INSURANCE NEWS
Small Plane Crash in Minnesota Kills North Dakota Legislator and the Pilot
A small plane crashed just after taking off from Crystal Airport north of Minneapolis on Saturday, killing a North Dakota state legislator and the pilot, authorities said. North Dakota state Rep. Liz Conmy, of Fargo, was killed in the crash, …
People Moves: MGA Banyan Risk Taps Ex-SiriusPoint CEO Malloy as Executive MD; CFC Names Finn From Canopius as Head of Cyber Exposure, Proactive Risk
This edition of International People Moves details appointments at managing general agents Banyan Risk and CFC. A summary of these new hires follows here. MGA Banyan Risk Taps Ex-SiriusPoint CEO Malloy as Executive MD Banyan Risk Ltd., a specialty managing …
Markets/Coverages: Digital Lloyd’s Syndicate Ki Expands Follow Capacity
Ki, the algorithmically powered Lloyd’s digital-follow platform, announced it has added capacity to its platform, allowing brokers to access larger line sizes across six Lloyd’s syndicates. Tokio Marine Kiln (TMK) will become Ki’s fifth capacity partner, utilizing Ki’s technology to …
How Pennsylvania Added 33,000 Insurance Agents in 3 Years
The Pennsylvania Insurance Department (PID) is touting its success in growing the insurance agent workforce in the state. Over the last three years, the state has made entry for new insurance agents into the insurance industry faster, while also encouraging …
Cogitate Powers Bridge Specialty Group’s New Personal Lines Digital Marketplace
Bridge Specialty Group has started a personal lines digital marketplace built on insurance technology provider Cogitate’s DigitalEdge platform. The digital platform is designed to streamline agent quoting, enhance underwriting efficiency, and support scalable expansion of carrier access. As one of …
Japan-Linked Tanker Carrying Saudi Oil Crosses Strait of Hormuz
Panama-flagged tanker Idemitsu Maru, carrying 2 million barrels of Saudi oil, crossed the Strait of Hormuz, LSEG shipping data showed on Tuesday, becoming the first Japan-linked crude tanker to do so since the Iran war began. Before the U.S.-Iran conflict …
North Carolina Settles on 10% Dwelling Insurance Rate Increase Over 2 Years
North Carolina’s insurance commissioner has negotiated a 10% increase in average rates for dwelling insurance, for rental and non-owner-occupied properties, over the next two years. The North Carolina Rate Bureau, representing property insurers, last fall had filed for a 68% …
Marsh Risk Unveils AI-Powered Risk Companion Suite
Marsh Risk, a business of Marsh, announced the launch of Risk Companion, the next iteration of its digital solutions suite designed to help clients effectively and efficiently manage unique risks. Risk Companion is enabled by an AI-powered analytics engine that …
Simulations Predict Ground Motion for Earthquakes on Bay Area’s Hayward Fault
NEWSWISE — The Hayward fault, part of the larger San Andreas fault system, runs 74 miles through the East Bay of the San Francisco Bay Area. The fault is overdue for an earthquake that could cause extensive damage to such …
Most US Companies Seen Sticking With Quarterly Reporting
Quarterly earnings reporting may soon become optional for U.S. firms—yet the vast majority of companies are unlikely to take advantage of lighter requirements as it could hurt valuations, investors and market participants say. A plan to move from quarterly to …
Renewables in Vogue as Iran War Drives Up Europe Power Prices
As the Iran war disrupts global flows of oil and gas and energy prices skyrocket, the Drin River, which descends through the mountains of northern Albania, is acting as a kind of shield. Swelled by winter rains and snowmelt, and …
Viewpoint: Insurance’s Data Problem Comes Into Focus at Hormuz
Executive Summary: Rapidly shifting war-risk conditions are exposing structural weaknesses in delegated authority underwriting, according to Alex Babin, CEO of Hercules Systems, who notes that many underwriters still rely on delayed, inconsistent bordereaux data. While AI is accelerating data extraction, …