Insurance
Horseshoe Beach Hopes to Rebuild After Idalia, But Most Had No Flood Insurance
HORSESHOE BEACH, Fla. (AP) — This remote seaside enclave known as “Florida`s Last Frontier” took much of the pounding from Hurricane Idalia when it struck the state`s west coast as a Category 3 storm last week. The damage left behind …
Read More Arthur J. Gallagher & Co. Buys UK-Based Lifesure Group Ltd.
Arthur J. Gallagher & Co. announced the acquisition of UK-based Lifesure Group Ltd. Terms of the transaction were not disclosed. Lifesure provides personal lines insurance broking services in the vacation/holiday and leisure industry, with products including park home, motorhome, caravan …
Read More China’s Huawei Files Lawsuit in Portugal Over Ban on Supplying 5G Equipment
Chinese technology giant Huawei has filed a lawsuit with a Lisbon court against a resolution by Portugal’s cybersecurity council CSSC that effectively bars operators from using its equipment in high-speed 5G mobile networks, the company said. The CSSC is the …
Read More S&P Raises Reinsurance Sector View to Stable From Negative as Rates Keep Rising
S&P Global has raised its view of the global reinsurance sector to stable from negative, it said on Tuesday, due to higher reinsurance rates and increasing investment income, while rival Moody’s kept its outlook for the sector stable. The COVID-19 …
Read More AI Fused With Trade Data May Finally Smooth Clunky Supply Chains
The dawn of artificial intelligence tools like ChatGPT may revolutionize the way both the public and private sector use data to ferret out risks and opportunities in the $32 trillion global trading system. During the pandemic, government agencies and industries …
Read More RMS, Verisk Weigh in With Insured-Loss Estimates in Low Billions of Dollars From Idalia
Moody’s RMS and Verisk on Monday each released insured loss estimates for Hurricane Idalia. RMS estimated total private market insured losses from Idalia to be between $3 billion and $5 billion, with a best estimate of $3.5 billion. Verisk meanwhile …
Read More Florida Residents Worry About More Burglaries After Looters Post-Storm
HORSESHOE BEACH, Fla. (AP) — Two people were charged with looting a home damaged by Hurricane Idalia in Florida`s Big Bend region, as residents` concerns grew that burglars could be tempted to hit other hurricane-ravaged homes since law enforcement is …
Read More Florida Regulators Remind Insurers to Take Care of Insureds as Claims Come in
The property insurance industry breathed a sigh of relief after Hurricane Idalia landed in a less-populated part of the coast, but regulators have signaled a need to make sure that claims from the area, now topping 10,000, are taken care …
Read More Delaware Police to Pay $50K to Man They Blocked From Warning of Speed Trap
Delaware State Police have agreed to pay $50,000 to resolve a federal lawsuit filed by a man who said troopers violated his constitutional rights by preventing him from warning motorists about a speed trap. A judgment was entered Friday in …
Read More People Moves: Caro Joins Alliant Insurance Services as VP; LUBA Workers’ Comp Hires McCrary
Caro Joins Alliant Insurance Services as VP John Caro has joined Alliant Insurance Services as vice president in its Alliant Americas division. Caro is based in Lafayette, La. Alliant is headquartered in Irvine, Calif. Caro has over 30 years of …
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