Insurance
Hong Kong Fire to Hurt Taiping Insurance Earnings, Fitch Says
The deadly fire that ripped through seven high-rise towers in Hong Kong is expected to result in a surge in near-term claims among insurers, and hit earnings of the complex’s main underwriter, an affiliate of China Taiping Insurance Holdings 0966.HK, …
Read More People Moves: Westfield Specialty International Taps Zurich’s Watson to Lead New Cyber Offering; Liberty Names Delvos From Corvus as Head of Cyber and Tech E&O, Europe
This edition of International People Moves details appointments at Westfield Specialty International and Liberty Specialty Markets. A summary of these new hires follows here. Westfield Specialty Int’l Taps Zurich’s Watson to Lead New Cyber Offering Westfield Specialty International has named …
Read More Applied Systems, Comulate Spar Over Trade Secret Theft Allegations
Competitors in the insurance technology market are now warring through litigation, with each company bringing hard-hitting allegations against the other. Late last month, insurance software provider Applied Systems sued Comulate on allegations that Comulate created a fake agency to take …
Read More Texas’ Camp Mystic Announces New Safety Upgrades Following Tragic Flood
The owners of an all-girls summer camp in the Texas Hill Country, where 25 campers and two teenage counselors died in catastrophic July 4 flooding, announced plans on Tuesday for new safety upgrades that will be in place when a …
Read More ZestyAI’s Z-Water Approved in Five States
ZestyAI announced that its non-weather water risk model, Z-WATER, has been reviewed and accepted for use in underwriting and rating in Illinois, Indiana, Iowa, Louisiana, and Wisconsin. Insurers in these states will now be able to set property-specific rates, align …
Read More King Risk Partners Acquires Ohio’s Arnold Insurance Agency
King Risk Partners announced the acquisition of Arnold Insurance Agency, an independent firm based in Reynoldsburg, Ohio. The Arnold Insurance Agency is recognized throughout Ohio as one of the premier providers of construction insurance, small business insurance, personal insurance, risk …
Read More Construction Firm Owner Pleads Guilty to $600K Workers’ Compensation Fraud
The owner of an iron and erection construction company was sentenced this week for underreporting payroll to avoid paying $600,000 in workers’ compensation policy premiums. According to Nassau County District Attorney Anne T. Donnelly, business owner Mahendranauth Khargie of Rockville …
Read More Nevada Governor Signs Sweeping Crime Bill as State Seeks to Boost Tourism
Nevada Gov. Joe Lombardo signed his sweeping crime package into law over the weekend that will help revive a unique court program that barred offenders of some crimes from the Las Vegas Strip and will stiffen penalties for smash-and-grab robberies, …
Read More Trucordia Acquires Global Financial & Insurance Services
Trucordia today said it has acquired Global Financial & Insurance Services, a provider of tailored insurance and financial solutions for individual, families, and business in all 50 states. Terms of the deal were not disclosed. Felix Morgan, CEO of Trucordia, …
Read More Hedge Funds Get Jittery on Prospect of UK’s Noncompete Ban
The UK is reviving a plan to make it easier for employees to switch jobs, putting financial firms on edge, as some of the most controversial non-compete clauses in their hiring contracts come under scrutiny once again. The government published …
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