INSURANCE NEWS
Harvard Study Again Stirs the Pot on Demotech Ratings of Florida Carriers
A study by researchers from Harvard and Columbia universities and at the Federal Reserve has reopened the debate about the financial fortitude and the financial rating system for dozens of Florida property insurance companies. The president of Demotech, the firm …
People Moves: Aon’s Re Solutions Promotes Sapra as CEO, India; BHSI Names du Ché as France Country Mgr; AXIS Canada Launches EIL Unit, Led by Liberty Mutual’s Nagata
This edition of International People Moves details appointments at Aon, Berkshire Hathaway Specialty Insurance (BHSI) and AXIS Capital Holdings. A summary of these new hires follows here. Aon Promotes Sapra as CEO of Reinsurance Solutions in India Insurance broker Aon …
Markets/Coverages: Parametric Insurer FloodFlash Adds Business Interruption Coverage
Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial Director Rich Coyle said his firm created Flood BI because many businesses and public …
Baltimore Hires Law Firms to Pursue Claims Against ‘All Entities’ in Key Bridge Tragedy
Baltimore Mayor Brandon M. Scott announced that the city is taking legal steps to address the impact the Key Bridge collapse has had on the city of Baltimore and its residents, including the families of the victims, business owners, and …
JPMorgan Client Who Lost $50 Million Fortune Faces Court Setback
The family of an elderly JPMorgan Chase & Co. client who lost tens of millions of dollars on investments as he slid into dementia faces a major setback in their years-long legal battle with the bank, after a magistrate judge …
Howden Ireland Acquires Curran Connolly & Co. (Drogheda) Ltd.
Howden, the London-based insurance intermediary group, announced it has acquired Curran Connolly & Co. (Drogheda) Ltd., the commercial and personal lines insurance broker based in County Louth, Ireland. Financial details of the transaction were not disclosed. This transaction follows Howden’s …
Uber Boosts Safety Features Aimed at Women Passengers
Uber Technologies said on Wednesday that it is boosting its safety features for passengers around the world, as it looks to minimize risk and ensure security for women at night. The features allow passengers during a ride to select up …
UK Home, Business Property Insurance Payouts Hit $6B in 2023
Britain’s homes and businesses received 4.86 billion pounds ($6.07 billion) in property insurance payouts in 2023, up 18% from a year earlier, as weather-related home claims hit a record high, the Association of British Insurers said on Monday. Weather-related home …
Fragmented Europe to Make New Bid for US-Style Capital Market
After years of struggling to raise capital in European Union markets, Mews – a hospitality software firm with Czech roots – finally secured funding by registering as a Dutch company. For its next step, Mews is looking even further from …
Apple Warns of ‘Mercenary Spyware Attack’ on Users in India, 91 Other Countries
Apple Inc has warned its users in India and ninety-one other countries that they were possible victims of a “mercenary spyware attack,” according to a threat notification email that was sent to targeted users. The company discovered that attackers tried …
Death Toll From Italian Hydroelectric Plant Explosion Rises to 7
Divers in northern Italy have recovered the last two bodies of workers killed by an explosion that collapsed and flooded several levels of an underground hydroelectric plant, bringing to seven the number of confirmed dead, officials said Friday. The explosion …
BNP Paribas to Acquire Fosun’s Stake in Belgian Insurer Ageas
BNP Paribas has signed an agreement with China’s Fosun Group to acquire its around 9% stake in Belgian insurer Ageas for a sum the French bank estimates at 730 million euros ($777 million). Ageas and BNP Paribas are long time …