Insurance
New York Updates Financial Services Cybersecurity Regulation to Address AI Risks
The New York Department of Financial Services (DFS) has issued new guidance to assist the more than 3,000 firms including insurers it regulates in addressing cybersecurity risks arising from artificial intelligence (AI). In a letter to letter companies, DFS Superintendent …
Read More HCI Group Expects to Pay $600M to $750M in Claims from Recent Hurricanes
Publicly traded HCI Group, the Tampa-based holding company for Homeowners Choice Property & Casualty, TypTap and a new condominium insurance reciprocal, is one of the first insurers to report estimated losses after recent hurricanes. HCI said in a statement Wednesday …
Read More Multi-Class MGA, Carrow Insurance, Is Launched, With Former AmTrust Exec at Helm
Mission Underwriters, the MGA incubator, announced the launch of Carrow Insurance, under the leadership of Ronan Conboy, the former CEO of AmTrust International. Carrow is set to focus on warranty, accident & health, and income protection products in the UK …
Read More People Moves: LM Re Taps Vantage Risk’s Sweeney as Specialty Casualty Underwriting Mgr; Marsh Promotes Thomas-Ferrand to Lead Captive Insurance as Charnley Retires
This edition of International People Moves details appointments at Liberty Mutual Reinsurance and Marsh. A summary of these new hires follows here. LM Re Taps Vantage Risk’s Sweeney as Specialty Casualty Underwriting Manager Liberty Mutual Reinsurance (LM Re), part of …
Read More Aon’s NFP Acquires Irish Financial, Benefits and Insurance Advisory Firm
NFP, an Aon company and insurance brokerage, announced it has acquired IHI Group, the Dublin-based advisory firm that specializes in financial planning, healthcare and general insurance needs. Philip Brennan, CEO of IHI Group, will join NFP as VP business development, …
Read More AXA Rebrands China Reinsurance Unit to ‘AXA International Re’
AXA Insurance announced it has rebranded its Chinese reinsurance unit, XL Re China, to AXA International Re. The name change took effect on Oct. 16, 2024, following approval from the Chinese regulator, the National Financial Regulatory Administration The move follows …
Read More Insurtech on the Silicon Prairie to be Held in Omaha
The Nebraska Department of Insurance shared that Insurtech on the Silicon Prairie will take place in Omaha on Oct. 28-29, with topics including AI, autonomous vehicles, cybersecurity, venture capital, the role of AI in operations. This is the second year …
Read More Climate Change Causes 379% Hike in Insured Damages in Canada Over 10 Years: Report
The annual average insurable losses in the last decade increased in Canada by a whopping 379%, when compared to the prior 30-year average, according to an analysis from MyChoice, a Toronto-based insurtech company. The report pointed to statistics from the …
Read More Michigan to Pay $13M After Shooter Drill Terrified Psychiatric Hospital for Kids
DETROIT (AP) — A judge has approved a $13 million settlement in a lawsuit over an unannounced active shooter drill at a Michigan psychiatric hospital for children, an event that terrified kids and staff and caused them to scramble for …
Read More Britain’s Young Drivers Should Face Stricter Rules, Says CEO of AA Breakdown Service
Young British drivers who have just passed their test should be banned from carrying passengers of a similar age and should display special plates, according to the chief executive officer of the AA car breakdown service. The measures, proposed by …
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