Poor track conditions that should have been flagged by a freight railroad company’s inspectors caused the derailment of an Amtrak train in Montana that killed three people and injured 49 others in 2021, federal investigators said in a final report. …

Generation Z insurance consumers – or those born between roughly 1997 and 2012 – want the insurance process to be authentic, honest, and immediate. That’s according to guests on The Insuring Cyber Podcast’s quarterly InsurTech update episode. “Gen Z really …

This edition of International People Moves details appointments at Miller, HSB Canada and HDI Global. A summary of these new hires follows here. Miller Taps Marsh’s Holloway as Head of Europe Miller, the London-based specialist reinsurance broker, announced the appointment …

The Rhine River has been a reliable shipping lane for centuries, helping spawn industrial giants along its banks. But those days are coming to an end, and the scramble is made all the more urgent as Germany’s government fails to …

A price-fixing scandal at Japan’s biggest casualty insurers is escalating following a media report that the suspected collusion is likely to be wider than initially believed. Shares of Tokio Marine Holdings Inc., MS&AD Insurance Group Holdings Inc. and Sompo Holdings …

Mosaic Insurance has secured strategic investment from two US growth-capital providers to drive the specialty insurer’s talent acquisition and product development. Alternative asset manager Atalaya Capital Management and financial services-focused private-equity firm Culpeper Capital Partners LLC are taking a minority …

Consilium, the London-based re/insurance brokerage arm of Aventum Group, has been granted a license by the Cayman Islands Monetary Authority (CIMA). Consilium’s focus in the region will be in the financial and professional lines, construction and commercial property sectors, drawing …

Before COVID-19 sent one-third of the global workforce home, the Melbourne property surveyor that employs drone operator Nicholas Coomber called its 180-strong staff into the office every day at 9 a.m. to hand out assignments. Now that they work from …

FEMA’s National Flood Insurance Program (NFIP) substantially improved ratemaking by implementing Risk Rating 2.0 in 2021 but the program faces a potentially significant premium shortfall, a study by the U.S. Government Accountability Office (GAO) found. Published ahead of reauthorization of …

Despite movement in limit and deductible levels, public directors & officers (D&O) pricing continues to drop for the fifth consecutive quarter. The pricing index from Aon Commercial Risk Solutions’ Financial Services Group decreased to 1.15 in the second quarter from …

Containment on an 80,000-plus-acre wildfire in Southern California grew to 23% on Tuesday, as firefighters made some progress against the state’s most massive ongoing blaze. It was listed as being at 0% containment a day earlier. The York Fire in …

Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President and CEO Tom Wilson said the …