INSURANCE NEWS
Australia’s Usual Summer of Wildfires Is Now Being Soaked by Prolonged Wet Weather
Australians bracing for a return of scorching heat and wildfires are instead battling a prolonged deluge of rain across the country’s east that’s inundated homes and damaged crops from sugar to wheat. Vast areas of the country’s populous eastern states …
Activist Group Scorecard: Insurers Adopting Policies on Oil and Gas Slowed in 2023
The number of insurers adopting policies on oil and gas has slowed, according to climate activist organization Insure Our Future’s seventh annual “Scorecard on Insurance, Fossil Fuels and the Climate Emergency” released this week. The scorecard assesses the policies on …
Riskonnect Acquires Ventiv Technology in Risk Management Deal
Riskonnect, a provider integrated risk management (IRM) solutions, said Thursday is acquired Ventiv Technology, a provider of risk, insurance and underwriting technology solutions. “The acquisition adds substantial value for our customers, giving users of both companies access to a broader …
People Moves: AXIS Appoints Tan Head of Wholesale Casualty; Fiato Named Allstate Chief Claims Officer; Schoberth to Lead Canopius US Distribution
AXIS Capital Holdings Limited named Anna Tan as head of wholesale casualty. Tan joins AXIS from Navigators, a brand of The Hartford, where she served for over 12 years, most recently as head of excess casualty. Before this, she spent …
Auto Insurance Costs Soar by 20% in the US
There’s no relief in sight for US car owners who’ve faced soaring costs of maintaining a vehicle in the past two years. Prices of motor-vehicle insurance rose 20.3% in December from a year earlier, the biggest jump since 1976, according …
Worker Tells of Fleeing Burning Jeep on Cargo Ship Where 2 Firefighters Died
Gaven Puchinsky had been pushing vehicles onto a huge cargo ship in one of the nation’s busiest seaports when he heard a loud “clunking” noise that he believed came from the yellow Jeep Wrangler he was using to nudge the …
Gas Leak Suspected in Texas Hotel Explosion That Injured Over 20 People
Fire investigators said they have still not determined what caused an explosion at a historic Texas hotel that plunged two stories of debris into the basement, blew out windows and doors onto the streets of downtown Fort Worth and left …
First MainStreet Adds Seven Iowa Agencies
First MainStreet Insurance L.C.announced the addition of seven new Iowa agencies to its platform to close out 2023. In late November 2023, Pfantz Insurance Services and the insurance operations of Eckhardt Enterprises, both located in State Center, joined the FMSI …
Markets/Coverages: Ryan Specialty Expands Renewable Energy Offering on Global Basis
Ryan Specialty, the Chicago-based international specialty insurance firm, announced the expansion of its renewable energy insurance offering on a global basis with PERse International, a managing general underwriter based in London. PERse International specializes in both onshore and offshore renewable …
Texas Regulators Suspend Well Permits to Address Rising Earthquake Frequency
The state’s oil and gas regulatory agency last month suspended nearly two dozen permits that let companies inject saltwater water into the ground, a routine industry practice that regulators said has contributed to the rising frequency and magnitude of earthquakes …
Blizzard Knocked out Power and Closed Highways and Ski Resorts in Oregon and Washington
A blizzard pounded mountainous areas of Oregon and Washington on Tuesday, knocking out power and prompting the closure of highways and ski resorts. The Washington Department of Transportation closed two mountain passes: U.S. Route 2, which goes through Stevens Pass, …
Title Insurer Fidelity National Says 1.3 Million Customers Affected by Cyberattack
Title insurer Fidelity National Financial (FNF) said about 1.3 million customers have been impacted by a cyberattack it suffered last November. According to a filing with the U.S. Securities and Exchange Commission, FNF became aware of a cybersecurity incident on …