Insurance
Residents in Louisiana City Still Recovering From 2020 Hurricanes
LAKE CHARLES, La. (AP) — Every other day Lois Malvo waits for her son to bring six buckets of water from a spigot in the backyard. He then bathes his 78-year-old mother using water heated on the stove and washes …
Read More Texas-Based Insurtech Sigo Seguros Raises $5.1M in Pre-Series A Funding
Sigo Seguros, a Texas-based insurtech company that focuses on providing auto insurance services for immigrant and working-class communities, announced it has raised an additional $5.1 million in its pre-Series A funding round. The investment round was co-led by Zeal Capital …
Read More Catalyit, Big I Partner on Tech-Adoption Support for Independent Agents
Catalyit, an insurance technology hub for independent insurance agents, is partnering with the Independent Insurance Agents & Brokers of America, Inc. (the Big “I”) to support independent insurance agents in selecting, implementing and optimizing the right technologies for their agencies. …
Read More People Moves: Melvin Names CEO of BMS Re US; Rawal Joins AXA XL as CUO Middle Market, Canada; QBE Canada Hires Fenn as Multinational Underwriting Manager
Melvin Appointed President and CEO, BMS Re, US BMS Re, the specialty reinsurance arm of global broker BMS Group headquartered in New York City, appointed Brad Melvin president and chief executive officer, BMS Re, U.S., effective November. Melvin will lead …
Read More Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers
The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant threats posed by aggregation risk, and the …
Read More NHTSA Proposes New Vehicle Requirement to Reduce Pedestrian Deaths
A U.S. regulator said on Monday it is proposing a requirement that some future vehicles be redesigned to reduce the risks of serious or fatal injuries in crashes involving pedestrians amid a rise in such deaths. The National Highway Traffic …
Read More ‘Dr. Taxes’ in Georgia Charged with Taking Workers’ Comp Premiums from Clients
A businessman in south Georgia who called his business a tax preparation site for immigrants is now facing multiple charges that he swindled clients out of thousands of dollars in workers’ compensation insurance premiums. Emmanuel Torres Cruz, 34, was arrested …
Read More Markets/Coverages: PURE Heads to Canada to Cover HNW Homes
Privilege Underwriters Reciprocal Exchange (PURE) is for the first time going international with an expansion into Canada. The reciprocal exchange will start serving high net worth clients in Ontario with homeowners insurance through select brokers. Future products include automobile coverage …
Read More Tropical Storm Francine Strengthens, Spurring Oil Shutdowns
Tropical Storm Francine strengthened as it moved north in the Gulf of Mexico, prompting oil drillers to evacuate crews and halt some offshore crude production, while the US Coast Guard warned shippers of approaching gale-force winds. Francine is expected to …
Read More People Moves: Panos to Head Risk Strategies’ Chicago Office
Risk Strategies, headquartered in Boston, appointed Tom Panos as managing director of its Chicago office. Panos has over 15 years of experience in the insurance industry. He joined The Baldwin Group through its acquisition of Rosenthal Brothers in 2008 when …
Read More