 22, 2019

    Brown & Brown of Oregon LLC has acquired substantially all of the assets of ALMEA Insurance’s Vancouver, Wash. location. Following the deal, the ALMEA Insurance team will continue doing business from its existing Vancouver location as a branch location of Brown & Brown’s Portland...

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    https://Policy.report/news-article.aspx?ID=16681668

    RESOURCE PRO ACQUIRES FLORIDA-BASED OCEANUS PARTNERS

    Apr 22, 2019

    Insurance consulting company ReSource Pro has announced its acquisition of Oceanus Partners, a Florida-based insurance training, coaching and consulting firm. “ReSource Pro specializes in facilitating service excellence so that our clients can support more revenue,” said Dan Epstein, CEO...

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    https://Policy.report/news-article.aspx?ID=16691669

    WHY IT’S DIFFICULT TO INSURE ICONIC PROPERTIES SUCH AS NOTRE DAME

    Apr 22, 2019

    Rebuilding Notre Dame, the 800-year-old Paris cathedral devastated by fire last week, will cost billions of dollars as architects, historians and artisans work to preserve the medieval landmark. But contrary to what one might think, little of the money will come from insurance companies. Notre Dame ...

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    https://Policy.report/news-article.aspx?ID=16701670

    AIA TO LAUNCH VITALITY IN NZ

    Apr 22, 2019

    Insurance firm AIA New Zealand is set to offer discounts and up to $4,000 a year in rewards for people who eat healthily, exercise, and sleep well. AIA New Zealand will introduce AIA Vitality in June, NZ Herald reported. AIA Vitality is a wellness programme aimed at tackling the four main lifestyle ...

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    https://Policy.report/news-article.aspx?ID=16711671

    AI STARTUP CYTORA RAISES $32.5M TO EXPAND COMMERCIAL INSURANCE PRODUCTS, GEOGRAPHIES

    Apr 22, 2019

    Cytora, the London-based provider of artificial intelligence-powered solutions for the commercial insurance industry, announced it has raised £25 million ($32.5 million) in new financing, which will be used to accelerate expansion of the company’s product suite as well as its entry into ...

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    https://Policy.report/news-article.aspx?ID=16721672

    AYR FARMERS MUTUAL INSURANCE ADOPTS GUIDEWIRE PLATFORM

    Apr 19, 2019

    Ontario-based Ayr Farmers Mutual Insurance has selected Guidewire to help with the insurance company’s transition to digital. Guidewire’s InsurancePlatform products were selected for Ayr to “transform and digitize its operations to drive higher policyholder and producer engagement ...

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    https://Policy.report/news-article.aspx?ID=16581658

    I GOT NINETY-NINE PROBLEMS BUT INSURANCE AIN’T ONE

    Apr 18, 2019

    Despite being two of the highest-grossing music genres in North America, hip-hop and rap artists still struggle to find small venues willing to host their shows. There are many theories as to why that’s the case. Some hosts say ‘no’ through fear of violence, others reject the messa...

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    https://Policy.report/news-article.aspx?ID=16591659

    GORE MUTUAL INTEGRATES UNDERWRITING PRACTICE WITH AI TECH

    Apr 18, 2019

    Property and casualty (P&C) insurer Gore Mutual has partnered with global tech firm Element AI to integrate the Element AI Underwriting Partner software product with Gore Mutual’s underwriting practice. The integration uses artificial intelligence (AI) technology to augment risk assessment...

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    https://Policy.report/news-article.aspx?ID=16601660

    BGL GROUP TAPS THE RAC AS UNDERWRITING PARTNER

    Apr 18, 2019

    Breakdown cover provider the RAC will be underwriting BGL Group’s motor and home legal expenses insurance (LEI) business after its legal services division was appointed as preferred underwriter partner. BGL, the name behind comparison giant comparethemarket.com, offers LEI products to nearly t...

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    https://Policy.report/news-article.aspx?ID=16431643

    AMTRUST AT LLOYD'S AND CANOPIUS SIGN MERGER AGREEMENT

    Apr 18, 2019

    That is how Canopius chairman Michael Watson described the news of an agreement being signed between the firm and AmTrust at Lloyd’s. The move, revealed this morning, will see Canopius’s Lloyd’s business merge with the AmTrust Financial division, subject to regulatory approval. &ld...

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    https://Policy.report/news-article.aspx?ID=16491649

    SELECTIVE INSURANCE HIGHLIGHTS DISTRACTED DRIVING AWARENESS

    Apr 18, 2019

    Selective Insurance Company of America is working with its agents to call attention to distracted driving behaviors during Distracted Driving Awareness Month in April. The campaign includes a “Distracted Driving Pledge” that encourages customers, insurance agents and employees to promote...

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    https://Policy.report/news-article.aspx?ID=16501650

    INSURANCE ADVICE FOR SAFE EASTER TRAVELS

    Apr 18, 2019

    The Insurance Council of New Zealand (ICNZ) is reminding motorists to be careful and not take risks ahead of Easter weekend, especially when it comes to using their phones. “This is a busy time of year for car accidents,” ICNZ chief executive Tim Grafton said. “Easter is a time whe...

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    https://Policy.report/news-article.aspx?ID=16511651

    ALLIANZ REVEALS EYE-WATERING COST OF CYBERATTACKS

    Apr 18, 2019

    With cyberattacks getting increasingly sophisticated, it has become one of the most significant risks for businesses, resulting in “eye-watering losses” of as much as US$600 billion ($840 billion) a year worldwide, according to global insurer Allianz. Sinead Browne, chief regions and mar...

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    https://Policy.report/news-article.aspx?ID=16521652

    MUNICH RE SYNDICATE SINGAPORE PARTNERS WITH LLOYD’S COVERHOLDER NECTAR SPECIALTY RISK

    Apr 18, 2019

    Munich Re Syndicate Singapore (MRSS) has formed a partnership with Nectar Specialty Risk Pte Ltd. (Nectar), a Singapore incorporated limited liability company and Lloyd’s coverholder that provides tailor-made re/insurance solutions. Nectar’s professional line products are offered under t...

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    https://Policy.report/news-article.aspx?ID=16621662

    CATASTROPHE INSURER PALOMAR ANNOUNCES IPO PRICING, SHARES RISE 1ST DAY OF TRADING

    Apr 17, 2019

    La Jolla, Calif.-based Palomar Holdings Inc. this week announced the pricing of its initial public offering of its common stock at a price of $15 per share and in its first day of trading on Wednesday it had at one point reached nearly $20 per share. Palomar is offering 5,625,000 shares of its commo...

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    https://Policy.report/news-article.aspx?ID=16611661

    EXPERT HIGHLIGHTS WHY INSURANCE TECH OPPORTUNITIES ARE HUGE

    Apr 17, 2019

    How can insurers make the most of this growing reality?  With the rapid and significant changes that are reshaping the insurance industry, where should insurance companies focus? According to Gallagher Bassett (GB) automation, AI and analytics head Sameer Oghanna, insurers need to understand an...

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    https://Policy.report/news-article.aspx?ID=16321632

    PENNSYLVANIA INSURANCE DEPARTMENT TO HOLD NEXTGEN ACADEMY FOR COLLEGE STUDENTS

    Apr 17, 2019

    Pennsylvania Insurance Commissioner Jessica Altman has announced that her department, along with a working group of stakeholders, will this summer hold the Pennsylvania NextGen Insurance Academy to provide college students with an up-close look at various careers in the insurance industry. “Th...

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    https://Policy.report/news-article.aspx?ID=16381638

    LEGAL & GENERAL UNVEILS £44.6 MILLION HOUSING INITIATIVE

    Apr 17, 2019

    A total of £44.6 million – that is how much Legal & General is pouring into a ground-breaking housing initiative for the benefit of Croydon and neighbouring boroughs. In partnership with Croydon Council, the British insurer is investing the amount to provide 167 homes to families on ...

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    https://Policy.report/news-article.aspx?ID=16391639

    ASSUREDPARTNERS SNAPS UP GEORGIA AGENCIES

    Apr 17, 2019

    AssuredPartners has announced the acquisition of Cohen-Ballie Insurance and Donald H. Ballie Agency, located in Augusta, Georgia.  The team of 17 employees will remain under the leadership of President Hal Cohen, AssuredPartners said. The agencies report $2 million in annualized revenue. &ldquo...

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    https://Policy.report/news-article.aspx?ID=16401640

    AI IN INSURANCE – TRAINING THE FUTURE WORKFORCE

    Apr 17, 2019

    Allstate CEO Tom Wilson announced last year that artificial intelligence (AI) will rip through the service economy “like a tsunami,” with automation and technological advancements forcing some roles to change and making others completely redundant. In reaction, the Northbrook, Illinois-b...

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    https://Policy.report/news-article.aspx?ID=16411641

    EXPERTISE “ESSENTIAL” TO SMOOTH CLAIMS PROCESS

    Apr 17, 2019

    In recent years, scores of insurers have sharpened their focus on the claims process with many investing heavily in technology to make the experience more efficient – however, one specialist firm says it takes more than top-of-the-line tech to keep customers happy. Janelle Greene, general mana...

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    https://Policy.report/news-article.aspx?ID=16421642

    GORE MUTUAL REVEALS NEW CUSTOMER-FRIENDLY CLAIMS PROCESSING APPROACH

    Apr 16, 2019

    Gore Mutual is introducing a new approach to its claims processing, improving the experience significantly for consumers. Called “ClaimCare,” the new approach ensures that “there are no surprises in the claims process,” Gore Mutual said in a release. As part of the approach, ...

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    https://Policy.report/news-article.aspx?ID=16281628

    SOFI ANNOUNCES PARTNERSHIPS TO EXPAND INSURANCE OFFERING

    Apr 16, 2019

    SoFi has announced two new partnerships in the insurance space. The partnerships expand SoFi’s portfolio of offerings to include homeowners’ and renters’ insurance through Lemonade and auto insurance through Root. “Protecting yourself and your assets is a critical and often o...

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    https://Policy.report/news-article.aspx?ID=16291629

    HILB GROUP ACQUIRES ARKANSAS’ WALKER BROTHERS INSURANCE

    Apr 16, 2019

    The Hilb Group LLC (THG) has acquired Arkansas-based Walker Brothers Insurance Inc. (WBI), effective April 1, 2019. Formed in 1932, WBI is a full-service retail agency primarily focused on commercial property/casualty insurance for small to medium sized businesses. WBI’s employees, including A...

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    https://Policy.report/news-article.aspx?ID=16301630

    INSURANCE OFFICE OF AMERICA PARTNERS WITH MORE HEALTH TO PROVIDE ACCESS TO THE BEST MEDICAL MINDS IN THE WORLD

    Apr 16, 2019

    Insurance Office of America (IOA) and MORE Health, a medical second opinion and collaborative diagnosis service, announced their partnership in offering an indispensable medical opportunity for employees who are enrolled in medical plans. Employees of IOA clients can now receive easy access to secon...

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    https://Policy.report/news-article.aspx?ID=16311631

    NIB TO LAUNCH ADVISER SUPPORT TEAM

    Apr 16, 2019

    Insurance company nib is creating a dedicated adviser support team across the country as it looks to increase its presence in the adviser market. Starting July 01, 2019, nib’s Adviser Partner Managers will work closely with adviser, adviser businesses and dealer groups to help ensure their cli...

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    https://Policy.report/news-article.aspx?ID=16201620

    ARGO US: KEEPING CLIENTS SWITCHED ON DURING A BLACKOUT

    Apr 15, 2019

    Venezuela is in the grips of political turmoil. In recent weeks, an electricity crisis has resulted in extended blackouts and power cuts across the country, causing chaos in major hubs like Caracas, Maracaibo, Valencia, Maracay and San Cristobal. The blackouts, which the Venezuelan government has cl...

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    https://Policy.report/news-article.aspx?ID=16211621

    HOW INSURANCE BROKERS CAN STAND OUT IN A COMPETITIVE MARKETPLACE

    Apr 15, 2019

    The insurance market today is being hit with challenges on all sides, as insurance coverages are commoditized, insurtechs disrupt the supply chain, and competition drives down pricing. That means there’s more pressure on retail brokers to build a resilient book of business and ensure that thei...

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    https://Policy.report/news-article.aspx?ID=16221622

    LIBERTY MUTUAL TO ACQUIRE AMTRUST’S SURETY, CREDIT REINSURANCE BUSINESS

    Apr 15, 2019

    Liberty Mutual Insurance said it has agreed to acquire the global surety and credit reinsurance operations of property/casualty insurer AmTrust Financial Services. Terms of the deal were not disclosed. Upon closing, Liberty Mutual will acquire four AmTrust businesses: AmTrust Surety, previously mana...

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    https://Policy.report/news-article.aspx?ID=16181618

    INSURANCE BROKER CREATES MOCK POLICY FOR GAME OF THRONES WINTERFELL CASTLE

    Apr 15, 2019

    Game of Thrones fans, have you ever wondered how much an insurance policy for the Winterfell Castle would cost? Here we bring you the answer from Irish broker GMHD.ie. Part of broking group Hooper Dolan Insurances Ltd, GMHD.ie came up with a mock policy detailing how much The King of The North would...

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    https://Policy.report/news-article.aspx?ID=16191619

    LEGAL EXPENSES OR EMPLOYMENT PRACTICE LIABILITY?

    Apr 12, 2019

    Legal expenses insurance (LEI) for business customers provides protection against legal costs incurred in pursuing or defending a range of legal disputes. Policies typically cover defence of employment claims, employee restrictive covenant disputes, legal defence which may include motoring offences,...

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    https://Policy.report/news-article.aspx?ID=16081608

    BRIGHTWAY CONTINUES EXPANSION

    Apr 12, 2019

    Brightway Insurance will continue its expansion with the opening of new stores in Florida, Missouri and Tennessee on Monday. “We’re thrilled to welcome Steve Moser, Chris Dillon and Brennen Grone as our newest franchise owners,” said Talman Howard, president of Brightway. “We...

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    https://Policy.report/news-article.aspx?ID=16091609

    MARSH REVEALS HOW CYBER INSURANCE MARKET IS SURGING

    Apr 12, 2019

    The cyber insurance market continues to grow, according to Marsh’s annual Cyber Insurance Trends report. The report analyzed changes in cyber insurance buying, policy limits and pricing in 2018 and over the past several years. The report found that over the past five years, the share of US Mar...

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    https://Policy.report/news-article.aspx?ID=16101610

    DON’T COUNT ON HOME INSURANCE TO COVER COST OF REBUILDING: VIEWPOINT

    Apr 12, 2019

    Own a home? No doubt you’ve insured it. Very sensible of you. But if that home were, say, burned to the ground, then your insurance company probably wouldn’t cover the cost of rebuilding it. Don’t feel too bad, though. It’s only partly your fault. Two-thirds of California wil...

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    https://Policy.report/news-article.aspx?ID=16111611

    ASSIGNMENT OF BENEFITS REFORM MOVES FORWARD AS FLORIDA HOUSE PASSES MEASURE

    Apr 12, 2019

    Assignment of benefits reform legislation progressed in the Florida legislature yesterday. Lawmakers passed House Bill 7065, one of two key pieces of insurance industry-supported legislation – the other being its companion Senate Bill 122 – that Florida’s insurance regulator and in...

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    https://Policy.report/news-article.aspx?ID=16121612

    GENERALI REVEALS PLANS FOR £862 MILLION INVESTMENT

    Apr 11, 2019

    Already the third biggest insurer in Europe, Italian giant Generali has set its sights on further growth by revealing plans to pour one billion euros (around £862 million) in the first funding of a new asset manager. Originally reported by Italian financial publication Il Sole 24 Ore, it was o...

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    https://Policy.report/news-article.aspx?ID=15991599

    APPLIED SYSTEMS ANNOUNCES TECHCANARY ACQUISITION

    Apr 11, 2019

    Insurance software provider Applied Systems has announced that it has acquired TechCanary, an insurance CRM system built on the Salesforce platform. The acquisition expands Applied’s sales and marketing services and will drive greater sales and marketing automation for insurers, agencies and M...

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    https://Policy.report/news-article.aspx?ID=16001600

    CLEMENTS WORLDWIDE: NAVIGATING UNCERTAIN ROADS WITH WORLDAUTO COVERAGE

    Apr 11, 2019

    Operating fleets of commercial vehicles on international roads can be challenging. International roads are not always easily navigable or in the best condition, and weak or crumbling infrastructure can cause damage to vehicles in everyday use. To add fuel to the fire, in some parts of the world, pol...

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    https://Policy.report/news-article.aspx?ID=16011601

    LIBERTY MUTUAL REVEALS HOW MUCH WORKPLACE INJURIES ARE COSTING EMPLOYERS EACH WEEK

    Apr 11, 2019

    Workplace injuries cost US companies more than $1 billion per week, according to new data from Liberty Mutual. The Liberty Mutual Workplace Safety Index lists the top 10 causes of serious workplace injuries – those causing an employee to miss five or more days of work – and ranks them by...

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    https://Policy.report/news-article.aspx?ID=16021602

    ASFA WANTS TO EXCLUDE ADVICE OBLIGATION FROM INSURANCE CLAIMS

    Apr 10, 2019

    A major superannuation funds body has proposed to exclude advice obligations from insurance claims. This was made in response to a major government consultation on the proposed reforms to make insurance claims handling a financial service. In a submission filed with the Federal Treasury, the Associa...

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    https://Policy.report/news-article.aspx?ID=15821582

    PAT GALLAGHER REVEALS WHAT IT TAKES TO RUN AN ETHICAL INSURANCE COMPANY

    Apr 10, 2019

    Global insurance brokerage and risk management firm, Gallagher, was recently recognized as one of the World’s Most Ethical Companies in 2019. The brokerage has been honored for the eighth year running by the Ethisphere Institute, a global leader in defining and advancing the standards of ethic...

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    https://Policy.report/news-article.aspx?ID=15881588

    1ST CHOICE INSURANCE PARTNERS WITH RECLAIM TAX UK

    Apr 10, 2019

    Independent commercial insurance broker 1st Choice insurance has partnered with tax credit specialist Reclaim Tax UK. The collaboration between the Shrewsbury-based firms will combine their respective expertise to roll out a competitive proposition for other organisations. According to the announcem...

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    https://Policy.report/news-article.aspx?ID=15891589

    THE EFFECTS OF NATURAL DISASTERS ON INSURERS ARE COMING HOME TO ROOST

    Apr 10, 2019

    Record floods that submerged parts of the Midwest as a result of a deadly combination of melting snow and heavy rains have caused $3 billion in damages so far, and more flooding is in the forecast, according to news reports. This recent natural catastrophe is once again sending warning signals about...

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    https://Policy.report/news-article.aspx?ID=15901590

    WHAT’S ON THE HORIZON FOR COMMERCIAL CLAIMS?

    Apr 10, 2019

    For years, personal lines has offered digital claims capabilities that have transformed the way consumers interact with insurers – all the while, commercial lines has been left in the dust  … or has it? Claims tech is poised to transform commercial lines, but is it in the way that ...

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    https://Policy.report/news-article.aspx?ID=15911591

    HYRECAR RENEWS AUTO INSURANCE PARTNERSHIP WITH THE HARTFORD SUBSIDIARY

    Apr 10, 2019

    Carsharing marketplace HyreCar has renewed its partnership with Y-Risk, a brand of The Hartford, to offer drivers a comprehensive insurance program. The renewed insurance program was previously underwritten by Y-Risk on behalf of AIG. In 2018, Y-Risk was acquired by The Hartford. According to a rele...

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    https://Policy.report/news-article.aspx?ID=15921592

    CROSS INSURANCE PARTNERS WITH CONNECTICUT’S DIMATTEO INSURANCE

    Apr 10, 2019

    Cross Insurance, a subsidiary of Cross Financial Corp. based in Bangor, Maine, has partnered with DiMatteo Insurance of Shelton, Conn. The DiMatteo family-owned agency handles all lines of business including employee benefits. Kim DiMatteo started working in the family insurance business in 1991 and...

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    https://Policy.report/news-article.aspx?ID=15981598

    AMERICAN FAMILY ANNOUNCES PARTNERSHIP TO OFFER SMART-HOME PROTECTION

    Apr 09, 2019

    American Family Insurance has announced a partnership with UK start-up Neos to help US customers proactively protect their homes using smart-home technology. The partnership is the first of its kind for a US insurer, according to American Family. “This value-added approach aligns with American...

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    https://Policy.report/news-article.aspx?ID=15781578

    DISTINGUISHED PROGRAMS ACQUIRES PROHOST USA

    Apr 09, 2019

    National insurance program manager Distinguished Programs has announced that it has acquired ProHost USA, a Minneapolis-based specialty insurance program for restaurants and related risks. Distinguished currently offers umbrella coverage for the restaurant industry. The company said that adding ProH...

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    https://Policy.report/news-article.aspx?ID=15791579

    DIABETES RELIEF'S PROGRAMS CAN REDUCE COSTS TO INSURANCE PAYERS

    Apr 09, 2019

    AngioSoma, Inc. (OTC:SOAN) is concerned that economic costs of diabetes in the USA were $327 BILLION in 2017, as reported by the American Diabetes Association. Of that total, $98 BILLION was spent on diabetic hospital admissions and $10.9 BILLION on diabetic neuropathy alone. Diabetes Relief's p...

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    https://Policy.report/news-article.aspx?ID=15801580

    GFT SHOWCASES INNOVATIVE STREAMING ANALYTICS SOLUTION TAILORED FOR THE AUTO INSURANCE INDUSTRY

    Apr 09, 2019

    GFT, the global IT engineering and technology specialist for the financial services industry, today extends their collaboration with Google Cloud via its Flexible Personalized Insurance (FPI) solution. Premiering at Next '19 in San Francisco, April 9–11, 2019, the FPI demo leverages GFT St...

    NEWSWIRE
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    https://Policy.report/news-article.aspx?ID=15811581

    GEICO LETS THE DOGS OUT IN NEW ANTI-DISTRACTED DRIVING CAMPAIGN

    Apr 08, 2019

    You cannot teach an old dog new tricks, but GEICO’s new ad campaign thinks dogs can teach humans to stop using their phones while driving. The insurer has launched a new spot that humorously depicts dogs being trained to put down or even take away drivers’ phones, to prevent distracted d...

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    https://Policy.report/news-article.aspx?ID=15681568

    ONTARIO INSURER SAYS HARSH WINTER LED TO SPIKE IN HOME AND AUTO CLAIMS

    Apr 08, 2019

    An insurance company in northern Ontario has reported a noticeable year-over-year increase in winter-related home and auto claims in the region. Cambrian Insurance manager of claims Lisla Beaton said that it got a lot of calls from clients filing claims after experiencing snow and/or ice build-up on...

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    https://Policy.report/news-article.aspx?ID=15691569

    ONTARIO-BASED BUSINESS DEVELOPMENT CENTRE HOLDS FIRST INSURTECH HACKATHON

    Apr 08, 2019

    Northwestern Ontario has hosted its first insurtech hackathon, drawing ideas from some of the most promising minds in the region. The event, “Hack IT,” was held in Thunder Bay from March 29-30 in Lakehead University’s student business incubator hub, Ingenuity. Hack IT was organized...

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    https://Policy.report/news-article.aspx?ID=15701570

    STARR APPOINTS CAPITANO TO LEAD PRIMARY GENERAL CASUALTY-RISK MANAGEMENT

    Apr 08, 2019

    Starr Insurance Companies has named Carmella Capitano, senior vice president, as head of primary general casualty-risk management and excess casualty. In this new role, Capitano will lead a team serving organizations with revenues of $400 million or more. She will also lead Starr’s excess casu...

    INSURANCE JOURNAL
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    https://Policy.report/news-article.aspx?ID=15711571

    DELTA INSURANCE LAUNCHES NEW CYBER INSURANCE AND SECURITY PACKAGE

    Apr 08, 2019

    Specialist insurer Delta Insurance has launched a cyber-protection and insurance product for businesses and their employees and customers across the Asia-Pacific region, in partnership with global cybersecurity firm DynaRisk. The new product will be managed and marketed from Delta Insurance’s ...

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    https://Policy.report/news-article.aspx?ID=15721572

    SHOULD INSURANCE BROKERS CONSIDER AN MBA?

    Apr 06, 2019

    Ongoing education is critical to the long-term success of any broker and many consider undertaking an MBA in order to improve their value proposition and reach greater career heights. However, taking on an MBA can be an intimidating prospect for brokers who are often overworked and under pressure &n...

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    https://Policy.report/news-article.aspx?ID=15611561

    GALLAGHER CONGRATULATES SPECIAL OLYMPICS TEAM AUSTRALIA

    Apr 06, 2019

    Insurance broker Gallagher has congratulated the Australian athletes who competed in the 2019 Special Olympics World Games held in Abu Dhabi in the Arab Emirates. Gallagher takes care of the insurance needs of Special Olympics Australia. In the United States, the company also raised US$30,000 to all...

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    https://Policy.report/news-article.aspx?ID=15621562

    INSURANCE START-UPS SET NEW RECORD

    Apr 05, 2019

    Venture funding for insurance and insurtech companies hit record numbers last year, according to a new report. Crunchbase’s report found that US insurance and insurtech start-ups raised just over $2.5 billion in 2018 – more than double the amount raised in 2017. 2018 also saw the total g...

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    https://Policy.report/news-article.aspx?ID=15581558

    THE CO-OPERATORS ACQUIRES CREDIT UNION ADVANTAGE INSURANCE BROKERAGE

    Apr 05, 2019

    The Co-operators has reached an agreement with Central 1 Credit Union to purchase Credit Union Advantage Insurance Brokerage (CUAIB). Alongside this deal, The Co-operators subsidiary CUMIS will become the insurer for coverages underwritten by CUPP Services upon expiry of the current policy terms. A ...

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    https://Policy.report/news-article.aspx?ID=15591559

    HUB ACQUIRES MISSISSIPPI-BASED INSURANCE FIRM

    Apr 05, 2019

    Hub International Limited has announced that it has acquired the assets of M.B.I. Group. The Mississippi-based company will join Hub International Gulf Coast. Terms of the transaction were not disclosed. M.B.I. Group is an independent insurance firm offering personal lines, including real estate, au...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=15601560

    QBE SEEKS INSURANCE RESTORATION SERVICES PARTNERS

    Apr 02, 2019

    QBE Insurance Australia has launched a request for proposal (RFP) for the provision of insurance restoration services across its personal and commercial lines. The move follows last year’s call for the establishment of building repair services and end-to-end heavy vehicle repair network, as th...

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    https://Policy.report/news-article.aspx?ID=15521552

    WILLIS TOWERS WATSON ACQUIRES HEALTHCARE FIRM TRANZACT

    Apr 01, 2019

    Willis Towers Watson (WTW) has acquired the direct-to-consumer healthcare organization TRANZACT. A release revealed that the total purchase price of the transaction is $1.2 billion in closing consideration; with an additional potential earn-out of up to $200 million payable in either cash or stock i...

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    https://Policy.report/news-article.aspx?ID=15481548

    WITH EVOLUTION IN CYBERCRIME, BROKERS' ROLES ARE MORE COMPLEX AND CRITICAL

    Apr 01, 2019

    Negative search engine optimization, crypto-jacking, and new dominant strains of ransomware are just some of the cyber threats facing businesses today, and as these emerging risks continue to evolve, cyber insurers are trying to keep up in providing effective expertise. “Cybercrime has just ac...

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    https://Policy.report/news-article.aspx?ID=15491549

    BENEFITFOCUS EXPANDS PLATFORM TO OFFER P&C COVERAGE

    Apr 01, 2019

    Benefitfocus, a provider of management software for the benefits industry, has expanded its proprietary platform, which now features personal lines insurance offerings on top of employee benefits. Personal lines insurance, which includes auto and renters’ coverage, is now available to brokers ...

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    https://Policy.report/news-article.aspx?ID=15501550

    ARCHWAY INSURANCE EXPANDS EASTERN NB FOOTPRINT WITH ACQUISITION

    Apr 01, 2019

    Archway Insurance, one of the fastest growing insurance brokerages in Atlantic Canada, has announced another acquisition that will expand its footprint in eastern Canada. Effective April 01, Hall & Fairweather Insurance in Saint John, New Brunswick, will become part of the Archway family. The de...

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    https://Policy.report/news-article.aspx?ID=15511551

    HDI GLOBAL SPECIALTY TO SET UP NEW GENERAL AVIATION TEAM IN AUSTRALIAS

    Mar 30, 2019

    New specialty lines insurer HDI Global Specialty has tapped a 20-year insurance veteran to start a general aviation business in Australia. Former QBE aviation manager Jamie Bowes joins HDI Global Specialty to oversee the creation of the new Melbourne-based aviation team, which is expected to grow ov...

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    https://Policy.report/news-article.aspx?ID=15381538

    EML TEAMS UP WITH NSW EMERGENCY SERVICES TO IMPROVE FIRST RESPONDER MENTAL HEALTH

    Mar 30, 2019

    EML has hosted the First Responders PTSD Forum in a bid to continually improve first responder recovery from psychological injury. The forum, attended by guest speaker Associate Professor Sam Harvey from the Black Dog Institute, brought together HR professionals, claims managers, and injury manageme...

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    https://Policy.report/news-article.aspx?ID=15391539

    BIZCOVER INTRODUCES NEW REVOLUTIONARY COVER

    Mar 30, 2019

    A revolutionary first-of-its kind product has been launched to cover small businesses from unforeseen or cataclysmic changes in government policy – be it tax increases, more red-tape, or more regulation. With BizCover’s new government interruption insurance, small business owners will no...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=15401540

    ALLIANZ ON HOW BROKERS CAN HELP CLIENTS MINIMISE RISK

    Mar 29, 2019

    Brokers can help their clients by stressing the importance of regular maintenance and inspection regimes to help minimise the risk of accidents.” Those were the words of Allianz Engineering, Construction & Power chief engineer Glyn Amphlett when the Allianz unit released its latest inspect...

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    https://Policy.report/news-article.aspx?ID=15411541

    CLOSED START-UP TO END CUSTOMERS INSURANCE COVERAGE AFTER APRIL

    Mar 29, 2019

    It seems like only yesterday when British start-up Kinsu completed a successful second round of funding and expanded its roster with senior hires. Now the insurtech – which provided protection for phones, bicycles, and home contents – is saying goodbye. “After an awesome year of fu...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=15421542

    SOUTHERN CROSS HEALTH SOCIETY LAUNCHES WELLBEING CAMPAIGN

    Mar 29, 2019

    New Zealand insurer Southern Cross Health Society has launched a new campaign encouraging Kiwis to ease the impacts of modern life through active use of lunch breaks to benefit their wellbeing. The new campaign, Lunch Well, addresses how important breaks are for both mental and physical wellbeing. I...

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    https://Policy.report/news-article.aspx?ID=15281528

    ALERA GROUP SNAPS UP PROMINENT NY MED-MAL BROKER

    Mar 28, 2019

    National insurance firm Alera Group has announced the acquisition of prominent medical malpractice insurance and reinsurance broker Phalanx Healthcare Solutions. Based in New York, Phalanx provides medical malpractice insurance for healthcare facilities, large physician groups, and individual physic...

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    https://Policy.report/news-article.aspx?ID=15291529

    UNICA INSURANCE JOINS FULL PARTNERS OF THE BROKER IDENTITY PROGRAM

    Mar 28, 2019

    The list of insurance companies renewing their support for the Insurance Brokers Association of Canada’s (IBAC) Broker Identity Program (BIP) at the full partner level continues to grow, with the recent addition of Unica Insurance. The BIP is a national advertising campaign that aims to raise ...

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    https://Policy.report/news-article.aspx?ID=15301530

    DATA BREACH EXPOSES THOUSANDS OF MEDICAL MARIJUANA PATIENTS DATA

    Mar 28, 2019

    A Canadian medical cannabis company has revealed that the information of about 34,000 patients may have been exposed in a data breach incident. Sunniva explained that the electronic medical record system used by its subsidiary, Natural Health Services (NHS), had been breached. Patients were informed...

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    https://Policy.report/news-article.aspx?ID=15311531

    ARTIFICIAL INTELLIGENCE IN UNITED STATES INSURANCE INDUSTRY - FORECAST TO 2025: A $2.62 BILLION OPPORTUNITY

    Mar 28, 2019

    The "United States Artificial Intelligence (AI) in Insurance Industry Databook Series (2016-2025) - AI Spending with 15+ KPIs, Market Size and Forecast Across 6+ Application Segments, AI Domains, and Technology" report has been added to ResearchAndMarkets.com's offering. Artificial Int...

    ODESSA AMERICAN
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    https://Policy.report/news-article.aspx?ID=15321532

    TALENT RETENTION IN INSURANCE: THE KEYS TO SUCCESS

    Mar 27, 2019

    Talent attraction remains an area of concern for the insurance sector, and though the industry has no shortage of seasoned experts with an extensive background across all areas of insurance, an influx of new talent still remains thin on the ground. One thing that most consider when entering a new ro...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=15111511

    HAMILTON INSURANCE GROUP UNVEILS EXECUTIVE SHAKE-UP

    Mar 27, 2019

    There will be some big changes up top at Hamilton Insurance Group. First off, the holding company for insurance and reinsurance operations in Bermuda and at Lloyd’s announced that Hamilton at Lloyd’s chief executive Dermot O’Donohoe, who came onboard in 2015, is leaving the post fo...

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    https://Policy.report/news-article.aspx?ID=15181518

    DITCHING THE INSURANCE DISINTERMEDIATION HYPE

    Mar 27, 2019

    There’s a lot of white noise in the insurance industry around the notion of technology-driven disintermediation. Traditional brokers are having to navigate an increasingly busy playing field, competing against fast-emerging insurtech firms and direct-to-consumer carrier solutions. Some naysaye...

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    https://Policy.report/news-article.aspx?ID=15191519

    AVIVA CANADA REVEALS HUGE CROSS-BORDER DEAL WITH THE HARTFORD

    Mar 27, 2019

    Aviva Canada has today announced a huge cross-border deal with leading US insurer, The Hartford. Under the new strategic partnership, Aviva Canada’s small & medium enterprise (SME) and large commercial insurance brokers and clients will gain access to The Hartford’s operations, asset...

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    https://Policy.report/news-article.aspx?ID=15201520

    CANNABIS INSURANCE: A GROWING OPPORTUNITY FOR BROKERS

    Mar 27, 2019

    The legalization of marijuana in Canada has been a boon for countless businesses – cannabis producers, hydroponics suppliers, retailers – and the insurance industry has not been left out of the fun. It’s not every day that a new industry, one loaded with potential exposures, drops ...

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    https://Policy.report/news-article.aspx?ID=15211521

    CANADIAN INSURTECH FINAEO RAISES $5.35 MILLION IN LATEST FUNDING ROUND

    Mar 27, 2019

    Finaeo, a Toronto-based start-up, has raised $5.35 million in seed funding. The latest funding round was led by Luge Capital, followed by RGAX, Rising Tide Fund, Inovia Capital, and AngelList partner Alex Norman. The round also saw follow-on investments from Impression Ventures and iGan Partners. Fi...

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    https://Policy.report/news-article.aspx?ID=15221522

    SCHEMESERVE ANNOUNCES MAJOR APPOINTMENT AMID WORKFORCE GROWTH

    Mar 26, 2019

    SchemeServe, which has more than doubled its headcount in 12 months, has announced the arrival of an engineering and UX (user experience) head. Tapped to lead the software house’s expanding team of developers, Simon Cowling joins from Cre8ion. The former digital head also brings experience fro...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=15081508

    BERKELEY PROFESSIONAL LIABILITY UNVEILS NEW INVESTMENT INSURANCE PRODUCT

    Mar 26, 2019

    Berkeley Professional Liability is now offering a new primary management liability product for investment advisors and funds. The policy, designed to be a “flexible solution to meet the growing needs of financial institutions,” has a range of coverage options, such as investment adviser ...

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    https://Policy.report/news-article.aspx?ID=15091509

    PREPARING FOR THIS CENTURIES-OLD RISK IS MORE CRITICAL NOW THAN EVER IN CANADA

    Mar 26, 2019

    Wildfires have impacted Canada for thousands of years and until 2003, insured losses from these events remained relatively low. Since that fateful year however, when a fire in Kelowna, BC led to $254 million (in today’s dollars) in insurance payouts, losses from wildfires have been rising shar...

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    https://Policy.report/news-article.aspx?ID=15101510

    MARSH RELEASES FIRST OF ITS KIND PROGRAM

    Mar 26, 2019

    Marsh has announced the release of a new program that brings together a host of top insurers from across the industry to help organizations manage their cyber risk. The first group of insurers taking part includes Allianz, AXIS, AXA XL (a division of AXA), Beazley, CFC, Munich Re, Sompo Internationa...

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    https://Policy.report/news-article.aspx?ID=15121512

    EUROPEAN COMMISSION CLEARS MMC-JLT TAKEOVER

    Mar 25, 2019

    Remember when it was revealed earlier this month that the global aerospace operations of Jardine Lloyd Thompson Group Plc (JLT) will be sold to Arthur J. Gallagher & Co. (AJG)? The deal came to life to address competition concerns raised by the European Commission, which has now approved Marsh &...

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    https://Policy.report/news-article.aspx?ID=14981498

    AUTO INSURER HIT WITH POSSIBLE DATA BREACH

    Mar 25, 2019

    The personal information of several customers of auto insurer Bridger Insurance Services may have been exposed by a data breach last year. The insurer became aware of the incident when it noticed unusual access on one of its servers by a third-party IT provider in September 2018. According to Bridge...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14991499

    HOW THE RISE IN BLOCKCHAIN IS CHALLENGING INSURANCE

    Mar 25, 2019

    Blockchain and the internet of things (IoT) are impacting understandings of data ownership and bringing benefits to certain industries, though the uses of these technologies are also shifting the conversation around cyber liability and privacy. When it comes to blockchain and other forms of distribu...

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    https://Policy.report/news-article.aspx?ID=15001500

    PURE INSURANCE NAMED BEST UNDERWRITER

    Mar 25, 2019

    The PURE Insurance Group of Companies, which includes Privilege Underwriters Reciprocal Exchange (PURE), a policyholder-owned property-and-casualty insurer for high-net-worth individuals and families, has been named best insurance underwriter by the Family Wealth Report Awards for the fourth year in...

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    https://Policy.report/news-article.aspx?ID=15011501

    CANADIANS SHOULD NOT BE PAYING AS MUCH AS THEY DO FOR INSURANCE

    Mar 25, 2019

    Aviva’s Canadian operations were far from the golden child when the company’s full-year financial results came out on March 07. While the group’s operating profits rose to £3,116 million (around CA$5.51 billion) from the previous year, they remained the same year-to-year in C...

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    https://Policy.report/news-article.aspx?ID=15021502

    VOLVO CARS LAUNCHES NEW INITIATIVE, EYEING INSURANCE PARTNERSHIPS

    Mar 23, 2019

    Swedish car manufacturer Volvo has launched a new standard for all its cars, and is planning to partner with insurance companies to offer special premiums to those using the feature. Care Key allows any Volvo buyer to set a speed limit for themselves, their family members or friends. It will come as...

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    https://Policy.report/news-article.aspx?ID=14901490

    SUNCORP BEGINS REBUILDING PHASE IN FLOOD-RAVAGED TOWNSVILLE

    Mar 23, 2019

    Suncorp has announced that it is on track to complete all home assessments this month and that rebuilding works are now well under way, less than two months after catastrophic floods inundated the Townsville region. The insurer has so far completed 98% of motor-claims assessments and 92% of commerci...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14911491

    ICA TO HOST SECOND INSURANCE FORUM FOR HAILSTORM-IMPACTED POLICYHOLDERS

    Mar 23, 2019

    The Insurance Council of Australia (ICA) will host its second insurance forum in Berowra in early April, to provide claims guidance to those affected by the Dec. 20 hailstorm. The event, to be held on April 2, from 6pm-8pm, will provide policyholders the opportunity to meet face-to-face with insuran...

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    https://Policy.report/news-article.aspx?ID=14921492

    BROKERS ON INSURERS SURVEY: ONLY ONE DAY LEFT

    Mar 22, 2019

    Entries are about to close for the seventh annual Brokers on Insurers survey. Any brokers who have yet to take part are urged to do so by the end of the day today (Friday, March 22). After that, no further submissions will be accepted. Brokers can rate the major insurers they deal with on key areas ...

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    https://Policy.report/news-article.aspx?ID=14821482

    AON: CANADIAN REAL ESTATE INDUSTRY CONTINUES TO BE SEVERELY AFFECTED BY CLAIMS

    Mar 22, 2019

    Aon’s latest report on the state of the insurance market for the real estate industry has found that water and fire damage remain major drivers of insurance claims and losses for the sector. The report suggests that declining insurance rates these past couple of years have put insurers in a ti...

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    https://Policy.report/news-article.aspx?ID=14881488

    PROPERTY TELEMATICS PROGRAMS ARE A WIN-WIN FOR INSUREDS AND THEIR INSURERS

    Mar 22, 2019

    To a property, water damage can be deadly. In 2017, insurance payouts for water damage totaled $13 billion, with the average claim cost hovering around $10,000. The insurance industry isn’t sitting idly by as non-weather-related water damage threatens homeowners and businesses – partners...

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    https://Policy.report/news-article.aspx?ID=14891489

    LOSSMAKING RIDESHARING COMPANY LOOKS TO SLASH INSURANCE COSTS

    Mar 21, 2019

    Following news that it had spent nearly a billion dollars to self-insure itself, ridesharing company Lyft has announced that it is looking to lower its insurance costs. The company revealed its plans to investors during an IPO roadshow just a week before Lyft’s initial public offering, Reuters...

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    https://Policy.report/news-article.aspx?ID=14781478

    BIGGEST EVER DIVE IN EVENT TO EXPAND TO OVER 30 COUNTRIES

    Mar 21, 2019

    It looks like there’s no slowing down the annual Dive In festival. You’d think last year’s massively successful edition would be hard to beat, but this early Dive In 2019 is promising to be an even larger gathering. From 26 nations previously, this time around the insurance industr...

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    https://Policy.report/news-article.aspx?ID=14791479

    DBRS GIVES ITS TAKE ON THE UNIVERSAL LIFE INSURANCE INVESTMENT CONTROVERSY

    Mar 21, 2019

    Following the recent ruling of a provincial court over the controversial case regarding the use of universal life insurance policies as investment vehicles, credit rating agency DBRS has issued a statement supporting the decision. Last week, the Court of Queen’s Bench for Saskatchewan dismisse...

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    https://Policy.report/news-article.aspx?ID=14801480

    ECONOMICAL MOVES ONE STEP CLOSER TO BECOMING A PUBLIC COMPANY

    Mar 21, 2019

    Economical Insurance hit a big milestone on the journey to becoming a public company after 99% of eligible mutual policyholders of the company voted in favour of moving forward with the demutualization process during a meeting on March 20. “We are the first Canadian property and casualty compa...

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    https://Policy.report/news-article.aspx?ID=14811481

    WESTPAC GROUP ANNOUNCES CHANGES IN WEALTH AND INSURANCE DIVISIONS

    Mar 20, 2019

    Westpac Group has made a number of changes to better support its customers’ wealth and insurance needs, while responding to the changing external environment. The group realigned its major BT Financial Group (BTFG) businesses, with its insurance business to be moved to its consumer division, w...

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    https://Policy.report/news-article.aspx?ID=14701470

    SGI TO CONDUCT STUDY ON IMPAIRED DRIVING

    Mar 19, 2019

    To gain better insight on Saskatchewan’s impaired driving problem, Saskatchewan Government Insurance (SGI) is conducting a study – and it needs a partner company. At present, the insurer relies on data collected from local police, the coroner’s office and the semi-annual traffic sa...

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    https://Policy.report/news-article.aspx?ID=14711471

    BEAZLEY BEEFS UP CYBER COVERAGE FOR UK FIRMS

    Mar 19, 2019

    Committed to providing user-friendly policies, Beazley has made things simpler for UK businesses looking to take out comprehensive cyber insurance. The specialist insurer has streamlined the forms for both its Beazley Breach Response (BBR) and InfoSec offerings. BBR has a proposition designed for sm...

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    https://Policy.report/news-article.aspx?ID=14721472

    WHY NO INSURER WANTED TO GO NEAR FYRE FEST

    Mar 19, 2019

    Fyre Fest. The infamous festival that spawned a thousand memes, and left the world obsessed from the influencer promo video start, to the documentary film finish. For those not in the know, Fyre as it became known, was the brainchild of US entrepreneur Billy McFarland. The man behind a number of fai...

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    https://Policy.report/news-article.aspx?ID=14621462

    BERKSHIRE HATHAWAY SPECIALTY INSURANCE ROLLS OUT NEW OFFERING

    Mar 19, 2019

    To say that Berkshire Hathaway Specialty Insurance (BHSI) has been busy in the UK and Ireland recently is perhaps an understatement. The major specialty insurer, whose new offerings of late include property construction coverage and transactional liability insurance, has another fresh rollout for th...

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    https://Policy.report/news-article.aspx?ID=14681468

    TRISURA GUARANTEE CONTINUES TO SUPPORT BROKER IDENTITY PROGRAM

    Mar 19, 2019

    The Insurance Brokers Association of Canada (IBAC) has announced that another insurance company has furthered its backing of the Broker Identity Program (BIP) at full partner level: Trisura Guarantee Insurance. Much like the other insurers that have pledged their full partner support for the BIP, Tr...

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    https://Policy.report/news-article.aspx?ID=14691469

    FINAL WEEK TO TAKE PART IN BROKERS ON INSURERS SURVEY

    Mar 19, 2019

    Entries are still open for the seventh annual Brokers on Insurers survey – but they must close at the end of the week. Any brokers who have yet to take part are urged to do so as soon as possible, rating the major insurers they deal with on key areas such as BDM support, turnaround times and c...

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    https://Policy.report/news-article.aspx?ID=14581458

    IBC INSURANCE PREMIUM AFFORDABILITY CAMPAIGN ERRONEOUSLY USES OLD DATA

    Mar 18, 2019

    An insurance industry association has called out Newfoundland and Labrador’s (NL) costly auto insurance for being more expensive than other provinces - but an investigation has discovered that it has been using outdated information. The Insurance Bureau of Canada (IBC) has long criticized NL&r...

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    https://Policy.report/news-article.aspx?ID=14591459

    DISPLACED ONTARIO RESIDENTS RETURN TO FLOOD-DAMAGED HOMES

    Mar 18, 2019

    Residents of an Ontario community who were displaced by flooding have finally returned to their homes – but not before the floodwater took its toll on several of their properties. The community of Bolton in Caledon, Ontario was recently beset by floodwater from the Humber River after six ice j...

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    https://Policy.report/news-article.aspx?ID=14601460

    UK INSURERS ARE WELL-PREPARED FOR BREXIT – AM BEST

    Mar 18, 2019

    Insurers in the UK are generally well-prepared for Brexit, according to a new report by ratings agency AM Best. The terms of the United Kingdom’s withdrawal from the European Union are still uncertain following the defeat in Parliament of the deal agreed upon by the EU and UK Prime Minister Th...

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    https://Policy.report/news-article.aspx?ID=14611461

    DBS HIRES FORMER BANK OF SINGAPORE EXEC FOR INSURANCE ROLE

    Mar 16, 2019

    DBS has hired former Bank of Singapore (BoS) banker Lee Woon Shiu to head the wealth planning, family office, and insurance business of its private bank, effective March 18. In his new role, Lee will be in charge of growing the bank’s wealth planning, family office and insurance offerings, as ...

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    https://Policy.report/news-article.aspx?ID=14521452

    MCLARENS ACQUIRES US-BASED ENVIRONMENTAL CONSULTANCY FIRM

    Mar 15, 2019

    Independent insurance services provider McLarens has acquired American Environmental Group (AEG). AEG offers a range of indoor air quality testing and environmental consulting services for the insurance industry. The environmental consultancy firm also serves environmental remediation and restoratio...

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    https://Policy.report/news-article.aspx?ID=14481448

    MPI: EARLY 2019 NUMBERS SUGGEST A REDUCTION IN FATAL CRASH CASES

    Mar 15, 2019

    Manitoba Public Insurance (MPI) has reported a considerable drop in the number of people killed in vehicular crashes on provincial roads for the first few months of 2019. According to the insurer, five people in Manitoba died in crashes during the first two months of the year. In comparison, the ave...

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    https://Policy.report/news-article.aspx?ID=14491449

    FRISS EXPANDS LEADERSHIP TEAM FOR NORTH AMERICA

    Mar 15, 2019

    FRISS, a provider of fraud and risk analytics for the property and casualty insurance industry, has announced the appointment of Jim Murphy as vice president of products for North America. In his new role, Murphy will drive the company’s North American product strategy. Murphy brings to the ro...

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    https://Policy.report/news-article.aspx?ID=14501450

    INSURANCE LEADER ‘ASTOUNDED’ WITH RESULTS OF WOMEN’S LEADERSHIP LAB

    Mar 15, 2019

    Nike hit the bullseye when it came up with the world-famous ‘Just Do It’ mantra in 1988. For three decades, the iconic phrase has been a motivational call for athletes around the world … and now it’s the turn of women in insurance. On May 07, Insurance Business Canada is hos...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14511451

    MALAYSIA’S INSURANCE INDUSTRY TO HAVE MUTED GROWTH PROSPECTS IN 2019

    Mar 15, 2019

    Malaysia’s insurance market is expected to remain stable throughout 2019, according to an industry report released by RAM Ratings. According to RAM, general insurance premiums are expected to remain stagnant amid the progressive impact of tariff liberalisation and a slowdown in the country&rsq...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14381438

    ZURICH BOOSTS CAPACITY IN M&A INSURANCE

    Mar 15, 2019

    A major Australian insurer has forged a new underwriting agency partnership that will boost its capacity in the mergers and acquisition (M&A) insurance space. Zurich Australia has teamed up with Fusion Specialty Insurance (Fusion M&A), a subsidiary of POP Insurance Holdings focussed on suppo...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14411441

    ALLIANT HIRES P&C EXPERT TO SERVE AS NEW VICE-PRESIDENT, PRODUCER

    Mar 14, 2019

    Alliant has welcomed Adam Glenn as its newest vice-president, producer. Glenn – a Dallas-based property and casualty specialist – will offer a suite of diversified insurance services and solutions to clients across the Southwest as part of his new responsibilities at Alliant, a release s...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14421442

    TOPA INSURANCE TAPS GRIFFARD AS DIRECTOR OF FINANCIAL PLANNING AND ANALYSIS

    Mar 14, 2019

    Topa Insurance Company has announced the appointment of Geoffrey Griffard as its director of financial planning and analysis. In his new role, Griffard will analyze the company’s financial results, including profitability of current and future lines of business and programs. He will also help ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14391439

    INSURANCE INSTITUTE OF CANADA UPDATES PROGRAMMING IN RESPONSE TO INDUSTRY TRENDS

    Mar 14, 2019

    The Canadian insurance industry is undergoing rapid changes, from the tech-focused skills of the talent pool that’s coming into the space to evolutions in the marketplace that are diverting insurance professionals into new areas within the industry. To keep up with these developments, the Insu...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14401440

    SAMSUNG LIFE MULLS 20% STAKE IN VIETNAM’S BAO VIET

    Mar 14, 2019

    Yet another South Korean insurer is eyeing an investment in the fast-emerging market of Vietnam, with Samsung Life considering purchasing 20% of Bao Viet Life. The life insurance arm of the giant Korean conglomerate said that it is currently in negotiations to buy one-fifth of Bao Viet, but has refu...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14291429

    WHAT’S THE MOST SEARCHED FOR INSURANCE PRODUCT IN THE UK?

    Mar 13, 2019

    Did you know that the most searched type of insurance product among insurance brokers in England, Scotland and Wales in the last year was cyber insurance, but in Northern Ireland it was cargo and transit? That’s according to insurr, a specialised online search engine designed specifically for ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14301430

    IS THIS THE KEY TO INSURANCE AGENCIES WORKING ANYWHERE IN THE WORLD?

    Mar 13, 2019

    From phone systems and video chatting to management systems and data security, technology at work behind-the-scenes at insurance agencies is taking big steps forward, while giving a leg-up to insurance professionals. The integration of multiple third-party services that allow for seamless scanning o...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14311431

    RIDESHARING COMPANY SPENDS NEARLY $1 BILLION TO SELF-INSURE

    Mar 13, 2019

    Documents filed with the federal securities agency reveal that ridesharing company Lyft has spent nearly a billion dollars to essentially insure itself against certain risks. A prospectus recently filed by Lyft with the US Securities and Exchange Commission detailed that the company has established ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14321432

    GALLAGHER URGES BUSINESSES TO INVEST IN THEIR CYBERSECURITY

    Mar 13, 2019

    Insurance broker Gallagher is urging business owners to invest in safeguarding their enterprises, following new research identifying the industries targeted by cybercriminals globally. According to the Verizon 2018 Data Breach Investigations Report, accommodation, education, finance, healthcare, inf...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14181418

    CHINA COULD TAKE THE US’S SPOT AS LARGEST INSURANCE MARKET BY THE 2030S

    Mar 13, 2019

    China could surpass the US and take the title of world’s largest insurance market (in terms of premium volumes) in around 15 years, according to analysts. This is expected to happen in the mid-2030s, due to the steady pace of growth by the Chinese insurance market, said a report by Caixin, whi...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14211421

    RACQ SPONSORS PROGRAM FOR TEEN DRIVERS

    Mar 13, 2019

    RACQ has partnered with Former Origin Greats (FOGs) to help indigenous students secure their licence, and become safe and responsible drivers. The motoring group and insurance provider will donate $60,000 a year over the next two years to FOGs’ ARTIE Academy Drivers Licence Program, to help st...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14281428

    NEW HHIB HIRE ON WHY HE IS EXTREMELY EXCITED AND PROUD

    Mar 12, 2019

    H&H Insurance Brokers (HHIB), which arranges a broad portfolio of insurances for the likes of farmers and agricultural contractors, has tapped what seems to be a ‘triple threat’ hire in the form of Dylan Jones (pictured). First off, the new HHIB account executive brings first-hand pe...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14191419

    HUB SCOOPS MARYLAND AGENCY

    Mar 12, 2019

    Hub International Limited has announced the acquisition of The Insurance Exchange, a Maryland-based insurance agency. Terms of the transaction were not disclosed. The Insurance Exchange is one of the largest independent insurance agencies in the Mid-Atlantic region. It provides products and services...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14201420

    INSURANCE IS MORE THAN A COMMODITY

    Mar 11, 2019

    Ben D. Smith‘s foray into insurance started when he realized banking was not the long-term career for him, shortly out of college. With his finance degree from Texas Tech University and his prior business experience, he decided to pursue a production-minded insurance role. Twenty-five years la...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14221422

    WHAT IS PRIZE INDEMNITY INSURANCE?

    Mar 11, 2019

    Prize indemnity insurance, sometimes referred to as hole-in-one insurance, is indemnification insurance for a promotion in which participants are offered the chance to win prizes. It gives companies the ability to offer special contests and promotions with attractive prizes like cars, vacations, and...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14081408

    ARGO-VOCE CONTINUE DISPUTE

    Mar 11, 2019

    It looks like last month’s release of a nearly 6,700-word long letter from Voce Capital Management LLC was just the beginning of the tussle between Argo Group International Holdings, Ltd. and its activist shareholder. In February Insurance Business brought you the assertions from the two camps...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14091409

    PROVINCIAL ENERGY EFFICIENCY PROGRAM TO IMPLEMENT LIST OF APPROVED CONTRACTORS

    Mar 11, 2019

    PEI’s energy efficiency initiative will soon roll out a list of approved contractors that homeowners will have to choose from if they want to take advantage of any rebates. To make that list, however, contractors will need the appropriate insurance, among other requirements. Efficiency PEI, a ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14101410

    ZURICH CEO IN LINE FOR MASSIVE PAY BOOST

    Mar 11, 2019

    Zurich Insurance Group’s CEO will be eligible for a 13.4 million Swiss franc (around CA$17.8 million) payout when his shares are unlocked next month. Shares worth about 8.2 million francs, granted to CEO Mario Greco as part of a company incentive program, will vest in April, raising the execut...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14111411

    AVIATION INSURANCE PREMIUMS MAY RISE BY 15% DUE TO ETHIOPIAN AIRLINES CRASH

    Mar 11, 2019

    Airlines could face a 10-15 percent increase in insurance premiums following the Ethiopian Airlines crash on March 10 that led to the loss of 157 lives. While Indian insurance companies are said to have a 'minimal exposure', frequent accidents have led to tighter pricing for aviation insuran...

    MONEYCONTROL
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    https://Policy.report/news-article.aspx?ID=14121412

    AVIVA ASIA REGISTERS 24% RISE IN OPERATING PROFIT

    Mar 08, 2019

    Aviva Asia has announced its financial results for 2018, bannered by a 24% increase in operating profit to £133 million (SG$236.8 million). In a statement by the UK-based multinational insurer, it attributed the growth in operating profit to higher contribution from its key businesses across t...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13891389

    JA ASSURE LAUNCHES ONLINE PORTAL FOR MEDICAL MALPRACTICE COVER

    Mar 08, 2019

    JA Assure has started offering medical malpractice insurance in Malaysia, available through its online platform. With the launch, healthcare professionals can now easily purchase their indemnity insurance online, a statement said. Through its website, clients can receive a free quotation for the amo...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13901390

    LOCKTON HIRES CORRIGAN AS COO FOR ASIA

    Mar 08, 2019

    Lockton has hired Philip Corrigan as chief operating officer for Asia, as part of its efforts to expand in the fastest growing insurance region in the world. According to a statement by Lockton, Corrigan will lead a fast-growing team across the firm’s offices in the following Asia-Pacific mark...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13921392

    BRUNEL INSURANCE BROKERS REVEALS GLENTWORTH ACQUISITION

    Mar 08, 2019

    Brunel Insurance Brokers has announced its takeover of Glentworth – a £10 million GWP firm with four offices in the south west of England. The brokerage was purchased for an undisclosed sum. Brunel Group’s CEO, Russell Lane, said that the acquisition was as much about cultural fit ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13991399

    WOMEN NEED TO PUSH HARDER AGAINST THE GLASS CEILING

    Mar 08, 2019

    In an ever-changing workplace, the insurance industry in Canada has made great strides to see increased diversity and inclusion. The past decade has seen a number of female leaders take the helm at some of Canada’s top insurance firms - a few current examples being Lynn Oldfield, president and...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14011401

    UNITED KINGDOM HOME INSURANCE MARKET TRENDS REPORT, 2019 - DIRECT LINE AND AVIVA LEAD THE MARKET - RESEARCHANDMARKETS.COM

    Mar 07, 2019

    Home insurance gross written premiums (GWP) will reach around 7.5 billion in 2018, a rise of around 4% on the previous year. Consumer expenditure, as opposed to GWP, rose by 6.9% in 2018, however, excluding the impact of premium inflation on the figures, then expenditure rose by only 1.4%. Between 2...

    BUSINESS WIRE
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    https://Policy.report/news-article.aspx?ID=14021402

    AXA XL JOINS FORCES WITH INSURTECH TO OFFER CROWDFUNDING PROTECTION INSURANCE

    Mar 07, 2019

    AXA XL is collaborating with Assurely to create a new insurance product for issuers and investors – particularly those engaged in crowdfunding portals. The new CrowdProtector product safeguards new online capital formation strategies, including equity crowdfunding and security token offerings ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=14001400

    AVIVA OUTLINES FULL-YEAR FINANCIAL RESULTS

    Mar 07, 2019

    A mixed bag is the thoroughly uninteresting term that might be used to describe Aviva’s financial results for 2018 – but how else to describe a performance that saw its general and health insurance operating profit remain flat at £704 million (around SG$1.25 billion) – the ex...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13911391

    ARGO GROUP ENTERS INSURANCE NETWORK GBN WORLDWIDE

    Mar 07, 2019

    Argo Group International Holdings, Ltd. has come onboard GBN Worldwide as member and network partner. What this means for the Bermuda-headquartered underwriter is it will gain access to what is described as “an eco-system made up of the world’s leading (re)insurers, independent brokers, ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13881388

    SINGAPORE’S GENERAL INSURANCE MARKET GROWS BY 3.4%

    Mar 06, 2019

    The general insurance sector in Singapore grew by 3.4% in terms of gross written premiums (GWP), amounting to SG$3.81 billion for 2018, according to the General Insurance Association of Singapore (GIA). According to a statement by the GIA, motor insurance achieved a strong recovery in 2018 with a 13...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13781378

    ARTHUR J. GALLAGHER TO PURCHASE GLOBAL AEROSPACE BOOK FROM JLT

    Mar 06, 2019

    Arthur J. Gallagher & Co. (AJG) has reached an agreement to purchase Jardine Lloyd Thompson Group (JLT)’s global aerospace operations. The acquisition will see AJG consume all assets within JLT’s global aerospace retail and wholesale insurance broking division, which includes operati...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13791379

    BREXIT COUNTDOWN: UK REGULATORS SEAL MOUS WITH EIOPA AND EU INSURANCE AUTHORITIES

    Mar 06, 2019

    With about three weeks left before the UK says goodbye to the European Union, a bit of certainty has finally arrived in the form of Memoranda of Understanding (MoUs) between British regulators and EU authorities. In a joint announcement, the Bank of England (BoE) and the Financial Conduct Authority ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13981398

    WHICH COUNTRIES SAW THE BIGGEST SURGE IN CLAIMS PAYMENTS IN 2017?

    Mar 05, 2019

    There are multiple factors that could trigger a surge in insurance claims. The first might simply be growth in a marketplace. If the number of active policies in a country or a specific insurance sector increases, then the number of claims will likely rise in correlation. A second major factor is na...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13801380

    FRANK HEALTH INSURANCE BUILDS VOICE APP TO HELP CONSUMERS GET THE RIGHT ANSWERS TO HEALTH ISSUES

    Mar 04, 2019

    Frank Health Insurance has created a voice app for the Private Health Industry (PHI) category in Australia, built for the Google Assistant. The app, created with the help of WhiteGrey, aims to help consumers easily get the right answers to complicated PHI questions. To get access, users can ask any ...

    THE DRUM
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    https://Policy.report/news-article.aspx?ID=13571357

    AMWINS COMPLETES PURCHASE OF THE FLOOD INSURANCE AGENCY

    Mar 04, 2019

    Global specialty insurer AmWINS Group (AmWINS) has expanded its capabilities in personal and commercial flood insurance with the acquisition of The Flood Insurance Agency (TFIA), a Florida-based managing general agency that specializes in private market flood insurance. TFIA was founded in 1984 and ...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13681368

    CFM INSURANCE ACQUIRES MISSOURI’S CORNERSTONE NATIONAL INSURANCE

    Mar 04, 2019

    CFM Insurance Inc., a mutual insurance company headquartered in Concordia, Missouri, has finalized its acquisition of Cornerstone National Insurance Co., a stock company based in Columbia, Missouri. With this acquisition, many synergies and efficiencies will be created in management, product offerin...

    INSURANCE JOURNAL
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    https://Policy.report/news-article.aspx?ID=13691369

    5STAR LIFE INSURANCE CO. APPOINTS JOSEPH FOX TO ITS BOARD

    Mar 04, 2019

    The 5Star Life Insurance Company announced today that Joseph Fox has been appointed to its Board of Directors effective March 1, 2019. “I am pleased to welcome Joseph Fox to the 5Star Life board of directors. As an esteemed law enforcement leader, his knowledge will be invaluable as we serve t...

    INSURANCENEWSNET
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    https://Policy.report/news-article.aspx?ID=13701370

    GEORGIA HOUSE INSURANCE COMMITTEE ADOPTS DALTON LAWMAKER’S BILL TO PROSECUTE MORE PEOPLE FOR FAKING CAR CRASHES

    Mar 04, 2019

    The Georgia House Insurance Committee has passed state Rep. Kasey Carpenter's bill aimed at prosecuting more people for faking car crashes. Carpenter, R-Dalton, has proposed creating the specific crime of staging a motor vehicle collision. Under the legislation, intentionally crashing your vehic...

    INSURANCENEWSNET
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    https://Policy.report/news-article.aspx?ID=13711371

    KOSIEROWSKI PUSH HEALTH CARE EXPANSION

    Mar 04, 2019

    Democrat Bridget Malloy Kosierowski said Monday she will make expanding health insurance a top priority if she's elected 114th state House District representative in the March 12 special election. Kosierowski, 46, a registered nurse from Waverly Twp., said she would work to preserve the state...

    INSURANCENEWSNET
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    https://Policy.report/news-article.aspx?ID=13721372

    GOVT APPROVES PENSION OPTION FOR OVER RS 42,000 EMPLOYEES OF PSU INSURERSC

    Mar 02, 2019

    In a big bonanza to over 42,000 employees of public sector insurance companies, the government Saturday decided to give one more pension option as retirement benefit to these left over officers and staff who missed the opportunity in the past. This benefit is applicable to those who have joined any ...

    THE FINANCIAL EXPRESS
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    https://Policy.report/news-article.aspx?ID=13591359

    HEALTH INSURANCE MARKET SHARE WORLDWIDE INDUSTRY GROWTH, SIZE, STATISTICS, OPPORTUNITIES & FORECASTS UP TO 2025

    Mar 02, 2019

    Health Insurance Market Share Worldwide Industry Growth, Size, Statistics, Opportunities & Forecasts up to 2025. Health insurance market will experience high growth in upcoming years owing to rising per capita income as well as unproportionate ratio between low and high income people. Increasing...

    MARKET SIZE FORECASTERS
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    https://Policy.report/news-article.aspx?ID=13601360

    INDONESIA PUSHES BACK COAL, PALM OIL INSURANCE REGULATIONS TO MAY

    Mar 02, 2019

    The Indonesian Trade Ministry has delayed the implementation of its controversial regulation that requires coal and palm oil exporters to obtain local insurance cover to May 31, 2019. This latest postponement is the third for the regulation. It was first issued in October 2017, and later slated to c...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13821382

    WHY BROKERS ARE IMPORTANT IN ENSURING CLIENTS DON’T UNDERESTIMATE CYBER RISK

    Mar 01, 2019

    Over half of SMEs across Singapore, Hong Kong and Australia experienced a cyber incident over the last year, according to Chubb’s recent SME survey, but many still underestimate just how significantly an attack can cripple their income and day-to-day operations. According to Chubb’s cybe...

    INSURANCE BUSINESS AMERICA
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    https://Policy.report/news-article.aspx?ID=13811381

    LIFE INSURANCE TO COST LESS AS MORTALITY RATE DECLINES

    Mar 01, 2019

    With a significant fall in the mortality rate in India, the cost of life insurance premiums is set to come down to a comfortable level. All working professionals in the age group between 22 and 50 have reason to cheer, as they have to pay less premium in the coming fiscal starting from April 1, 2019...

    THE ASIAN AGE
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    https://Policy.report/news-article.aspx?ID=13611361

    COURT DECISION SHOWS IMPORTANCE OF PROPERTY INSURANCE ON NEW APARTMENTS

    Mar 01, 2019

    A court decision might mean that apartment owners are liable for the repair costs of units other than their own – a situation that only serves to underscore the importance of purchasing property insurance on a new apartment. Prominent law firm MinterEllisonRuddWatts recently wrote about Body C...

    MINTERELLISONRUDDWATTS
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    https://Policy.report/news-article.aspx?ID=13431343

    MALAYSIAN GENERAL INSURANCE INDUSTRY GROWS 1.5%

    Mar 01, 2019

    Malaysia’s general insurance industry recovered slightly, posting a 1.5% increase in gross written premiums (GWP) in 2018, according to the General Insurance Association of Malaysia (PIAM). The rebound was fuelled by the sector’s two largest insurance classes – motor and fire, Edge...

    GENERAL INSURANCE ASSOCIATION OF MALAYSIA
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    https://Policy.report/news-article.aspx?ID=13441344

    ITALIAN INSURER PLACES $51 MILLION CAT BOND FOR SEVERE WEATHER RISKS

    Mar 01, 2019

    Italian insurer UnipolSai Assicurazioni SpA has completed a €45 million ($51.2 million) catastrophe bond protecting it against a range of severe weather risks in Italy, Willis Towers Watson PLC said Friday. Atmos Re DAC was structured and placed by the securities arm of Willis Re, the reinsuran...

    MUNICH REINSURANCE CO
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    https://Policy.report/news-article.aspx?ID=13451345

    WAR-RISK INSURANCE RATES COULD RISE IF REINSURERS ISSUE WARNING

    Mar 01, 2019

    Experts said that insurance premium rates for war-risk in India could increase only after reinsurers issue an advisory that current political tensions between India and Pakistan are expected to escalate, The Economic Times reported. The experts said that marine and aviation insurance rates could ris...

    GIC
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    https://Policy.report/news-article.aspx?ID=13461346

    MANDATORY CYBER INSURANCE NEEDED TO IMPROVE RESPONSE PLANS

    Mar 01, 2019

    Freya Ollerearnshaw, a cyber risk expert at U.K.-based law firm Pinsent Masons L.L.P., called on regulators to make cyber insurance mandatory for business to improve the way firms respond to cyber attacks, Out-Law.com reported. Ms. Ollerearnshaw said that regulators would need to conduct a benchmark...

    EUROPEAN INSURANCE AND OCCUPATIONAL PENSIONS AUTHORITY
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    https://Policy.report/news-article.aspx?ID=13471347

    NAIFA MEMBERS OFFERING MORE SERVICES, STAYING COMMISSION-BASED

    Feb 28, 2019

    You don’t have to be wealthy to have an advisor, the results of an industry association membership survey showed. The National Association of Insurance and Financial Advisors conducted its first comprehensive membership survey in nearly a decade. Among the findings are that members are offerin...

    INSURANCENEWSNET
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    https://Policy.report/news-article.aspx?ID=13561356

    GERMANY SETS UP BREXIT CONTINGENCY PLAN FOR UK INSURERS

    Feb 28, 2019

    Germany has authorized the country's insurance regulator to extend U.K.-based insurers' "passporting rights" to maintain access to German clients for up to 21 months in case of a hard Brexit, ITIJ.com reported. Under the arrangement, U.K. insurers will not be allowed to write new b...

    ITIJ
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    https://Policy.report/news-article.aspx?ID=13311331

    INSURERS COULD CUT RATES TO WRITE MORE BUSINESS

    Feb 28, 2019

    U.S.-based ratings agency S&P Global Inc. said that Qatari insurers could lower insurance rates this year to write more business and expand operations into new foreign markets this year, The Peninsula Qatar reported. The ratings agency said that increasing competition and higher operating costs ...

    S&P GLOBAL INC
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    https://Policy.report/news-article.aspx?ID=13321332

    QBE EYES COMMONWEALTH BANK'S INSURANCE UNIT

    Feb 28, 2019

    Pat Regan, chief executive of Australia-based QBE Insurance Group Ltd., said that the insurer is considering buying Commonwealth Bank of Australia's general insurance unit, Paint and Panel reported citing sources. Commonwealth Bank started a strategic review of its general insurance business in ...

    QBE INSURANCE GROUP LTD
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    https://Policy.report/news-article.aspx?ID=13331333

    UNIQA INSURANCE'S PROFIT RISES 27%

    Feb 28, 2019

    Austria-based Uniqa Insurance Group A.G.'s net profit grew 27% year over year to €235 million ($267.5 million) in 2018, Xprimm.com reported. Property/casualty premiums grew 5% to nearly €3 billion while total premiums remained nearly flat at €5.3 billion.

    UNIQA INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=13341334

    ENVESTNET INSURANCE EXCHANGE LAUNCHES WITH SIX CARRIERS

    Feb 28, 2019

    Envestnet Insurance Exchange, a new insurance network that integrates insurance solutions into the wealth management process on the Envestnet platform, now offers access to a robust line-up of six carriers. Envestnet Insurance Exchange will include Allianz Life, Brighthouse Financial, Global Atlanti...

    ALLIANZ LIFE
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    https://Policy.report/news-article.aspx?ID=13351335

    US ECONOMIC GROWTH SLOWS TO 2.6 PERCENT IN Q4

    Feb 28, 2019

    The U.S. economy slowed in the final three months of last year to an annual growth rate of 2.6 percent, the slowest pace since the beginning of 2018, as the government shutdown and other factors took a toll on growth. Economists believe growth has slowed even more in the current quarter. Growth in t...

    INSURANCENEWSNET
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    https://Policy.report/news-article.aspx?ID=13581358

    NZBROKERS STRESSES IMPORTANCE OF PUBLIC LIABILITY INSURANCE

    Feb 27, 2019

    Public liability insurance is mandatory for many New Zealand businesses through the supply, service, or lease contracts they accept – but is it important even if a business isn’t compelled to purchase a policy? New Zealand’s largest insurance broking collective thinks it is. In a b...

    NZBROKERS
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    https://Policy.report/news-article.aspx?ID=13191319

    REPORT: CHANGING CLIMATE MAY LEAD TO HIGHER PREMIUMS

    Feb 27, 2019

    The impact of climate change may lead to higher insurance premiums in the years ahead – and may even mean that some properties are completely uninsurable. In a new report, insurance law firm Bell Gully examined the proposed Zero Carbon Bill and the legal realities that businesses in New Zealan...

    BELL GULLY
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    https://Policy.report/news-article.aspx?ID=13201320

    GO-JEK AND GIGACOVER LAUNCH INCOME PROTECTION COVER FOR DRIVERS

    Feb 27, 2019

    Ride-hailing firm Go-Jek has partnered with Singaporean start-up GigaCover to provide income protection cover for its drivers. The scheme will allow all Go-Jek drivers to receive standard earnings protection coverage of SG$80 per day, effective April 01, a statement by Go-Jek said. To qualify for th...

    GO-JEK
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    https://Policy.report/news-article.aspx?ID=13211321

    UAE INSURERS' PROFITS ON THE RISE FOR SECOND STRAIGHT YEAR

    Feb 27, 2019

    The United Arab Emirates’ (UAE) insurance industry has posted a second consecutive year of bumper profits, according to an industry report. The UAE market’s momentum has continued throughout 2018, according to a report by insurance ratings agency AM Best, which analysed preliminary discl...

    DFM
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    https://Policy.report/news-article.aspx?ID=13221322

    STATE FARM TO CUT AUTO INSURANCE RATES IN SOUTH CAROLINA

    Feb 27, 2019

    State Farm Mutual Automobile Insurance Companies, the largest auto insurer in South Carolina, will cut its auto rates in the state for the second time in two years, according to a statement from the insurer. Overall personal auto rates will drop by 4.4 percent with the total statewide expected impac...

    STATE FARM
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    https://Policy.report/news-article.aspx?ID=13231323

    THAI INSURTECH PLATFORM RAISES $10 MILLION IN SERIES A FUNDING

    Feb 26, 2019

    Digital insurance platform Sunday has scored big with investors, raising $10 million in a Series A funding round led by Vertex Ventures Southeast Asia and India. Based in Thailand, Sunday’s platform offers customizable non-life insurance products through an artificial intelligence-driven risk-...

    VERTEX VENTURES
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    https://Policy.report/news-article.aspx?ID=13061306

    INSURER LAUNCHES NEW PRODUCT IN HONG KONG FOR START-UPS AND SMES

    Feb 26, 2019

    Global insurer Chubb has launched a new annual plan for personal accident insurance in Hong Kong tailored specifically for start-ups and small and medium enterprises (SMEs). Chubb’s eGroup personal accident insurance annual plan includes lump sum benefits for accidental death and disablement, ...

    CHUBB’S EGROUP
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    https://Policy.report/news-article.aspx?ID=13071307

    HEALTH INSURANCE REFORMS TO BRING MORE CLARITY TO COVERAGE

    Feb 26, 2019

    With only a month to go before the annual hike in private health insurance premiums, many people are weighing up whether the ever-increasing costs for services are worth the financial pain. It comes as no surprise that three out of four private health insurance members struggle to meet the cost, sig...

    SYDNEY MORNING HERALD
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    https://Policy.report/news-article.aspx?ID=13081308

    STANDARD INSURANCE IS THRIVING IN CHALLENGING TIMES IN THE PHILIPPINES

    Feb 26, 2019

    The Philippines insurance industry has continued to expand, but new tax laws and increased competition continue to put pressure on established industry players. In this milieu, Standard Insurance is still prospering through its innovate and customer-centric approach Located within the Pacific Ocean&...

    WORLDFINANCE
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    https://Policy.report/news-article.aspx?ID=13091309

    CANADIAN INSURANCE COMPANIES AND EMPLOYERS SAVING THE CANADIAN ECONOMY $MILLIONS ANNUALLY WITH BESTLIFEREWARDED

    Feb 26, 2019

    In Canada, about $64 billion is spent annually on direct and indirect costs for five key modifiable risk factors; physical inactivity, smoking, excess weight, low fruits & vegetables and excessive use of alcohol. BestLifeRewarded operates the gold standard behaviour change technology platform fo...

    BESTLIFEREWARDED
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    https://Policy.report/news-article.aspx?ID=13101310

    INDIA ISSUES UAE TRAVEL INSURANCE ADVISORY FOLLOWING MEDICAL EMERGENCIES

    Feb 26, 2019

    The Indian diplomatic mission has issued a UAE travel insurance advisory after two Indian tourists suffered medical emergencies in the Gulf country in less than two months. The advisory said, "Indians travelling to the UAE for visiting or tourism purposes are advised to take adequate medical in...

    KHALEEJ TIMES
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    https://Policy.report/news-article.aspx?ID=13111311

    AVOID BUYING LIFE INSURANCE JUST TO SAVE INCOME TAX

    Feb 26, 2019

    The life insurance business has grown manifolds in India because of the efforts put up by million agents, lakhs of insurance employees. Despite there exists a general assumption that life insurance is a medium to avoid the income tax liability to a huge limit, one shouldn’t think of saving inc...

    THE ASIAN AGE
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    https://Policy.report/news-article.aspx?ID=13621362

    BERKSHIRE P/C INSURANCE REPORTED Q4 LOSS, PROFIT FOR FULL YEAR 2018

    Feb 25, 2019

    In the conglomerate’s annual report published on Saturday, Berkshire Hathaway’s Chair Warren Buffett recommended that readers focus on operating earnings, reviewing a year in which insurance operations contributed $6.1 billion to a $24.8 billion total. While total operating income rose 7...

    BERKSHIRE HATHAWAY
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    https://Policy.report/news-article.aspx?ID=12921292

    PING AN INSURANCE READIES $8 BILLION IPO OF FINTECH ONECONNECT

    Feb 25, 2019

    Ping An Insurance (Group) Co., China’s largest insurer by market value, is gearing up for an initial public offering of its OneConnect unit that could value the financial management portal at about $8 billion, according to people familiar with the matter. Ping An is now targeting to list OneCo...

    PING AN INSURANCE (GROUP) CO
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    https://Policy.report/news-article.aspx?ID=12931293

    NEW MEXICO EYES A 'MEDICAID BUY-IN' PLAN TO INSURE MORE RESIDENTS

    Feb 25, 2019

    Laura Lucero Y Ruiz De Gutierrez has a heart condition and fibromyalgia and is at high risk of developing diabetes. She has health insurance through her husband's job. But, between the $800 monthly premium for the couple's coverage and the $2,100 deductible she has to pay down before insuran...

    NPR SCIENCE DESK
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    https://Policy.report/news-article.aspx?ID=12941294

    CALIFORNIA CONSIDERS WILDFIRE INSURANCE FUND TO AVOID REPEAT OF PG&E’S WOES

    Feb 25, 2019

    Hoping to prevent another California utility from being driven into bankruptcy by wildfires, state officials may create a new kind of insurance fund to help cover costs from the increasingly devastating disasters. The idea was proposed last year by a state lawmaker who formally introduced a bill tow...

    S&P GLOBAL
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    https://Policy.report/news-article.aspx?ID=12951295

    CHILDREN WITHOUT HEALTH INSURANCE ON RISE IN VOLUSIA, FLAGLER AND FLORIDA

    Feb 25, 2019

    When Kristina Marty moved to Daytona Beach in 2017 from Rhode Island, she had no idea her decision would cost her four children their free health insurance. “They were on the Rhode Island state insurance, I was making $52,000 a year and they still qualified for the state insurance, so it was j...

    FLORIDA KIDCARE INSURANCE
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    https://Policy.report/news-article.aspx?ID=12961296

    REPORT: DETROIT'S CAR INSURANCE RATES DROPPED 6.3 PERCENT IN PAST YEAR

    Feb 25, 2019

    Detroit's sky-high car insurance rates dropped 6.3 percent in the last year, according to the State of Auto Insurance Repor t released by The Zebra. Although they have dropped, Detroit drivers still pay the most for car insurance out of any city in the U.S. 140 percent more than the national ave...

    THE ZEBRA
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    https://Policy.report/news-article.aspx?ID=12971297

    CAR INSURANCE TRAP IS COSTING DRIVERS £262.41 MORE EVERY YEAR - HERE’S HOW TO AVOID IT

    Feb 25, 2019

    Millions of motorists could be missing out on hundreds of pounds of savings by falling into a loyalty trap with their insurers, reveals new research. New research by GoCompare Car Insurance reveals millions of motorists are over-paying to the tune of £1.23 billion a year. It claims that 4.6 mi...

    GOCOMPARE
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    https://Policy.report/news-article.aspx?ID=12981298

    INSURANCE BROKERS ENCOURAGED TO ENTER INDUSTRY AWARD

    Feb 22, 2019

    Young brokers and insurance professionals are being encouraged to enter an upcoming industry award this week with one senior figure saying participation offers a host of career benefits. Sue Vidler, treasurer and board member for the Australian Insurance Law Association (AILA) urged young profession...

    AUSTRALIAN INSURANCE LAW ASSOCIATION
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    https://Policy.report/news-article.aspx?ID=12761276

    QBE BACKS AUSTRALIA’S FIRST OPEN-TRAFFIC DRIVERLESS-VEHICLE TRIAL

    Feb 22, 2019

    QBE has teamed up with Armidale Regional Council to provide compulsory third-party (CTP) cover for the first open-traffic driverless-vehicle trial in Australia. The Armidale Regional Driverless Initiative (ARDi) trial will operate a level-four (driverless on specific routes) fully-automated EasyMile...

    QBE
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    https://Policy.report/news-article.aspx?ID=12771277

    THE DIFFICULTIES OF SELLING A CYBER POLICY OUTSIDE EUROPE AND THE US

    Feb 22, 2019

    Cybersecurity was raised as top priority for global businesses in Allianz’s 2019 Risk Barometer, with Corporate & Speciality Pacific CEO Willem Van Wyk commenting that a large chunk of businesses saw it as a “significant concern.” When it comes to underwriting cyber risks, insu...

    ALLIANZ
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    https://Policy.report/news-article.aspx?ID=12781278

    CLAIMS TO SPIKE AS VISITORS TO GLACIER COUNTRY REVISE TRAVEL PLANS

    Feb 22, 2019

    Travel insurers are bracing for an increase in claims as a massive landslide caused by heavy rains blocked a section of a West Coast highway that serves as the only access to major Glacier Country tourist destinations from the north. According to Stuff.co.nz, a section of State Highway 6 north of Wh...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=12791279

    AUCKLAND SUSPENDS LIME E-SCOOTERS AS ACCIDENT CLAIMS RISE

    Feb 22, 2019

    An increasing number of accidents involving Lime e-scooters, which has consequently caused a sharp rise in claims figures, has prompted officials in both Auckland and Dunedin to halt the company’s service.  The New Zealand Herald reported that Auckland Council officials have suspended Lim...

    AUCKLAND
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    https://Policy.report/news-article.aspx?ID=12801280

    AQUILINE TO ACQUIRE RELATION INSURANCE SERVICES IN CALIFORNIA

    Feb 22, 2019

    Aquiline Capital Partners LLC, a private equity firm investing in financial services and technology, has entered into a definitive agreement to acquire Walnut Creek, Calif.-based Relation Insurance Services from private equity firms Parthenon Capital and Century Equity Partners. Terms of the deal we...

    AQUILINE CAPITAL PARTNERS LLC
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    https://Policy.report/news-article.aspx?ID=12831283

    HOUSTON INSURANCE BROKER LAUNCHES ONLINE TOOL TO CONNECT AGENTS, CUSTOMERS

    Feb 22, 2019

    Houston-based insurance broker, Frank Medina, has launched Insurance Agent Near Me, an online tool that connects customers with reputable insurance agents in their vicinity. Insurance Agent Near Me lists all the major insurance products that are being searched online daily and pointing customers to ...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=12841284

    LIBERTY MUTUAL HAS MOST SATISFIED COMMERCIAL INSURANCE AGENTS

    Feb 21, 2019

    Liberty Mutual has the most satisfied independent commercial insurance agents, according to a survey by J.D. Power. The insurer also took the top spot in the category in J.D. Power’s Independent Insurance Agent Satisfaction Study last year. The study was developed in cooperation with the Indep...

    LIBERTY MUTUAL
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    https://Policy.report/news-article.aspx?ID=12651265

    REACTION POURS IN AS WHOLESALE INSURANCE BROKERS MARKET STUDY CONCLUDES

    Feb 21, 2019

    “Overall, we have not found evidence of significant levels of harm to competition that merit the introduction of intrusive remedies.” That was how the Financial Conduct Authority (FCA) summed up the wholesale insurance brokers market study it initiated back in 2017. For the Lloyd’s...

    LLOYD
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    https://Policy.report/news-article.aspx?ID=12661266

    FITCH: IS THIS THE END OF THE TRADITIONAL REINSURANCE CYCLE?

    Feb 21, 2019

    The past few years have seen natural catastrophe after natural catastrophe. There have been devastating hurricanes, record-breaking wildfires, typhoons, tsunamis, mudslides you name it and the world has suffered through it. The global insurance and reinsurance markets have borne billions of dollars ...

    FITCH
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    https://Policy.report/news-article.aspx?ID=12671267

    IBAC’S DATA EXCHANGE PLAN TAKES A STEP FORWARD FOR THE BENEFIT OF BROKERS

    Feb 21, 2019

    Taking another step towards easing the movement of data and improving the efficiency of broker workflows, the Insurance Brokers Association of Canada (IBAC) has launched the next phase of its data exchange action plan, which will involve brokers, vendors, and industry stakeholders coming together in...

    INSURANCE BROKERS ASSOCIATION OF CANADA
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    https://Policy.report/news-article.aspx?ID=12681268

    FWD SINGAPORE LAUNCHES COMPREHENSIVE CANCER INSURANCE POLICY

    Feb 21, 2019

    FWD Singapore has unveiled a cancer insurance policy that offers a 100% payout upon diagnosis, at any stage of the disease. Data from the Singapore Cancer Registry shows that cancer has been the top cause of death in the country for five consecutive years, from 2012 to 2017. On average, 37 people ar...

    LIFE INSURANCE ASSOCIATION OF SINGAPORE
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    https://Policy.report/news-article.aspx?ID=12691269

    ACC REVEALS BILLION DOLLAR FALL-RELATED CLAIMS DATA

    Feb 21, 2019

    Accident Compensation Corporation (ACC) has released statistics of claims it received in the past year on injuries resulting from people falling over. ACC received 785,063 new fall-related claims in 2018, up from 781,122 from a year ago. These make up 39% of all ACC claims and have cost ACC $1.1 bil...

    ACCIDENT COMPENSATION CORPORATION
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    https://Policy.report/news-article.aspx?ID=12701270

    AUTO-OWNERS INSURANCE SNAPS UP REGIONAL INSURER

    Feb 20, 2019

    Auto-Owners Insurance, a multi-line property and casualty insurer operating through independent agencies in 26 states, has announced that it has entered into a definitive agreement with Capital Insurance Group (CIG). CIG is a regional property and casualty insurer serving the western United States. ...

    CAPITAL INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=12551255

    EPIC INSURANCE APPOINTS PRINCIPAL TO ENERGY AND MARINE PRACTICE

    Feb 20, 2019

    EPIC Insurance Brokers and Consultants has named a new principal, who joins the company’s energy and marine practice. Jose Palmer has been appointed to the role, and he will report to EPIC managing principal and Southwest Region director KJ Wagner. Based in Houston, Palmer will oversee new bus...

    EPIC INSURANCE BROKERS AND CONSULTANTS
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    https://Policy.report/news-article.aspx?ID=12561256

    SUN LIFE CREATES NEW CLIENT EXPERIENCE DIVISION FOR CANADIAN OPERATIONS

    Feb 20, 2019

    Sun Life Financial Canada president Jacques Goulet has announced a realignment to the Canadian operation – by creating a new client experience team and simplifying the structure of its individual insurance and wealth businesses. The new client experience office will be led by senior vice-presi...

    SUN LIFE FINANCIAL CANADA
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    https://Policy.report/news-article.aspx?ID=12571257

    INTACT INSURANCE MAINTAINS SUPPORT FOR BROKER IDENTITY PROGRAM

    Feb 20, 2019

    The Insurance Brokers Association of Canada (IBAC) has announced that Intact Insurance has maintained support of the association’s Broker Identity Program (BIP) at the full partner level. As a full partner, Intact will support IBAC’s BIP a national advertising campaign aimed at spreading...

    IBAC
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    https://Policy.report/news-article.aspx?ID=12581258

    INSURER OFFERS UPDATE AMID TOWNSVILLE FLOOD CLAIMS

    Feb 20, 2019

    A slew of insurers have reached out to help Townsville flood victims get back on their feet following the unprecedented event, which has seen an estimated $165 million in losses. Bupa, Suncorp and QBE have been the latest to offer their support by making donations, conducting on-site visits and offe...

    IAG
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    https://Policy.report/news-article.aspx?ID=12591259

    MALAYSIA'S EPF UPBEAT ON INSURANCE SECTOR GROWTH

    Feb 19, 2019

    Malaysia’s Employees Provident Fund (EPF) is weighing its options to invest in foreign-owned insurers operating in the country. The EPF, which manages the compulsory pensions plan for private sector workers in Malaysia, is looking to buy up to a 30% stake in one of several fully foreign-owned ...

    NEW STRAITS TIMES
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    https://Policy.report/news-article.aspx?ID=12451245

    NORTH KOREA LAUNCHES THREE GENERAL INSURERS

    Feb 19, 2019

    North Korea’s bid to attract foreign capital to prop up its economy has resulted in the creation of three general insurance companies. The three insurance firms Pukguksong Insurance Company, Samhae Insurance Company and Mirae Reinsurance Company were formed by Pyongyang from 2016 to 2017, a re...

    PUKGUKSONG INSURANCE
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    https://Policy.report/news-article.aspx?ID=12461246

    STARR HONG KONG TAPS FACEBOOK MESSENGER TO SELL TRAVEL COVER

    Feb 19, 2019

    Starr Insurance has launched a Facebook Messenger-based chatbot in Hong Kong to sell single trip and annual travel insurance.

    According to a statement by Starr, the AI-enabled chatbot was developed to save customers’ time and streamline the purchasing process. It uses machine le...

    STARR INSURANCE
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    https://Policy.report/news-article.aspx?ID=12471247

    NEW AUSTRALIAN LIFE INSURER SET TO ENTER THE RETAIL MARKET

    Feb 19, 2019

    Japanese insurer Daido Life, through its stake in insurance start-up Integrity Life of Australia, will enter Australia’s retail life insurance market next month. Daido bought a 14.9% interest in Integrity Life last year and initially launched in the group life market selling policies to small ...

    DAIDO LIFE
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    https://Policy.report/news-article.aspx?ID=12481248

    GALLAGHER: MEDIUM-SIZED BUSINESSES ARE PRIME TARGETS FOR D&O CLAIMS

    Feb 18, 2019

    A hard market looms for directors and officers (D&O) liability insurance. The back end of 2018 saw a dramatic re-focus on underwriting discipline as carriers continued to combat record numbers of class actions and increasing numbers of “event” based claims, triggered from things like...

    GALLAGHER
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    https://Policy.report/news-article.aspx?ID=12381238

    HOSPITAL GIANT TO PAY $1.25 MILLION OVER INSURANCE FRAUD SCHEME

    Feb 18, 2019

    One of the country’s largest hospital groups and its CEO have agreed to pay $1.25 million to settle allegations of healthcare fraud. Prime Healthcare Services and its founder and CEO, Dr. Prem Reddy, have agreed to pay the penalty to settle allegations that two Prime hospitals in Pennsylvania ...

    PRIME HEALTHCARE SERVICES
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    https://Policy.report/news-article.aspx?ID=12391239

    OVER US$1 BILLION POURED INTO UK INSURTECHS IN 2018

    Feb 18, 2019

    While global insurtech investment slid by nearly half to US$5.7 billion in 2018, the UK saw its insurtechs attract more than US$1 billion of investment last year – an increase from the US$792 million posted by British insurtechs in 2017. “Claims management and the unbundling of services ...

    KPMG
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    https://Policy.report/news-article.aspx?ID=12401240

    FLYBMI DEMISE: PASSENGERS ADVISED TO CHECK FOR INSURANCE

    Feb 18, 2019

    British Midland Regional Limited, aka flybmi, ceased operations on February 16 – cancelling all flights both from and to the UK and within Europe. That means a deluge of queries from passengers to check whether they have Scheduled Airline Failure Insurance (SAFI) coverage.

    &ldqu...

    BRITISH MIDLAND REGIONAL LIMITED
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    https://Policy.report/news-article.aspx?ID=12411241

    GOVERNMENT-BACKED AI PROJECT TO TAKE ON INSURANCE FRAUD

    Feb 18, 2019

    Insurance fraud, which the government said cost the UK £3 billion in 2017, is about to get a new nemesis. Intelligent Voice Ltd, Strenuus Ltd, and the University of East London are jointly developing an artificial intelligence (AI) software aimed at combining AI and voice recognition technolog...

    STRENUUS LTD
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    https://Policy.report/news-article.aspx?ID=12421242

    GLOBAL INSURER REACHES $1 BILLION GWP TARGET EARLY, LAUNCHES BRAND THE INSIDE STORY

    Feb 15, 2019

    South African-owned insurance group Hollard has been one of Australia’s fastest-growing insurers over the last year, and has hit its 2020 $1 billion in gross written premium target over a year early. Hollard is currently the seventh largest general insurer in Australia, and recently launched H...

    HOLLARD
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    https://Policy.report/news-article.aspx?ID=12311231

    MALAYSIA SETS APRIL DEADLINE FOR INSURERS’ FOREIGN OWNERSHIP PLANS

    Feb 15, 2019

    The Malaysian government is giving foreign-owned insurers until April to submit their plans on how to comply with local shareholding regulations, according to the country’s central bank. A 2009 ruling by Bank Negara Malaysia (BNM) limits foreign entities to owning a maximum of 70% of insurers&...

    BANK NEGARA MALAYSIA
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    https://Policy.report/news-article.aspx?ID=12321232

    INSURANCE FOR CHINESE OVERSEAS INVESTMENTS UP 20%

    Feb 15, 2019

    China Export & Credit Insurance Corporation (Sinosure), reported business growth of almost 20%, accompanying the country's overseas investment push throughout 2018. Sinosure provided insurance for overseas investments worth US$58.13 billion in 2018, up 18.9% year on year, Xinhua reported. Th...

    XINHUA
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    https://Policy.report/news-article.aspx?ID=12331233

    ARCHWAY INSURANCE ACQUIRES NOVA SCOTIA BROKER

    Feb 15, 2019

    Atlantic Canada-based Archway Insurance has announced the acquisition of George Mitchell Insurance in Liverpool, Nova Scotia, taking the growing brokerage’s number of locations up to 24, with approximately 57,000 clients and $115 million in premium volume.  “We welcome the employees...

    ARCHWAY INSURANCE
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    https://Policy.report/news-article.aspx?ID=12341234

    FIRE-HIT HOMEOWNERS URGED TO CONTACT BROKERS, INSURERS

    Feb 14, 2019

    The Insurance Council of New Zealand (ICNZ) is urging residents who have suffered property damage or evacuation due to the Nelson fires to contact their insurer or broker.ICNZ advised that tempory accommodation is available under most domestic insurance policies and that customers should check their...

    THE INSURANCE COUNCIL OF NEW ZEALAND
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    https://Policy.report/news-article.aspx?ID=12221222

    MICHIGAN LAWMAKERS SEEK TO BRING DOWN CAR INSURANCE RATES IN 2019

    Feb 14, 2019

    Michigan lawmakers on both sides of the aisle say this year they're going to bring down car insurance rates. Some GOP leaders said drivers need choices rather than the mandatory no fault insurance, but critics fear drivers with less coverage will go bankrupt with hospital costs. "People don...

    WSBT
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    https://Policy.report/news-article.aspx?ID=12231223

    BARTENDER ALLEGEDLY SETS CUSTOMER UP FOR INSURANCE SCAM

    Feb 14, 2019

    Talking to your bartender about your life’s troubles is a time-honored tradition one that isn’t supposed to lead to an insurance scam. While having a conversation with her bartender at the local Fraternal Order of Eagles, a Lincoln Park woman thought she was getting good advice. After th...

    THE NEWS-HERALD
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    https://Policy.report/news-article.aspx?ID=12251225

    EXPECT DIRECT ONLINE TO GAIN IN SMALL COMMERCIAL INSURANCE MARKET SHARE: NOVARICA

    Feb 14, 2019

    Changes in small business owners’ online habits and new market entrants are driving market demand for online purchasing of insurance, according to a report from advisory firm Novarica, which sees direct online sales capturing as much as 15 percent of the market within five years.

    ...

    NOVARICA
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    https://Policy.report/news-article.aspx?ID=12261226

    FEDERAL GOVERNMENT ADVISES SPRING BREAK VACATIONERS TO SECURE TRAVEL INSURANCE

    Feb 13, 2019

    The federal government has issued an advisory for Canadians going on vacation during spring break, encouraging them to secure travel insurance, among other tips. Everyone including those in the prime of their health must secure travel insurance, the government stated in its release. The release, whi...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=12141214

    SINGAPORE’S LIFE INSURANCE INDUSTRY GROWS 3%

    Feb 13, 2019

    Singapore’s life insurance industry recorded SG$4.2 billion in weighted new business premiums in 2018, up 3% from the previous year, according to data from the Life Insurance Association (LIA) of Singapore. The growth has been attributed mainly to the continued uptake and stable performance of...

    LIFE INSURANCE ASSOCIATION (LIA) OF SINGAPORE
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    https://Policy.report/news-article.aspx?ID=12161216

    USI TO MAKE MAJOR ACQUISITION OF US RISK INSURANCE GROUP

    Feb 13, 2019

    US Risk Insurance Group considered one of the biggest P&C program and specialty brokerage firms in America has announced that it has entered into a definitive agreement to be acquired by USI Insurance Services. Once the transaction closes, US Risk will maintain its current headquarters in Dallas...

    US RISK INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=12171217

    INDIAN INSURERS HIT BY STAFF SHORTAGES, LOSSES AMID MERGER DELAY

    Feb 12, 2019

    Due to the delays in merging three major state-owned general insurers in India, the firms have suffered huge financial losses and mounting job vacancies. The three firms set to be merged National Insurance, United India Insurance and Oriental Insurance have around 600 to 900 officer posts and around...

    ORIENTAL INSURANCE
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    https://Policy.report/news-article.aspx?ID=12181218

    OSFI RELEASES NEW CYBER RULES FOR INSURERS

    Feb 12, 2019

    The Office of the Superintendent of Financial Institutions (OSFI) has implemented regulatory reporting requirements on technology and cybersecurity incidents for insurers. OSFI’s Advisory on Technology and Cybersecurity Incident Reporting mandates that federally regulated financial institution...

    OSFI
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    https://Policy.report/news-article.aspx?ID=12061206

    INSURANCE INDUSTRY MOURNS PASSING OF STATE MANAGER STEVE MANN

    Feb 12, 2019

    The Australian insurance industry is in mourning today after details were released about the passing of Technical Assessing state manager, Victoria, Steve Mann. Mann was killed in a motorcycle accident over the weekend and leaves behind his wife Janine and three children, Catherine, Jessica and Jame...

    AICLA
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    https://Policy.report/news-article.aspx?ID=12071207

    SUNCORP RAMPS UP SUPPORT FOR FLOOD-RAVAGED TOWNSVILLE

    Feb 12, 2019

    Insurance giant Suncorp continues to reach out to flood-ravaged customers in Townsville by ramping up the number of assessors and builders on-site. “We are leading a hive of activity in the region with customer-support teams assisting with claims, assessors visiting impacted homes, and builder...

    SUNCORP
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    https://Policy.report/news-article.aspx?ID=12081208

    BROWN & BROWN ACQUIRES PENNSYLVANIA AGENCY SMITH INSURANCE ASSOCIATES

    Feb 12, 2019

    Insurance brokerage giant Brown & Brown, Inc. has today announced the acquisition of Smith Insurance Associates, Inc., a family-owned agency based in Pennsylvania. The deal was done via Brown & Brown Metro, LLC, a subsidiary of Brown & Brown, Inc. Smith Insurance has been providing a var...

    BROWN & BROWN, INC
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    https://Policy.report/news-article.aspx?ID=12091209

    NOLA COP BUSTED FOR INSURANCE FRAUD

    Feb 11, 2019

    A New Orleans police officer who doubles as a church pastor apparently wasn’t paying attention to the rules of either of his jobs when he allegedly scammed a disability insurer out of more than $6,000. Gervais Allison Sr., a lieutenant with the New Orleans Police Department and a pastor at Ros...

    NOLA
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    https://Policy.report/news-article.aspx?ID=11991199

    EQUISOFT ACQUIRES MONTREAL-BASED DIGITAL PROVIDER OF INSURANCE SOLUTIONS

    Feb 11, 2019

    Equisoft, which provides digital business solutions for the insurance and wealth industries, has acquired AGEman Solutions. Based in Montreal, AGEman Solutions develops agency management systems specifically for the Canadian distribution market. A release said that AGEman’s system allows insur...

    EQUISOFT
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    https://Policy.report/news-article.aspx?ID=12001200

    INSURANCE EXPERT: THE IMPORTANCE OF BEING ABLE TO READ YOUR POLICY

    Feb 11, 2019

    Life policies from major insurers were recently described as ‘unreadable’ by the Auckland University of Technology (AUT), with a minimum of a postgraduate qualification being required to understand most policy wordings. This followed the regulators’ recent report into life insurers...

    KEEGAN ALEXANDER INSURANCE
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    https://Policy.report/news-article.aspx?ID=12011201

    SOLERA ACQUIRES EUROPEAN INSURTECH FIRM

    Feb 08, 2019

    Texas-based Solera Holdings, a provider of intelligent data and software as a service (SaaS) to manage the automotive, light and heavy truck fleet, home and identity sectors, has announced its acquisition of in4mo Oy, a European provider of SaaS-based software and services for the property-structure...

    SOLERA
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    https://Policy.report/news-article.aspx?ID=11911191

    EQC, HOMEOWNERS SETTLE INSURANCE DISPUTES OUT OF COURT

    Feb 08, 2019

    The Earthquake Commission (EQC) and hundreds of homeowners with unresolved quake insurance claims are making peace at least outside of court. More than 700 court cases against EQC have been withdrawn by homeowners, with them agreeing to enter direct settlement with the insurer, Stuff reports. The de...

    EQC
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    https://Policy.report/news-article.aspx?ID=11921192

    ASTERON LIFE ROLLS OUT NEW LEVEL PREMIUM OPTIONS

    Feb 08, 2019

    Asteron Life has announced new level premium options for its SmartLife, personal insurance and business insurance life cover customers. In addition to the existing level to 70 and level to 80 options, Asteron Life customers will now be able to select level premiums to ages 50, 60, 65, 75 and 100. Th...

    ASTERON LIFE
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    https://Policy.report/news-article.aspx?ID=11931193

    GEORGIA MAN CHARGED IN $600K INSURANCE SCAM

    Feb 06, 2019

    A Georgia business owner has been arrested for allegedly running an insurance scam that netted nearly $600,000.

    Dean Harrison Grant, 53, has been charged with three counts of insurance fraud, three counts of theft by taking, two counts of trafficking of an elder person, and one count ...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=11741174

    LLOYD’S INTRODUCES KEY ADVISOR FOR INTERNATIONAL NETWORK

    Feb 06, 2019

    Hot on the heels of Burkhard Keese’s appointment as Lloyd’s of London chief financial officer comes the arrival of David Duclos to serve as non-executive chairman of the insurance market’s global network.  Effective immediately, Duclos will play a key advisory role in the deve...

    LLOYD
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    https://Policy.report/news-article.aspx?ID=11751175

    RACQ EASES INSURANCE WORRIES OF TOWNSVILLE FLOOD VICTIMS

    Feb 06, 2019

    RACQ Insurance has assured its home-and-contents insurance policyholders who were affected by the catastrophic Townsville flood that their policy has got them covered for damage to their homes. RACQ has so far received nearly 500 property-and-motor damage claims due to the weather event that has del...

    RACQ INSURANCE
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    https://Policy.report/news-article.aspx?ID=11761176

    MUNICH RE HIT WITH 56% PROFIT DIP IN Q4

    Feb 06, 2019

    Global reinsurance giant Munich Re took a hard hit from the spate of natural catastrophes that struck during the fourth quarter (Q4) of 2018. The firm today reported Q4 net profit of €238 million (about £209 million) – a 56% drop from €538 million (about £473 million) a y...

    MUNICH RE
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    https://Policy.report/news-article.aspx?ID=11771177

    JAPANESE INSURERS TURN TO CHINA AS M&A PUSH ROLLS ON

    Feb 06, 2019

    Japanese insurers are looking for merger and acquisition (M&A) targets in neighbouring Asian markets, including China, according to members of the insurance and banking sectors. To offset stagnation in their home market, Japanese insurers have spent over US$50 billion in acquisitions over the pa...

    NIPPON LIFE
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    https://Policy.report/news-article.aspx?ID=11781178

    GENERALI GLOBAL ASSISTANCE ACQUIRES GALLAGHER TRAVEL INSURANCE BRAND

    Feb 05, 2019

    Generali Global Assistance (GGA) has acquired Trip Mate from Arthur J. Gallagher.
    Kansas City, MO-based Trip Mate is a managing general agent that works with travel providers (such as tour operators) to provide administrative services for claims, product design and underwriting.
    Follow...

    GALLAGHER
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    https://Policy.report/news-article.aspx?ID=11641164

    MITSUI SUMITOMO INSURANCE SNAPS UP LONDON-BASED ILS FUND MANAGER

    Feb 05, 2019

    Insurance-linked securities (ILS) fund manager Leadenhall Capital Partners LLP (LCP) is now majority owned by Japanese company Mitsui Sumitomo Insurance.
    In line with efforts to boost its ILS business, the MS&AD Insurance Group subsidiary acquired 80% of limited partnership equity in the ...

    INSURANCE-LINKED SECURITIES
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    https://Policy.report/news-article.aspx?ID=11651165

    CHARTERED INSURANCE INSTITUTE DISCLOSES ETHNICITY PAY GAP

    Feb 05, 2019

    The Chartered Insurance Institute (CII) is showing leadership by example in its latest move that is part of its push for diversity and inclusion within the industry.
    Voluntarily disclosing its ethnicity pay gap, the CII wants to encourage dialogue and is of the view that being transparent is ...

    CHARTERED INSURANCE INSTITUTE
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    https://Policy.report/news-article.aspx?ID=11661166

    SURVEY: MANY BC RESIDENTS WANT MORE CHOICE IN AUTO INSURANCE

    Feb 05, 2019

    The Insurance Bureau of Canada (IBC) has released the results of a new study which found that most British Columbians were in favour of opening the province’s auto insurance market to more competition.
    IBC commissioned Maple Leaf Strategies to conduct a survey to gauge the attitudes of ...

    INSURANCE CORPORATION OF BRITISH COLUMBIA
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    https://Policy.report/news-article.aspx?ID=11671167

    PETSECURE SELECTED AS EXCLUSIVE PET INSURANCE PROVIDER FOR WINNIPEG HUMANE SOCIETY

    Feb 05, 2019

    Petsecure, a Petline Insurance brand, has formed an agreement with the Winnipeg Humane Society (WHS) to serve as the animal welfare centre’s exclusive provider of pet health insurance.
    Petsecure’s Adoptsecure program will be made accessible to pet adopters who adopt pets through W...

    PETLINE INSURANCE
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    https://Policy.report/news-article.aspx?ID=11681168

    AUSTRALIAN TERROR POOL RENEWS $3 BILLION RETROCESSION REINSURANCE PROGRAM

    Feb 02, 2019

    The Australian Reinsurance Pool Corporation (ARPC) has renewed its $3.315 billion retrocession reinsurance program and increased its reinsurance capacity by $250 million for the 2019 calendar year. The retrocession reinsurance program, plus ARPC’s net assets and the $10 billion Commonwealth gu...

    ARPC
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    https://Policy.report/news-article.aspx?ID=11561156

    THE COMPETITIVE ADVANTAGES OF BEING A SMALLER INSURER

    Feb 02, 2019

    Ando Insurance is a relative newcomer to New Zealand’s insurance market but has grown significantly over the past 12 months, having doubled in size for both headcount and premium. According to CEO John Lyon, the company was created to address the increasingly consolidating insurance market, an...

    ANDO INSURANCE
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    https://Policy.report/news-article.aspx?ID=11571157

    SINGAPORE INSURERS TO KEEP THEIR HANDS OFF LEAKED HIV INFORMATION

    Feb 02, 2019

    The Life Insurance Association of Singapore (LIA) has stated that it and its member firms will not use any of the leaked HIV information in a recent data breach affecting 14,200 HIV-positive individuals. In a statement issued on February 01, LIA said that the leak of the information will in no way a...

    LIFE INSURANCE ASSOCIATION OF SINGAPORE
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    https://Policy.report/news-article.aspx?ID=11581158

    SURROUNDED BY CHALLENGES ON ALL SIDES, THE INSURANCE INDUSTRY HAS TO “GET BACK TO BASICS”

    Feb 01, 2019

    For Markel Canada’s newest president, there isn’t just one key issue that he’s paying attention to as he begins his leadership of the company in 2019. As heightened cybersecurity risks, natural catastrophes, a talent shortage, increased regulation and many other challenges face the...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=11551155

    TEXAS MUTUAL ANNOUNCES STRATEGIC PARTNERSHIP

    Feb 01, 2019

    Texas Mutual Insurance Company, the state of Texas’s leading workers’ compensation provider, has announced a strategic partnership with the Independent Insurance Agents of Texas (IIAT). Under the partnership, IIAT will endorse Texas Mutual as the workers’ compensation carrier of ch...

    TEXAS MUTUAL INSURANCE
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    https://Policy.report/news-article.aspx?ID=11461146

    NEW PLATFORM EDUCATES BROKERS AND CLIENTS ON THE INS AND OUTS OF LANDLORD INSURANCE

    Jan 31, 2019

    Landlords facing an assortment of risks when renting out properties to potentially troublesome tenants who don’t or can’t pay their rent, decide to graffiti the walls of the unit, take all the doors off their hinges, or inflict any damage to the property, whether it’s accidental or...

    APRIL CANADA
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    https://Policy.report/news-article.aspx?ID=11531153

    NEW PLATFORM EDUCATES BROKERS AND CLIENTS ON THE INS AND OUTS OF LANDLORD INSURANCE

    Jan 31, 2019

    Landlords facing an assortment of risks when renting out properties to potentially troublesome tenants who don’t or can’t pay their rent, decide to graffiti the walls of the unit, take all the doors off their hinges, or inflict any damage to the property, whether it’s accidental or...

    APRIL CANADA
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    https://Policy.report/news-article.aspx?ID=11541154

    ICA TO HOST INSURANCE RECOVERY HUB FOR HAILSTORM-AFFECTED POLICYHOLDERS

    Jan 31, 2019

    The Insurance Council of Australia (ICA) will host a two-day insurance event for policyholders who were affected by the catastrophic hailstorms that battered Sydney and other NSW communities late last month. ICA will open an insurance recovery hub for those affected by the Dec. 20 storms on Feb. 5 a...

    ICA
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    https://Policy.report/news-article.aspx?ID=11371137

    AMERICAN FAMILY INSURANCE WINS COURT CASE AGAINST AGENTS

    Jan 31, 2019

    In a big win for insurance companies, the US Court of Appeals for the Sixth Circuit in Ohio has ruled that insurance agents of American Family Insurance (AmFam) are independent contractors and not employees. The ruling reversed an earlier lower court decision that classified agents as employees, mak...

    AMERICAN FAMILY INSURANCE
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    https://Policy.report/news-article.aspx?ID=11421142

    TRAVELERS EUROPE SECURES LICENCE FOR BREXIT SUBSIDIARY

    Jan 31, 2019

    Uninterrupted service that is what Travelers Europe is promising customers and broking partners across the continent ahead of the UK’s divorce with the European Union. Now there’s no stopping the insurance provider from keeping its word, as it has secured a licence for its Brexit unit. T...

    TRAVELERS
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    https://Policy.report/news-article.aspx?ID=11431143

    BIBA TAPS HOME & LEGACY FOR INSURANCE SCHEME

    Jan 31, 2019

    Home & Legacy has been picked to provide a new high net worth (HNW) insurance scheme to members of the British Insurance Brokers’ Association (BIBA). “We are delighted to be BIBA’s accredited high net worth scheme provider,” said Home & Legacy managing director Barry ...

    BIBA
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    https://Policy.report/news-article.aspx?ID=11441144

    BUSINESS SUES LIBERTY MUTUAL, AGENCY FOR $4.5 MILLION

    Jan 31, 2019

    The owners of a marina in West Virginia have filed a $4.5 million lawsuit against insurance agency Dyer Insurance Group and insurer Liberty Mutual Insurance Company, citing civil conspiracy, breach of contract, and bad faith. According to the West Virginia Record, Monongalia County-based Marine One ...

    LIBERTY MUTUAL INSURANCE
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    https://Policy.report/news-article.aspx?ID=11451145

    ALMOST 30 MILLION PEOPLE WILL SWITCH THEIR INSURANCE PROVIDER IN 2019

    Jan 30, 2019

    This year, over 28 million people plan to make the switch from insurance providers like GEICO, Allstate, Progressive, and State Farm, according to consumer intelligence platform Resonate. With some key insight on the motivations and needs of these consumers that will be revealed in an upcoming webin...

    STATE FARM
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    https://Policy.report/news-article.aspx?ID=11331133

    NEW RULE PAVES THE WAY FOR LARGER FLOOD INSURANCE MARKET

    Jan 29, 2019

    A new federal rule compelling mortgage lenders to accept both private and government-backed flood insurance policies could boost the number of policies underwritten by private insurers. The rule was approved by the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency las...

    FEDERAL DEPOSIT INSURANCE CORP
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    https://Policy.report/news-article.aspx?ID=11341134

    A CONUNDRUM PLAGUES THE P&C INSURANCE MARKET

    Jan 29, 2019

    Thanks to a combination of improved pricing in motor and health in North America, weak economic growth in Latin America, and falling profitability for P&C insurers in the region overall, the non-life insurance market in the Americas is facing a low-growth, low-profitability conundrum, according ...

    EY
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    https://Policy.report/news-article.aspx?ID=11351135

    IN TIMES OF FINANCIAL UNCERTAINTY, INSURANCE CAN BE FIRST ON THE FIRING LINE

    Jan 29, 2019

    Health insurance, car insurance, and home-and-contents insurance are first on the firing line, as more than three quarters of Australians plan to make changes to their budgets this year in order to battle ongoing financial uncertainty, according to a price comparison website. New research by compare...

    COMPARETHEMARKET
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    https://Policy.report/news-article.aspx?ID=11261126

    VAN INSURANCE PREMIUMS HEAD NORTH

    Jan 28, 2019

    Good news: van insurance premiums are down 0.9% year-on-year to £1,299; bad news: they’re up 1.2% in the three months to December. According to Consumer Intelligence’s van insurance index, average premiums are 36.5% higher than in April 2014 when the data analytics firm began track...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=11361136

    DRIVING INSTRUCTOR CAUGHT WRONGFULLY ISSUING CERTIFICATES TO REDUCE INSURANCE RATES

    Jan 28, 2019

    An audit investigation in Edmonton caught a city employee handing out fraudulent training certificates to reduce the car insurance rates of his ‘clients.’ According to the audit report, a driving instructor at Edmonton Transit Service gave out 99 professional driver improvement course (P...

    EDMONTON TRANSIT SERVICE
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    https://Policy.report/news-article.aspx?ID=11251125

    MYANMAR TO ALLOW FOREIGN INSURERS TO OPERATE BY APRIL

    Jan 26, 2019

    Myanmar’s financial regulator will begin granting licences to foreign-owned insurance companies, allowing them to operate in the market by April. “We will soon invite expressions of interest (EOI) so that foreign insurers can start operations in April or no later than May,” U Thant...

    FINANCIAL REGULATORY DEPARTMENT
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    https://Policy.report/news-article.aspx?ID=11201120

    AIA SINGAPORE LAUNCHES NEW POLICY THAT COVERS MENTAL ILLNESSES

    Jan 26, 2019

    In a bid to address the taboo surrounding mental illness in Singapore, AIA Singapore has launched a new insurance plan that covers major mental conditions – the first policy of its kind in the city state, it claims.

    AIA’s new Beyond Critical Care regular premium, non-parti...

    AIA
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    https://Policy.report/news-article.aspx?ID=11211121

    CHARTERED INSURANCE INSTITUTE CREATES BODY FOR CLAIMS SECTOR

    Jan 25, 2019

    Back in September we saw the launch of the Society of Insurance Broking, with the Chartered Insurance Institute (CII) promising to unveil additional professional bodies in the coming months. Now the CII has brought the Society of Claims Professionals to life.
    The goal is to bolster public tru...

    CHARTERED INSURANCE INSTITUTE
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    https://Policy.report/news-article.aspx?ID=11171117

    STUDY: CANADIAN AUTO INSURANCE RATES LEAPT IN THE PAST YEAR

    Jan 25, 2019

    A recent study has found that auto insurance costs across Canada saw a considerable year-over-year increase for the fourth quarter of 2018. Specifically, LowestRates.ca’s Q4 2018 Auto Insurance Price Index found that rates in Alberta are up 10.05% in Q4, compared to the same period last year &...

    LOWESTRATES
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    https://Policy.report/news-article.aspx?ID=11181118

    ZURICH CANADA UNVEILS NEW TRAVEL INSURANCE PRODUCT

    Jan 25, 2019

    Zurich Canada has launched new travel insurance coverage for Canadians travelling abroad. The “Zurich Travel Insurance” product features coverage for emergency medical and dental care, trip cancellation and interruption, baggage loss and damage, flight and travel accident. Policyholders ...

    ZURICH
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    https://Policy.report/news-article.aspx?ID=11191119

    LOCKTON’S DIGITAL INSURANCE BROKER GRABS US$28 MILLION

    Jan 25, 2019

    Digital insurance broker Mylo has raised US$28 million in a Series A funding round led by Guggenheim Partners, the company has announced. Mylo was launched in 2015 by Lockton Companies to give small businesses and individuals a quick, convenient way to get customised advice, consult with licensed ag...

    MYLO
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    https://Policy.report/news-article.aspx?ID=11271127

    TROUBLED INSURER TO DELIST SHARES

    Jan 24, 2019

    AmTrust Financial has announced its intent to delist its preferred shares from the New York Stock Exchange, as well as to discontinue quarterly and annual securities filings. The company said in a release that it chose to delist because “the administrative costs and burdens associated with mai...

    AMTRUST
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    https://Policy.report/news-article.aspx?ID=11071107

    RSG ACQUIRES BOSTON INSURANCE SPECIALISTS

    Jan 24, 2019

    Ryan Specialty Group (RSG) has announced the acquisition of Boston Insurance Specialists (BIS), a family-owned wholesale insurance brokerage with offices in Mansfield and Westfield, MA. BIS was founded in 2001 by Debbie Murphy and Peggy Giancola. The independent brokerage represents and has binding ...

    RYAN SPECIALTY GROUP
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    https://Policy.report/news-article.aspx?ID=11081108

    ECHELON FINANCIAL SECURES SHAREHOLDER APPROVAL TO SELL INSURANCE BUSINESS TO CAA

    Jan 24, 2019

    Echelon Financial Holdings has revealed that its $175 million sale of Echelon Insurance to a subsidiary of CAA Club Group has been approved by the majority of its shareholders. Shareholders of the company met yesterday to vote over the sale of the insurance business. A release noted that the shareho...

    ECHELON INSURANCE
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    https://Policy.report/news-article.aspx?ID=11101110

    GLOBAL INSURERS DELVE INTO OECD CYBER PROJECT

    Jan 23, 2019

    The Global Federation of Insurance Associations (GFIA) has provided its feedback to the Organization for Economic Cooperation and Development (OECD) regarding its next steps on cyber issues. According to the GFIA, the cyber insurance market is an important resiliency tool with many ancillary benefit...

    GLOBAL FEDERATION OF INSURANCE ASSOCIATIONS
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    https://Policy.report/news-article.aspx?ID=11061106

    K2 INSURANCE SERVICES COMPLETES ACQUISITION OF NE-BASED AGRI UNDERWRITER

    Jan 23, 2019

    K2 Insurance Services has completed its acquisition of the assets and operations of Mid-America Risk Managers (MARM) in Omaha, NE. MARM is a farm and agricultural-focused specialty general agency that distributes specialty insurance products through independent agents and brokers, a release said. Th...

    K2 INSURANCE
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    https://Policy.report/news-article.aspx?ID=11001100

    SINGAPOREAN INSURANCE AGENTS, CHIROPRACTOR TO BE BOOKED FOR FRAUD

    Jan 23, 2019

    Two insurance agents and a chiropractor are facing charges of insurance fraud after allegedly submitting false accident claims, the Singapore Police Force (SPF) said. In March 2018, the Commercial Affairs Department began investigating the trio, who are aged between 27 and 36,Channel News Asia repor...

    SPF
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    https://Policy.report/news-article.aspx?ID=11011101

    INDIAN BANK APPROVES SALE OF STAKE IN INSURANCE JOINT VENTURE

    Jan 23, 2019

    The board of India-based IDBI Bank has approved a proposal to sell its stake in a life insurance joint venture. IDBI currently owns 48% of IDBI Federal Life Insurance, along with Federal Bank and Belgium-based Ageas which own 26% each, Mint reported. “In continuation of IDBI Bank’s earli...

    FEDERAL LIFE INSURANCE CO
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    https://Policy.report/news-article.aspx?ID=11021102

    NIPPON LIFE TO FOCUS ON THE US IN GLOBAL M&A PUSH

    Jan 22, 2019

    Nippon Life Insurance is actively searching for merger & acquisition (M&A) deals overseas, especially in the US and in emerging Asian markets, according to the president of the largest Japanese life insurer. Many Japanese insurers are aggressive in overseas acquisitions, due to a stagnating ...

    NIPPON LIFE INSURANCE
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    https://Policy.report/news-article.aspx?ID=11031103

    TRAVELERS REVEALS Q4 PROFIT JUMP

    Jan 22, 2019

    Property and casualty insurance giant, The TravelersCompanies, Inc. has today reported a net income of $621 million for the fourth-quarter (Q4) of 2018, jumping 17% from its $551 million total a year earlier. The insurer reported net written premiums of $6.691 billion, up 4% from the prior year, and...

    TRAVELERS
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    https://Policy.report/news-article.aspx?ID=10891089

    GLOBAL LAW FIRM LOCKED IN MULTIMILLION DOLLAR CLAIM AGAINST INSURER IN CANADA

    Jan 22, 2019

    Trisura Guarantee Insurance is on the receiving end of a lawsuit, with the plaintiff a global law firm claiming that the insurer owes it US$1.7 million. According to the recent decision of an Ontario Superior Court judge, an associate of Dentons Canada LLP was tricked into transferring $2.5 million ...

    DENTONS CANADA LLP
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    https://Policy.report/news-article.aspx?ID=10921092

    RECORD INVESTMENT IN LOCAL START-UPS RAISES INSURANCE CONCERNS

    Jan 22, 2019

    A New KPMG report has revealed that venture capital (VC) investment in Australian start-ups has reached a record-breaking $1.25 billion a trend broker Gallagher said highlights the need for appropriate insurance to be in place. According to the professional services giant’s Venture Pulse Q4 20...

    KPMG
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    https://Policy.report/news-article.aspx?ID=10931093

    HONAN REVEALS INSURANCE PREDICTIONS FOR 2019

    Jan 22, 2019

    Honan Insurance Group has predicted challenging buying conditions for insurance in 2019, impacted by the Hayne royal commission, the resubmission of Lloyd’s business plans, Brexit, economic factors, and an overactive merger-and-acquisition environment.
    “We are already witnessing g...

    HONAN
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    https://Policy.report/news-article.aspx?ID=10941094

    ACC REVEALS E-SCOOTER CLAIMS FIGURES

    Jan 22, 2019

    State insurer Accident Compensation Corporation (ACC) has revealed its electric scooter injury claims total following a media request. As of January 21, ACC saw 845 e-scooter injury claims, a big jump from the 655 claims just before the New Year, NZ Herald reports. ACC provided the publication with ...

    ACC
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    https://Policy.report/news-article.aspx?ID=10951095

    VIETNAM INSURANCE SECTOR POSTS 24% INCREASE IN PREMIUM INCOME

    Jan 19, 2019

    Vietnam’s insurance industry has recorded VND133.65 trillion (US$5.76 billion) in premium revenue in 2018, up 24% from the previous year, according to the Ministry of Finance’s Insurance Supervisory Authority. General insurance companies contributed VND45.7 trillion (US$1.96 billion), wh...

    INSURANCE SUPERVISORY AUTHORITY
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    https://Policy.report/news-article.aspx?ID=10871087

    STUDY: WEATHER-DRIVEN INSURANCE CLAIMS HAVE MORE THAN QUADRUPLED OVER THE LAST DECADE

    Jan 18, 2019

    New research from the University of Waterloo has revealed that insurance claims from weather-related problems such as flooding have more than quadrupled over the last 10 years – even after taking the increase in real estate prices into consideration. The same study, which came from the univers...

    UNIVERSITY OF WATERLOO
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    https://Policy.report/news-article.aspx?ID=10851085

    CHINA, GERMANY DEEPEN FINANCE AND INSURANCE TIES

    Jan 18, 2019

    China and Germany have signed agreements to strengthen cooperation in the finance and insurance industries, as well as further opening up their markets to each other. The agreements were signed during German Finance Minister Olaf Scholz’s two-day visit to Beijing, where he met Vice Premier Liu...

    REUTERS
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    https://Policy.report/news-article.aspx?ID=10861086

    AIG NAMED OFFICIAL INSURANCE PARTNER OF PGA OF AMERICA

    Jan 17, 2019

    American International Group (AIG) has been named the official insurance partner of the PGA of America, as well as some of the golf organization’s most prestigious championships. These include the PGA Championship, the KPMG Women’s PGA Championship and the KitchenAid Senior PGA Champions...

    AMERICAN INTERNATIONAL GROUP
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    https://Policy.report/news-article.aspx?ID=10771077

    EY CANADA ANNOUNCES NEW CENTRE OF EXCELLENCE FOR INSURERS

    Jan 17, 2019

    Advisory services firm EY Canada is launching a new Centre of Excellence for insurance companies. The Centre for Insurance and Actuarial Services will be based in both Toronto and Quebec City, a release said. EY’s new centre will guide insurers on regulatory changes, as well as on how to keep ...

    EY CANADA
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    https://Policy.report/news-article.aspx?ID=10781078

    TOTAL INSURED DAMAGE FROM EXTREME WEATHER IN CANADA REACHES $1.9 BILLION

    Jan 16, 2019

    Thanks to storms in British Columbia that hit the province at the end of December, the Insurance Bureau of Canada (IBC) has reported that the total insured damage from extreme weather has now reached $1.9 billion for 2018, using loss data from Catastrophe Indices and Quantification Inc. Windstorms t...

    CATASTROPHE INDICES AND QUANTIFICATION INC
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    https://Policy.report/news-article.aspx?ID=10791079

    SUNCORP MOVES TO RESPOND QUICKLY TO HAILSTORM CLAIMS

    Jan 16, 2019

    Suncorp has established additional motor-vehicle assessment and repair centres in Botany, Gosford, Moorebank, and Campbelltown, in response to the catastrophic hailstorms that lashed across Sydney, Central Coast, and the South East Queensland regions in December. The hail assessment centres have bot...

    SUNCORP
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    https://Policy.report/news-article.aspx?ID=10681068

    RBC INSURANCE LAUNCHES NEW OFFERING FOR WORKERS TAKING TIME OFF FOR DISABLED LOVED ONES

    Jan 16, 2019

    RBC Insurance is launching a new rider for its disability insurance product offering, with the aim of helping consumers balance their workplace and caregiver responsibilities. The new Family Compassionate Care Rider (FCCR) is an option for select disability plans. Through the FCCR, the insured recei...

    RBC INSURANCE
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    https://Policy.report/news-article.aspx?ID=10691069

    ZURICH UK ARMOURS UP AGAINST INSURANCE FRAUD

    Jan 16, 2019

    Zurich has bolstered its anti-fraud efforts in the UK with the help of existing partner BAE Systems. Announcing a major extension to their eight-year partnership, Zurich UK said it has deployed the technology-led defense firm’s property and casualty fraud tool across multiple business areas in...

    ZURICH
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    https://Policy.report/news-article.aspx?ID=10701070

    BROWN & BROWN BUYS IZZO INSURANCE SERVICES

    Jan 16, 2019

    Insurance brokerage Brown & Brown, Inc. has today announced the acquisition of Izzo Insurance Services, Inc., an Illinois-based wholesale brokerage that specializes in workers’ compensation insurance. The deal was made by Hull & Company, LLC, a subsidiary of Brown & Brown. Izzo Ins...

    BROWN & BROWN, INC
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    https://Policy.report/news-article.aspx?ID=10711071

    GEORGIA COUNTY COMMISSIONER, WIFE CHARGED WITH INSURANCE FRAUD

    Jan 15, 2019

    A Georgia county commissioner and his wife have been charged with multiple counts of insurance fraud and violating the state’s insurance code. Bob Coleman, a Glynn County commissioner and insurance agent, and his wife, Sherry Coleman, have been charged with 15 felony counts of violating the Ge...

    COLEMAN INSURANCE AGENCY
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    https://Policy.report/news-article.aspx?ID=10601060

    MAN THREATENS TO BURN INSURANCE OFFICE OVER CLAIM DISPUTE

    Jan 15, 2019

    A Maryland man has been arrested for allegedly threatening to burn down an Erie Insurance office. Charles Everett Jones, 51, has been charged with one count of threatening arson, according to a report by Washington, D.C.’s WJLA. According to police, Jones who was in an ongoing claims dispute w...

    ERIE INSURANCE
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    https://Policy.report/news-article.aspx?ID=10611061

    SAFFRON INSURANCE REVEALS FARMER INSURANCE BROKERS ACQUISITION

    Jan 15, 2019

    It was back in March last year that Insurance Business spoke to Saffron Insurance about its acquisition streak – the firm having announced two acquisitions within the space of a week. Now it seems the firm is back on the acquisition trail and kicking off 2019 in style. Broker Network’s E...

    SAFFRON INSURANCE
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    https://Policy.report/news-article.aspx?ID=10621062

    HOMEOWNERS WITH DEFECTIVE KITEC PLUMBING ENCOURAGED TO NOTIFY INSURERS ON BACK OF LAWSUIT

    Jan 14, 2019

    Homeowners whose properties are fitted with Kitec plumbing are being called on to claim their part of a settlement in a major class-action involving faulty water systems. Kitec plumbing was originally billed as a more affordable and easier-to-install alternative to copper piping. However, the fittin...

    AMERISPEC INSPECTION SERVICES
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    https://Policy.report/news-article.aspx?ID=10501050

    HEALTH INSURANCE REFORM TRIGGERS BENEFIT CUTS

    Jan 12, 2019

    Medibank, NIB, Bupa, and other health insurers have slashed some benefits, with some policyholders paying higher premiums for less coverage, in response to government reforms to make private health insurance simpler for some 13 million consumers. Starting April 01, all existing 70,000 private health...

    MEDIBANK
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    https://Policy.report/news-article.aspx?ID=10511051

    EQC CLARIFIES POSITION ON ST CLAIR HOMES INSURANCE CASE

    Jan 12, 2019

    The Earthquake Commission (EQC) has issued a statement clarifying its position on the insurance claims of landslip-affected homeowners in Dunedin. Six Dunedin homes have been evacuated since the city council issued dangerous building notices in December after a large slip and cracking was discovered...

    EARTHQUAKE COMMISSION
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    https://Policy.report/news-article.aspx?ID=10521052

    CHINA FORECASTS CONTINUED RAPID INSURANCE GROWTH

    Jan 12, 2019

    China’s insurance market will remain the fastest-growing in the world for the next 10 years in terms of insurance premiums, according to experts at an insurance conference held in the country. “We believe China will still be the fastest-growing insurance market in the world in the coming...

    CHINA LIFE INSURANCE
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    https://Policy.report/news-article.aspx?ID=10531053

    JAPAN MULLING MANDATORY LIABILITY INSURANCE FOR CYCLISTS

    Jan 12, 2019

    A panel under Japan’s Transport Ministry has announced plans to call on local government units to pass ordinances requiring cyclists to have liability insurance. The initiative comes after a series of court cases ordering huge damages payments for bicycling accidents that ended up with serious...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=10541054

    THE RISE OF NEW INSURANCE PLAYERS IN AN INCUMBENT MARKET

    Jan 11, 2019

    New Zealand’s insurance market has traditionally been made up of well established, large-scale incumbents; however, it has recently seen a growing number of new, smaller players offering niche specialisms and competing against certain areas of the big companies’ businesses. Underwriters ...

    S&P GLOBAL
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    https://Policy.report/news-article.aspx?ID=10401040

    INSURANCE IN SUPERANNUATION REFORMS COULD DRIVE RETIREMENT SAVINGS

    Jan 11, 2019

    The Productivity Commission has recommended an overhaul of the multi-billion dollar business of selling insurance through superannuation policies to drive retirement incomes higher. Key reforms include making insurance an opt-in for fund members aged under 25 to stop the erosion of retirement funds ...

    ASIC
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    https://Policy.report/news-article.aspx?ID=10411041

    AI TO HELP KOREAN INSURERS ASSESS CAR ACCIDENT DAMAGE

    Jan 11, 2019

    The Korea Insurance Development Institute (KIDI) is developing an AI-based system that will help insurers calculate the costs of vehicular accidents quicker. KIDI has announced that it is already in the first phase of developing the artificial intelligence, according to a Pulse News report. The syst...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=10421042

    HEALTH INSURANCE EXCHANGE ENROLLMENTS CONTINUE TO DECLINE IN WEST VIRGINIA

    Jan 11, 2019

    Fewer West Virginians have health insurance through the Mountain State’s exchange for 2019. In all, the Centers for Medicare and Medicaid Services reported 22,599 total enrollments, a number that’s down from the 27,000 West Virginians enrolled in exchange health insurance plans for 2018 ...

    FIRST CHOICE
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    https://Policy.report/news-article.aspx?ID=10431043

    AMERISAFE SET TO GROW ON ITS NICHE IN HIGH-HAZARD INSURANCE

    Jan 11, 2019

    Amerisafe Inc.  has 32 years of operating history to its credit as a specialty provider of workers’ compensation insurance for small to midsize employers engaged in high-hazard industries. The line of business that the insurer follows has been profitable because it brings to the company h...

    AMERISAFE INC
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    https://Policy.report/news-article.aspx?ID=10441044

    MULTIPLE GAPS IN IMPLEMENTING FLAGSHIP CROP INSURANCE SCHEME

    Jan 09, 2019

    Instead of appreciation, the Modi government’s flagship schemes for crop insurance, the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme have attracted criticism even though the PMFBY is substantially superior to crop insurance schemes under previou...

    HT MEDIA LTD
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    https://Policy.report/news-article.aspx?ID=10171017

    FLOOD COMPENSATION FUND FOR FIRST NATIONS DELAYED DUE TO DEFICIENT CLAIMS

    Jan 09, 2019

    While a Manitoba court last year approved a $90 million settlement to First Nations residents affected by the 2011 flooding, lawyers representing the affected homeowners are looking to delay the payouts due to an alleged deficiency in the residents’ claims. An estimated 7,000 people from four ...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=10241024

    BILL SEEKS TO CHANGE MAKEUP OF WORKER’S COMPENSATION INSURANCE COUNCIL

    Jan 09, 2019

    Senate Bill 36 would revise the membership of the State Workers' Compensation Advisory Council from eight to nine members. State Workers' Compensation Advisory Council annually reviews the state worker’s compensation insurance program and, if needed, recommends changes to the governor ...

    COMPENSATION ADVISORY COUNCIL
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    https://Policy.report/news-article.aspx?ID=10301030

    NEXTHOME LAUNCHES FULL-SERVICE INSURANCE OFFERING THROUGH PREMIER PARTNER GATEWAY INSURANCE GROUP, INC.

    Jan 09, 2019

    NextHome, the progressive real estate franchise with consumer-focused branding, technology and marketing, announces its exclusive partnership with Gateway Insurance Group, Inc., a contemporary insurance agency that advocates for practicality and protection, set on providing buyers and sellers with e...

    NEXTHOME
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    https://Policy.report/news-article.aspx?ID=10311031

    ACA HEALTH INSURANCE ENROLLMENT DOWN 5 PERCENT

    Jan 09, 2019

    The period for enrolling in Affordable Care Act health insurance plans for 2019 concluded Dec. 15, 2018, and 148,180 Oregonians enrolled in plans using HealthCare.gov. While this is the first year the number of enrollees decreased from the year prior, officials with the Oregon Health Insurance Marke...

    NORTHEAST OREGON NETWORK
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    https://Policy.report/news-article.aspx?ID=10321032

    BLUE CROSS CUT INSURANCE RATES, BUT SOME NC CUSTOMERS ARE EXPERIENCING STICKER SHOCK

    Jan 09, 2019

    Call it the law of unintended consequences, or the law of misunderstood form letters. Some Blue Cross and Blue Shield customers are seeing their health insurance rates spike this year despite the company’s first rate cut since it entered North Carolina’s individual insurance market more ...

    BLUE CROSS AND BLUE SHIELD
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    https://Policy.report/news-article.aspx?ID=10331033

    HEALTH INSURANCE STOREFRONTS PROVING DURABLE

    Jan 09, 2019

    Two Pennsylvania insurance companies that ventured into retail storefronts in recent years say their initiatives continue to show benefits to consumers but expansion plans are on hold, at least through 2019.

    BLUECROSS
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    https://Policy.report/news-article.aspx?ID=10341034

    WASHINGTON GOVERNOR, NY MAYOR PUSH EXPANDED HEALTH COVERAGE

    Jan 08, 2019

    Washington's governor and New York City's mayor unveiled major initiatives to expand health insurance coverage Tuesday, the latest moves by key Democratic leaders to address Trump administration health policies they say are keeping people from getting the care they need. Washington Gov. Jay ...

    WJHL
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    https://Policy.report/news-article.aspx?ID=10161016

    GRAIN FARMERS IN NEED OF INSURANCE COVERAGE FOR MOULD INFESTATION

    Jan 08, 2019

    Grain farmers in the province of Ontario are finding themselves in a pinch, since there are, apparently, no insurance programs that can cover for a costly mould infestation-driven shortfall. According to the group Grain Farmers of Ontario, farmers could be looking at a $200-million shortfall due to ...

    GRAIN FARMERS
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    https://Policy.report/news-article.aspx?ID=10101010

    LLOYD’S TO CHALLENGE COURT ORDER TO PAY FOR STOLEN GOLDEN EAGLE

    Jan 08, 2019

    Lloyd’s Underwriters is challenging a BC court’s order to cover the theft of a golden, diamond-studded eagle. Last month, the BC Supreme Court issued a default judgment against the insurer, ordering Lloyd’s to pay plaintiff Forgotten Treasures International and its president, Ron S...

    LLOYD
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    https://Policy.report/news-article.aspx?ID=10111011

    NSW HAILSTORM DAMAGE BILL HITS $670M

    Jan 08, 2019

    The damage bill caused by the catastrophic hailstorms which lashed across Sydney, Central Coast, and South East Queensland regions late last month has tripled over the past week, as more residents return from the holidays to discover damage to their properties. More than 25,000 people had lodged cla...

    INSURANCE COUNCIL OF AUSTRALIA
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    https://Policy.report/news-article.aspx?ID=10121012

    PRICING GAP EMERGES IN 2019 REINSURANCE RENEWALS – WILLIS RE

    Jan 08, 2019

    Reinsurance placements at January 01, 2019 have shown a pricing gap between accounts with peak peril exposures or poor loss records and the rest, Willis Re observed. Furthermore, many reinsurers are placing emphasis on the quality of client counterparties, according to the latest 1st View renewals r...

    WILLIS RE
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    https://Policy.report/news-article.aspx?ID=10131013

    ZURICH MALAYSIA, LOANSTREET TO OFFER MOTORCYCLE INSURANCE ONLINE

    Jan 08, 2019

    Zurich Malaysia and financial products comparison website Loanstreet have partnered to sell insurance for motorcycles online, in order to address the alarmingly low number of insured motorcyclists. Longstreet, which is operated by Malaysian fintech firm Finology, will also allow motorists to renew r...

    ZURICH
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    https://Policy.report/news-article.aspx?ID=10141014

    GEORGIA IS POSITIONED TO ENACT CHANGES ON HEALTH INSURANCE

    Jan 08, 2019

    The federal government’s recent shutdown had many people wondering if Washington can ever return to functioning properly. In fact, this is a feature of our system, not a bug: Congress holds the power of the purse, and it’s well within its rights to withhold funding when at loggerheads wi...

    THE BLACKSHEAR TIMES
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    https://Policy.report/news-article.aspx?ID=10181018

    REPORT: DRUG PRICES DRIVE UP INSURANCE PREMIUM COSTS

    Jan 07, 2019

    Prescription drugs have an increasing impact on health insurance costs in Vermont, and high-priced speciality drugs are leading the way. A new report from the Green Mountain Care Board says prescriptions were responsible for nearly 16 percent of premiums in 2018 for three insurers Blue Cross and Blu...

    VERMONT
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    https://Policy.report/news-article.aspx?ID=10151015

    PROPOSED CHANGES TO MOTOR ACCIDENT INSURANCE SCHEMES TO COST TAXPAYERS

    Jan 07, 2019

    The National Transport Commission (NTC) has suggested extending the state-backed motor accident injury insurance (MAII) schemes to driverless cars to ensure that people injured in autonomous cars are not left in limbo – a proposal opposed by the Insurance Commission of WA (ICWA). Under the NTC...

    ICWA
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    https://Policy.report/news-article.aspx?ID=10001000

    INDUSTRY WANTS CLARIFICATION ON PROPOSED BAN ON INSURANCE COMMISSIONS

    Jan 07, 2019

    An ASIC submission recommending a blanket, industry-wide ban on conflicted remuneration to brokers on all general-insurance products has the industry all confused over what products and payments would be covered by the proposed ban, as it was argued that an outright ban on all commissions could upen...

    ASIC
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    https://Policy.report/news-article.aspx?ID=10011001

    GRANITE UNDERWRITING SECURES PRIVATE EQUITY INVESTMENT

    Jan 07, 2019

    Specialist motor insurance MGA Granite Underwriting has secured a minority investment from Inflexion Private Equity, an independent mid-market private equity house based in London. Liverpool-based Granite was established in 1982 and comprises of a number of specialist motor insurance brands, caterin...

    MGA
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    https://Policy.report/news-article.aspx?ID=10021002

    WHY QUARTERBACKS CHOOSE A CAREER IN P&C INSURANCE

    Jan 07, 2019

    They were running the offense back in the day, but many former college quarterbacks are now playing in a different league namely, the property and casualty (P&C) insurance industry. According to the Wall Street Journal, many former players have become prominent insurance professionals in the P&a...

    WALL STREET JOURNAL
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    https://Policy.report/news-article.aspx?ID=10031003

    FORMER INSURANCE MD GOES PUBLIC AFTER EX-WIFE PAYS UP FOR TWO-DECADE PATERNITY FRAUD

    Jan 07, 2019

    MoneySuperMarket co-founder and former managing director Richard Mason is reportedly offering a monetary incentive in his search for the real father of his ex-wife’s three children all born in the ‘90s whom he thought was his own until he found out in 2016 that he had been infertile all ...

    MONEYSUPERMARKET
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    https://Policy.report/news-article.aspx?ID=10041004

    IAG'S $1 BILLION REINSURANCE BOOST TRIGGERS SHARES SPIKE

    Jan 04, 2019

    Insurance Australia Group’s shares spiked by 1.5% in the first half hour of trading last Thursday after the major insurer announced a $1 billion increase in its 2019 catastrophe reinsurance program. The group renewed its gross reinsurance protection to up to $9 billion for 2019, up from the pr...

    INSURANCE AUSTRALIA GROUP
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    https://Policy.report/news-article.aspx?ID=992992

    FREEDOM INSURANCE FACES $10 MILLION LOSS

    Jan 04, 2019

    Freedom Insurance Group is expecting nearly $10 million in lost earnings for the second half of 2018. The news comes after the troubled ASX-listed insurer failed to acquire the Bank of Queensland’s life insurance business and warned of a potential liquidity shortfall in 2019.

    FREEDOM INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=993993

    SKIN CANCER APP PARTNERS WITH INSURANCE FIRM

    Jan 04, 2019

    New Zealand health technology company Firstcheck has partnered with Australian insurance specialist TAL to tackle high rates of skin cancer. The move follows the publication of new Australasian research, which revealed that 85.4% of melanomas were self-detected by the patient - or by a family or fri...

    TAL
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    https://Policy.report/news-article.aspx?ID=994994

    MEN IN BRITAIN CONVICTED OF MURDERING FIVE IN INSURANCE SCAM

    Jan 04, 2019

    Three men in Britain have been convicted of murdering five people as part of an insurance scam. Arkan Ali, Hawkar Hassan and Aram Kurd were convicted late last month in Leicester Crown Court, according to an Associated Press report. According to prosecutors, the trio blew up a supermarket last Febru...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=986986

    STIFF PENALTIES UNDER THE FALSE CLAIMS ACT CAN PARALYZE HEALTHCARE PROVIDERS

    Jan 04, 2019

    In 2017, the US government recovered $2.4 billion from the healthcare industry as a result of actions under the False Claims Act (FCA), a law that originated in the 1800s with the intent of imposing liability on those that defraud government programs. Over recent decades, healthcare and procurement ...

    CFC UNDERWRITING
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    https://Policy.report/news-article.aspx?ID=987987

    BOUTIQUE CONSTRUCTION INSURANCE BROKERAGE APEX LAUNCHES IN WINNIPEG

    Jan 03, 2019

    A new, construction-focused boutique insurance brokerage has launched in Winnipeg. Apex Surety & Insurance is the brainchild of five partners, with the goal of delivering “cutting edge solutions for the construction and real estate markets in Manitoba and Western Canada,” a release s...

    APEX SURETY & INSURANCE
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    https://Policy.report/news-article.aspx?ID=991991

    FORMER GA GUBERNATORIAL CANDIDATE CHARGED WITH INSURANCE FRAUD

    Jan 02, 2019

    A former Georgia gubernatorial candidate has been charged with insurance fraud.
    Michael Williams, who also served as a Georgia state senator, faces three charges related to insurance fraud and the false reporting of a crime following a probe by the Georgia Bureau of Investigation, according t...

    THE GAINESVILLE TIMES
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    https://Policy.report/news-article.aspx?ID=980980

    COUNTRY & COMMERCIAL INSURANCE BROKERS REVEALS SWOOP

    Jan 02, 2019

    Barely a year since being snapped up by Global Risk Partners (GRP), agricultural brokerage Country & Commercial Insurance Brokers Ltd (CCIB) is making its own acquisition. The spotlight has fallen on Longridge-based Key Insurance Group, which will move into CCIB offices after completion of the t...

    GLOBAL RISK PARTNERS
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    https://Policy.report/news-article.aspx?ID=983983

    BAN FOR FORMER BC INSURANCE AGENT

    Jan 02, 2019

    An ex-life insurance adviser has been blacklisted from the industry after he fraudulently made about $650,000 in commissions. The former agent, Paul Bradbeer, filed over 100 fake client applications under bogus names. For his scheme, he was fined $10,000 by the Insurance Council of BC last week on t...

    BRADBEER
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    https://Policy.report/news-article.aspx?ID=984984

    THE HILB GROUP ACQUIRES MASSACHUSETTS’ H.J. KNIGHT INTERNATIONAL INSURANCE AGENCY

    Dec 27, 2018

    The Hilb Group LLC (THG) has acquired Massachusetts-based H.J. Knight International Insurance Agency Inc. (HJK). The transaction became effective December 1, 2018. HJK is a full-service brokerage in the commercial insurance and risk management industry. Founded in 1987, the company specializes in al...

    THE HILB GROUP LLC
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    https://Policy.report/news-article.aspx?ID=975975

    AMAZON'S 2019 HEALTHCARE MOVE? INSURANCE, ANALYST PREDICTS

    Dec 27, 2018

    Amazon could make a big play in the health insurance insurance industry next year, according to CNBC. Stephen Buck, co-founder of health transparency company Courage Health, told CNBC that Amazon's recent healthcare deals signal the company could make a bold move into health insurance in 2019. AMAZON
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    https://Policy.report/news-article.aspx?ID=976976

    NEBRASKA FARM BUREAU'S HEALTH INSURANCE PROGRAM OFF TO SOLID START WITH 700 SIGNUPS

    Dec 27, 2018

    The Nebraska Farm Bureau has signed up 700 people for its new health insurance plans. The Farm Bureau partnered with Medica to offer the plans, which have premiums roughly 25 percent cheaper than those offered through the state’s Affordable Care Act exchange, not accounting for any subsidies. ...

    THE NEBRASKA FARM BUREAU
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    https://Policy.report/news-article.aspx?ID=977977

    INSURANCE CLAIMS MAY REACH $1.1BN FOLLOWING INDONESIA TSUNAMI

    Dec 27, 2018

    Insurers may have to pay out as much as $1.1 billion in claims following the devastating tsunami which hit the Lampung and Banten provinces of Indonesia last week, according to insurance firms PT Maskapai Reasuransi Indonesia (REI) and PT Asuransi Maipark Indonesia.

    PT MASKAPAI REASURANSI INDONESIA
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    https://Policy.report/news-article.aspx?ID=978978

    UBER UGANDA MOVES TO PROTECT RIDERS AND CLIENTS WITH INSURANCE COVER

    Dec 27, 2018

    Uber Uganda has revealed the introduction of injury protection for their clients. “We’re rolling out Injury Protection provided by UAP Old Mutual to provide an added peace of mind to our riders and driver partners in Uganda when using Uber,” read a statement Uber Uganda officials r...

    UBER
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    https://Policy.report/news-article.aspx?ID=979979

    FIRES AND EXPLOSIONS TOP CAUSES FOR GLOBAL CORPORATE INSURANCE SPEND: REPORT

    Dec 26, 2018

    Fire and explosions lead to the largest claims for insurers and the businesses they cover, and the Asia-Pacific region is seeing growing exposure to business claims, a recent report from Allianz showed. The findings were revealed by Allianz Global Corporate & Specialty (AGCS), a dedicated corpor...

    ALLIANZ GLOBAL CORPORATE & SPECIALTY
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    https://Policy.report/news-article.aspx?ID=963963

    CONFIDENCE ON THE RISE IN BRAZIL'S INSURANCE SECTOR

    Dec 26, 2018

    The level of confidence among Brazilian insurers, reinsurers and insurance brokers increased in December. It marked the third consecutive month of growing confidence amid expectations that president-elect Jair Bolsonaro (pictured) will adopt an agenda that is strongly pro-business. Bolsonaro takes o...

    DE SEGUROS
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    https://Policy.report/news-article.aspx?ID=964964

    FAILED POLICIES, DECLINING CONFIDENCE SLOW INSURANCE INDUSTRY’S GROWTH

    Dec 26, 2018

    The Nigerian insurance industry is a very peculiar sector where understanding and tolerance are minimal between the different segments that make up the industry, but in which the regulated entities are always quick to drag the regulator to court over every slight provocation. In fact, in 2018, the N...

    NATIONAL INSURANCE COMMISSION
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    https://Policy.report/news-article.aspx?ID=965965

    TASK FORCE TAKES ON LOUISIANA AUTO INSURANCE RATES TO IMPROVE AFFORDABILITY

    Dec 26, 2018

    Louisiana auto insurance rates are among the least affordable in the United States, according to a recent Insurance Research Council (IRC) study. The study was titled: “Auto Insurance Affordability: Cost Drivers in Louisiana”. That said, the Louisiana High Auto Rates Task Force has been ...

    INSURANCE RESEARCH COUNCIL
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    https://Policy.report/news-article.aspx?ID=969969

    MOTOR INSURANCE AUTHENTICATION BLOCKCHAIN APPLIED IN HONG KONG

    Dec 21, 2018

    The Hong Kong Federation of Insurers (HKFI) has launched its Motor Insurance DLT-based Authentication System (MIDAS). This is a blockchain application that will help to authenticate motor insurance cover notes and policies.

    HONG KONG FEDERATION OF INSURERS
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    https://Policy.report/news-article.aspx?ID=968968

    TAX RELIEF FOR INSURANCE PREMIUMS TO BENEFIT SINGAPORE ECONOMY - PWC

    Dec 21, 2018

    A tax write-off for insurance premiums will encourage higher uptake of health insurance amid growing pressure on Singapore’s healthcare system, according to global consultancy firm PwC. According to PwC Singapore’s Budget Proposal 2019, the relief will allow more taxpayers to purchase he...

    PWC
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    https://Policy.report/news-article.aspx?ID=955955

    BOWTIE FIRST TO RECEIVE HONG KONG VIRTUAL INSURER LICENCE

    Dec 21, 2018

    Bowtie Life Insurance Company Ltd has been granted the first virtual insurer licence by Hong Kong’s Insurance Authority, under its fast track pilot scheme. In its recent series A funding round, Bowtie raised HK$234 million (US$30 million) from Sun Life Hong Kong. Its shareholders include Hong ...

    BOWTIE LIFE INSURANCE COMPANY LTD
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    https://Policy.report/news-article.aspx?ID=956956

    MANITOBA TO CONSULT ON MANDATORY ENTRY-LEVEL TRAINING FOR TRUCK DRIVERS

    Dec 21, 2018

    The government has been consulting with Manitoba Public Insurance (MPI) and Manitoba Education and Training since April to establish a harmonized foundation on driver training for class one vehicles. Industry-wide consultation meetings are set to take place on January 07 in Winnipeg and January 10 i...

    MANITOBA PUBLIC INSURANCE
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    https://Policy.report/news-article.aspx?ID=957957

    SCOTIABANK TO SELL DOMINICAN REPUBLIC PENSION AND INSURANCE OPERATIONS

    Dec 21, 2018

    Continuing its exit from the Caribbean markets revealed last month, Scotiabank has announced plans to sell its pension and related insurance businesses in the Dominican Republic. The Canadian financial company has reached an agreement for the sale of Scotia Crecer AFP (the pension business) and Scot...

    SCOTIABANK
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    https://Policy.report/news-article.aspx?ID=958958

    INSURERS FIGHT BACK AS CANADA HIT WITH GROUP BENEFITS FRAUD EPIDEMIC

    Dec 20, 2018

    Group benefits fraud remains a serious issue in Canada, as recent incidents indicate. Last year, a Toronto firefighter was sentenced to six months in prison for submitting $32,000 in forged receipts for healthcare and other related services. Bradley Evaschuk submitted 23 fraudulent health benefits c...

    SUN LIFE
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    https://Policy.report/news-article.aspx?ID=959959

    COVÉA INSURANCE EXPANDS PET PROPOSITION WITH CHARITY TIE-UP

    Dec 20, 2018

    Covéa Insurance has partnered with animal welfare charity RSPCA. Described as “so much more than selling insurance,” the tie-up features a unique benefit wherein 15% of the price paid for every policy sold will go directly towards caring for uninsured sick and neglected animals. S...

    COVÉA INSURANCE
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    https://Policy.report/news-article.aspx?ID=943943

    INSURANCE INDUSTRY REACTION: REGULATOR ADDRESSES PRICING SUPER-COMPLAINT

    Dec 20, 2018

    Remember that Citizens Advice super-complaint, filed with the Competition and Markets Authority (CMA), which led to the Financial Conduct Authority (FCA) market study into general insurance pricing? The CMA has conducted its investigation and found a total loyalty penalty the higher cost paid for by...

    COMPETITION AND MARKETS AUTHORITY
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    https://Policy.report/news-article.aspx?ID=944944

    UK INSURANCE BODY SLAMS EU NO-DEAL CONTINGENCY PLAN

    Dec 20, 2018

    Yesterday, a hundred days before the UK bids the European Union goodbye, the latter’s executive body rolled out its no-deal contingency action plan. It includes measures for areas such as financial services, air transport, and customs. The Association of British Insurers (ABI), however, is not...

    ASSOCIATION OF BRITISH INSURERS
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    https://Policy.report/news-article.aspx?ID=945945

    INSURANCE SECTOR STEADILY EMBRACING REMOTE WORK - REPORT

    Dec 20, 2018

    The insurance industry may have a reputation for beingly staunchly corporate and traditional but new research suggests otherwise after the sector was found to be rapidly embracing remote work. According to data from online jobs site FlexJobs, the insurance industry has seen a jump of over 50% in rem...

    FLEXJOBS
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    https://Policy.report/news-article.aspx?ID=946946

    ACCC CALLS FOR INSURANCE REFORMS IN NORTHERN AUSTRALIA

    Dec 19, 2018

    Australia’s competition watchdog has proposed scrapping stamp duty on insurance products, banning commissions for insurance brokers, and applying unfair contract terms protections to insurance products in northern Australia, as part of a wide range of reforms towards improving insurance afford...

    AUSTRALIAN COMPETITION AND CONSUMER COMMISSION
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    https://Policy.report/news-article.aspx?ID=934934

    RENAISSANCERE, PGGM ANNOUNCE NEW PROPERTY CAT REINSURER

    Dec 19, 2018

    US-based RenaissanceRe Holdings and Dutch pension fund manager PGGM have created Vermeer Reinsurance Ltd., which will provide capacity focused on risk remote layers in the US property catastrophe market. According to a statement by the two firms, Vermeer will be initially capitalized with US$600 mil...

    VERMEER REINSURANCE LTD
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    https://Policy.report/news-article.aspx?ID=941941

    AXIS INSURANCE: ‘WE HAVE TO OFFER TANGIBILITY IN CYBER INSURANCE’

    Dec 19, 2018

    Intangible risk is a difficult concept to grasp. How can something be risky if you can’t see it? How can you lose money on something that has no palpable value? This is the backdrop that cyber insurers, brokers and risk managers are constantly battling against. And they’ve done a great j...

    AXIS INSURANCE
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    https://Policy.report/news-article.aspx?ID=942942

    BUDGET CARRIER FACES $2 MILLION FINE OVER MISLEADING REFUND CLAIMS

    Dec 18, 2018

    Brokers may need to educate their clients about their rights to refunds should their flights be canceled or delayed in light of a recent case Australia’s consumer watchdog filed against a budget carrier. Jetstar has been taken to court by the Australian Competition and Consumer Commission (ACC...

    AUSTRALIAN COMPETITION AND CONSUMER COMMISSION
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    https://Policy.report/news-article.aspx?ID=935935

    PROTECTIVE, 5STAR EXPAND PUBLIC AUTO PARTNERSHIP

    Dec 18, 2018

    Protective Insurance Company and 5Star Specialty Programs are expanding their strategic partnership in the public auto market, the companies have announced. Effective immediately, 5Star will be Protective’s sole distribution source for its commercial auto insurance offering in the public auto ...

    PROTECTIVE INSURANCE COMPANY
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    https://Policy.report/news-article.aspx?ID=931931

    LEGAL EXPENSE INSURANCE THE NEXT HOT PRODUCT FOR CANADA’S SMALL BUSINESS OWNERS

    Dec 17, 2018

    The cost and complexity of the Canadian legal system are often too much for small business owners to bear. According to the Canadian Lawyer Magazine 2018 Legal Fees Survey, the average hourly rate for an experienced lawyer in Canada is $414. If a small business finds itself caught up in a legal disp...

    CANADIAN LAWYER
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    https://Policy.report/news-article.aspx?ID=932932

    ICBC ASKS FOR 6.3% AUTO INSURANCE RATE HIKE

    Dec 17, 2018

    Motorists in British Columbia should ready themselves for potentially higher insurance rates in 2019, with the Insurance Corporation of British Columbia (ICBC) asking the BC Utilities Commission for a 6.3% increase in basic insurance rates. The request comes amid a growing sense of financial gloom a...

    INSURANCE CORPORATION OF BRITISH COLUMBIA
    READ MORE

    https://Policy.report/news-article.aspx?ID=933933

    AGENTS WARNED ABOUT E&O RISKS IN CLAIMING CYBER, CANNABIS EXPERTISE

    Dec 14, 2018

    Insurance agents and brokers who market themselves as experts in cannabis or cyber could wind up regretting that positioning. Because both are relatively new exposures subject to changing regulations and coverages, producers marketing themselves as experts could face scrutiny, lawsuits and possible ...

    QBE
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    https://Policy.report/news-article.aspx?ID=921921

    ALLSTATE INSURANCE WON’T SELL TO BRAMPTON RESIDENTS DUE TO ‘HIGH RISK’ OF FRAUD AMONG VISIBLE MINORITIES, LAWSUIT CLAIMS

    Dec 14, 2018

    A former employee at one of Canada's largest insurance providers is accusing the company of discriminating against residents in Brampton. In a wrongful dismissal lawsuit, Allstate Insurance Company of Canada is accused of implementing a discriminatory practice that prevented employees from selli...

    ALLSTATE INSURANCE COMPANY
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    https://Policy.report/news-article.aspx?ID=922922

    COVER-MORE REVEALS THE MOST BIZARRE TRAVEL INSURANCE CLAIMS OF THE YEAR

    Dec 14, 2018

    A simple blister that turned into a $20,000 medical fiasco and a couple attacked by a turtle are some of the most bizarre travel claims of the year, according to insurance company Cover-More. Cover-More has combed through its claims over 2018 and unearthed some absolute pearlers as well as the more ...

    COVER-MORE
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    https://Policy.report/news-article.aspx?ID=924924

    MASSACHUSETTS SMALL BUSINESS HEALTH INSURANCE PREMIUMS 2ND HIGHEST IN US, STUDY FINDS

    Dec 14, 2018

    Massachusetts small business owners buying health insurance for their employees are spending more than businesses in most other states and are getting less for that money, according to data released Thursday by Massachusetts’ Health Policy Commission. That is true even as individuals and small...

    MASSACHUSETTS HEALTH POLICY COMMISSION
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    https://Policy.report/news-article.aspx?ID=925925

    FOREIGN LABOUR COULD BE PUT OFF BY VIETNAM’S SOCIAL INSURANCE POLICY

    Dec 14, 2018

    According to the Vietnam Business Forum 2018 (VBF 2018) investment and trade working group, the social insurance contribution rates that have been imposed on both foreign employees and their employers under Decree No. 143/2018/ND-CP, will be the same as those applicable to Vietnamese employees. For ...

    VIETNAMNET BRIDGE
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    https://Policy.report/news-article.aspx?ID=926926

    MARSH UNVEILS NEW INSURANCE FACILITIES FOR GIG ECONOMY, SELF-DRIVING

    Dec 14, 2018

    Marsh has launched two new insurance facilities to meet the casualty risks of clients in the sharing economy and the autonomous mobility industry. The Sharing Economy Insurance Facility provides up to $10 million in dedicated primary auto liability and excess casualty coverage to sharing/gig economy...

    MARSH
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    https://Policy.report/news-article.aspx?ID=907907

    AXIS TAPS MARKEL VETERAN AS SENIOR CYBER UNDERWRITER

    Dec 14, 2018

    AXIS Insurance, the insurance business segment of AXIS Capital Holdings, has announced the hiring of Andrew Maher as a senior cyber underwriter. Maher will be based in London and will report to Dan Trueman, global head of cyber and technology at AXIS.

    AXIS INSURANCE
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    https://Policy.report/news-article.aspx?ID=915915

    ORLANDO HOMEOWNERS ALLEGE INSURER FAILED TO PAY FOR WATER DAMAGE

    Dec 14, 2018

    Orlando homeowners are suing an insurer, alleging breach of an insurance contract. Angel Rohena and Yonidy Pena filed a complaint Nov. 29 in Orange County Circuit Court against American Strategic Insurance Corp., alleging failure to pay for water damage.  According to the complaint, on July 18,...

    AMERICAN STRATEGIC INSURANCE CORP
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    https://Policy.report/news-article.aspx?ID=916916

    ORLANDO HOMEOWNERS ALLEGE INSURER FAILED TO PAY FOR WATER DAMAGE

    Dec 13, 2018

    Orlando homeowners are suing an insurer, alleging breach of an insurance contract. Angel Rohena and Yonidy Pena filed a complaint Nov. 29 in Orange County Circuit Court against American Strategic Insurance Corp., alleging failure to pay for water damage.  According to the complaint, on July 18,...

    AMERICAN STRATEGIC INSURANCE CORP
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    https://Policy.report/news-article.aspx?ID=917917

    PROGRESSIVE INSURANCE CUSTOMER ALLEGES IT FAILED TO HONOR OBLIGATIONS UNDER POLICY

    Dec 13, 2018

    A Missouri man alleges his insurer failed to honor its obligations under a policy regarding an auto accident. Kurtis Beyer filed a complaint on Dec. 4 in the St. Louis Circuit Court against Progressive Insurance Co., et al. alleging vexatious refusal. According to the complaint, the plaintiff allege...

    PROGRESSIVE INSURANCE CO
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    https://Policy.report/news-article.aspx?ID=918918

    NYC INVESTMENT FIRM ENTITLED TO INSURANCE PAYMENT ON $14.5M IN LEGAL COSTS, DEL. COURT SAYS

    Dec 13, 2018

    A Delaware Superior Court judge has ruled that AR Capital is entitled to insurance payments to cover legal costs stemming from multiple lawsuits and a regulatory investigation into a $23 million accounting error at real estate investment firm VEREIT Inc.

    VEREIT INC
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    https://Policy.report/news-article.aspx?ID=919919

    INSURED FLORIDIANS SHOULDN'T FOOT HUGE BILLS FOR EMERGENCY TRANSPORTATION, BOARD SAYS

    Dec 13, 2018

    Insured patients in Florida shouldn’t have to pay large bills if they require emergency medical transportation services. They also should have access to copies of their medical records free of charge, a state advisory board agreed Thursday. Members of the Florida Health Insurance Advisory Boar...

    FLORIDA HEALTH INSURANCE ADVISORY BOARD
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    https://Policy.report/news-article.aspx?ID=920920

    LEXMARK INTRODUCES SMART DOCUMENT PORTAL FOR INSURANCE SOLUTION

    Dec 13, 2018

    Lexmark, a global imaging solutions leader, today announced the availability of Smart Document Portal for Insurance, a solution that provides insurance teams immediate access to up-to-date materials needed for business activities that improve customer service and drive growth. The solution enables o...

    LEXMARK
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    https://Policy.report/news-article.aspx?ID=895895

    ANACAP SET TO EXIT FRENCH INSURANCE BROKER AOG

    Dec 13, 2018

    AnaCap first bought the business from Seventure Partners, Bpifrance and the company founders back in June 2014. OAG specializes in the online distribution and management of personal insurance products. Under AnaCap’s ownership, the company increased its revenue growth by 82 percent. OAG  ...

    ANACAP
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    https://Policy.report/news-article.aspx?ID=896896

    LIBERTY SPECIALTY MARKETS GRANTED LICENCE FOR BREXIT HUB

    Dec 13, 2018

    Liberty Mutual Insurance Europe SE (LMIE) is now licenced to operate from Luxembourg. LMIE is Liberty Specialty Markets’ (LSM) European company set up to ensure that LSM can continue conducting insurance and reinsurance business on the continent even after Britain’s departure from the Eu...

    LIBERTY MUTUAL INSURANCE
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    https://Policy.report/news-article.aspx?ID=900900

    LEGAL & GENERAL OFFLOADING ITS GENERAL INSURANCE UNIT

    Dec 13, 2018

    British financial services group Legal & General  which in February revealed it was collaborating with a US insurtechto develop an on-demand homeshare insurance product is now reportedly looking at selling its general insurance business. The unit offers home insurance, pet insurance, travel...

    LEGAL & GENERAL
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    https://Policy.report/news-article.aspx?ID=901901

    FEDERAL GOVERNMENT ANNOUNCES NEW LIABILITY REGULATIONS FOR MARINE PASSENGER VESSELS

    Dec 13, 2018

    The federal government has set new regulations that make passenger liability insurance mandatory among marine passenger vessels. Minister of Transport Marc Garneau has announced that under the new rules which make liability insurance mandatory under the Marine Liability Act Canadian passenger vessel...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=903903

    REPORT: MORE THAN 87K FLORIDIANS DROPPED BY HOME INSURERS LAST QUARTER

    Dec 13, 2018

    State records show home insurers have dropped the policies of more than 87,000 Floridians in the third quarter of this year. The Palm Beach Post reports that state records also show half of the state’s top 10 property insurers served fewer customers at the start of October than they did a year...

    PALM BEACH
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    https://Policy.report/news-article.aspx?ID=905905

    GREAT EASTERN TO BUY INDONESIAN INSURANCE FIRM FOR $38.5 MILLION

    Dec 12, 2018

    Great Eastern (GE) Holdings is acquiring PT QBE General Insurance Indonesia for US$28 million (S$38.5 million), it announced yesterday. The transaction is expected to be completed in the first half of next year, subject to approval by Indonesia's financial services authority and the Monetary Aut...

    GREAT EASTERN (GE) HOLDINGS
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    https://Policy.report/news-article.aspx?ID=902902

    THE CO-OPERATORS ADOPTS GUIDEWIRE CLAIMS SOLUTION

    Dec 12, 2018

    The Co-operators has selected one of Guidewire’s claims solutions to further enhance its claims processing capabilities. The insurer has implemented the Guidewire Predictive Analytics for Claims tool into the Guidewire ClaimCenter platform it uses, enabling predictive insights. By enabling the...

    GUIDEWIRE
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    https://Policy.report/news-article.aspx?ID=879879

    MARSH & MCLENNAN PURCHASES INDEPENDENT INSURANCE AGENCY IN MN

    Dec 12, 2018

    Marsh & McLennan Agency (MMA) has acquired the privately owned independent agency Otis-Magie Insurance in northern Minnesota. Terms of the transaction were not disclosed. Based in Duluth, Otis-Magie offers business insurance, employee benefits, and personal insurance products and services to cli...

    MARSH & MCLENNAN AGENCY
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    https://Policy.report/news-article.aspx?ID=884884

    HUB ACQUIRES PA-BASED MEDICAL MALPRACTICE INSURANCE AGENCY

    Dec 12, 2018

    Hub International has acquired all of the assets of Nolen Associates in Springfield Pennsylvania. Terms of the transaction were not disclosed. Nolen Associates is a full-service medical malpractice insurance agency that represents over 1,000 healthcare professionals throughout Pennsylvania, as well ...

    HUB INTERNATIONAL
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    https://Policy.report/news-article.aspx?ID=885885

    AXA XL NAMES NEW PRODUCT LEADERS FOR E&S CASUALTY INSURANCE BUSINESS

    Dec 12, 2018

    AXA XL has appointed two new product leads for its excess & surplus casualty business in the US. Ankur Chokshi was promoted to the position of E&S primary casualty head, as well as head of binding authority and brokerage insurance operation. AXA XL has also named Kimberly Smid as leader of t...

    AXA XL
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    https://Policy.report/news-article.aspx?ID=886886

    THE HILB GROUP ACQUIRES SC INSURANCE AGENCY

    Dec 12, 2018

    The Hilb Group (THG) has announced the acquisition of a South Carolina-based agency.THG has acquired Huckaby & Associates, which provides a full range of property and casualty insurance to businesses and individuals throughout South Carolina, North Carolina, and Georgia. Huckaby specializes in c...

    THE HILB GROUP
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    https://Policy.report/news-article.aspx?ID=887887

    ENSTAR, ALLIANZ, HILLHOUSE IN REINSURANCE JOINT VENTURE

    Dec 12, 2018

    It doesn’t look like three’s a crowd in a new joint venture involving Allianz, Hillhouse Capital Management, and Enstar Group Limited. The collaboration will see the three invest in Bermuda-based Class 4 and Class E reinsurer Enhanzed Reinsurance Ltd. Combined, the equity investment comm...

    ALLIANZ
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    https://Policy.report/news-article.aspx?ID=888888

    REVEALED: UNUSUAL INSURANCE CLAIMS FROM KIWI HOLIDAYMAKERS

    Dec 12, 2018

    Southern Cross Travel Insurance has released a list of unusual claims it has received in the past year, with cases involving an encounter with a bat and a monkey eating sunglasses. “After 35 years of operation you might think we’ve heard it all, but we’re still surprised by some of...

    SOUTHERN CROSS TRAVEL INSURANCE
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    https://Policy.report/news-article.aspx?ID=889889

    GREAT EASTERN TO ACQUIRE QBE’S INDONESIA GENERAL INSURANCE ARM

    Dec 12, 2018

    Great Eastern Holdings, through its wholly owned subsidiary Great Eastern General Insurance, has agreed to purchase 100% of PT QBE General Insurance Indonesia (QBE Indonesia). The deal, valued at around US$28 million, is expected to be completed in the first half of 2019, pending approval from Indon...

    GREAT EASTERN HOLDINGS
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    https://Policy.report/news-article.aspx?ID=890890

    HONG KONG’S INSURANCE AUTHORITY TO HELP FIRMS ACCESS BELT AND ROAD

    Dec 12, 2018

    Hong Kong’s Insurance Authority has launched a platform that will help domestic and foreign insurers gain access to China’s Belt and Road Initiative and provide insurance coverage for risks such as terrorism. The platform, known as the Belt and Road Insurance Exchange Facilitation (BRIEF...

    HONG KONG’S INSURANCE AUTHORITY
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    https://Policy.report/news-article.aspx?ID=891891

    HOW CYBERCRIME AND COVERAGE EVOLVED IN 2018

    Dec 12, 2018

    Cyber criminals were busy this year as they targeted public and private entities around the world, with the hacks of HSBC and Facebook most recently coming to light. As organizations rushed to patch the gaps in their security infrastructure and became more attuned to the risks that cyber incidents p...

    HSBC
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    https://Policy.report/news-article.aspx?ID=892892

    KAPLANSKY INSURANCE MAKES 31ST ACQUISITION

    Dec 11, 2018

    Kaplansky Insurance, one of the largest independent, locally owned insurance agencies in the Northeast, has announced that it has acquired Massachusetts-based Burak Insurance. “We are excited to add the Burak agency to our expanding network of local offices,” said Ely Kaplansky, presiden...

    KAPLANSKY INSURANCE
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    https://Policy.report/news-article.aspx?ID=866866

    HOME INSURANCE DISRUPTOR BUZZVAULT OPENS ITS DOORS

    Dec 11, 2018

    It was back in February when Insurance Business first reported on buzzvault, which at the time was slated to be rolled out in the third quarter. After moving its consumer launch a couple of times, the home insurance disruptor has now officially opened its doors. “Unlike any other home insuranc...

    BUZZVAULT
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    https://Policy.report/news-article.aspx?ID=868868

    SURVEY: 18% MULL CUTTING BACK ON INSURANCE IN 2019

    Dec 11, 2018

    Premium Credit, which lends over £3 billion yearly, has found that approximately more than two million policyholders are borrowing money from friends and family just to afford being covered. Conducted by Consumer Intelligence on behalf of the premium finance company, the study involved 1,037 c...

    PREMIUM CREDIT
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    https://Policy.report/news-article.aspx?ID=870870

    U.S. AUTO INSURERS SEE BEST UNDERWRITING RESULTS IN A DECADE, SAYS FITCH

    Dec 11, 2018

    Steady improvement for U.S. personal auto insurance companies has culminated in the sector’s best underwriting performance in 10 years, according to Fitch Ratings in a new report.

    FITCH
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    https://Policy.report/news-article.aspx?ID=871871

    NAVIGATING CONSTRUCTION DEFECT CLAIMS IN TODAY'S ECONOMY

    Dec 11, 2018

    The reconstruction following the aftermath of Hurricane Florence across the Carolinas will be vast, long-lasting and could bring immense rehabilitation opportunities to construction-focused industries such as contractors, subcontractors, and insurers.

    PROPERTYCASUALTY360
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    https://Policy.report/news-article.aspx?ID=872872

    $65 MILLION INSURANCE SALE TO FREEDOM INSURANCE SCRAPPED

    Dec 10, 2018

    The $65 million sale of Bank of Queensland (BOQ)’s insurance business to under-fire Freedom Insurance Group has been terminated. The decision to scrap the sale of BOQ’s St Andrew’s Insurance comes soon after Freedom warned of a potential liquidity shortfall in 2019, due to $4 milli...

    BANK OF QUEENSLAND
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    https://Policy.report/news-article.aspx?ID=858858

    PEAK RE LAUNCHES FIRST ASIAN REINSURANCE SIDECAR TRANSACTION

    Dec 10, 2018

    Peak Reinsurance Company Ltd (Peak Re) has launched Asia’s first sidecar transaction, through Lion Rock Re, a newly-formed special purpose insurer based in Bermuda. The transaction will enable Lion Rock Re to provide collateralized retrocession for part of Peak Re’s global property reins...

    PEAK REINSURANCE COMPANY LTD
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    https://Policy.report/news-article.aspx?ID=859859

    ASIAN INSURANCE SECTOR REPORTS SIGNIFICANT NOVEMBER GROWTH

    Dec 10, 2018

    November was a productive month for the Asian insurance industry, with a recent report indicating an expansion of output growth during the period. The Nikkei Asia Sector Purchasing Managers’ Index, compiled by IHS Markit, showed business activity in Asia’s insurance sector for the month ...

    IHS MARKIT
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    https://Policy.report/news-article.aspx?ID=860860

    COMMERCIAL LINES INSURANCE PRICES UP SLIGHTLY IN 3Q 2018 OVER 2017

    Dec 10, 2018

    Commercial insurance prices in the U.S. increased by more than two percent in the third quarter of 2018, according to the Willis Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies written during the third quarter of 2018 to those charged f...

    CLIPS
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    https://Policy.report/news-article.aspx?ID=861861

    FIRMS INCREASING INVESTMENTS IN MICHIGAN INSURANCE BROKERAGE, ACRISURE

    Dec 10, 2018

    Three firms are increasing their investments in Acrisure LLC, the Caledonia, Michigan-based insurance brokerage announced. Acrisure said a group of investors led by funds managed by Blackstone’s GSO Capital Partners and Tactical Opportunities businesses (Blackstone), have significantly increas...

    BLACKSTONE
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    https://Policy.report/news-article.aspx?ID=862862

    BETTER HEALTH INSURANCE ADVICE PARTNERS WITH TOP PROVIDERS

    Dec 07, 2018

    According to the 14th edition of LaingBuisson’s Health Cover UK Market Report, Aviva, AXA, Bupa, and Vitality together represent over 90% of the UK health insurance market… now new broker Better Health Insurance Advice has partnered with all four. “We’re pleased to announce ...

    AXA
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    https://Policy.report/news-article.aspx?ID=844844

    GLOBAL INSURERS CALLED TO DITCH A US$1.5BN “CLIMATE-WRECKING PROJECT”

    Dec 07, 2018

    Suncorp, QBE, and 28 other global insurers have been called to publicly rule out any insurance services for Adani Group’s Carmichael coal mine and associated rail project in Queensland in light of its potential climate, social, and broader environmental impacts. A coalition of 73 organizations...

    ADANI GROUP
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    https://Policy.report/news-article.aspx?ID=848848

    INSURANCE INDUSTRY FACING TIME OF GREAT CHANGE AGAIN

    Dec 07, 2018

    Australia’s insurance space may be going through a period of major change but, according to one senior figure, it’s not the first time the sector has been forced through a revolution. Angus Kench, the immediate past president and current board member of the Australian Insurance Law Assoc...

    AUSTRALIAN INSURANCE LAW ASSOCIATION
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    https://Policy.report/news-article.aspx?ID=849849

    HONG KONG BEGINS HUGE CLAMPDOWN ON INSURANCE FRAUD

    Dec 07, 2018

    In a bid to reduce cases of insurance fraud, the Hong Kong Federation of Insurers (HKFI) recently launched an insurance fraud detection database to protect both insurers and policyholders. The Insurance Fraud Prevention Claims Database (IFPCD) will utilize state-of-the-art artificial intelligence (A...

    HONG KONG FEDERATION OF INSURERS
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    https://Policy.report/news-article.aspx?ID=850850

    OUTLOOK FOR GLOBAL REINSURANCE MARKET CHANGED TO STABLE

    Dec 07, 2018

    Global reinsurers continue to benefit from a stabilising pricing environment, with ratings agency AM Best changing its outlook rating for the life and non-life reinsurance segments to stable from negative in its latest market segment report. With the new rating, AM Best expects market trends to have...

    AM BEST
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    https://Policy.report/news-article.aspx?ID=851851

    PRIVATE HEALTH INSURANCE STILL BOOMING IN SOUTH KOREA

    Dec 07, 2018

    South Koreans may benefit from a national health plan, but most still opt to purchase private health insurance. According to The Korea Bizwire, new data revealed that eight out of 10 Koreans still feel compelled to buy private health insurance policies, despite mandatory enrolment in the country&rsq...

    KOREA’S NATIONAL HEALTH INSURANCE SERVICE
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    https://Policy.report/news-article.aspx?ID=852852

    SGI SAYS THIS MOTORIST’S SURNAME IS TOO RUDE FOR A LICENSE PLATE

    Dec 07, 2018

    Saskatchewan Government Insurance (SGI) has turned down a local man’s request to have his last name on a personalized licence plate, because his name “Assman” was an “unacceptable slogan.Melville, Saskatchewan native Dave Assman is proud of his family name, but was dismayed w...

    SASKATCHEWAN GOVERNMENT INSURANCE
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    https://Policy.report/news-article.aspx?ID=11841184

    TOWNSVILLE FLOOD DAMAGE BILL TOTAL REVEALED

    Dec 07, 2018

    The catastrophic floods that have inundated roughly 82,000 homes in Townsville over the past week have so far resulted in 6,525 claims, worth $80 million, according to the Insurance Council of Australia (ICA). The damage bill is expected to soar over the next few days as policyholders return to thei...

    INSURANCE COUNCIL OF AUSTRALIA
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    https://Policy.report/news-article.aspx?ID=11851185

    LEGAL EXPENSE INSURANCE LETS FAMILIES STAND UP FOR THEIR RIGHTS

    Dec 06, 2018

    When a family runs into a legal issue, the fear of racking up high bills for lawyers can keep some from seeking out legal advice and, in the end, often leaves them with even bigger financial burdens. It doesn’t help that Pro Bono Ontario, which offers services that assist people with everythin...

    ARAG CANADA
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    https://Policy.report/news-article.aspx?ID=838838

    COVERWALLET LAUNCHES PLATFORM FOR COMMERCIAL AGENTS

    Dec 06, 2018

    Insurtech company CoverWallet has announced the launch of CoverWallet for Agents, a dedicated platform for insurance agents. The platform gives agents a fast, simple and efficient way to provide commercial insurance to businesses, with a single point of entry to access carriers for multiple types of...

    COVERWALLET
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    https://Policy.report/news-article.aspx?ID=839839

    MARINE INSURANCE PRICING WILL GET WORSE BEFORE IT GETS BETTER, SAYS GALLAGHER EXPERT

    Dec 06, 2018

    Specialist advice from experienced marine insurance brokers is more important ever as the marine insurance market becomes more challenging, according to a Gallagher expert. In its latest market overview report, the brokerage noted that the combination of worst natural disaster losses in the history ...

    GALLAGHER
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    https://Policy.report/news-article.aspx?ID=841841

    FREEDOM INSURANCE ISSUES LIQUIDITY WARNING

    Dec 06, 2018

    Freedom Insurance has warned of a potential liquidity shortfall in calendar year 2019, following a strategic review, and advised that it was under ASIC investigation for past misconduct revealed at the Hayne royal commission. A strategic review of the NSW-based insurer’s business structure and...

    FREEDOM INSURANCE
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    https://Policy.report/news-article.aspx?ID=842842

    HURRICANE MICHAEL CLAIMS TOP $4 BILLION

    Dec 05, 2018

    Hurricane Michael is estimated to have caused more than $4 billion in insured losses, officials have revealed. Florida’s Office of Insurance Regulation (OIR) made the projection, based on the thousands of claims filed related to the hurricane event. As of Friday, 129,876 claims had been filed,...

    HURRICANE MICHAEL
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    https://Policy.report/news-article.aspx?ID=830830

    HARTFORD POSITIONS ITSELF AS INSURTECH HUB

    Dec 05, 2018

    The city of Hartford, CT is shaping up to be America’s center for all things insurtech, with recent developments elevating the city’s status as an insurance technology hub. Hartford is home to the Hartford InsurTech Hub, which insurance technology start-ups from all around the world are ...

    HARTFORD INSURTECH HUB
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    https://Policy.report/news-article.aspx?ID=831831

    CHICAGO DOCTOR CONVICTED IN $3.5 MILLION INSURANCE FRAUD

    Dec 05, 2018

    A Chicago doctor has been convicted of healthcare fraud for billing insurance companies $3.5 million for operations he never performed. Dr. Paul Madison, 65, was found guilty of six counts of healthcare fraud, three counts of lying about the delivery of medical treatment and two counts of aggravated...

    NBC
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    https://Policy.report/news-article.aspx?ID=832832

    AVIVA CANADA REVEALS ONTARIO’S VERDICT ON FRAUDULENT CLAIMS

    Dec 05, 2018

    Aviva’s latest report reveals that Ontarians who pay some of the highest auto insurance rates in Canada are more than aware of the insurance fraud issue that is causing their premiums to increase. The second annual Aviva Fraud Report found that over 50% of Ontarians believe that 25% of all aut...

    AVIVA
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    https://Policy.report/news-article.aspx?ID=833833

    COWAN UNVEILS MID-MARKET SUPPLY CHAIN INSURANCE PRODUCT

    Dec 04, 2018

    Cowan Insurance Group has launched a new product to help cover the supply chain insurance gap of mid-market manufacturers and distributors. Marketed as the first insurance of its kind in Canada, the Cowan supply chain insurance product was designed with mid-market manufacturing, technology, wholesal...

    COWAN INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=821821

    EX SINGAPORE INSURANCE AGENT JAILED FOR CHEATING AND FORGERY

    Dec 04, 2018

    A former insurance agent in Singapore was sentenced to seven months in prison after embezzling almost SG$30,000 from a client. Robin Sim Kia Wee, 41, pleaded guilty to three charges of cheating and one count of forgery, Today reported. He had defrauded Tay Eng Chuan, 59, of SG$28,845 which was suppo...

    AIG
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    https://Policy.report/news-article.aspx?ID=822822

    PHILIPPINES SCRAPS PROPOSED TAX ON HEALTH COVER PREMIUMS

    Dec 04, 2018

    Employees in the Philippines will no longer have to pay tax on their group health insurance premiums after the country’s tax authority recalled its earlier order following criticism from several sectors. A previous circular from the Bureau of Internal Revenue (BIR) stated that the premiums on ...

    BUREAU OF INTERNAL REVENUE
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    https://Policy.report/news-article.aspx?ID=823823

    JAPANESE INSURERS TURN PROFIT AMID CAT LOSSES

    Dec 04, 2018

    The three largest property and casualty (P&C) insurers in Japan are poised to have a profitable year despite huge losses inflicted by catastrophes striking the East Asian country. The P&C insurance businesses of Tokio Marine Holdings, MS&AD Insurance Group, and Sompo Holdings have been p...

    TOKIO MARINE HOLDINGS
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    https://Policy.report/news-article.aspx?ID=824824

    NEW INSURANCE PLAN COVERS CYBER BULLYING

    Dec 03, 2018

    A Massachusetts-based insurance company has announced the launch of a cyber insurance product that covers cyber bullying. About half of young people nationwide have experienced cyber bullying, and about 10% to 20% experience it regularly, according to the Cyberbullying Research Center. The Arbella I...

    ARBELLA INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=813813

    CYBER INSURANCE HIT WITH BARRAGE OF CRITICISM AS DISPUTES MOUNT

    Dec 03, 2018

    The November 2018 Cyber Risk & Insurance Report by insurance governance expert Mactavish has shone a spotlight on common cyber cover limitations, and now a Financial Times report is pointing to a rise in disputes between policyholders and providers. The newspaper cited a particular case involvin...

    FINANCIAL TIMES
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    https://Policy.report/news-article.aspx?ID=814814

    PIB GROUP REVEALS INSURANCE BROKER MERGER

    Dec 03, 2018

    PIB Group has combined two of its brokerage businesses PIB Insurance Brokers and Lorica Insurance Brokers into one entity in order to give clients access to a wider breadth of products and services. PIB Insurance Brokers is the original PIB Group company. Its specialisms include professional indemni...

    PIB GROUP
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    https://Policy.report/news-article.aspx?ID=815815

    SPECIALIST RISK INVESTMENTS MAKES DOUBLE INTERMEDIARY SWOOP

    Dec 03, 2018

    Miles Smith Insurance Group, which was snapped up by London-based private equity and credit manager Pollen Street Capital in February, is about to be merged with two new acquisitions. Subject to regulatory approval, Pollen Street’s investment company Specialist Risk Investments Limited (SRIL) ...

    MILES SMITH INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=816816

    DUCK CREEK: SAAS THE ANSWER TO INSURANCE'S LEGACY SYSTEMS SHACKLE

    Nov 29, 2018

    Insurance firms around the world are united by the notion that it’s time to upgrade legacy systems and embrace innovation. The idea is for incumbent insurers to adopt and adapt the nimbler, customer-centric processes of the fast-emerging insurtechs but moving beyond legacy is often quite ...

    DUCK CREEK TECHNOLOGIES
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    https://Policy.report/news-article.aspx?ID=805805

    AON PARTNERS WITH SIX MAJOR CANADIAN INSURANCE PROVIDERS OVER GROUP BENEFITS

    Nov 29, 2018

    Aon has secured partnerships with six of Canada’s largest national insurance providers to allow the companies to distribute their group benefits products through the Aon Choice platform. The six insurers Aon has partnered with are Sun Life, Manulife, Great-West Life, Desjardins Insurance, SSQ,...

    AON
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    https://Policy.report/news-article.aspx?ID=806806

    FLORIDA PRINCIPAL ARRESTED IN $16K HURRICANE IRMA INSURANCE FRAUD ATTEMPT

    Nov 29, 2018

    An elementary school principal in Jacksonville, Fla., has been arrested in an alleged attempt to commit more than $16,000 in insurance fraud related to Hurricane Irma, according to a statement from Florida CFO Jimmy Patronis, who leads the state’s Department of Financial Services. Darrell Perr...

    FLORIDA DEPARTMENT OF FINANCIAL SERVICES
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    https://Policy.report/news-article.aspx?ID=807807

    FITCH WARNS OF NEGATIVE CREDIT EFFECTS ON REINSURANCE FROM CALIFORNIA WILDFIRES

    Nov 28, 2018

    The “downside credit risks” from the California wildfires are the most pronounced for investor-owned utilities, which could face large liabilities if IOU equipment is found to have ignited the fires. And negative credit implications could emerge for the reinsurance industry and the U.S. ...

    FITCH RATINGS
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    https://Policy.report/news-article.aspx?ID=808808

    ZURICH INSURANCE AND SNAPSHEET ANNOUNCE STRATEGIC PARTNERSHIP

    Nov 28, 2018

    Zurich Insurance has formed a new strategic agreement with Snapsheet, a provider of virtual claims technology. The collaboration will see Zurich deploy Snapsheet’s digital services platform in multiple countries - the partnership also marks a global expansion for Snapsheet, a release noted. Sn...

    ZURICH INSURANCE
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    https://Policy.report/news-article.aspx?ID=798798

    FCA CANCELS LIQUIDATED INSURANCE BROKER’S PERMISSIONS

    Nov 28, 2018

    An insurance broker has seen its permissions cancelled after allegedly failing to abide by a Financial Ombudsman Service (FOS) ruling. The broker in question, Larksway Investments, has been told by the Financial Conduct Authority (FCA) that it must compensate a landlord after selling her a professio...

    FINANCIAL CONDUCT AUTHORITY
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    https://Policy.report/news-article.aspx?ID=799799

    CHARTERED INSURER TO LEAVE ALLIANZ FOR ZURICH

    Nov 28, 2018

    David Martin, who has been with Allianz since 2001, is moving to Zurich in the first half of 2019. Subject to regulatory approval, the appointment will see the chartered insurer take charge at the firm’s retail and SME business amid ambitious growth plans. Martin began his insurance career in ...

    ALLIANZ
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    https://Policy.report/news-article.aspx?ID=800800

    AUTONOMOUS CAR TESTING TO HIT LONDON ROADS

    Nov 27, 2018

    Following successful ongoing trials in Oxford, the DRIVEN consortium will now be commencing autonomous vehicle testing on London roads. The goal is to run a fleet of autonomous vehicles between the two locations in 2019. Led by autonomous vehicle software provider Oxbotica, the research project has ...

    AXA
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    https://Policy.report/news-article.aspx?ID=788788

    ALLIANZ PARTNERS UK UNVEILS INSURANCE TIE-UP

    Nov 27, 2018

    Allianz Partners UK has teamed up with Affinity Insurance Solutions for the benefit of smaller travel businesses and their customers. Through the deal, the likes of coach companies and independent tour operators will have access to Allianz Partners UK’s underwriting and claims handling service...

    ALLIANZ
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    https://Policy.report/news-article.aspx?ID=789789

    QBE EXPANDS PRODUCT DISTRIBUTION WITH OPEN GI DEAL

    Nov 27, 2018

    QBE and Open GI have deepened ties with a new partnership. The business insurance specialist which already offers its Mini Fleet and Tradesman products on Powerplace SME and Powerplace Micro, respectively has launched QBE Office, which will be available across all Open GI broker platforms including ...

    QBE
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    https://Policy.report/news-article.aspx?ID=791791

    IOT HELPS INSUREDS WINTERIZE THEIR HOMES

    Nov 27, 2018

    When the weather takes a turn for the worse, there’s nothing better than escaping the 20F icy misery and hopping on a plane for some winter sunshine. But while homeowners soak up the sun on vacation, their valuable assets are sat shivering at home. The advent of smart home technology has provi...

    PURE INSURANCE
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    https://Policy.report/news-article.aspx?ID=792792

    CREDIT INSURANCE TROUBLE HITS MONSOON ACCESSORIZE

    Nov 26, 2018

    Monsoon Accessorize is the latest UK-headquartered retailer to be hit by trade credit insurance trouble, a report by The Sunday Times has revealed. It was noted that credit insurer Euler Hermes has cut coverage to Monsoon Accessorize’s suppliers, meaning the global clothing chain could face gr...

    MONSOON ACCESSORIZE
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    https://Policy.report/news-article.aspx?ID=781781

    BT TAPS INSURANCE VETERAN FOR PENSION SCHEME

    Nov 26, 2018

    Industry veteran Otto Thoresen, whose more than 35 years of experience includes time spent as director general of the Association of British Insurers, now has another role to add to his list of credentials. Effective February 15 next year, Thoresen will serve as chair and trustee director of the BT ...

    ASSOCIATION OF BRITISH INSURERS
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    https://Policy.report/news-article.aspx?ID=782782

    BANKSY ARTWORKS SEIZED IN INSURANCE TUSSLE

    Nov 26, 2018

    Imagine putting on display €15 million worth of artworks without the security of insurance. That’s the issue surrounding the “Banksy Unauthorised” exhibition in Belgium, which has led to the works being seized following a court ruling. The display, set up by gallery Stroker In...

    GUARDIAN
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    https://Policy.report/news-article.aspx?ID=783783

    GUY CARPENTER TARGETS GRAY AREA IN REINSURANCE MARKET

    Nov 26, 2018

    Insurers are increasingly looking for innovative ways to manage to underwrite, buy risk protection and shore up capital. As market pressures evolve, they’re requesting risk transfer solutions that go beyond traditional forms of facultative or treaty reinsurance into the realm of hybrid solutio...

    GUY CARPENTER
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    https://Policy.report/news-article.aspx?ID=784784

    INDUSTRY STALWART RETIRES AS HISCOX NAMES NEW GROUP CLAIMS DIRECTOR

    Nov 23, 2018

    Hiscox has named a new claims director, ahead of Jeremy Pinchin’s retirement at the end of February 2019. Grace Hanson, who qualified as a US lawyer in 1987 and reached partnership in private practice before moving into insurance in 2001, is joining Hiscox in January. She brings experience fro...

    HISCOX
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    https://Policy.report/news-article.aspx?ID=773773

    HUMANIA LAUNCHES NEW CUSTOMER-FOCUSED INSURTECH

    Nov 23, 2018

    Humania Assurance has launched a new internal start-up that leverages insurance technologies to “improve customer loyalty.” Called “Lead2action.ca,” the start-up is fully owned by Humania Assurance and is registered at the Autorité des marchés financiers. It was...

    HUMANIA ASSURANCE
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    https://Policy.report/news-article.aspx?ID=775775

    ALLIANZ GLOBAL ASSISTANCE RELEASES BROKER TOOL TO CLEAR THE HAZE AROUND TRAVEL INSURANCE

    Nov 22, 2018

    A traveller’s checklist before going on a bucket-list trip of a lifetime might look something like this: clothes, money, plane tickets, sun cream, selfie stick … insurance. Travel insurance is simply not a top of mind issue for travellers today. They’re much more concerned with th...

    ALLIANZ GLOBAL
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    https://Policy.report/news-article.aspx?ID=776776

    BLACK FRIDAY MARKS THE START OF AUTO CLAIMS SEASON

    Nov 22, 2018

    Black Friday may signal the start of the holiday shopping season, but insurers also see it as the start of the auto claims season. Data from Co-op insurance shows that auto claims actually increase by more than a fifth during Black Friday, which falls on November 23 (tomorrow) this year. Black Frida...

    CO-OP INSURANCE
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    https://Policy.report/news-article.aspx?ID=765765

    INSURANCE COMPANIES ACCUSED OF "HIJACKING" LEGAL SYSTEM

    Nov 22, 2018

    The legal wrangling is nothing new for the insurance industry but to be accused of “hijacking the legal system” is something altogether different. That, however, was the conclusion reached by a new report released today suggesting that disputes between businesses and insurers typically t...

    MACTAVISH
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    https://Policy.report/news-article.aspx?ID=766766

    DFT REVEALS NEW CYCLING SCHEME AIMED AT SLASHING CAR INSURANCE

    Nov 22, 2018

    Motorists may have an opportunity to lower their insurance premiums if a new Department for Transport proposal is passed. Transport Minister Jesse Norman recently unveiled a plan that would look into the possibility of insurers giving discounts for motorists who take and pass a national cycling trai...

    THE GUARDIAN
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    https://Policy.report/news-article.aspx?ID=767767

    INSURANCE INDUSTRY ANSWERS CALL TO SERVICE

    Nov 22, 2018

    Aristotle said that to serve others is the essence of life. This holiday season, the insurance industry has certainly done its part. Proving that time is just as important as money, its successful effort to raise funds for dementia research was accompanied by its donation of a total of 500 volunteer...

    ARISTOTLE
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    https://Policy.report/news-article.aspx?ID=768768

    INSURER’S SHARES RECOVER AS WALGREENS EQUITY STAKE TALKS RUMORED

    Nov 21, 2018

    Drugstore chain Walgreens Boots Alliance Inc. and insurer Humana Inc. are in early talks about taking equity stakes in each other, the Wall Street Journal reported. , Shares of the companies pared earlier losses after the report late Tuesday. Humana finished the day down 1%, after earlier falling as...

    WALL STREET JOURNAL
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    https://Policy.report/news-article.aspx?ID=757757

    INSURERS’ EXPOSURE TO PG&E WILDFIRE LIABILITY APPEARS LIMITED: BEST

    Nov 21, 2018

    The property/casualty insurance sector has limited exposure to the debt of troubled California utility PG&E Corp., according to a briefing released Wednesday by A.M. Best Co. Inc. Approximately 10% of insurers have exposure to PG&E bonds by a number of entities, Best reported. The property/c...

    A.M. BEST CO. INC
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    https://Policy.report/news-article.aspx?ID=758758

    US INSURANCE PRICING SEES MODEST DECLINE: MARSH

    Nov 21, 2018

    Average insurance pricing in the United States decreased by nearly half a percentage point in during this year’s third quarter, reversing a trend toward flat pricing, said Marsh LLC in a report issued Wednesday. Average property rates increased 3.1%, which was the fourth consecutive quarter of...

    MARSH LLC
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    https://Policy.report/news-article.aspx?ID=759759

    WELLS FARGO FIGHTS TO LEAVE CUSTOMERS OUT OF AUTO PAYOUT PLAN

    Nov 21, 2018

    Wells Fargo & Co. is fighting to shut some customers out of a sweeping plan to compensate around 600,000 drivers it pushed into car insurance they did not need, according to court documents and a source familiar with the effort. U.S. regulators fined Wells Fargo $1 billion in April over the insu...

    WELLS FARGO & CO
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    https://Policy.report/news-article.aspx?ID=760760

    LIBERTY MUTUAL REVAMPS EXCESS CASUALTY BUSINESS, DOUBLES CAPACITY

    Nov 20, 2018

    Liberty Mutual Insurance Co. is realigning its excess casualty operations and increasing its capacity for the business to $100 million effective Jan. 1, 2019, the insurer announced Tuesday. Starting next year, all admitted excess casualty business for retail policyholders will be underwritten by Lib...

    LIBERTY MUTUAL INSURANCE CO
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    https://Policy.report/news-article.aspx?ID=753753

    ALERA GROUP BUYS CALIFORNIA BROKERAGE

    Nov 20, 2018

    Alera Group Inc. on Tuesday said it has acquired Orion Risk Management Insurance Services Inc., a Newport Beach, California-based brokerage. Terms of the transactions were not disclosed. Orion was founded in 2001 and has three locations in Southern California, Alera said in a statement. The senior l...

    ALERA GROUP INC
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    https://Policy.report/news-article.aspx?ID=754754

    LATEST ESTIMATES OF INSURED LOSSES FROM CALIFORNIA WILDFIRES AT $9B TO $13B

    Nov 19, 2018

    Insured losses from the Camp and Woolsey wildfires in California will be between $9 billion and $13 billion, according to the latest estimates from catastrophe modeler RMS. RMS’ latest estimates released on Monday show $7.5 billion to $10 billion for the Camp Fire and $1.5 billion to $3 billio...

    CALFIRE
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    https://Policy.report/news-article.aspx?ID=774774

    CLINIC OWNER, DOCTOR, LAWYER CHARGED IN $1 MILLION INSURANCE SCAM

    Nov 19, 2018

    A clinic owner, a doctor and an attorney are among those charged in connection with a $1 million insurance scam, New York Attorney General Barbara D. Underwood has announced. David Safir, 48; Dr. Alexander Haselkorn, 78; Roberta Haselkorn, 61; attorney Nadezdha Ursula, 63; and Theron Grinage, a.k.a....

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=749749

    INSURANCE FIRMS RAISE HUGE TOTAL IN DEMENTIA FIGHT

    Nov 19, 2018

    The battle against dementia has received a huge boost from the insurance industry. More than 35 firms united to raise in excess of £50,000 towards research as part of the first Insurance Day of Giving last week. Whether it was through bake sales, dress down days, lunch events or raffles, firms...

    PIB INSURANCE
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    https://Policy.report/news-article.aspx?ID=750750

    HOW VISIONARY INSURANCE MARKETING BOOSTED GENESEE GENERAL GROWTH

    Nov 16, 2018

    Growth in the insurance marketplace requires “marketing, marketing, marketing”. Gone are the days when insurance marketing meant handing out a product brochure and waiting for a call. Marketing in the digital era is all about “digging deeper” and projecting an online presence...

    GENESEE GENERAL
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    https://Policy.report/news-article.aspx?ID=744744

    GROUP1001 TO ACQUIRE PA-BASED LACKAWANNA INSURANCE GROUP

    Nov 16, 2018

    Insurance holding company Group1001 is set to acquire Lackawanna Insurance Group in Pennsylvania.  The transaction will close by the end of March 2019. Terms of the agreement were not disclosed. Lackawanna Insurance Group is composed of Lackawanna Casualty Company and its wholly-owned subsidiar...

    GROUP1001
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    https://Policy.report/news-article.aspx?ID=746746

    CALIFORNIA MAN CHARGED WITH INSURANCE FRAUD IN CHILDREN'S DEATH

    Nov 15, 2018

    A California man has been ordered to remain in jail pending trial on federal charges that he killed two severely autistic children in order to collect the proceeds of accidental death insurance policies. Ali F. Elmezayen, 44, was arrested November 07 by the FBI after being charged with defrauding in...

    NBC
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    https://Policy.report/news-article.aspx?ID=741741

    AIG AND CARLYLE GROUP CREATE REBRANDED REINSURER FORTITUDE RE

    Nov 15, 2018

    American International Group and The Carlyle Group have announced that Carlyle has completed its acquisition of a 19.9% stake in Fortitude Group Holdings, whose companies operate as Fortitude Re. The acquisition was announced in August and completed after receiving the necessary regulatory approvals...

    AMERICAN INTERNATIONAL GROUP
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    https://Policy.report/news-article.aspx?ID=742742

    CONSUMER INSTITUTE CALLS FOR MORE PRIVATE INSURANCE IN FLOOD

    Nov 14, 2018

    With the National Flood Insurance Program (NFIP) on the brink of insolvency, a consumer advocate is proposing a solution that could potentially relieve the program of its financial woes while expanding the flood insurance options available in the market. In a special piece in The Hill, American Cons...

    NATIONAL FLOOD INSURANCE PROGRAM
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    https://Policy.report/news-article.aspx?ID=737737

    VIAA AGENCY APPOINTS NEW MEDICARE SPECIALIST

    Nov 14, 2018

    Town and Country Insurance Agency, a Missouri-based member of Valley Insurance Agency Alliance (VIAA), has announced the appointment of Angie Delle (pictured) as a Medicare specialist and producer. In this role, Delle will focus on products and services that help seniors to understand the many facet...

    TOWN AND COUNTRY INSURANCE AGENCY
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    https://Policy.report/news-article.aspx?ID=738738

    ENSTAR AND MAIDEN SECURE $2.7 BILLION LOSS PORTFOLIO TRANSFER DEAL

    Nov 13, 2018

    Enstar Group Limited has agreed to another transaction with Maiden Holdings. Subject to regulatory approvals, the new deal will see an Enstar subsidiary in a retrocession agreement with Maiden Reinsurance wherein loss reserves of approximately US$2.7 billion associated with Maiden Re’s quota s...

    ENSTAR GROUP LIMITED
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    https://Policy.report/news-article.aspx?ID=733733

    J.D. POWER: INSURERS SCORE HIGH MARKS FOR HURRICANE FLORENCE AND MICHAEL RESPONSE

    Nov 13, 2018

    A new J.D. Power survey found that following Hurricanes Florence and Michael, many consumers said that their insurers met or even exceeded their expectations when it came to handling hurricane-related claims. The survey, conducted from October 19, 2018, to November 02, 2018, had more than 650 respon...

    J.D. POWER
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    https://Policy.report/news-article.aspx?ID=734734

    ALLIANZ SEES OVER 20% RISE IN THIRD QUARTER OPERATING PROFIT

    Nov 09, 2018

    Thanks largely to its property-casualty business, major insurer Allianz enjoyed a 20.6% rise in operating profit in the third quarter of 2018. From €2.5 billion in the same period last year, the group’s operating profit climbed to €3 billion, with the Germany-headquartered firm citin...

    ALLIANZ
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    https://Policy.report/news-article.aspx?ID=729729

    INSURANCE INDUSTRY REACTS TO MIDTERM ELECTION RESULTS

    Nov 09, 2018

    A takeover in the House of Representatives by Democrats wasn’t the dramatic change in Congress leadership that some expected following the midterm elections in the US, particularly as Republicans held on to the Senate. At the same time, the elections results won’t signal dramatic shifts ...

    PROPERTY CASUALTY INSURERS ASSOCIATION OF AMERICA
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    https://Policy.report/news-article.aspx?ID=730730

    PITCHER, PART OF WORLD SERIES WINNING YEAR, GETS FOUR YEARS FOR INSURANCE FRAUD

    Nov 02, 2018

    A pitcher whose team won the 2003 World Series may have thrown his last ball for a while, as he faces a four-year prison sentence for insurance fraud charges. Florida Marlins pitcher Justin Wayne and his brother Hawkeye Wayne were also ordered to pay a $3.8 million reimbursement after pleading guilt...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=725725

    LADENBURG'S HIGHLAND CAPITAL BROKERAGE ACQUIRES N.J. INASURANCE COMPANY

    Nov 02, 2018

    Ladenburg Thalmann Financial Services has announced that its subsidiary, Highland Capital Brokerage, has acquired certain assets of Four Seasons Financial Group (FSFG), an independent insurance and annuity distribution company based in New Jersey.

    LADENBURG
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    https://Policy.report/news-article.aspx?ID=726726

    AJ GALLAGHER ACQUIRES PENNSYLVANIA-BASED INSURANCE AGENCY

    Nov 01, 2018

    Arthur J. Gallagher & Co. has started November with a bang, announcing its acquisition of Pennsylvania-based The Walsh Agency, which does business as BEAM Insurance, only one week after the company snapped up a benefits provider. Terms of the transaction were not disclosed. BEAM was founded in 1...

    GALLAGHER
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    https://Policy.report/news-article.aspx?ID=717717

    SPECIALIST INSURANCE AGENT CHARGED OVER FRAUD

    Nov 01, 2018

    An insurance agent in Middletown, RI specializing in equine coverage has been accused of defrauding $1.3 million from both personal clients and companies. Randall N. Levesque, 57, is facing a federal criminal complaint of wire fraud and aggravated identity theft. According to the Rhode Island’...

    EQUINE INSURANCE SERVICES
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    https://Policy.report/news-article.aspx?ID=721721

    CHUBB ANNOUNCES EXPANDED COVERAGE FOR PRIVATE EQUITY FIRMS

    Nov 01, 2018

    Chubb has announced that it will now provide expanded insurance coverage through its Private Equity+ offering to address the risks faced by private equity firms. The extended offerings are designed to help private equity firms transfer and mitigate many of their most significant liabilities by combi...

    CHUBB
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    https://Policy.report/news-article.aspx?ID=722722

    AXA XL ACCELERATE HEAD: WHY IT’S NO LONGER "THEM VERSUS US"

    Oct 31, 2018

    Collaboration seems to have taken over from disruption as the new buzzword to describe the relationship between insurtechs and insurance companies. Out of the 140 insurance and insurtech executives from around the world that were polled by Capgemini and Efma in the World Insurtech Report, most respo...

    AXA XL
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    https://Policy.report/news-article.aspx?ID=715715

    PRIVATE EQUITY: APOLLO’S LUCRATIVE BUT CONTROVERSIAL BET ON INSURANCE

    Oct 31, 2018

    Marlene Albert had $110,000 in her investment account when she left her job at AT&T a decade ago. But what she needed instead, she told her broker, was a monthly cheque for the rest of her life. “He didn’t charge [for advice], because my mother would bake him fudge,” recalls he...

    AT&T
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    https://Policy.report/news-article.aspx?ID=716716

    WELLS FARGO WON’T REPAY ALL INSURANCE CUSTOMERS UNTIL 2020

    Oct 30, 2018

    Wells Fargo won’t finish paying back money it owes to more than half a million customers until at least 2020. The bank owes money to an estimated 600,000 customers it wrongly charged for auto insurance they didn’t need. In April, the bank received a $1 billion penalty from US regulators ...

    WELLS FARGO
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    https://Policy.report/news-article.aspx?ID=711711

    NC WOMAN FACES PRISON FOR FAKING CANCER IN INSURANCE SCAM

    Oct 30, 2018

    A North Carolina woman is headed to prison for filing nearly 300 insurance claims that fraudulently maintained she had cancer. Susan Leigh Huebotter, 60, was sentenced to 44-65 months in prison after pleading guilty to false pretense charges, according to the North Carolina Department of Insurance. ...

    NORTH CAROLINA DEPARTMENT OF INSURANCE
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    https://Policy.report/news-article.aspx?ID=712712

    N.J. BROKER HEADED TO PRISON FOR STEALING $1 MILLION IN PREMIUMS

    Oct 29, 2018

    A New Jersey insurance broker who admitted to stealing nearly $1 million in health insurance premiums has been sentenced to 18 months in prison. David Clark, 75, pleaded guilty to conspiracy to commit wire fraud. Clark was the owner of Real Benefits Association (RBA), a company he established as a p...

    REAL BENEFITS ASSOCIATION
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    https://Policy.report/news-article.aspx?ID=707707

    STATE INSURANCE COMMISSIONERS PLAN TOUGHER ANNUITY SALES RULES

    Oct 29, 2018

    The National Association of Insurance Commissioners (NAIC) has produced the latest draft of its annuity transactions suitability model regulation a rule that will hopefully enhance the standard of care for sales of the products. According to NAIC working group chairman and Idaho Department of Insura...

    NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS
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    https://Policy.report/news-article.aspx?ID=708708

    INSURTECH PIE’S FOUNDER TALKS ABOUT ENTRY INTO CALIFORNIA WORKERS’ COMP MARKET

    Oct 25, 2018

    Pie Insurance seems to be slicing its way through workers’ compensation markets in state after state. The Washington, D.C.-based insurance is a direct provider of workers’ comp that touts its ability to leverage “data analytics, easy-to-use online features, and a seasoned team of i...

    PIE INSURANCE
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    https://Policy.report/news-article.aspx?ID=703703

    INSURANCE SECTOR MERGERS SURGE

    Oct 25, 2018

    The value of merger and acquisition activity in the U.S. insurance sector surged to $8.1 billion during the third quarter, according to a report released Wednesday by PwC. That compares with $1.9 billion during the comparable period in 2017, according to PwC Deals: US Financial Services Deals Insigh...

    PWC
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    https://Policy.report/news-article.aspx?ID=704704

    HILB GROUP ACQUIRES MI-BASED P&C INSURANCE AGENCY

    Oct 24, 2018

    The Hilb Group (THG) has acquired the operations of Burns & Eustice Insurance Agency (B&E), based in Michigan.  Since 1931, B&E has been offering property & casualty insurance solutions to both personal and commercial clients in northern Michigan.

    THE HILB GROUP
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    https://Policy.report/news-article.aspx?ID=698698

    BROKERS ENJOYING AN INSURTECH BOOM AND THERE’S MORE ROOM FOR GROWTH

    Oct 24, 2018

    There’s no question that the opportunities in insurtech are growing, and incumbents in the insurance industry are taking note. Brokers and carriers are benefiting from solutions that simplify everyday workflows as technology companies continuously work on their offerings to solve pain points f...

    INSURANCEPLATFORM
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    https://Policy.report/news-article.aspx?ID=699699

    REINSURANCE WITH ‘ALTERNATIVE’ CAPITAL BACKING GOES MAINSTREAM

    Oct 23, 2018

    End investors, ILS funds, and buyers the three groups active in ILS have predominantly weathered 2017 loss activity with a view that reinsurance products backed by ‘alternative’ capital have become mainstream, according to a study by Willis Re. The Global ILS Market Survey polled the thr...

    WILLIS RE
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    https://Policy.report/news-article.aspx?ID=694694

    GALLAGHER SNAPS UP WASHINGTON STATE-BASED BENEFITS PROVIDER

    Oct 23, 2018

    Arthur J. Gallagher & Co. has acquired independent benefits broker Richter International Consulting in Issaquah, Washington. Terms of the transaction were not disclosed. Richter International, founded in 2002 by Dave Richter, designs customized international benefits programs for both multinatio...

    GALLAGHER
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    https://Policy.report/news-article.aspx?ID=695695

    TAKE1 INSURANCE UNLEASHES INSURANCE FOR ESCAPE ROOM BUSINESSES

    Oct 23, 2018

    Entertainment specialty underwriter Take1 Insurance is offering an insurance solution to operators of escape rooms. The insurance solution is being exclusively endorsed to members of the Association for Room Escapes of North America (ARENA). “A new and growing live experience industry requires...

    TAKE1 INSURANCE
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    https://Policy.report/news-article.aspx?ID=696696

    SEEMAN HOLTZ BUYS REDEL INSURANCE, BOOSTS MIDWEST EXPANSION

    Oct 19, 2018

    Seeman Holtz Property & Casualty has announced the acquisition of Missouri-based Redel Insurance Agency. Redel Insurance Agency has been serving customers in Missouri for three-quarters of a century. The agency offers personal and commercial insurance ranging from auto and life to employee and w...

    REDEL INSURANCE AGENCY
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    https://Policy.report/news-article.aspx?ID=691691

    EXPERT: HURRICANE MICHAEL LOSSES COULD REACH $11 BILLION

    Oct 19, 2018

    An expert has estimated that insured losses from Hurricane Michael will probably be within the $8-$11 billion range. University of South Carolina professor of financial risk management and insurance Bob Hartwig told ABC News that if that projection holds, it would make Michael the 11th costliest ins...

    AIR WORLDWIDE
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    https://Policy.report/news-article.aspx?ID=692692

    TRAVELERS SEES PROFITS MORE THAN DOUBLE IN Q3

    Oct 18, 2018

    Property and casualty insurance giant The Travelers Companies has today reported third-quarter (Q3) profits of $709 million, more than doubling the firm’s $293 million net income from the same period last year. Travelers attribute its Q3 success partly to a $436 million reduction in catastroph...

    TRAVELERS
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    https://Policy.report/news-article.aspx?ID=686686

    SWISS RE PROJECTS 2018 Q3 CLAIMS BURDEN TO BE AROUND US$1.1 BILLION

    Oct 18, 2018

    Swiss Re has released its estimates for the third quarter of 2018, pegging its preliminary combined claims burden from recent catastrophes at approximately US$1.1 billion, net of retrocession and before tax. The reinsurer broke down the total cost, noting that claims from Typhoon Jedi are expected t...

    SWISS RE
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    https://Policy.report/news-article.aspx?ID=687687

    PHARMACY OWNERS CHARGED IN $1 BILLION INSURANCE SCAM

    Oct 18, 2018

    Four men and seven companies have been charged in connection with a $1 billion healthcare scam, according to the Department of Justice. Andrew Assad, Peter Bolos, Michael Palso, and Larry Everett Smith, all of Florida, have been charged with conspiracy to commit health care fraud, mail fraud, and in...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=688688

    WHY A CYBER INSURANCE POLICY IS NOT ENOUGH

    Oct 17, 2018

    As cyber risks continue to evolve at a rapid pace, the importance of robust cyber insurance is becoming all the more clear. But the insurance policy is just one component of a much wider picture. In order to effectively safeguard themselves from cyber threats, organizations need access to an array o...

    NAS INSURANCE
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    https://Policy.report/news-article.aspx?ID=681681

    TEXAS PILOT WHO CRASHED PLANE FOR INSURANCE SENTENCED TO PRISON FOR FRAUD SCHEME

    Oct 17, 2018

    A 33-year-old pilot, formerly of Kemah, Texas, was sentenced in early October to more than five years in prison and ordered to repay nearly $1 million in an insurance fraud-related case.

    Theodore Robert Wright III previously pleaded guilty on Dec. 7, 2017, to conspiracy to commit wire...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=683683

    LAWMAKERS CALL FOR MORE FUNDS FOR INSURANCE FRAUD UNIT

    Oct 16, 2018

    Michigan’s legislators are calling for the creation of a new agency that would get to the bottom of the state’s pressing auto insurance fraud issues. The lawmakers’ call follows the shaky establishment of the anti-fraud unit within the Department of Insurance and Financial Services...

    DIFS
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    https://Policy.report/news-article.aspx?ID=678678

    FLORIDA ORDERS INSURERS TO HALT RATE HIKES; SETS UP HURRICANE MICHAEL CLAIMS VILLAGE

    Oct 16, 2018

    Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders including freezing any rate hikes for 90 days to support recovery efforts in areas impacted by Hurricane Michael. The order by Florida Insurance Commissioner D...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=679679

    US INSURER ACQUIRES SPECIALTY UNDERWRITER FROM MUNICH RE

    Oct 15, 2018

    London-based MSP Underwriting Limited will no longer be a Munich Re subsidiary, as the global specialty underwriter finds itself sold to US insurer Cincinnati Financial Corporation. Based on MSP Underwriting’s projected net asset value at closing, the Ohio-headquartered firm has agreed to acqu...

    MUNICH RE
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    https://Policy.report/news-article.aspx?ID=674674

    MARKET CHANGES NOT EXPECTED FROM HURRICANE MICHAEL; FLORIDA INSURERS ‘HEAVILY’ REINSURED

    Oct 15, 2018

    Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but not enough to cause problems for insurers or a pullback in capacity, experts say. Ohio-ba...

    INSURANCE JOURNAL
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    https://Policy.report/news-article.aspx?ID=675675

    HOW FLORIDA’S ‘ODDBALL’ INSURANCE MARKET IS GOING TO BE TESTED BY MICHAEL

    Oct 12, 2018

    While Hurricane Michael considered the third-most intense hurricane to make landfall on the US – has hit Florida particularly hard, major insurance companies will not be paying for the damages arising from the weather event. That responsibility falls upon smaller, lesser-known insurers and the...

    UNIVERSAL INSURANCE HOLDINGS INC
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    https://Policy.report/news-article.aspx?ID=670670

    MINNESOTA CHIROPRACTORS GOING TO PRISON FOR INSURANCE FRAUD SCHEMES

    Oct 12, 2018

    Two Minnesota chiropractors have been sentenced to prison for their roles in separate multi-million-dollar insurance fraud conspiracies, the Minnesota Commerce Department announced. Adam John Burke, age 34, of Minneapolis, was sentenced to 90 months in prison. Preston Ellard Forthun, age 40, of Bloo...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=671671

    INSURANCE CARRIERS CAN EASILY HANDLE MICHAEL LOSSES

    Oct 11, 2018

    Although Hurricane Michael currently hitting the Florida Panhandle has been classified as a Category 4 storm, experts believe the insurance industry can easily handle damages arising from the weather event. “The industry is over-capitalized by over $150 billion,” Wells Fargo Securities i...

    YAHOO FINANCE
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    https://Policy.report/news-article.aspx?ID=666666

    ARE REMOTE INSURANCE AGENTS ACTUALLY MORE EFFICIENT THAN ON-SITE ONES

    Oct 11, 2018

    Although insurance agents have the option to either work on-site in a call center or remotely using the latest virtual platforms, one industry expert suggests that handling calls remotely is far more efficient and beneficial for agents. In a special feature on CIO Review, Clearlink executive vice pr...

    CLEARLINK
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    https://Policy.report/news-article.aspx?ID=667667

    ALLIANZ UNIT REORGANIZES ALTERNATIVE RISK TRANSFER BUSINESS

    Oct 10, 2018

    Allianz Global Corporate & Specialty (AGCS) has announced that it is reorganizing its Alternative Risk Transfer (ART) line of business into two specialist teams. Effective November 01, the AGCS insurance-linked market team will become a standalone line of business known as Capital Solutions. It ...

    ALLIANZ GLOBAL CORPORATE
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    https://Policy.report/news-article.aspx?ID=662662

    GEORGIA INSURANCE CHIEF SAYS TO PREPARE FOR HURRICANE MICHAEL; STATE OF EMERGENCY ISSUED

    Oct 10, 2018

    Georgia Governor Nathan Deal declared a State of Emergency Tuesday ahead of Hurricane Michael, which was expected to slam Florida as a Category 4 storm then travel northeast towards Georgia and the Carolinas on Thursday and Friday. The deal today issued the emergency declaration for 92 Georgia count...

    RMS
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    https://Policy.report/news-article.aspx?ID=663663

    GET READY FOR THE INSURTECH REVOLUTION, ACT 2

    Oct 08, 2018

    The digital revolution in insurance is about to begin its second act. Having in its first phase used science and technology to inspire a rethinking of insurance that is making insurance easier and more efficient to buy and sell, and improving customer experiences especially around claims, insurtech ...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=655655

    LENDINGTREE TO ENTER INSURANCE SPACE

    Oct 08, 2018

    LendingTree is dipping its toes into the insurance space. The mortgage-comparison site has agreed to acquire QuoteWizard, one of the largest online insurance comparison websites. LendingTree will pay up to $370.2 million for QuoteWizard, $300 million in cash at closing and contingent payments of up ...

    INSURANCE JOURNAL
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    https://Policy.report/news-article.aspx?ID=657657

    COP PAYS FOR HOMELESS FAMILY’S AUTO INSURANCE

    Oct 08, 2018

    A homeless family in Jonesboro, GA got the surprise of their lives when they were pulled over by the police and got their van insured in the process. Rayshell and Joe Blakney were driving last week to a motel to spend their last night before ultimately living out of their van they were joined by fou...

    GOFUNDME
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    https://Policy.report/news-article.aspx?ID=659659

    HUB ACQUIRES CA-BASED LIBERTY NEW GATE INSURANCE SERVICES

    Oct 05, 2018

    Hub International has acquired the assets of Liberty New Gate Insurance Services in Watsonville, CA. Terms of the transaction were not disclosed. Liberty New Gate has been in business for over 35 years as a commercial insurance provider specializing in the agriculture and horticulture sector - the c...

    HUB INTERNATIONAL
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    https://Policy.report/news-article.aspx?ID=653653

    PET INSURANCE MARKET SET TO DOUBLE BY 2022

    Oct 04, 2018

    The US pet insurance industry, worth slightly more than $1 billion in 2017, will nearly double to $2 billion by 2022, according to a forecast by market research firm Packaged Facts. The firm predicts that the pet insurance market will grow more than 14% per year, supported by a number of trends most...

    PACKAGED FACTS
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    https://Policy.report/news-article.aspx?ID=650650

    LIBERTY MUTUAL CREATES SPECIALIZED HEALTHCARE CLAIMS TEAM

    Oct 04, 2018

    Liberty Mutual’s National Insurance operation has created a specialized healthcare claims team that will help healthcare companies manage the total cost of their casualty claims. The specialized healthcare claims team will provide companies along with the agents and brokers supporting those co...

    LIBERTY MUTUAL
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    https://Policy.report/news-article.aspx?ID=651651

    PENNSYLVANIA WARNS ABOUT FLOOD-DAMAGED VEHICLES AFTER HURRICANE FLORENCE

    Oct 03, 2018

    With automotive officials estimating that as many as 40,000 vehicles were damaged by flooding from Hurricane Florence, the Pennsylvania Insurance Department and the Pennsylvania Department of Transportation (PennDOT) are warning consumers to be on the lookout for flood-damaged cars being sold as und...

    PENNSYLVANIA INSURANCE DEPARTMENT
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    https://Policy.report/news-article.aspx?ID=646646

    AMERICAN TRADITIONS INSURANCE LAUNCHES RENTERS POLICY IN FLORIDA

    Oct 03, 2018

    American Traditions Insurance Co. (ATIC) has launched a renters (HO4) product in the Florida marketplace. The HO4 product will be available through independent agents currently participating with the carrier. The renter's program expands the company’s suite of insurance products that inclu...

    AMERICAN TRADITIONS INSURANCE CO
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    https://Policy.report/news-article.aspx?ID=647647

    MILLENNIALS’ APPROACH TO WORKING LIFE MAKES THEM HARDER TO RETAIN IN INSURANCE

    Sep 28, 2018

    The seeds for the millennial crisis in insurance were planted a long time ago when this generation was growing up, they were instilled with values that they’ve carried with them into their careers. “They have no expectation of lifetime employment and because they grew up watching their p...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=642642

    NEW PROPERTY INSURER, JOURNEY, TO INCLUDE TEXAS IN INITIAL ROLL OUT

    Sep 28, 2018

    Texas is one of three states in which a new property/casualty insurance company plans its initial rollout. In addition to Texas, Florida-based Journey Insurance Co., formed by United Insurance Holdings Corp. (UPC Insurance) in partnership with Tokio Marine Kiln, will initially offer homeowners and c...

    UNITED INSURANCE HOLDINGS CORP
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    https://Policy.report/news-article.aspx?ID=643643

    CHURCH MUTUAL: WILDFIRE ‘A GROWING ISSUE’ FOR THE INSURANCE INDUSTRY

    Sep 27, 2018

    The United States remains embroiled in a battle against one the most ferocious wildfire seasons on record. In California, the amount of acreage to go up in flames this year has been monumental and has really stretched the resources of the emergency services. Insurers are also feeling the heat of the...

    CHURCH MUTUAL
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    https://Policy.report/news-article.aspx?ID=638638

    INSURANCE AGENT MADE NEARLY $5 MILLION, PAID NO TAX

    Sep 27, 2018

    An insurance agent in Chicago has pleaded guilty to not paying federal and state income taxes as he made hundreds of thousands of dollars each year. John Ocwieja, 49, made over $4.7 million in income between 2006 and 2016 but failed to pay income taxes, the government alleged. Of the 11 years he fai...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=639639

    TWO NY MEN ACCUSED OF RESTAURANT ARSON SCHEME TO CLAIM ON INSURANCE

    Sep 26, 2018

    Two men have been indicted for setting fire to a restaurant in an attempt to collect on the resulting insurance payment. The two, Mushtak Al Mosaadi, 47, and Omran Al-Khazraji, 47, were charged with conspiracy to damage and destroy a building used in interstate commerce by fire and damaging and dest...

    WIVB
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    https://Policy.report/news-article.aspx?ID=634634

    HOW INSURTECHS ARE ACTUALLY BOOSTING INSURANCE BROKERS

    Sep 26, 2018

    Funding for insurtechs isn’t slowing down, with $2.3 billion invested in 2017, a 36% increase from 2016, and, so far in 2018, insurtech funding transactions in Q2 have reached an all-time high, according to Willis Towers Watson. At the same time, the benefits that insurance companies stand to ...

    ACCENTURE
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    https://Policy.report/news-article.aspx?ID=635635

    HAWAII DENTIST SENTENCED FOR INSURANCE FRAUD

    Sep 25, 2018

    A Hawaii dentist has been ordered to pay more than $20,000 in restitution for insurance fraud.
    Dr. Terry Allen was sentenced to a four-year term of deferral and ordered to pay $20,878.86 to the Hawaii Medical Services Association (HMSA). He was also ordered to pay a fine of $2,500 to the Crim...

    HAWAII MEDICAL SERVICES ASSOCIATION
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    https://Policy.report/news-article.aspx?ID=630630

    HULL PREMIUMS DROP, BUT RISK PROFILE SUGGESTS SIGNS OF LIFE

    Sep 24, 2018

    While global hull premium income declined by 2.3%, the sector’s general risk profile and trading conditions are showing signs of improvement, according to the International Union of Marine Insurance (IUMI). During the organization’s annual conference in Cape Town, South Africa last week,...

    INTERNATIONAL UNION OF MARINE INSURANCE
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    https://Policy.report/news-article.aspx?ID=631631

    COURT RULES FOR ARCHDIOCESE IN CONNECTICUT IN PRIEST ABUSE INSURANCE CASE

    Sep 21, 2018

    A federal appeals court says an insurance company must reimburse the Roman Catholic Archdiocese of Hartford nearly $1 million for payments the archdiocese made to settle sexual misconduct cases involving priests and minors. A three-judge panel of the 2nd U.S. Circuit Court of Appeals in New York on ...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=627627

    INSURTECH TRANSACTIONS MOVE TO ALL-TIME HIGH

    Sep 20, 2018

    The total of 71 insurtech funding transactions in the second quarter of 2018 is an all-time high, according to a Willis Towers Watson report. However, the total amount of money invested actually declined from the previous quarter. Investors poured in US$579 million into insurtech companies in the se...

    WILLIS TOWERS WATSON
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    https://Policy.report/news-article.aspx?ID=622622

    CALIFORNIA MAN TRIES BUYING AUTO INSURANCE AN HOUR AFTER CRASH

    Sep 20, 2018

    A California man is heading to prison for 11 years after being convicted of insurance fraud. According to prosecutors, the man purchased an auto insurance policy an hour after he crashed his car. Lamont James, 34, was convicted of two counts of insurance fraud, according to a report by Suisun City P...

    SUISUN CITY PATCH
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    https://Policy.report/news-article.aspx?ID=623623

    INSURANCE GIANT ADDS FITNESS TRACKING TO ALL ITS POLICIES

    Sep 20, 2018

    One of North America’s largest life insurance providers will now sell only policies that include digital fitness tracking. All of John Hancock’s policies will now be “interactive” collecting fitness data through wearable devices like smartwatches and FitBits, according to a B...

    BBC
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    https://Policy.report/news-article.aspx?ID=625625

    NORTH CAROLINA SETS UP INSURANCE CAMPS, VICTIM ASSISTANCE CENTERS WITH FEMA, NFIP

    Sep 19, 2018

    Consumer assistance centers and insurance camps have been set up in areas of North Carolina affected by Hurricane Florence, according to a statement from North Carolina Insurance Commissioner Mike Causey. “We are going into flood-ravaged areas to assist people whose homes and lives have been d...

    FEMA
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    https://Policy.report/news-article.aspx?ID=619619

    LEXISNEXIS: AUTO INSURANCE SHOPPING INCREASES, BUT CONSUMERS DISPLAY LESS BRAND LOYALTY

    Sep 18, 2018

    Although auto insurance shopping volumes have been steadily increasing in recent years, customer loyalty to specific insurance brands has been largely dismissed, a new report by LexisNexis Risk Solutions found. LexisNexis examined 3.5 billion consumer shopping transactions since 2009 to prepare its ...

    LEXISNEXIS
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    https://Policy.report/news-article.aspx?ID=615615

    HURRICANE FLORENCE LIKELY TO EXPOSE GAPS IN FLOOD INSURANCE

    Sep 17, 2018

    The number of Americans with flood insurance is on the rise, yet Hurricane Florence is likely to make it painfully clear that too many homeowners in the Carolinas and other vulnerable regions remain unprotected. An analysis of federal flood insurance records by The Associated Press found there ...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=616616

    INSURANCE AGENT JAILED OVER ATTEMPT TO DEFRAUD TERMINALLY ILL FRIEND

    Sep 10, 2018

    An insurance agent in Ashburn, VA has been sentenced to two years in prison for defrauding her client of about $182,000. Loudoun Now reported that Semyya  Cunningham, 41, was convicted by a federal jury on February 1. Court records said Cunningham was an agent and licensed representative of Wes...

    WESTERN RESERVE LIFE ASSURANCE
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    https://Policy.report/news-article.aspx?ID=608608

    KENTUCKY FARMER INDICTED IN $1 MILLION CROP INSURANCE FRAUD

    Sep 10, 2018

    A Kentucky farmer allegedly scammed more than $1 million through fraudulent crop insurance claims and other illegal acts. A federal grand jury has indicted Christopher G. Hickerson, 45, according to The Lexington Herald-Leader. Hickerson raised tobacco, winter wheat, and soybeans on his farm in Flem...

    FEDERAL CROP INSURANCE CORPORATION
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    https://Policy.report/news-article.aspx?ID=609609

    BERMUDA MARKET TO STAY KEY REINSURANCE HUB DESPITE U.S. TAX REFORM: A.M. BEST

    Sep 07, 2018

    Bermuda will continue to be a key international hub for reinsurance despite being challenged in recent years, most recently by tax reform in the United States, which fundamentally changed how multinational entities are taxed. How the territory’s market has responded to evolving regulation and ...

    A.M. BEST
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    https://Policy.report/news-article.aspx?ID=604604

    WEINSTEIN INSURANCE SERVICES OF FLORIDA MERGES WITH NSI INSURANCE GROUP

    Sep 07, 2018

    NSI Insurance Group has expanded its South Florida operations through a merger with Weinstein Insurance Services, an independent agency in Coral Gables, Fla. Weinstein Insurance Services President Jay Weinstein and his team will join NSI Insurance Group’s Miami Lakes office, bringing more than...

    NSI INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=605605

    UNDERLYING RETURN OF REINSURERS’ EQUITY SLIPPED IN 1H 2018 – REPORT

    Sep 06, 2018

    Shareholders’ equity in 34 reinsurance companies for the first half of 2018 totaled US$364.9 billion, a 1.6% decrease from end-2017 levels, a report by Willis Re has revealed. According to data from the Willis Reinsurance Index, the decrease occurred despite an improvement in net income of nea...

    WILLIS REINSURANCE
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    https://Policy.report/news-article.aspx?ID=600600

    TEXAS MUTUAL EXPLAINS OPEN STRATEGY ON FRAUD BUSTING

    Sep 06, 2018

    Texas Mutual Insurance Company is well and truly clamping down on insurance fraud. In 2017, the insurer’s internal fraud department identified more than $6 million in workers’ compensation fraud and made a number of convictions. The fraud busters have remained hard at work through the fi...

    TEXAS MUTUAL INSURANCE
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    https://Policy.report/news-article.aspx?ID=601601

    GENERALI GLOBAL ASSISTANCE NAMES PRESIDENT OF TRAVEL INSURANCE BUSINESS LINE

    Sep 05, 2018

    Generali Global Assistance has appointed Philippe Gervais as president of its travel insurance division. As president of travel insurance, Gervais will be based in San Diego and will report to Generali Global Assistance North America CEO Chris Carnicelli, who oversees Generali’s travel insuran...

    GENERALI GLOBAL
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    https://Policy.report/news-article.aspx?ID=596596

    INJURED WORKER FRAMED FOR INSURANCE FRAUD GETS SPLIT RULING ON APPEAL

    Sep 05, 2018

    The Court of Appeals of North Carolina has ruled that an injured worker whose insurer knowingly provided false information to police to frame him for insurance fraud, resulting in his arrest, incarceration and indictment on felony charges, can pursue malicious prosecution, abuse of process and unfai...

    KEY RISK INSURANCE CO
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    https://Policy.report/news-article.aspx?ID=597597

    ACQUISITION TO MAKE MARKEL LARGEST PLAYER IN INSURANCE-LINKED SECURITIES

    Sep 04, 2018

    Markel Corporation has announced that it has entered into an agreement to acquire all of the outstanding shares of Nephila Holdings, a top insurance-linked securities manager. Nephila has more than US$12 billion in assets under management for more than 300 investors. Nephila will continue to operate...

    MARKEL CORPORATION
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    https://Policy.report/news-article.aspx?ID=592592

    RICO CASE AGAINST STATE FARM SET FOR TRIAL IN ILLINOIS FEDERAL COURT

    Aug 31, 2018

    A class-action lawsuit against insurance giant, State Farm, alleging the company recruited a judge to run for an opening on the Illinois Supreme Court and funded, without disclosing it, his 2004 election campaign is set to go to trial in federal court next month. In Hale, et al. v. State Farm Mut. A...

    STATE FARM
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    https://Policy.report/news-article.aspx?ID=593593

    STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY ANNOUNCES NEW YORK RATE CUT

    Aug 31, 2018

    State Farm Mutual Automobile Insurance Company has announced it will cut its rates in New York. As a result, its overall personal auto rate will drop by 3.4%. The total state-wide expected impact for State Farm Mutual by this rate decrease in New York will be approximately $55 million, according to ...

    STATE FARM MUTUAL AUTOMOBILE INSURANCE
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    https://Policy.report/news-article.aspx?ID=584584

    SOLAR PROJECTS IN OREGON GETTING INSURANCE TO GUARANTEE PRODUCTION

    Aug 31, 2018

    GCL New Energy Holdings Ltd. is managing the risk related to the unpredictable nature of the sun, with an insurance-like policy that will guarantee the production from solar projects it’s building in Oregon. KWh Analytics, a San Francisco-based risk-management software company, structured the ...

    GCL NEW ENERGY HOLDINGS LTD
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    https://Policy.report/news-article.aspx?ID=585585

    ZURICH INSURANCE BEGINS COMPETITION TO FIND CUTTING-EDGE INSURTECH STARTUPS

    Aug 31, 2018

    Zurich Insurance Group believes a competition will help it find cutting-edge startups and entrepreneurs with whom to collaborate in the insurtech space. The Swiss insurer launched what it is calling the Zurich Innovation World Championship, billing it as a global competition where the winners gain t...

    ZURICH INSURANCE GROUP
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    https://Policy.report/news-article.aspx?ID=586586

    ROOST PARTNERS WITH NEW YORK-BASED KINGSTONE INSURANCE

    Aug 30, 2018

    Roost, a provider of home telematics for property insurance carriers, has partnered with New York-based Kingstone Insurance. Roost is a technology company headquartered in Sunnyvale, Calif. Kingstone is a property and casualty insurance holding company whose principal operating subsidiary, Kingstone...

    KINGSTONE INSURANCE
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    https://Policy.report/news-article.aspx?ID=587587

    VIRGINIA REMINDS HOMEOWNERS TO REVIEW PROPERTY COVERAGE BEFORE A HURRICANE

    Aug 30, 2018

    Although hurricane activity in the Atlantic has been relatively quiet so far for 2018 with only five named storms to date, the Virginia State Corporation Commission’s (SCC) Bureau of Insurance is reminding Virginians not to let their guard down. With more than three months left in the Atlantic...

    INSURANCEJOURNAL
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    https://Policy.report/news-article.aspx?ID=581581

    INSURANCE GIANT LLOYD’S MAKES MOVE INTO CRYPTOCURRENCY REALM

    Aug 29, 2018

    Lloyd’s of London has entered the cryptocurrency market, albeit with a minimum of fanfare from the organization itself. Kingdom Trust, a Kentucky-based organization, is the recipient of its milestone policy. Originally launched in 2010, Kingdom Trust is an independent qualified custodian regul...

    LLOYD
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    https://Policy.report/news-article.aspx?ID=577577

    CYBER CLAIMS COMING FROM ORGANIZED CRIMINAL GANGS - CFC

    Aug 29, 2018

    Malicious malware, such as NotPetya, and nation-state hacking have cast a dark shadow over the cyber insurance landscape, and while the threats are real, that’s just the top of the pyramid of what’s driving cyber claims. CFC Underwriting’s chief innovation officer can count on one ...

    INSURANCEBUSINESSMAG
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    https://Policy.report/news-article.aspx?ID=578578

    FLORIDA ACUPUNCTURIST ARRESTED FOR $1.5 MILLION SCAM

    Aug 28, 2018

    A Florida acupuncturist has been charged with scamming Blue Cross Blue Shield of Florida out of nearly $1.5 million. Jill Jaynes, 56, was arrested last week at her Vero Beach, Fla., office, Absolute Integrated Medicine. She has been charged with racketeering, insurance fraud, engaging in an organize...

    TCPALM
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    https://Policy.report/news-article.aspx?ID=573573

    LOYAL CUSTOMERS PAY £75 MORE ON HOME INSURANCE

    Aug 28, 2018

    A study by consumer group Which? claims home insurance customers who have been with their insurer for more than a year paid on average £75 more than new customers for combined policies. The data comes from a survey of 5,592 owners of buildings and contents (combined) policies. New customers sa...

    LOYAL
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    https://Policy.report/news-article.aspx?ID=575575

    CALIFORNIA’S 1ST CANNABIS INSURER EXPANDS COVERAGE

    Aug 27, 2018

    California Insurance Commissioner Dave Jones approved a filing from Golden Bear Insurance Co. amending its California Cannabis program product to lower rates, expand coverage options, and expand the classes of business they will cover. Jones last year approved a Golden Bear filing to make the compan...

    GOLDEN BEAR INSURANCE CO
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    https://Policy.report/news-article.aspx?ID=571571

    ILLINOIS BECOMES FIRST STATE TO CHANGE ESSENTIAL HEALTH BENEFIT-BENCHMARK PLAN

    Aug 27, 2018

    Illinois became the first and only state in the nation to obtain approval for a revised Essential Health Benefit–benchmark on Monday. The new Access to Care and Treatment (ACT) Plan includes measures to reduce opioid addiction and expand access to mental health services in Illinois. The Access...

    IDOI
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    https://Policy.report/news-article.aspx?ID=572572

    KAPLANSKY INSURANCE BUYS ANOTHER MA-BASED INSURANCE AGENCY

    Aug 24, 2018

    Kaplansky Insurance, a major independent agency in the Northeast, has acquired Lit-Flynn Insurance Agency in Randolph, MA. This is Kaplansky’s 30th acquisition since its inception more than 25 years ago and its third for 2018 – the company had previously acquired Kelleher & Mackey In...

    KAPLANSKY INSURANCE
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    https://Policy.report/news-article.aspx?ID=568568

    TRANSCRIPTS UNEARTH INSURERS’ INTEREST IN BLOCKCHAIN

    Aug 24, 2018

    If you talk about it, it means you’re thinking about it. That’s the belief of Thomas Mason, a research analyst at S&P Global Market Intelligence, who examined global insurance firms’ call transcripts to gauge their keenness when it comes to blockchain technology. According to M...

    S&P GLOBAL MARKET INTELLIGENCE
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    https://Policy.report/news-article.aspx?ID=569569

    HIGH-NET WORTH INSURER VAULT ENTERS SOUTH CAROLINA

    Aug 22, 2018

    Vault, an insurer focused on the high net-worth personal insurance market, has officially opened for business in South Carolina. Vault offers insurance coverage and services for high-value homes, art, jewelry, cyber and personal excess liability coverage. Vault’s business model, built on agent...

    ALLIED WORLD ASSURANCE CO
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    https://Policy.report/news-article.aspx?ID=560560

    THE HARTFORD TO ACQUIRE SPECIALTY INSURER NAVIGATORS IN $2.1 BILLION DEAL

    Aug 22, 2018

    The Hartford Financial Services Group has agreed to acquire specialty insurer The Navigators Group in a transaction that values Navigators at approximately $2.1 billion. Under the terms of the agreement, Navigators stockholders will receive $70.00 per share in cash upon the closing of the transactio...

    HARTFORD FINANCIAL SERVICES GROUP
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    https://Policy.report/news-article.aspx?ID=561561

    NEW TASK FORCE TO ADDRESS HIGH AUTO INSURANCE RATES LOUISIANA

    Aug 22, 2018

    A new task force created to investigate the high cost of auto insurance in Louisiana held its first meeting on Aug. 21, the Louisiana Department of Insurance reports. The Louisiana High Auto Rates Task Force was formed by Insurance Commissioner James Donelon to look into high auto insurance rates in...

    LOUISIANA DEPARTMENT OF INSURANCE
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    https://Policy.report/news-article.aspx?ID=564564

    RUN-OFF VENTURE TARGETS FLORIDA AUTO INSURER PEACHTREE CASUALTY FOR FIRST ACQUISITION

    Aug 22, 2018

    International insurance and reinsurance company DARAG and U.S.-based acquisition specialist SOBC have formed a joint venture with SOBC DARAG in Delaware to support DARAG’s expansion into the U.S. and Bermuda/Caribbean run-off markets. SOBC DARAG’s first acquisition will be Peachtree Casu...

    DARAG
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    https://Policy.report/news-article.aspx?ID=565565

    A TALE OF TWO FLORIDAS: HURRICANE IRMA’S BELATED IMPACT ON REINSURERS

    Aug 21, 2018

    Everest Re was among those negatively impacted, with a preannounced net reserve charge of $250 million after taxes pushing net income down to $69.9 million, a figure more than 70 percent lower than last year’s second-quarter income of $245.7 million. During an earnings conference call, Dom Add...

    EVEREST RE
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    https://Policy.report/news-article.aspx?ID=556556

    NC INSURANCE COMMISSIONER BANS MOVE-INS IN UNSAFE UNIVERSITY RESIDENCE

    Aug 20, 2018

    The newly constructed University of North Carolina at Asheville residence halls were found unsafe. The NC insurance commissioner has banned students from being able to move into their residences at the University of North Carolina Asheville. Five newly constructed residence halls are deemed unsafe.

    UNIVERSITY OF NORTH CAROLINA ASHEVILLE
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    https://Policy.report/news-article.aspx?ID=557557

    FEMA: ALABAMIANS NEED FLOOD INSURANCE

    Aug 20, 2018

    The Federal Emergency Management Agency (FEMA) is encouraging those in Alabama to purchase flood insurance. Though flooding is Alabama’s second-most common natural hazard, occurring on average every 12 days, FEMA says only a small percentage of people living in Alabama actually have flood insu...

    FEDERAL EMERGENCY MANAGEMENT AGENCY
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    https://Policy.report/news-article.aspx?ID=552552

    CABRILLO COASTAL LAUNCHES FLOOD COVERAGE ENDORSEMENT FOR FLORIDA HOMEOWNERS

    Aug 20, 2018

    Cabrillo Coastal General Insurance Agency, headquartered in Gainesville, Fla., is now offering a flood endorsement for new or existing homeowners policies for their admitted programs in Florida. Cabrillo’s flood product was built from a different rating structure than the National Flood Insura...

    CABRILLO COASTAL GENERAL INSURANCE AGENCY
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    https://Policy.report/news-article.aspx?ID=553553

    INSURANCE EFFICIENCIES TO BE GAINED USING BLOCKCHAIN INFRASTRUCTURE

    Aug 16, 2018

    Blockchain technology provides brokers and carriers with a “really effective” way to perform KYC checks, according to Bundeep Singh Rangar, CEO of financial software firm PremFina. The sheer transparency and immutability of the blockchain make it very difficult for people to attempt frau...

    PREMFINA
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    https://Policy.report/news-article.aspx?ID=544544

    CAR INSURANCE ONLINE DISTRIBUTOR SURVEY REVEALS CONSUMER TASTES

    Aug 16, 2018

    The number of online distributors for personal lines insurance products has grown rapidly over the past several years. These websites are known to insurance industry experts as aggregators, quote comparisons sites, and lead generators. They serve as an alternative for consumers who work with traditi...

    PROPERTYCASUALTY360
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    https://Policy.report/news-article.aspx?ID=545545

    GLOBAL INSURED CAT LOSSES SEE LARGE DECLINES IN FIRST HALF: SWISS RE

    Aug 16, 2018

    Global insured losses from disasters fell 33% to $20 billion in the first half of 2018, compared with $30 billion in the first half of 2017, according to preliminary estimates from the Swiss Re Institute, the organization said in a statement Thursday. Global insured losses from natural catastrophes ...

    SWISS RE
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    https://Policy.report/news-article.aspx?ID=548548

    NEW FLORIDA INSURTECH AGENCY HONEYQUOTE LOOKS TO SHAKE-UP AGENCY MODEL

    Aug 16, 2018

    A new insurtech agency has entered the Florida homeowners market space with a rating engine offering quotes from multiple domestic carriers and the ability to purchase coverage in one transaction. HoneyQuote.com, launching next month, was created by Franklyn Taveras and Justin Zemaitis, who are both...

    PROPERTY & CASUALTY INSURANCE CO
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    https://Policy.report/news-article.aspx?ID=549549

    FLOOD INSURANCE PROGRAM WARNS FLAGSTAFF ABOUT POST-FIRE FLOODING

    Aug 14, 2018

    The Federal Emergency Management Agency’s National Flood Insurance Program is telling people in the Flagstaff area affected by a recent fire that they should protect their homes and families from flash flooding caused by summer rains. The agency says that this spring’s Tinder Fire result...

    FEMA
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