Insurance
Swiss Re Buys Cyber Market’s 1st Retrocession ILW, Brokered by Gallagher Re
Swiss Re has purchased the cyber market’s first retrocession industry loss warranty (ILW), brokered by Gallagher Re and supported by a number of specialist reinsurers. Swiss Re secured $50 million of catastrophic US cyber insurance event protection, including cover against …
Read More Shell’s Appeal of Landmark Climate Ruling to Begin in April
Shell Plc’s appeal against a landmark ruling that ordered the oil and gas giant to cut its carbon emissions by 45% over the next decade will begin in April. The London-based oil and gas giant is seeking to reverse what …
Read More Hezbollah, Russia-Linked Hackers Step Up Cyberattacks on Israel: Cybersecurity Firm
The Iran-backed Hezbollah militant group in Lebanon and Russia-linked hackers have stepped up cyberattacks against Israel since the war with Hamas began, according to the chief technology officer of Israel-founded cybersecurity company Check Point Software Technologies Ltd. “While a lot …
Read More Insurers Seek to Exclude US, UK Ships From Red Sea Coverage
Some ship insurers are starting to avoid covering US and UK merchant ships against war risks when they navigate the southern Red Sea, another sign of blowback since the two nations’ airstrikes on Yemen last week. Houthi militants have stepped …
Read More People Moves: Guy Carpenter Appoints Wolfe Chief Commercial Officer, North America; Verisk Forms Claims Advisory Board; DUAL Names Chamberlain Head of Specialty Healthcare
Guy Carpenter appointed Keith Wolfe to the newly created role of chief commercial officer, North America, effective immediately. Wolfe joins Guy Carpenter after 27 years with Swiss Re and its predecessor companies, where he held several leadership positions, most recently …
Read More Cyber Threats Top Global Business Risk Concern for 2024: Allianz
Cyber-related incidents such as ransomware attacks, data breaches and IT disruptions are the biggest worry for companies globally in 2024, according to the Allianz Risk Barometer. Business interruption ranked second, while natural catastrophes ranked third (up from #6) on business’ …
Read More Insurtech Foxquilt Announces Capacity Partnership With Markel
Foxquilt, a digital managing general agent specializing in embedded small business insurance technology, announced a strategic and long-term capacity relationship with global specialty insurance provider, Markel. Foxquilt said it utilizes a full-stack underwriting platform, powered by data analytics, to recommend …
Read More As DEI Comes Under Legal Attack, Companies Alter Their Programs
Sophia Danner-Okotie’s has ambitious plans for her Nigerian-inspired clothing line but a sense of dread has punctured her optimism as she watches a legal battle being waged against a small venture capital firm that has provided funding instrumental to her …
Read More Allstate Doesn’t Owe for Diminished Value, But Farm Bureau Barred from Subro, Courts Say
Two court rulings in Southeastern states have underscored insurers’ responsibilities under uninsured motorist laws. In a Mississippi class-action lawsuit, the U.S. 5th Circuit Court of Appeals found that Allstate Property & Casualty Insurance Co. had not violated state law by …
Read More California Has Lowest Number of Fire Departments Per 100K People, Report Shows
California topped the ranking for the states with the fewest fire departments per 100,000 people, a new study shows. The study out this week shows California tied with Florida, and Nevada ranking second and Arizona ranking third. The report, commissioned …
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