INSURANCE NEWS
Florida Officials Pause Plan to Disband Pro-Palestinian Student Groups, Citing Liability
ORLANDO, Fla. (AP) — A plan to prohibit a pro-Palestinian student group from state university campuses in Florida has been temporarily shelved while officials reassess the proposal. State University System Chancellor Ray Rodrigues said Thursday that campus groups at the …
US SEC Enforcement Collected Nearly $5B in Financial Remedies Last Year
The U.S. Securities and Exchange Commission (SEC) filed 784 enforcement actions in the fiscal year that ran through September, garnering $4.95 billion in penalties and other financial remedies, the agency said in a statement on Tuesday. The total financial remedies …
Florida OIR Approves Record Workers’ Comp Rate Cut, Despite Roofers’ Concerns
The Florida Office of Insurance Regulation and the state insurance commissioner have approved a 15.1% average decrease in workers’ compensation rates, despite calls from roofing contractors to freeze rates for a while. The decrease takes effect for new and renewal …
Hurricane Otis’ Insured Losses Estimated at $2.5B-$6B: Moody’s RMS, Verisk
Moody’s RMS, the risk modeling and solutions company, estimates private market insured losses from Hurricane Otis to range between US$2.5 billion and US$4.5 billion. On the other hand, Verisk puts insured losses at US$3 Billion to US$6 Billion. The estimated …
Fire That Indefinitely Closed Vital Los Angeles Freeway Called Arson
Arson was the cause of a massive weekend fire that charred and indefinitely closed a vital section of a Los Angeles freeway, causing major traffic headaches for hundreds of thousands of commuters, California authorities said. Gov. Gavin Newsom said investigators …
People Moves: WTW Appoints Messinger to Financial Institutions; Integris Names Canales-Perry to Claims
Global insurance broker WTW appointed Brad Messinger as leader of the financial institutions and professional services (FI&PS) industry division. Messinger will assume this role on January 1 while continuing his current duties as the region leader for the Northeast. Messinger …
UK Will Fail to Meet Flood-Defense Goals for Homes as Climate Threat Grows
Hundreds of thousands of British homes will miss out on flood protections in the next few years as spending has been affected by Brexit, inflation and the pandemic, according to the National Audit Office. In 2020, the Department for Environment, …
Artificial Intelligence Not Main Cause of Recent Insurance Layoffs: AM Best
AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that “it is too soon to cite AI as the leading cause of the job …
People Moves: SiriusPoint Taps RSA’s Hardy as Director of Sales & Distribution, Int’l; Pro MGA Global Solutions Names Martin Døhlen as MD of European Platform
This edition of International People Moves details appointments at SiriusPoint and Pro MGA Global Solutions. A summary of the new hires follows here. SiriusPoint Taps RSA’s Hardy as Director of Sales & Distribution, Int’l SiriusPoint Ltd., the Bermuda-based specialty re/insurer, …
Markets/Coverages: Chubb Launches New Media Insurance Product for UK
Chubb announced the launch of a new media insurance product for clients in the United Kingdom. Alongside the launch, Chubb has also rebranded its existing UK Technology Industry Practice as the Technology and Media Practice to reflect its new focus. …
Putting AI to Work Within the ‘Digital Round Trip’: Applied Systems CEO
The data is out there. The challenge is how to amass it, standardize it and make it useful. Taylor Rhodes, CEO of Applied Systems, stopped by the On Point podcast with host Peter Aartrijk to talk about the future of …
Yemen’s Houthis Leader Says Group Will Target Israeli Ships in Red Sea
Yemen’s Houthi leader said on Tuesday his forces would make further attacks on Israel and they could target Israeli ships in the Red Sea and the Bab al-Mandeb Strait. The Iran-aligned group made several missile and drone attacks against Israel …