The Texas Windstorm Insurance Association Board of Directors voted Tuesday to establish $6.5 billion as the association’s 1:100 probable maximum loss (PML) for the 2024 storm season, an increase of $2 billion over last year’s PML. TWIA has added more …

The Michigan Department of Insurance and Financial Services (DIFS) announced that the department helped recover more than $19.5 million for Michigan consumers in 2023. In addition, DIFS staff answered nearly 140,000 consumer phone calls, a single year record, and handled …

Resilience, a risk management firm, has strategically expanded its capabilities through the acquisition of BreachQuest, an incident response technology solution. This move is set against the backdrop of an evolving digital workspace and cloud-based productivity applications, highlighting the critical challenge …

OMAHA, Neb. (AP) — A former Nebraska women’s basketball player alleges coach Amy Williams and athletic director Trev Alberts did not take appropriate action when her sexual relationship with an assistant coach became widely known. Ashley Scoggin filed a civil …

This edition of International People Moves details appointments at the insurer Markel and the specialty re/insurer IQUW. A summary of these new hire follows here. Markel, the insurance operations within Markel Group Inc., announced that Katie Costello has been named …

The familiar “cone of uncertainty” map, used for years by meteorologists to show a hurricane’s predicted path, is about to get an upgrade – at least temporarily, the National Hurricane Center announced this week. Starting Aug. 15, just after the …

Aon’s proposed $13.4 billion acquisition of NFP passed a regulatory waiting period Feb. 21, the companies said. While the acquisition is still subject to other regulatory and closing conditions, it has cleared the 30-day waiting period under the Hart-Scott-Rodino Antitrust …

Retailer Target and the maker of a hoverboard the store sold have agreed to a $38.5 million settlement of a lawsuit claiming the scooter caused a Pennsylvania house fire in which two girls, ages 10 and 15, died. The lawsuit …

Beazley, the London-based specialty insurer, announced the creation of an integrated cyber risk management company, Beazley Security, formed from the merger of its in-house Cyber Services team and its wholly owned cyber security company, Lodestone. Beazley Security will be led …

When does a hallucinogenic drug become the direct cause of a catastrophic injury, triggering a homeowners’ policy exclusion? Not when a young man falls out of bed and is later moved by his comrades, potentially worsening a spinal injury, a …

Protection and Indemnity (P&I) clubs sought further price improvements at the February 2024 renewals in order to keep up with claims inflation, despite a relatively benign year for P&I claims in 2023, according to a report from AM Best. The …

Artificial intelligence experts and industry executives, including one of the technology’s trailblazers Yoshua Bengio, have signed an open letter calling for more regulation around the creation of deepfakes, citing potential risks to society. “Today, deepfakes often involve sexual imagery, fraud, …