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HEARTLAND FARM MUTUAL INSURANCE SELECTS GUIDEWIRE INSURANCEPLATFORM

Nov 21, 2019

Heartland Farm Mutual, an Ontario-based mutual insurer, and Guidewire Software, provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Heartland Farm Mutual has selected Guidewire Insurance Platform products to modernize its infrastructure and tran...

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VOUCH INSURANCE RAISES $45M, LAUNCHES IN CALIFORNIA TO HELP START-UPS REDUCE RISK

Nov 20, 2019

Vouch Insurance, the platform offering seamless business insurance for startups, today announced a $45 million Series B investment round led by Y Combinator Continuity. Vouch also announced its launch in California, bringing digitally-delivered insurance coverage to the world’s largest technol...

GLOBE NEWSWIRE
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HAMILTON INSURANCE GROUP REVEALS LLOYD'S SYNDICATE PLACED INTO RUN-OFF

Nov 19, 2019

“As we completed the capital raising process at Lloyd’s, we concluded that Acappella was unlikely to produce an adequate return on capital.” Those were the words of Hamilton Insurance Group boss Pina Albo when it was announced that Acappella Syndicate 2014 is being placed into run-...

INSURANCE BUSINESS MAGAZINE
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AXA PARTNERS UNVEILS COLLABORATION WITH SHELL ENERGY RETAIL

Nov 18, 2019

It looks like AXA Partners is on a roll. The transversal business unit, which in recent months extended its existing relationships with Atlanta Group and Lloyds Banking Group, has a new friend in the form of Shell Energy Retail. The latter, in conjunction with AXA Partners, has launched boiler care ...

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SEE WHAT PEOPLE ARE SAYING ABOUT THE POLY STUDIO USB VIDEO BAR

Nov 13, 2019

“The Polycom Studio is fantastic because it gives organisations access to the flexible huddle room environments they need, without asking them to deal with complicated tools and technology. The Polycom Studio is a powerful piece of equipment, but it’s not complicated or daunting. Unlike ...

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BENEFITMALL PARTNERS WITH HUMANA

Nov 11, 2019

BenefitMall, a provider of employee benefits and payroll services, has announced the launch of Humana Integration through its online enrollment platform. The integration is available in all markets, and offers an entirely digitized enrollment experience that allows group applications to be submitted...

INSURANCE BUSINESS MAGAZINE
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ROOT INSURANCE COMPANY LAUNCHES NEW RENTERS INSURANCE

Nov 07, 2019

Rental insurance has long been clouded by confusing, generic plans sold on agent commissions, without understanding and protecting real people’s needs. Until now. Root Insurance, the largest property casualty InsurTech in the country, has launched an affordable, streamlined renters insurance d...

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POLY ANNOUNCES SECOND QUARTER FISCAL YEAR 2020 FINANCIAL RESULTS

Nov 05, 2019

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

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

Nov 04, 2019

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

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

Nov 04, 2019

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

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PROSPECTIVE INSURANCE EMPLOYEES PUSHING INDUSTRY ON CLIMATE CHANGE

Oct 23, 2019

A petition from young people preparing to enter a career in insurance is calling on US insurers to end their underwriting and investments in coal and other fossil fuels. The petition was started by Schuyler Holder, a senior at the University of North Texas and a member of Gamma Iota Sigma, a nationa...

INSURANCE BUSINESS AMERICA
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PRINCIPAL FINANCIAL SIMPLIFIES TERM INSURANCE PURCHASE PROCESS

Oct 23, 2019

Principal Financial Group has launched a new digital tool that enables prospective clients to easily purchase term insurance plans in a bid close the life insurance gap in the US. Dubbed Principal Life Online, the new platform has been designed to streamline buying insurance experience from applicat...

VERDICT
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ALLSTATE INTRODUCES COMPETITIVE AUTO INSURANCE RATES IN WI

Oct 15, 2019

Allstate is introducing competitive auto insurance rates for new customers in the state of Wisconsin.
A release explained that the new rates “reflect a renewed commitment” to serving the state’s drivers. The adjusted rates came into effect October 14, 2019.“Supporting ...

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AM BEST GIVES RATING TO ZURICH INSURANCE GROUP’S INSURANCE SUBSIDIARIES

Sep 26, 2019

Zurich Insurance Group’s main-rated insurance subsidiaries have had their A+ (Superior) financial strength rating and “aa-” long-term issuer credit rating affirmed by AM Best. The global ratings agency also affirmed the “a” long-term ICR of non-operating holding company...

INSURANCE BUSINESS MAGAZINE
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MARSH PILOTS BLOCKCHAIN-POWERED INSURANCE PLACEMENT PLATFORM

Sep 25, 2019

Global insurance broker Marsh has announced that it is piloting a new digital placement platform powered by blockchain technology. The platform, Risk Exchange, was proposed by a winning Marsh hackathon team and further developed in Marsh Digital Labs. It allows Marsh brokers to provide real-time inf...

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HOLMES MURPHY ACQUIRES INDEPENDENT CAPTIVE MANAGEMENT FIRM

Sep 24, 2019

Holmes Murphy has acquired the independent captive management company Global Captive Management (GCM). Founded in 1982, GCM is considered one of the largest independently-owned captive managers in the world. The company operates in three locations: Cayman Islands, South Carolina, and New Jersey. GCM...

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EXDION SOLUTIONS LAUNCHES CUTTING EDGE INSURTECH SOLUTION EXCLUSIVELY FOR SMALL AGENCIES

Sep 23, 2019

Exdion Solutions, Inc., the leading Insurtech company that helps Insurance Brokers and Agencies build a robust business using smart AI, Machine learning, cloud and other technologies, today announced ExdionPOD LITE, a cognitive-science based SaaS product. Through ExdionPOD lite, the small agent will...

LIVE INSURANCE NEWS
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START-UP FOCUSED INSURER VOUCH LAUNCHES PRODUCTS, RISK ASSESSMENT TOOLS

Sep 20, 2019

Vouch Insurance, a new insurance company that exclusively serves tech start-up businesses, has announced that it has launched proprietary insurance products and risk assessment tools for its high growth clients. The products are available online through Vouch’s website. Within minutes, approve...

INSURANCE BUSINESS MAGAZINE
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QBE NORTH AMERICA’S ENHANCED CYBER SOLUTION GOES LIVE

Sep 19, 2019

QBE North America is introducing an enhanced cyber solution that helps protect customers from evolving cyber threats. Called “The Solution for Cyber Risk,” it features a new admitted form which offers a holistic risk management solution for businesses. It includes coverage for cyber liab...

INSURANCE BUSINESS MAGAZINE
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POLY INTRODUCES THE NEXT GENERATION OF SAVI WIRELESS HEADSETS

Sep 18, 2019

Plantronics, Inc. (“Poly” – formerly Plantronics and Polycom) (NYSE: PLT), a global communications company that powers meaningful human connection and collaboration, today announced the next generation of the company’s lineup of popular Savi wireless headsets. The enhanced Sa...

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POST-DORIAN INSUREDS CAN'T BE LULLED INTO RISK MITIGATION COMPLACENCY

Sep 18, 2019

Hurricane Dorian has finished its sweep through parts of the Bahamas, the southeastern United States, and Atlantic Canada, but that doesn’t mean people should be slacking when it comes to risk mitigation. In fact, a survey by the Private Risk Management Association (PRMA) this summer revealed ...

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REVVED UP AUTO INSURANCE FOR SUPERCARS

Sep 16, 2019

Imagine being one of the few lucky supercar fans to own a Bugatti Chiron. It has been described as a king among supercars – a fitting title considering its top speed of 261mph, its market rarity (only 500 were released for the first generation), and its astronomical price tag of around $2.6 mi...

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ASSUREDPARTNERS LONDON ENTERS THE WORLD OF M&A INSURANCE

Sep 13, 2019

AssuredPartners London now has a mergers and acquisitions (M&A) insurance division. The unit comes to life with the appointment of Ben Crabtree and Felix Sloman, who are both making the switch from JLT Specialty. They are slated to join AssuredPartners London towards the end of the year. “...

INSURANCE BUSINESS MAGAZINE
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FLINT INSURANCE FORMS NEW PRACTICE

Sep 12, 2019

Flint Insurance has something new to offer. The commercial insurance broker, with offices in Orrington and Chelmsford, has launched its media, entertainment, and technology (MET) proposition. The freshly formed practice will not only assist businesses with their corporate insurance needs but also pr...

INSURANCE BUSINESS MAGAZINE
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HONG KONG INSURANCE AUTHORITY HOSTS BELT AND ROAD FORUM

Sep 11, 2019

The Insurance Authority (IA) of Hong Kong has hosted a forum highlighting the importance of risk management in projects under Beijing’s Belt and Road Initiative (BRI). The forum, which was held on September 11 during the 2019 Belt and Road Summit at the Hong Kong Convention and Exhibition Cent...

INSURANCE BUSINESS MAGAZINE
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GALLAGHER REVEALS MAJOR TEXAS ACQUISITION

Sep 10, 2019

Arthur J. Gallagher & Co. has acquired Serna Insurance Agency in Humble, TX. Terms of the transaction were not disclosed. Serna Insurance Agency, founded in 2001, provides private client, personal lines and commercial insurance products and services to clients in Texas and other surrounding stat...

INSURANCE BUSINESS MAGAZINE
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NZCB URGES BUILDERS TO CONSULT WITH INSURERS AFTER SPIKE IN THEFTS

Sep 10, 2019

The New Zealand Certified Builders Association (NZCB) has urged builders to consult with insurers after a spike in thefts on building sites. According to Newshub, tradies across the country are becoming more concerned about thefts within the industry and the police have also noticed an increase in t...

INSURANCE BUSINESS MAGAZINE
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SAP AND CUSTOMERS INNOVATE NEW WAYS FOR INDUSTRY-SPECIFIC PARTS PLANNING

Sep 10, 2019

These are the result of SAP’s intelligent supply chain for assets customer initiative, which brought together SAP and more than 45 customers to co-innovate in this mission-critical area. The announcement was made at the North American Supply Chain Executive Summit in Chicago.“Every busin...

SOURCE
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ANNUAL INSURED LOSSES FROM GLOBAL CATASTROPHES REACH US$92 BILLION

Sep 09, 2019

Catastrophe modelling firm AIR Worldwide, a business of Verisk Insurance, has released its 2019 Global Modelled Catastrophe Losses report. The report, which outlined key loss metrics from the firm’s global industry exceedance probability (EP) curve, estimated that the global modelled insurance...

INSURANCE BUSINESS MAGAZINE
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DIRECT LINE INSURANCE GROUP DROPS OUT OF FTSE 100

Sep 06, 2019

Bromley-headquartered Direct Line Insurance Group Plc (DLG) will no longer be part of the elite roster of FTSE 100 firms starting September 23. An announcement by global index provider FTSE Russell confirmed that the insurance group, which is headed by chief executive Penny James (pictured), is bein...

INSURANCE BUSINESS MAGAZINE
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WILLIS RE REPORTS 8% JUMP IN REINSURANCE CAPITAL

Sep 05, 2019

Total capital dedicated to the global reinsurance industry reached US$559 billion at the half-year point of 2019, up 8% from US$518 billion at year-end 2018, driven by strong investment markets, according to Willis Re’s latest Reinsurance Market Report. The largest component of the overall fig...

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BIGTINCAN TAKES AIM AT REVENUE ENABLEMENT WITH ASDEQLABS ACQUISITION

Sep 05, 2019

Bigtincan (ASX:BTH), the leader in mobile, AI-powered sales enablement automation, today announced the acquisition of AsdeqLabs, whose platform provides support for field-based employees and mobile service capabilities, helping to usher in the next evolution of service enablement and customer ...

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BGC INSURANCE GROUP ANNOUNCES MAJOR ARRIVAL FOR AVIATION BUSINESS

Sep 04, 2019

To say that BGC Insurance Group (BGCI) has been busy building its new global aviation and space (re)insurance brokerage is perhaps an understatement, with the BGC Partners division snapping up experts left and right. The latest to come onboard is Bruce Fine, whose appointment as US aviation and aero...

INSURANCE BUSINESS MAGAZINE
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MAJOR COLLABORATION REVEALS CYBER REINSURANCE PROPOSITION

Sep 03, 2019

Two heads are better than one, they say, and that must have been why Capsicum Re and Swiss Re teamed up to develop what they describe as a holistic cyber reinsurance offering. Called Decrypt, the new proposition is designed to provide a “single, flexible, end-to-end” means to address the...

INSURANCE BUSINESS MAGAZINE
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SURVEY REVEALS NEW ZEALAND PET INSURANCE MARKET STILL IN INFANCY

Aug 28, 2019

New Zealand may be a nation full of pet lovers but research has revealed that its pet insurance market is still in its infancy – showing that a lot of owners may still be having second thoughts on insuring the furry member of their family. Canstar’s survey to find the Most Satisfied Cust...

INSURANCE BUSINESS MAGAZINE
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WATCHTOWER ADDS NEW INSURANCE OFFERINGS TO ITS CLOUD-BASED PLATFORM

Aug 27, 2019

WatchTower, a cloud-based platform that simplifies the employer-sponsored insurance distribution process, announced today that it has expanded its offerings to support Dental, Vision, and Worksite insurance, doubling its product portfolio. The expansion now allows brokers to run an entire non-medica...

PRNEWSWIRE
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BIGTINCAN NAMED IN GARTNER’S MARKET GUIDE FOR SALES ENGAGEMENT PLATFORMS, MEETING ALL IDENTIFIED CAPABILITIES

Aug 27, 2019

Bigtincan (ASX:BTH), the leader in mobile, AI-powered sales enablement automation, today announced it has been recognized as a Representative Vendor of Sales Engagement Platforms in all of the capabilities defined by Gartner as part of the August 2019 Market Guide for Sales Enablement Platform...

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INSURERS DROP 350,000 CALIFORNIA POLICIES

Aug 26, 2019

Insurance companies have refused to renew nearly 350,000 California home insurance policies in areas at high risk for wildfire since the state began collecting data in 2015, according to an Associated Press report. Loss of homeowners’ insurance – and skyrocketing premium prices – a...

INSURANCE BUSINESS MAGAZINE
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MARKETERS SHOULDN’T HAVE TO BE DATA SCIENTISTS

Aug 20, 2019

Over the past decade, the rise of Data-Driven Marketing and Account-Based Marketing (ABM) have both followed steep trajectories, and that’s no coincidence. After all, the best ABM programs are the ones built on rich data and insights. However, the meteoric rise of data-fueled ABM has had an un...

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INDEPENDENT INSURANCE CHANNEL SEES BEST QUARTER SINCE 2013

Aug 19, 2019

The independent insurance channel is breaking records, with a recent survey revealing that agents and brokers had their best Q2 since 2013. According to Reagan Consulting’s quarterly Organic Growth and Profitability (OGP) survey, the channel saw a 6.4% organic growth rate across all business l...

INSURANCE BUSINESS MAGAZINE
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FIRST PERSONAL CYBER POLICY LAUNCHED TO NZ MARKET

Aug 16, 2019

Delta Insurance has launched a new product to protect individuals and households from cyberattacks – the first insurance policy of its kind in New Zealand. This follows Delta’s earlier introduction of DynaRisk, a risk management offering which supports customer defenses against cyber ris...

INSURANCE BUSINESS MAGAZINE
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IBC: BC CONTINUES TO PAY HIGHEST PREMIUMS FOR AUTO INSURANCE

Aug 14, 2019

Citing data from the General Insurance Statistical Agency (GISA), the Insurance Bureau of Canada (IBC) continues to point out that the province of British Columbia still pays some of the highest auto insurance premiums in Canada. IBC has also called out the Insurance Corporation of British Columbia ...

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INSURERS ON PUSHING FLEXIBLE WORKING BEYOND CHILDCARE

Aug 13, 2019

The need for flexible working practices is often associated exclusively with childcare – however, insurance industry executives say it’s important to recognise the benefits of flexibility in being inclusive, and not only in terms of gender. Auckland’s recent Women in Insurance Summ...

INSURANCE BUSINESS MAGAZINE
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BIGTINCAN RECOGNIZED BY KEY INDUSTRY ORGANIZATIONS AS LEADER IN SALES ENABLEMENT

Aug 13, 2019

Bigtincan (ASX:BTH), the leader in mobile, AI-powered sales enablement automation, was presented with the MarTech Breakthrough Award for “Best Sales Enablement Software for SMBs” for the second year in a row. Additionally Bigtincan was recently named a “Sales Automation Solution&rd...

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REPORT SUGGESTS MANDATORY INSURANCE FOR NEW HOME BUILDS AND MAJOR RENOVATIONS

Aug 12, 2019

A new report by the Ministry of Business, Innovation, and Employment (MBIE) suggests that insurance should be compulsory for new house builds and major renovations. The report included 470 submissions on seven major proposals meant to amend the outdated Building Act 2004. The submissions came from e...

INSURANCE BUSINESS MAGAZINE
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PCF INSURANCE SERVICES EXPANDS INTO COLORADO

Aug 09, 2019

PCF Insurance Services has announced that it has acquired Colorado-based Silver Cloud Insurance Agency, doing business as Colorado Insurance Sales & Service. “The team at Colorado Insurance fits perfectly with PCF’s culture,” said Peter Foy, CEO of PCF. “We are excited to...

INSURANCE BUSINESS MAGAZINE
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AMP REVIVES PLAN TO SELL LIFE INSURANCE UNIT

Aug 08, 2019

Australian wealth giant AMP has announced that it would sell its life insurance business to London-based Resolution Life at revised terms for $3 billion. The revised deal, subject to regulatory approvals in Australia, New Zealand, and China, comprised a $2.5 billion cash component and a $500 million...

INSURANCE BUSINESS MAGAZINE
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NEW BROKER PORTAL INTRODUCED TO THE AUSTRALIAN INSURANCE MARKET

Aug 07, 2019

A world-first asset registry management app platform has been launched into the Australian insurance market. DayByDay, developed by Melbourne-based IT business Asta Solutions, is a secure and customer-focused tool built on blockchain technology that aims to help broker customers catalogue and regist...

INSURANCE BUSINESS MAGAZINE
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MADISON LOGIC ANNOUNCES ORACLE ELOQUA INTEGRATION

Aug 07, 2019

Madison Logic, the leading global account-based marketing (ABM) platform, today announced bi-directional integration with market-leading marketing automation platform Oracle Eloqua. This cutting-edge integration allows B2B marketers to combine best-in-class campaign management tools with Madison Log...

SOURCE
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TWO US-BASED INSURTECHS JOIN LLOYD'S INNOVATION ACCELERATOR PROGRAM

Aug 02, 2019

Lloyd’s has welcomed its newest batch of insurtechs to join its innovation accelerator, Lloyd’s Lab, with two American startups joining the lineup. The global (re)insurance market has selected 11 insurtechs for the third cohort of its incubator program, out of a list of 24 shortlisted ap...

INSURANCE BUSINESS MAGAZINE
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ADVISORY GROUP SUPPORTS ENGINEERING TEMPLATE FOR INSURANCE CLAIM

Aug 02, 2019

The Homeowners Advisory Group (HOAG) has supported a new engineering brief template that could help earthquake victims. Engineering New Zealand, a non-profit professional body, developed the template to improve outcomes for claimants with earthquake-damaged homes. HOAG, which works alongside the Gre...

INSURANCE BUSINESS MAGAZINE
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BREATHE EASY INSURANCE SOLUTIONS OPENS BUSINESS IN WA

Aug 01, 2019

Breathe Easy Insurance Solutions has expanded its business by opening in the state of Washington, which means the insurance provider now operates in 48 states. The company offers a broad range of policies, including auto, home, motorcycles, renters, RV, boat, business, and commercial. In a release, ...

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ILLINOIS INSURANCE AGENCY JOINS VIAA

Aug 01, 2019

An Illinois insurance agency has become the newest member of Valley Insurance Agency Alliance, a network of more than 120 independent insurance agencies in Missouri and Illinois. Pin Oak Agency, located in Maryville, Ill., has joined the alliance. Pin Oak Agency was founded by Andrew Calloway, who h...

INSURANCE BUSINESS MAGAZINE
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OPPORTUNITIES ABOUND IN 'RELATIVELY UNTAPPED' INSURANCE MARKET

Jul 31, 2019

Canada warmly welcomes millions of tourists every year. A recent anonymous survey commissioned by Toronto-based multinational insurance firm, Manulife, found that 33% of Canadians may host friends and family members from abroad this year. But among those welcoming hosts, only one-third were aware th...

INSURANCE BUSINESS MAGAZINE
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CYBER INSURANCE MAY CREATE FALSE SENSE OF SECURITY - FM GLOBAL SURVEY

Jul 31, 2019

New research by FM Global has suggested that cyber insurance may create a false sense of security among senior financial executives at some of the world’s major companies. The FM Global-commissioned study found that seven in 10 senior financial executives at the world’s largest companies...

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SABRE INSURANCE GROUP REPORTS LOWER HALF-YEAR NUMBERS

Jul 30, 2019

It’s the turn of Sabre Insurance Group Plc to reveal how it has fared so far in 2019. Releasing its half-year results this morning, the UK private motor insurance underwriter said it posted a pre-tax profit of £30.5 million, which is lower than the £32 million recorded (on an adjus...

INSURANCE BUSINESS MAGAZINE
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5G NETWORK TO BENEFIT MOTOR INSURANCE, ZHONGAN PREDICTS

Jul 30, 2019

A tech-focused insurer in China believes the rollout of the fifth-generation cellular network technology (5G) will benefit the insurance sector, especially motor insurance. ZhongAn Online P&C Insurance Co said 5G technology will help it develop more innovative insurance products, improve risk as...

INSURANCE BUSINESS MAGAZINE
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CHUBB INNOVATES IN MARINE INSURANCE

Jul 29, 2019

A global insurance company has innovated its insurance offering for the marine transport community. Chubb now offers instant shipment insurance on the networked trade platform (NTP) via its value-added service (VAS) listing, to instantly insure a wide range of goods including commercial containerise...

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THE INSURANCE TRANSACTION ‘IS TABLE STAKES’; CUSTOMER SERVICE IS KEY

Jul 29, 2019

Customer experience has become more important than ever for insurers in the digital era. Whereas 10-years-ago, the majority of customers would have visited an insurance branch office or called an insurance agent to purchase a policy, today they’re much more likely to do some initial research o...

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NEW AUTO SAFETY TECHNOLOGY LEAVES INSURERS IN THE DARK

Jul 26, 2019

Automakers are accelerating the rollout of technology designed to avoid crashes, but insurance companies are waving a caution flag at consumers eyeing discounts for buying collision-avoiding brakes or automated cruise control. The global market for advanced driver assistance systems, known in the in...

REUTERS
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TOKIO MARINE TO LAUNCH PROBE OF CAR INSURANCE PRODUCTS SOLD BY JAPAN POST

Jul 26, 2019

Tokio Marine & Nichido Fire Insurance Co. will conduct a probe into a car insurance product that have been sold by Japan Post Co. on commission, it has been learned. The move to launch the survey on the actual situation of the products, which were co-created by Tokio Marine and four other major ...

JAPAN TIMES
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BIGTINCAN EXPANDS TECH MARKET PRESENCES WITH ACQUISITION OF VEELO INC.

Jul 25, 2019

Bigtincan (ASX:BTH), the leader in mobile, AI-powered sales enablement automation, today announced the acquisition of Veelo Inc., a pioneer in sales enablement, to expand Bigtincan’s presence and offerings in the technology market vertical. The combination of Bigtincan’s solution, design...

SOURCE
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TX WOMAN CHARGED WITH INSURANCE FRAUD FOR MAKING FALSE FOOD POISONING CLAIM

Jul 25, 2019

A Houston, TX woman may have bitten off more than she could chew after she was charged with insurance fraud for claiming she suffered from food poisoning on several occasions. The woman, Cassandra Brooks, had previously won a lawsuit against Sonic Drive-In. According to court documents, she was sold...

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PHILIP MORRIS’ LIFE INSURANCE SUBSIDIARY BECOMES INSURTECH UK MEMBER

Jul 25, 2019

The controversial life insurance subsidiary of tobacco titan Philip Morris is now part of start-ups alliance Insurtech UK. Reviti, whose launch earlier this year marked the Marlboro maker’s entry into the British insurance market, has become a member of the trade body which was formally establ...

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GALLAGHER ACQUIRES MARYLAND P&C BROKERAGE

Jul 24, 2019

Arthur J. Gallagher & Co. has announced the acquisition of a Maryland-based retail property-casualty broker. Terms of the transaction were not disclosed. Gallagher has acquired The Novick Group, a broker focused on providing insurance products and services to non-profits and association clients ...

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2019 CONTENT MARKETING AWARD WINNERS & TOP FINALISTS REVEALED

Jul 24, 2019

The Content Marketing Institute (CMI) just announced the 85 category winners as well as the finalists for the top seven prizes in the prestigious 2019 Content Marketing Awards. The Content Marketing Awards, produced by the Content Marketing Institute, is the largest and longest-running international...

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INSURER’S EARNINGS MISS ESTIMATES AS UNDERWRITING GAIN DECLINES

Jul 23, 2019

While Beazley reported a doubling of profits earlier today, the next earnings story has a less happy outcome. Travelers has missed Wall Street estimates for second-quarter profit, thanks to weather-related losses that led to an 18% decrease in underwriting gain, according to reports from Reuters. Gu...

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WHAT WAS IT LIKE TO COME OUT IN THE INSURANCE SECTOR 20 YEARS AGO?

Jul 22, 2019

When Jason Groves (pictured), head of communications at Marsh UK, started in the insurance sector 20 years ago he kept a mental tally of who he had come out to. Being part of the LGBTIQ community in the insurance sector was incredibly different back then, with people much more hostile towards anyone...

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HONG KONG REGULATOR DELEGATES POWERS OVER BANKS’ INSURANCE BUSINESSES

Jul 22, 2019

Hong Kong’s Insurance Authority (IA) has delegated its inspection and investigation powers over insurance-related businesses of banks and other financial institutions to the Hong Kong Monetary Authority (HKMA). The agreement will take effect on September 23, the two regulatory bodies said in a...

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INSURANCE COMPANIES STARTING TO WISE UP TO CYBER RISK IN M&A DEALS

Jul 19, 2019

Mergers and acquisitions in the insurance brokerage space hit record highs in 2018. And, if the first six months of 2019 is anything to go by, this M&A trend is not showing any signs of changing in the near term. As insurance brokers and agents consider selling, there’s a lot of pre-transa...

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EX-AGENT MASQUERADING AS ‘LORD VOLDERMORT’ LOSES COURT APPEAL

Jul 19, 2019

A former insurance agent in Singapore, who used the codename ‘Lord Voldermort’ to threaten 33 of his ex-clients and their neighbours, has lost his court appeal against his 29-month jail sentence. Ye Lin Myint, a Singapore permanent resident of Burmese descent, used a misspelling of the i...

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ASIC WANTS TO BAN TELEPHONE SALES OF LIFE INSURANCE

Jul 18, 2019

The Australian Securities and Investments Commission (ASIC) has proposed to ban unsolicited telephone sales of direct life insurance and consumer credit insurance (CCI) to prevent the sale of complex insurance products which consumers do not need, want, or understand. ASIC released a consultation pa...

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CONSTRUCTION FIRM UNABLE TO FIND INSURANCE DUE TO LACK OF CAPACITY

Jul 18, 2019

Howden says current situation has put "incredible pressure" on the only compliant scheme available to customers. A shortage of capacity in the professional indemnity insurance and public liability insurance space has resulted in approved inspector Aedis Regulatory Services being left witho...

INSURANCE AGE
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CAR INSURANCE PRICES IN THE NORTH ACCELERATE FOR FIRST TIME IN 18 MONTHS

Jul 18, 2019

THE price of car insurance in the north has accelerated for the first time in 18 months, new figures show. Confused.com’s latest car insurance price index shows the average annual premium in the north now stands at £939, following a 5 per cent increase (£45) over the past year. It ...

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THE POSITIVE BY-PRODUCTS OF A DISLOCATED E&S INSURANCE MARKET

Jul 17, 2019

The excess and surplus (E&S) lines insurance market in the US is in a state of flux. Ongoing challenges around capacity and historical returns on business have left many E&S players seeking opportunities to reap more profitable results across their entire portfolios. As a result, some surplu...

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RISK CONTROL TECHNOLOGIES LAUNCHES SELF-ASSESSMENT MODULE FOR INSURED PORTAL

Jul 17, 2019

Risk Control Technologies, a software developer for insurance companies, has launched the self-assessment module for its own Insured Portal software solution, enhancing the way insurance producers engage with their clients. The Insured Portal is a web portal that provides transparency to policyholde...

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HSBC AND ING ALUM JOINS AVIVA’S BOARD

Jul 17, 2019

Patrick Flynn, whose credentials include serving as chief financial officer at HSBC Insurance and Dutch financial services group ING, has joined the board of Aviva Plc as an independent non-executive director. “I am delighted to welcome Patrick to the Aviva board,” commented chairman Sir...

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‘WE NEED TO THANK OUR MILLENNIALS’ FOR INSURANCE D&I

Jul 16, 2019

Bobbie Goldie describes herself as “one of insurance’s biggest cheerleaders”. She has over 25-years of industry experience across broking, underwriting and claims handling, with particular expertise in cyber liability, professional liability, directors & officers liability, emp...

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SHOCK BRITISH AIRWAYS AND MARRIOTT FINES PUT SPOTLIGHT ON INSURANCE

Jul 16, 2019

Last week it was announced that both British Airways and hotel group Marriott International were to be fined by the Information Commissioner’s Office (ICO) under the GDPR in relation to data breaches. Marriott, a US company, was told it was getting a £99 million fine for an incident in N...

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PRIVATE HEALTH INSURANCE MAKES AUSTRALIA'S SYSTEM UNFAIR AND MUDDLED, REPORT SAYS

Jul 16, 2019

Australia’s health system is unfair and muddled and the prescription for its repair depends on the federal government’s approach to private health insurance. In a paper on private cover, Grattan Institute analysts Dr Stephen Duckett and Kristina Nemet warned the sector faced a death spir...

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INSURANCE TASKFORCE SEEKS FEDERAL BACKSTOP FOR CATASTROPHIC CYBER LOSS

Jul 15, 2019

The cyber insurance industry has grown exponentially in the past decade. As more and more businesses – of all sizes and in every sector – purchase cyber policies, the cyber insurance industry gains stronger and more actionable data insights. One group trying to turn these insights into a...

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EXPERTS CAUTION INSURERS ON LOOPHOLE IN MONTHLY COVERAGE SCHEMES

Jul 15, 2019

Experts have warned insurers about the need to be more transparent about flexible and on-demand products that policyholders pay for on a monthly basis. According to The Telegraph, monthly insurance policies are growing in popularity, with around a fifth of young people having flexible car insurance....

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EXPERT ISSUES WARNING TO INSURERS ON CUSTOMER EXPERIENCE

Jul 15, 2019

Climate change is increasing the frequency and severity of natural disasters such as wildfires, extreme weather, and floods – and a customer service expert has warned insurers of the need to “fine-tune” their customer experience in order to make the claims process as painless as po...

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TRANSACTIONAL RISK INSURANCE USE ON THE INCREASE - MARSH

Jul 12, 2019

The use of transactional risk insurance increased significantly last year, according to a new report from Marsh. Policy limits of more than $1 billion are now available for single transactions, and private equity firms and strategic investors are increasingly turning to insurance to reduce the risks...

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WHEN A HURRICANE STRIKES, SPEED IS PARAMOUNT FOR INSURANCE

Jul 12, 2019

The North Atlantic hurricane season looks set to kick off with a bang. As of Thursday afternoon (July 11), Tropical Storm Barry was barrelling towards Louisiana with the likely prospect of smashing into the Gulf Coast as a hurricane on Saturday. A number of major offshore oil and natural gas product...

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CHARTERED INSURANCE INSTITUTE OUTLINES DIVE IN PARTICIPATION

Jul 12, 2019

This year’s Dive In festival has officially been launched, and the Chartered Insurance Institute (CII) has given a lowdown of its participation in collaboration with local institutes. Dive In, the global festival for diversity and inclusion in insurance, will be in 33 countries for its fifth e...

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BAHRAIN INSURANCE MARKET BEING OVERTAKEN BY NEIGHBOURS

Jul 11, 2019

Bahrain’s re/insurance market is traditionally considered one of the most advanced in the Middle East, but an industry report has revealed that it has already been overtaken by several regional peers. The report from insurance ratings agency AM Best, titled “Bahrain’s Insurance Mar...

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BERKSHIRE HATHAWAY SPECIALTY INSURANCE BRINGS IN COUNTRY MANAGER AS PART OF GERMAN EXPANSION

Jul 11, 2019

Berkshire Hathaway Specialty Insurance (BHSI), which last month made its way to Paris, looks keen on taking it one major city at a time. The Boston-headquartered specialty insurer has expanded further in Germany with a new office and country manager. In addition to its existing operation in Munich w...

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HUB INTERNATIONAL ACQUIRES ASSETS OF COSAINT INSURANCE PARTNERS

Jul 11, 2019

Hub International Limited has acquired the assets of Cosaint Insurance Partners in Conshohocken, PA. Terms of the transaction were not disclosed. According to a release, the principal owners of Cosaint were previously part of Nationwide Mutual Insurance Company’s exclusive distribution model. ...

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HALPERT INSURANCE & FINANCIAL SERVICES JOINS SAN GROUP

Jul 10, 2019

Satellite Agency Network (SAN) Group has revealed that Halpert Insurance & Financial Services has joined the network. Based in Windsor Locks, CT, Halpert is a full-service agency providing all lines of personal and business coverages, in addition to other financial services. Jason Halpert (pictu...

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ALLIANZ-EUROTUNNEL PARTNERSHIP WIDENS

Jul 10, 2019

Allianz Partners, which has been providing travel insurance to customers of Eurotunnel for the last 14 years, has bagged a major contract that widens its longstanding partnership. It’s been announced that Eurotunnel has chosen Allianz Partners UK as its European roadside assistance partner, le...

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THG UNVEILS ACQUISITION OF JAMIESON INSURANCE AGENCY IN VT

Jul 10, 2019

The Hilb Group (THG) has acquired Jamieson Insurance Agency (JIA) in Vermont; the transaction became effective July 01, 2019. JIA is a P&C insurance agency that primarily provides business, auto, and home insurance to clients throughout the state of Vermont. A company release said that Jon Jamie...

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LIONBRIDGE WINS EMPLOYEE ENGAGEMENT AWARD FROM THE CONFERENCE BOARD

Jul 10, 2019

Lionbridge, the world's most trusted global communications platform, is pleased to announce that it has won the Technology division award for Employee Engagement in the Conference Board's Excellence in Marketing & Communications Awards Program. This prestigious program honors organizatio...

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MERCURY INSURANCE AMONG TOP AUTO INSURERS

Jul 09, 2019

Mercury Insurance is celebrating being named one of the top five best auto insurance companies for 2019 by insurance comparison site Insure.com. The annual list was created based on survey responses from more than 3,100 current policyholders who were asked to rate their insurers. Respondents scored ...

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INSURANCE IMPLICATIONS OF ICO’S PROPOSED MULTI-MILLION FINE FOR BRITISH AIRWAYS

Jul 09, 2019

A whopping £183.39 million – or 1.5% of British Airways’ worldwide turnover for the 2017 financial year – is what the airline could be slapped with if it is not able to make the Information Commissioner’s Office (ICO) change its mind about the company’s alleged da...

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PRO GLOBAL LAUNCHES CYBER AUDIT PRACTICE

Jul 09, 2019

Pro Global Holdings, an independent consultancy and service provider, has announced the launch of its cyber audit practice, which was developed to support the insurance industry’s response to cyber risk. The practice is headed by Richard Robertson, Pro Global’s head of information securi...

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/news-article.aspx?ID=20432043

DESJARDINS MEMBERS PETITION TO RECEIVE NEW SOCIAL INSURANCE NUMBERS

Jul 08, 2019

Over 50,000 individuals have signed a petition asking Desjardins Group to issue them new social insurance numbers (SIN).The petition comes not long after Desjardins revealed late last month that an employee with ill-intention leaked the sensitive data of about three million people and businesses onl...

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INSURTECH GROWTH IN CANADA OPENS UP OPPORTUNITIES FOR INSURERS AND BROKERS

Jul 08, 2019

Insurtech hackathons arent all fun and games. On the contrary, insurers in Canada are seeing a ton of value in taking part in these events and getting insight into ideas that participants are bringing to the table, which have the potential to bring benefits to the insurance industry.

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ICA TO HOST INSURANCE CONSULTATIONS AS TOWNSVILLE RECOVERY CONTINUES

Jul 08, 2019

The Insurance Council of Australia (ICA) will host one-on-one consultations as well as an insurance forum for policyholders impacted by the February monsoonal deluge that severely affected many parts of Townsville.

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CA MAN FEDERALLY INDICTED FOR COMPLEX UNEMPLOYMENT INSURANCE SCHEME

Jul 05, 2019

A San Francisco man has pleaded guilty to federal charges related to insurance fraud schemes and will have to pay more than $250,000 in restitution.Kenneth X. Huang, 41, was indicted on six federal charges for insurance fraud and one federal charge of wire fraud. He faces two years in federal prison...

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COWAN INSURANCE GROUP’S GOLF FUNDRAISER BREAKS 2018 RECORD

Jul 05, 2019

Following the conclusion of its annual golf fundraising event, Cowan Insurance Group announced that it has raised enough funds this year to surpass the amount collected during last year’s tournament.The insurer, together with The Cowan Foundation, announced a record $175,000 raised at the 18th...

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LLOYD’S DEMANDS INSURANCE POLICIES BE EXPLICIT ABOUT CYBER COVERAGE

Jul 05, 2019

It looks like silent cyber has become deafening for Lloyds of London, which is now requiring clarity of coverage for cyber exposures in all insurance policies.In a new market bulletin, Lloyds said it believes it is in the best interests of customers, brokers, and syndicates alike for all policies to...

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CII SEEKS INSURING WOMEN’S FUTURES AMBASSADORS

Jul 04, 2019

Women working today should not be worse off than their mothers and grandmothers.
Those were the words of Chartered Insurance Institute (CII) chief executive Sian Fisher (pictured) when she called on more insurance professionals to become Insuring Womens Futures ambassadors.

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INSURANCE COUNCIL WELCOMES IAG VS XU RULING

Jul 04, 2019

A buyer of an earthquake-damaged house with an open insurance claim may not get the original insurer to pay for that damage, according to a new Supreme Court decision on the IAG vs Xu case.

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WHY IS PUBLIC TRUST IN INSURANCE STILL SO LOW?

Jul 03, 2019

Despite a strong push from the government and insurance sector to increase transparency, raise standards and reform contract laws in favour of consumers, a recent Consumer NZ survey found that the relationship between insurers and customers seems to have remained as rocky as ever.
With only 1...

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NEW AI INSURANCE SYSTEM COMES TO LIFE

Jul 03, 2019

Foresight, a pioneering artificial intelligence insurance system jointly created by BLM and the London School of Economics (LSE), has been born. The flagship solution is part of BLM Innovations – a suite of seven online analytics, case management, and communications tools launched ...

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THE KEY CYBER TRENDS KEEPING INSURANCE PROFESSIONALS UP AT NIGHT

Jul 03, 2019

Cybercrime is on the rise, as are the financial impacts on businesses that become victims of cyberattacks, with the Herjavec Group projecting that the global cost of cybercrime will grow to $6 trillion by 2021.In this environment, cyber insurance has become a valuable risk transfer and risk mitigati...

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FIRE ENGINEER CALLS FOR NATIONAL INSURANCE SCHEME

Jul 03, 2019

A veteran fire engineer has called for a national professional indemnity insurance scheme, saying coverage could soon become unfeasible unless action is taken.Ferm Engineering CEO Stephen Burton (pictured) said certifiers, fire engineers and other building industry professionals are being hit with p...

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MARKEL REVEALS LAUNCH OF NEW CYBER POLICY

Jul 02, 2019

The cyber insurance market is becoming increasingly competitive - but now one specialist insurer believes it has formed a truly comprehensive solution that stands out from the crowd.
Markel International has today launched Markel Cyber 360 on a stand-alone and add-on basis for businesses in t...

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BGC INSURANCE GROUP ANNOUNCES CEO FOR NEW AVIATION BROKERAGE

Jul 02, 2019

It looks like BGC Insurance Groups (BGCI) new global aviation and space (re)insurance brokerage will soon be ready for take-off. The new team, which last month welcomed Marsh Aviation and JLT Aerospace alumnus Marcel Chad as its president, will be joined by freshly appointed chief executive Philip S...

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SURA PROFESSIONAL RISKS TAPS GUILD INSURANCE AS NEW SECURITY PARTNER

Jul 02, 2019

Specialist underwriting agency SURA Professional Risks has forged a new security partnership with Guild Insurance, trading as Acerta, for professional indemnity cover across several of its portfolios, including financial planning and accountancy.

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KAUFMAN INSTITUTES LEARNING HUB OPENS ITS E DOORS TO ALL INSURANCE PROFESSIONALS

Jul 01, 2019

After years of offering development and leadership training to its own employees, Kaufman Institute, an H.W. Kaufman Group company, has announced the launch of its educational and professional development learning hub, which will be available to all insurance professionals. Content on the site range...

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GRAND JURY INDICTS GEORGIA COUNTY COMMISSIONER FOR INSURANCE FRAUD

Jul 01, 2019

A county commissioner in Georgia has been indicted by a grand jury for insurance fraud, following a year-long investigation that accused him of taking money from clients of his insurance business. Bob Coleman, an insurance agent and commissioner of Glynn County, Ga., was indicted last week on two co...

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REVEALED: AMERICA’S MOST EXPENSIVE CAR TO INSURE

Jul 01, 2019

Driving a Tesla may save their owners money on gas – but, according to a report, they’ll probably end up using those savings on insurance premiums. A 24/7 Wall Street report found that two Tesla Models – the Tesla Model X Electric 4WD and the Tesla Model S 4dr Electric 4WD – ...

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AND THE INSURANCE PUBLICATION OF THE YEAR IS…

Jun 28, 2019

For the second year in a row Insurance Business UK has won the prestigious (Re)Insurance and Risk Publication of the Year Award at the Willis Towers Watson Media Awards.The awards, which have been running for nearly 15 years, were created to honour excellence in business journalism, particularly in ...

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MANITOBA SAYS IT DID NOT PRESSURE MPI INTO INVOLVING BROKERS IN ONLINE AUTO INSURANCE

Jun 28, 2019

The government of Manitoba is claiming that it did not force Manitoba Public Insurance (MPI) to make insurance brokers handle every online transaction.Internal documents obtained by the Opposition NDP through freedom of information requests revealed that MPI thought that brokers were not required fo...

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THE INSURANCE INDUSTRY'S CHALLENGES ARE ALSO ITS BIGGEST OPPORTUNITIES

Jun 28, 2019

Last month I wrote about the myriad of opportunities that exist within the Australian insurance broker industry, particularly around the use of technology, education of clients and transitioning into a solution-led approach for service delivery. It is equally important for the industry to learn, und...

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THETFORD TOWN COUNCIL DECIDES TO TAKE OUT TERRORISM INSURANCE

Jun 27, 2019

Better have it and not need it than need it and not have it goes the famous saying. This is perhaps what went on in the minds of Thetford councillors when it was decided the town council is taking out terrorism insurance.The insurance provider was not identified but, according toEastern Daily Press,...

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HOW TRADITIONAL INSURANCE BUSINESSES CAN STAY AHEAD AS THE TECHNOLOGY PENDULUM SWINGS

Jun 27, 2019

While the insurance industry might not be full of Amazons and Apples, the state of innovation in the sector isnt anything to scoff at, even outside of the investment in insurtechs that smashed records in Q1 2019.Its really exciting that for an industry thats over 150 years old, weve seen more change...

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TWO MAJOR INSURERS CONFIRM CONTINUED RELATIONSHIP

Jun 27, 2019

Fidelity Life and nib have confirmed their joint quoting and application capabilities will continue, amid reports of cutting ties with each other.In March, both insurers announced a mutual agreement not to continue their relationship once their existing agreement ends on June 30. Now, the insurance ...

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GIG ECONOMY WORKERS STRUGGLE TO FIND INSURANCE THAT MEETS THEIR NEEDS … UNTIL NOW

Jun 26, 2019

The temporary workforce is growing in the Great White North, with Statistics Canada reporting that 2.1 million people were working in temporary jobs in 2018, a 50% increase from 1998. From dog walkers to photographers, pet sitters to music teachers, and tutors to videographers, many Canadians are ta...

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APOLLO INSURANCE SOLUTIONS REVEALS ONLINE MONTHLY SUBSCRIPTION SERVICE FOR SMES

Jun 26, 2019

Apollo Insurance Solutions is launching a monthly small business insurance subscription service - which it claims is an industry first.The subscription service will be made available through the company’s digital broker exchange platform, Apollo Exchange. The platform allows brokers and their ...

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ENHANCED INSURANCE PLATFORM FOR QUICKBOOKS CUSTOMERS IN AUSTRALIA LAUNCHED

Jun 26, 2019

Intuit Australia and Expense Check have upgraded the Expense Check insurance platform to enable accountants and bookkeepers to support their clients who dont have the time, knowledge, or resources to find the right insurance protection through traditional processes.

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INSURERS ON STANDBY AS EVA AIR STRIKE CONTINUES

Jun 25, 2019

Travel insurers are on standby as an ongoing labour strike has forced Taiwans EVA Air to cancel hundreds of flights.According to the Straits Times, more than 640 flights will be cancelled this week, affecting over 100,000 passengers. Flights affected by the strike include destinations in North Ameri...

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EDUCATION KEY TO JUMPSTARTING MALAYSIA’S LIFE INSURANCE INDUSTRY - EXPERT

Jun 25, 2019

The new chief executive officer of the Life Insurance Association of Malaysia (LIAM) believes that channel diversification and consumer education are two ways to increase the stagnant penetration rate of life insurance in Malaysia.In an interview with New Straits Times, LIAM CEO Mark ODell said that...

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'IGNORANCE IS NO EXCUSE' WHEN IT COMES TO TERRORISM INSURANCE

Jun 24, 2019

Terrorism insurance is one policy on the market that could save a client a lot of heartache, yet woefully few people know enough about it.However, according to CEO and managing director of BeechUnderwriting Geoff Stilwell, claiming ignorance of terrorism insurance simply isnt a legitimate excuse any...

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SUN LIFE ASIAN INSURANCE ARM ANNOUNCES RESIGNATION OF CEO

Jun 24, 2019

The CEO of Aditya Birla Sun Life Insurance (ABSLI) has announced his resignation from the position.
ABSLI is a life insurance subsidiary of the Indian corporation Aditya Birla Group, formed as a joint venture with Canadian insurer Sun Life Financial.

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EVEREST INSURANCE AND ASTA PARTNER WITH MEDICAL PROTECTION SOCIETY

Jun 24, 2019

Three is not always a crowd… case in point a new partnership between global insurer Everest Insurance, Lloyds of London third-party managing agency Asta, and mutual organisation Medical Protection Society (MPS).MPS - which protects the careers, reputations, and financial security of over 300,...

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THE TYPE OF INSURANCE 60% OF BRITS DON’T HAVE

Jun 24, 2019

While we may not want to think about death, anyone who has dependents should make life insurance a priority.Those were the words of consumer affairs spokesperson Rachel Wait when MoneySuperMarket released its eye-catching data showing just how much of the British population isnt protected by life in...

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AUTO INSURANCE MARKET IN ALBERTA IS MAKING BROKERS' JOBS 'MUCH MORE DIFFICULT'

Jun 24, 2019

The Insurance Brokers Association of Albertas (IBAA)taskforce focused on finding sustainable solutions for the provinces auto insurance problems is well underway, with a whitepaper planned for release in early July 2019. The report will provide recommendations on changes to the current auto insuranc...

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SUN LIFE INSURANCE ARM ANNOUNCES RESIGNATION OF CEO

Jun 24, 2019

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ONTARIO SENDS INSURANCE EXEC TO LONDON TO DRUM UP BUSINESS IN PROVINCE

Jun 21, 2019

The provincial government of Ontario has chosen an insurance industry executive as one of four people who will be posted overseas to attract investment and grow international trade.Taylor Shields, currently assistant vice president for marketing at Chubb, will be sent to London as an agents-general ...

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AUSTRALIAN INSURTECH ENTERS GLOBAL PARTNERSHIP

Jun 21, 2019

A burgeoning Australian insurtech has secured another major deal this week, making it the official insurance partner for Scandinavias largest travel group.Cover Genius confirmed yesterday that it has entered into a partnership with Etraveli, which will enable the online travel agent to overcome prev...

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ENDSLEIGH INSURANCE SERVICES RELEASES EYE-CATCHING CYBER NUMBERS

Jun 21, 2019

A mere 1% -thats the percentage of independent schools in the UK who feel highly vulnerable when it comes to cybersecurity.A whitepaper released by Endsleigh Insurance Services examined the cyber risks faced by the independent education sector, which has the responsibility of ensuring the security o...

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INSURERS BEGIN CLAIMS SETTLEMENT AFTER CHINA QUAKE

Jun 21, 2019

Insurance companies in China have deployed emergency response procedures for the settlement of claims after a 6.0-magnitude earthquake hit jolted the southwestern province of Sichuan on June 17.
These measures include setting up a 24-hour hotline for claims settlement, seeking out customers, ...

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AIG UNIFIES REINSURANCE OPERATIONS – NAMES CEO

Jun 20, 2019

American International Group, Inc. (AIG) has announced the consolidation of its reinsurance operations into a single entity, called AIG Re. The new unit brings Validus Re, AlphaCat and Talbot Treaty into one global business.Heading up AIG Re will be Christopher Schaper, who will take the CEO reins o...

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STUDY EXPLORES EXPANSION OF AUSTRALIA'S TERRORISM INSURANCE SCHEME

Jun 20, 2019

The Morrison government is mulling the expansion of Australias terrorism insurance scheme to cover cyber terrorist attacks.According to an auditor-general report released on Wednesday, the Australian Reinsurance Pool Corporation had tapped the Organisation for Economic Co-operation and Development (...

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PROVINCE INCHES ONE STEP CLOSER TO SCRAPPING AUTO INSURANCE TAX

Jun 20, 2019

The province of Newfoundland and Labrador has inched one step closer to scrapping tax on auto insurance after legislators introduced a proposed amendment to the Revenue Administration Act.
The amendment, which is yet to be passed, was presented by Finance Minister Tom Osborne in the House of ...

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INSURERS MUST ENABLE PEOPLE TO MAKE CHOICES AROUND CAT RISK

Jun 20, 2019

As the population of the planet slowly tips from being non-urban to urban, our cities are growing faster than ever. More people now live in cities than outside them, and the demand for socio-economic hubs is accelerating every year. The biggest urban growth in the next quarter-century is expected to...

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K&R INSURANCE SPECIALIST CLEMENTS WORLDWIDE SEES RISE IN ‘EXPRESS KIDNAPPINGS’

Jun 19, 2019

South African photojournalist Shiraaz Mohamed was abducted in Syria in early 2017. After two years, his captors sent a video to the NGO Gift of Givers, showing Mohamed fearing for his life and asking the international community for help securing his release. In the video, dated April 13, 2019, a man...

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WHY KIDNAP AND RANSOM INSURANCE IS GETTING A NEW NAME

Jun 19, 2019

If you were buying a policy called kidnap and ransom insurance it probably sounds pretty straightforward as to what it will cover - kidnaps and the ransoms needed to secure a safe return.
However, that is not always the case. In many cases kidnap and ransom insurance products (or K&R as i...

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COVÉA INSURANCE ROLLS OUT NEW E-TRADE OFFERING

Jun 19, 2019

The UK underwriting business of French mutual insurance group Covéa has given its commercial lines proposition a boost.Covéa Insurance has rolled out an all-risks commercial combined product designed to be traded electronically either via Acturis or through the insurers extranet site. ...

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WILLIS TOWERS WATSON BOOSTS INSURANCE INVESTMENT SOLUTIONS GROUP

Jun 19, 2019

London-based Gareth Sutcliffe has made the switch from EY to Willis Towers Watson.
Appointed as head of the broking giants insurance investment solutions group (IISG), Sutcliffe brings more than 17 years of industry experience to the role. His previous remit involved advising insurers on priv...

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AGENCIES SEE GROWTH IN CONTENT MARKETING BUSINESS

Jun 19, 2019

Agencies are banking on content marketing. That’s the key finding in the newly released Content Marketing Institute 2019 Agency Survey. This inaugural research looks at how full-scope agencies, as well as specialized agencies, are doing content marketing for clients, how well it’s workin...

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KIER GROUP PROVIDES UPDATE ON DEBTS AMID CREDIT INSURANCE TROUBLE

Jun 18, 2019

Kier understands that certain suppliers have experienced a reduction in the level of trade credit insurance available to them Kier is working with those suppliers to mitigate the impact of this.
That was the offer of assurance from the British infrastructure, buildings, developments, and hous...

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AXA XL BOOSTS ENVIRONMENTAL INSURANCE POLICY

Jun 18, 2019

AXA XL has announced the addition of supplemental coverage to its pollution and remediation legal liability (PARLL) policy in North America.The supplemental coverage provides added protection to owners, operators, and developers of fixed facilities against loss, remediation expense, and legal defens...

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GALLAGHER DIVULGES THE WORST ADVICE ABOUT BUSINESS INSURANCE

Jun 18, 2019

Gallagher has rounded up the worst pieces of advice about business insurance, as it urged Australians to find legitimate information as well as get the help of an insurance expert for their business insurance needs.One bad advice tells people You dont need business insurance if you work from home. M...

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CANTERBURY EARTHQUAKES INSURANCE TRIBUNAL LAUNCHES

Jun 18, 2019

he special insurance tribunal that will see the resolution of outstanding insurance claims arising from the 2010 and 2011 Canterbury earthquakes has officially launched.The Canterbury Earthquakes Insurance Tribunal will be a circuit-breaker for ongoing insurance disputes, according to Justice Minist...

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WHICH CHARITIES ARE INSURANCE BROKERS MOST LIKELY TO SUPPORT?

Jun 17, 2019

Insurance brokers are a pretty good-natured lot, often offering their support to community causes. But which charities have captured their hearts the most?According to new research by Ecclesiastical, it seems health charities are those most dear to brokers with just shy of a third - 30% - more likel...

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FOR INSURERS, STAYING IN CONSUMERS' GOOD GRACES MEANS PUTTING THEM FIRST

Jun 17, 2019

Winning consumers trust can be tricky for insurers. According to Accenture, insurance companies score significantly lower than banks on the trust index, with only 29% of customers trusting insurers, versus 40% for banks. Competitive pricing and advice that helps people live safer lives are two ways ...

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DRIVING VALUE FROM AI IN INSURANCE: DELIVERING SUCCESS WITH SUN LIFE AND SCOTIABANK

Jun 17, 2019

Much discussed, yet often misunderstood, its clear that Artificial Intelligence is set to dominate the global Insurance sector for the foreseeable future - and Canada is no different. Despite being a somewhat nascent discipline within insurance, progress in silicon centres across the nation mean car...

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AVIVA BOSS TO TAKE PLACE ON INSURANCE THINK TANK’S BOARD

Jun 17, 2019

The Geneva Association has named four new board members, including Aviva Plc chief executive Maurice Tulloch.An announcement by the global organisation of insurance and reinsurance chief executive officers outlined that Tulloch as well as Ping An Insurance Company of China co-CEO Yuansiong Lee, Prud...

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AGCS INTRODUCES GLOBAL HEADS OF MARINE AND AVIATION

Jun 14, 2019

Allianz Global Corporate & Specialty (AGCS) has announced the appointment of Ulrich Kadow as global head of marine and Tom Fadden as global head of aviation. The dual appointments are effective July 01 and both will report directly to chief underwriting officer specialty Paul ONeill, who will ov...

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WAWANESA INSURANCE PLANS NEW HQ IN DOWNTOWN WINNIPEG

Jun 14, 2019

Wawanesa Mutual Insurance Company has announced that it is building its new North American headquarters in True North Square in downtown Winnipeg.The insurer is partnering with True North Real Estate Development (TNRED) to build its new purpose-built office headquarters at the southwest corner of Ca...

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INSURANCE NOT SITTING BACK ON GENDER EQUALITY

Jun 14, 2019

One of the most senior figures within IAG has admitted that significant barriers remain when it comes to gender equality - but she’s also confident the industry is doing a lot to overcome them.
Overall, I think gender equality, particularly at a senior level, continues to be a challenge...

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HUDDLE INSURANCE LAUNCHES NEW COVER FOR A UNIQUELY AUSTRALIAN PROBLEM

Jun 14, 2019

Huddle Insurance has introduced a new cover to protect motorists against a uniquely Australian problem.The new policy was launched following the company’s Roo Report, which revealed that more than 7,000 Australian drivers made insurance claims relating to kangaroo collisions per year, costing ...

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QUEBEC MUTUAL INSURANCE FIRMS ANNOUNCE PLANS TO MERGE

Jun 13, 2019

La Capitale General Insurance and LEDOR Assurances have announced plans to merge their two businesses by 2020.

In a statement, the two companies said that an amalgamation will enable them to meet the challenges associated with Quebec’s very competitive property and casualty insu...

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INSURER CONTINUES ITS SPONSORSHIP OF IBAC ADVERTISING CAMPAIGN

Jun 12, 2019

The Insurance Brokers Association of Canada (IBAC) has announced that Saskatchewan Mutual Insurance (SMI) has continued its sponsorship of the organization’s Broker Identity Program (BIP) national advertising campaign.In a statement, IBAC said that SMI will continue its sponsorship of the camp...

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HOW THE INSURANCE INDUSTRY IS ‘DOING GOOD’ IN COMMUNITIES

Jun 12, 2019

Insurance companies today do a lot more for their communities than just providing risk mitigation and risk transfer products and services. According to the Insurance Industry Charitable Foundation (IICF), many agencies provide volunteer days where staff contribute to a service project for a local no...

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INSURANCE AND REINSURANCE LEGACY ASSOCIATION RAISES OVER £11,000 FOR MIND

Jun 12, 2019

Mental health charity Mind, which last month gained financial support from Broker Network, has been provided further monetary backing… this time its the turn of the Insurance and Reinsurance Legacy Association (IRLA) to help out.Taking place during the IRLA Congress in Brighton, the fundraise...

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BROKERS REVEAL AUSTRALIA'S BEST INSURERS

Jun 12, 2019

The relationship between brokers and insurers can be strained at the best of times, with common complaints ranging from poor response times to questionable ethics.However, when insurers get things right, brokers are quick to give positive feedback and often share stories of their experience with pee...

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INSURANCE AGENCY LAUNCHES NEW WEBSITE FOR MILLENNIALS

Jun 11, 2019

Atlanta-based insurance agency InsuranceHub has launched a new website designed for millennials and young entrepreneurs.The insurance agency’s insuranceTL;DR website was created to provide faster answers to an increasingly mobile segment of society, eschewing stock photos and imagery with shor...

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BILL TO RESTORE DOUBLE HEALTH INSURANCE SAILING THROUGH LEGISLATURE

Jun 09, 2019

A union-backed effort to restore double health insurance coverage for couples both employed by the government has picked up steam.Unions and school district administrators had loudly protested a 2017 health care cost reduction package that lawmakers touted as a $178 million savings measure a f...

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WHAT INSURANCE CAN LEARN FROM OTHER FINANCIAL SERVICES SECTORS

Jun 07, 2019

As an industry, insurance often faces the same diversity and inclusion issues as the wider financial services sector therefore, exchanging ideas across various industries within the ‘family’ can be a valuable experience.As the industry gears up for this year’s Women in Insura...

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APOLLO INSURANCE ROLLS OUT ONLINE BROKER EXCHANGE PLATFORM

Jun 07, 2019

Apollo Insurance Solutions has launched a new digital tool to help individual brokers and brokerages.
Called the Apollo Exchange, the platform enables a digital insurance binding experience while significantly reducing the time a broker spends on paperwork. Any broker can sign up to use the p...

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ANSVAR UPGRADES ITS INSURANCE PLATFORM

Jun 06, 2019

Specialist insurer Ansvar has made a deal with SSP for an as-a-service platform to run its core business, with the initial implementation set to be completed by the end of this year.
Ansvar is upgrading from SSP’s Insure/90 platform to SSP Digital Insurance, a browser-based platform, wh...

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COURT OF APPEAL RULES AGAINST MOTOR INSURERS' BUREAU – INDUSTRY REACTS

Jun 06, 2019

Last September Mr Justice Soole of the Queens Bench Division of the High Court found the Motor Insurers’ Bureau (MIB) liable to compensate a claimant who suffered injuries following an incident on private land. Now the England and Wales Court of Appeal has upheld the decision.In the UK, the MI...

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INSURTECH VETERAN MAKES THE SWITCH TO BOUGHT BY MANY

Jun 06, 2019

A familiar face in the insurtech world has become the first chief commercial officer (CCO) at peer-to-peer insurtech Bought By Many.The key recruit, Charlotte Halkett (pictured), left buzzvault in April after serving as managing director of insurance product. Halkett was part of the original start-u...

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INSURANCE PLATFORMS HAVE TO SIMPLIFY BEFORE MOVING TOWARDS THE SHINY NEW FUTURE

Jun 05, 2019

Divesting, or the selling off of distressed assets and businesses, has picked up steam since the 2008 financial crisis, though a recent report shows the drivers pushing companies to divest are no longer mandatory state aid regulations. Instead, companies need to strategically divest in order to rema...

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LEADING EUROPEAN ANALYST FIRM OVUM NAMES MADISON LOGIC A “LEADER” IN THEIR REPORT ON ACCOUNT BASED MARKETING

Jun 05, 2019

Madison Logic, the leading global account-based marketing (ABM) platform, today announced that Ovum, a market-leading data, research and consulting business headquartered in the U.K., named Madison Logic a “Leader” in the Ovum Market Radar: Account-Based Marketing report. Ovum recognized...

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D&I IN INSURANCE HAS TO COME FROM THE TOP

Jun 04, 2019

Engagement and support from company leadership is critical in achieving true diversity and inclusion (D&I) in the insurance sector. Awareness of D&I in the insurance workplace is the highest it has ever been, but, in order for that awareness to filter down into organizational practices, mean...

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GREAT-WEST LIFECO CLOSES SALE OF US INDIVIDUAL LIFE INSURANCE, ANNUITY BUSINESSES

Jun 04, 2019

Great-West Lifeco has announced that its Colorado-based subsidiary - Great-West Life & Annuity Insurance Company (GWL&A) - has completed the sale (via reinsurance) of all its individual life insurance and annuity business to Protective Life Insurance Company, itself a subsidiary of Protectiv...

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A BRIEF GUIDE TO FACULTATIVE AND TREATY REINSURANCE

Jun 03, 2019

Reinsurance is often described as insurance for insurance companies. Its a way for insurance companies to transfer some of the financial risk they assume when issuing insurance policies. They do this by ceding some of their risk to another insurance company, the reinsurer. This protects traditional ...

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POLL REVEALS REASONS FOR NOT BUYING TERRORISM INSURANCE

Jun 03, 2019

Right at the core of an insurance brokers remit is showing prospective policyholders the need for coverage - in other words, letting them know why they should go ahead and buy. Now a survey commissioned by terrorism reinsurer Pool Re has shone a spotlight on the other side of the equation, revealing...

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HOBBS ASSOCIATES NOW PART OF TASKER INSURANCE GROUP

Jun 03, 2019

Tasker Insurance Group (TIG) has made its second swoop of the year.
Hobbs Broking Limited, which trades as Hobbs Associates, is now part of TIG - specifically of the specialist retail broking division within the group’s retail business Tasker Insurance Brokers (TIB).
The now comp...

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SEARS WORKERS CALL FOR PROTECTION OVER INSURANCE

Jun 03, 2019

A group of retired Sears Holdings Corp. workers have asked for the creation of a committee to protect their interests as a retiree died shortly after his life insurance was canceled.Lawyers for the retired workers say the bankrupt retailer has wrongly terminated the life insurance policies for tens ...

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MERCURY INSURANCE NAMED ONE OF AMERICA’S TOP MID-SIZED EMPLOYERS

May 31, 2019

Mercury Insurance has been named one of Americas best mid-sized employers for the third consecutive year by Forbes magazine.To compile its annual Americas Best Mid-size Employerslist, Forbes partnered with research company Statista to survey 50,000 people working at companies of at least 1,000 emplo...

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THE UNTAPPED AREA THAT MANY INSURANCE BROKERS DON’T KNOW ABOUT

May 31, 2019

When you say that you expect your business to grow by up to 40% in the next two years, after already enjoying significant growth, that’s a pretty bold statement to make.But Tom O’Connor (pictured), CEO of CLS Risk Solutions, is fairly confident that he can make that call.
We now t...

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EXEC POINTS TO “SURPRISING” MOTOR INSURANCE CLAIMS DATA

May 31, 2019

Surprising is how the Association of Consumer Support Organisations (ACSO) describes the rise in the number of motor insurance claims registered with the Compensation Recovery Unit (CRU).
Citing data from the CRU, ACSO noted how the latest figure went up to 660,608 from the 650,019 motor case...

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WHY MITIGATING CYBER RISK NEEDS TO START FROM THE TOP IN AUSTRALIA’S INSURANCE SECTOR

May 30, 2019

Around the globe, cyber-security threats are real and rising and Australias insurance sector is far from immune.Maintaining effective defences has become a strategic challenge for insurers and insurance brokerages around the country.Australias general insurance industry is worth $63 billion a year a...

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INSURERS IN ‘POSITION OF STRENGTH’

May 30, 2019

Despite inevitable ramifications from the Royal Commission, it seems Australian consumers havent completely lost trust in their insurers- particularly when it comes to personal data.Accenture’s global Financial Services Consumer Study found that 79% of Australian consumers trust their main ins...

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INSURANCE PROFESSIONALS URGED TO PARTICIPATE IN RESEARCH ON UNCONSCIOUS BIAS

May 30, 2019

Insurance professionals are urged to support the research on unconscious bias in Australian and New Zealand organisations, commissioned to Jennifer Whelan, founding director of Psynapse Psychometrics, by participating in an online survey.Findings will be presented at the fifth Dive In Festival, to b...

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SKIPTON BUILDING SOCIETY TAPS AIG AS INSURANCE PROVIDER

May 29, 2019

AIG Life Limited has bagged another insurance deal - this time with Skipton Building Society.
Citing the insurer’s flexible seven-minute application process as well as its human approach and empathy towards policyholders, Skipton Building Society has chosen AIG Life to provide life and ...

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PHILIP MORRIS-OWNED LIFE INSURANCE DISTRIBUTOR RAMPS UP DESPITE CRITICISMS

May 29, 2019

Where will Philip Morris diversify next -perhaps into funeral homes, with Marlboro-branded coffins? was the rhetorical question posed by Campaign for Tobacco-Free Kids president Matthew Myers in April when the cigarette giant entered the world of UK coverage via its life insurance distributor Reviti...

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27-YEAR-OLD SEARCH MARKETING CEO LANDS 13-STOP U.S. SPEAKING TOUR

May 29, 2019

Garrett Mehrguth, the CEO and co-founder of the B2B and enterprise search marketing agency, Directive, recently was selected to speak at 13 stops of the Digital Summit tour. Digital Summit, the largest conference series in the digital marketing industry, has invited Mehrguth to share his unique pres...

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THE CORN CROP INSURANCE DATE LOOMS AS WET WEATHER CONTINUES TO STALL PLANTING

May 28, 2019

June 5 is the last corn plant date for Ohio producers to have full coverage on their crop insurance in place for 2019. After June 5, producers will lose 1% of coverage each day for corn planted after this date. The late plant period for corn will end on June 25. Much talk has already taken place in ...

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IF SOUTH PARK CHARACTERS APPLIED FOR LIFE INSURANCE POLICIES...

May 28, 2019

South Park is coming to the end of its 23-season run, with the series finale scheduled for later this year.It may come as a shocker to many, including myself, that it’s still going strong.Since 1997, we’ve watched the characters in the South Park universe reflect human nature, which mean...

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RAIN PUTS FARMERS ON INSURANCE DEADLINE WATCH

May 28, 2019

Kansas farmer Mark Nelson had until Saturday to plant his corn or lose the insurance that protects him from a drop in prices or yield. Instead, he’s hopping on a plane to visit his father in Chicago.
Nelson is now considering a different type of insurance coverage known as prevented-pla...

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THIS HEALTH INSURANCE COMPANY TRACKS CUSTOMERS' EXERCISE AND EATING HABITS USING BIG DATA AND IOT

May 27, 2019

If you had the chance to lower your health insurance premiums or to receive incentives for behaving healthily, would you do it? Vitality Health is counting on your answer being yes. The company believes the way to revolutionize healthcare is to pay for wellness rather than pay for sickness as tradit...

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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...

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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...

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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...

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FOUR INSURANCE BROKERS GIVEN SUBPOENAS IN MAJOR US INVESTIGATION

May 24, 2019

The New York State Department of Financial Services (NYDFS) has issued subpoenas to four insurance brokers as part of an investigation into pension risk transfer deals.The subpoenas were issued Wednesday to units of Morgan Stanley, Aon, Willis Towers Watson, and Mercer – a Marsh & McLennan...

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WORLD RUGBY REVAMPS RULES ON PLAYER INSURANCE

May 24, 2019

With players’ welfare top of mind for World Rugby, the governing body has now amended its rules when it comes to compensating players hit with injuries while on international duty.Effective July 01, the revised regulations will see the financial cap on a union’s liability for player rele...

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SWISS RE REVEALS EMERGING RISKS IN INSURANCE, SOCIETY

May 24, 2019

Swiss Re Institute has released its 2019 SONAR report offering insights into emerging risks, as well as highlighting a number of emerging trends.It identified developing risks that are difficult to quantify but could potentially have a significant impact on the industry and society. These include th...

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6SENSE LAUNCHES ACCOUNT-BASED EXTERNAL MEDIA CAMPAIGNS ANALYTICS

May 23, 2019

Today 6sense, a leading Account Based Orchestration Platform, powered by AI, announced its External Media Campaigns feature. This capability extends 6sense's ability to track digital media campaigns launched on non-6sense platforms for use in account segmentation within the 6sense platform, and ...

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6SENSE LAUNCHES ACCOUNT-BASED EXTERNAL MEDIA CAMPAIGNS ANALYTICS

May 23, 2019

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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...

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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 ...

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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...

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/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, ...

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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...

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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...

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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 ...

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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...

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VALUED POLICY LAW AND TOTAL LOSS

May 21, 2019

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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...

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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...

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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 ...

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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...

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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...

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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 ...

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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...

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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 ...

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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, ...

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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...

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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...

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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...

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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...

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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...

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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 ...

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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 ...

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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...

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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...

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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, ...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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 ...

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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.
...

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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...

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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...

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MADISON LOGIC UNVEILS NEW DATA CLOUD TO ACCELERATE ABM FOR B2B ORGANIZATIONS GLOBALLY

May 06, 2019

Madison Logic, the leading global account-based marketing (ABM) platform, today announces the launch of the ML Data Cloud, powering cutting-edge ABM to accelerate your pipeline and convert your best accounts faster. With state-of-the-art architecture, rich data, and a robust data gateway, the ML Dat...

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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...

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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 ...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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, ...

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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...

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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...

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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...

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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 ...

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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...

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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...

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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...

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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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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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6SENSE EXPANDS INTEGRATION WITH HUBSPOT FOR HEIGHTENED ACCOUNT BASED ORCHESTRATION

Apr 25, 2019

6sense, a leading Account Based Orchestration Platform, powered by AI, announced $27 million in funding. The round was led by Industry Ventures and included participation from existing investors Bain Capital Ventures, Battery Ventures, Costanoa Ventures, Salesforce Ventures, and Venrock. “We b...

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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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LIONBRIDGE AGAIN NAMED ONE OF AMERICA'S BEST EMPLOYERS BY FORBES

Apr 17, 2019

Lionbridge Technologies is proud to announce it has again been named one of America's Best Employers by Forbes, which also recognized Lionbridge as a Best Employer for Women in 2018. The 2019 list recognizes organizations across a variety of industries that employ more than 1,000 people in the U...

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6SENSE SECURES $27 MILLION TO ADVANCE BOLD VISION IN B2B AND ABM

Apr 16, 2019

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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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...

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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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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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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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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...

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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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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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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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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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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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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...

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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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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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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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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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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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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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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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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...

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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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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...

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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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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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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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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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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...

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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...

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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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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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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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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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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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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...

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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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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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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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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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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...

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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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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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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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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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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...

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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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...

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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...

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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...

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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...

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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 ...

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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...

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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...

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6SENSE ANNOUNCES SALESFORCE PARDOT INTEGRATION FOR REVENUE TEAMS TO LAUNCH COMPREHENSIVE ABM PROGRAMS

Mar 14, 2019

6sense, a leading Account Based Orchestration Platform, powered by AI, extends its relationship with Salesforce to include an all-new integration with Pardot, Salesforce’s marketing automation solution. This integration combines marketing execution from Salesforce Pardot with the time-based predicti...

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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 ...

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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...

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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 ...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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 ...

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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...

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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...

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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...

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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...

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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...

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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 ...

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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...

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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...

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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 ...

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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...

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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, ...

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/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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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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/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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/news-article.aspx?ID=13981398

DIRECTIVE RANKS #1 IN CLUTCH’S TOP B2B MARKETING SERVICE PROVIDERS

Mar 06, 2019

Directive, the leading B2B and enterprise search marketing agency, has recently been honored as the number one B2B marketing and advertising service provider in Los Angeles, according to Clutch. Clutch is a B2B research, ratings and reviews site that identifies leading IT and marketing service provi...

SOURCE
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/news-article.aspx?ID=19821982

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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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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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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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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/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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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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/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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/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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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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/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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/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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/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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/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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/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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/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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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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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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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/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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/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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/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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/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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/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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/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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/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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/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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/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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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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/news-article.aspx?ID=11931193

NEW RESEARCH PULLS BACK THE CURTAIN ON ENTERPRISE CONTENT MARKETING IN 2019

Feb 07, 2019

With thousands of employees, working across multiple brands, products lines, offices and silos, enterprise marketers face unique content marketing challenges, yet many are scoring wins year after year. That’s according to the findings in the Content Marketing Institute’s new research rep...

SOURCE
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/news-article.aspx?ID=21502150

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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/news-article.aspx?ID=11531153

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

Jan 31, 2019

APRIL CANADA
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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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/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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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LIONBRIDGE AUGMENTS ARTIFICIAL INTELLIGENCE OFFERING THROUGH ACQUISITION OF GENGO AND GENGO.AI

Jan 16, 2019

Today, Lionbridge, one of the world’s most trusted global communications platforms, announced its acquisition of Gengo, a Tokyo-based, leading edge technology company providing crowdsourcing, machine learning and localization services to global customers. Lionbridge has a 20-year history of le...

SOURCE
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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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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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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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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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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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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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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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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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/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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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/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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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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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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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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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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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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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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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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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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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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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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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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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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/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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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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/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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/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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/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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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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/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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/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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/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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/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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/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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/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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/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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/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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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
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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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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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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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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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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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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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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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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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ORLANDO HOMEOWNERS ALLEGE INSURER FAILED TO PAY FOR WATER DAMAGE

Dec 13, 2018

AMERICAN STRATEGIC INSURANCE CORP
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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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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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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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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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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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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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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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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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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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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...