INSURANCE NEWS
NC Fire Marshal Investigating After Mobile Home Fire Kills Five
Authorities have identified five people who died in a mobile home fire in a rural North Carolina town as a husband and wife, a family friend and his two young sons. The Harnett County Sheriff’s Office identified the victims as …
Tropical Storm Bret Spins Up With Possible Hurricane Threat to Caribbean
Tropical Storm Bret formed in the central Atlantic Ocean on Monday, with forecasters saying it could pose a hurricane threat to the Lesser Antilles by Thursday and the Dominican Republic and Haiti by the weekend. The National Hurricane Center in …
Collaboration is Key for InsurTechs in a Challenging Environment
On this episode of The Insuring Cyber Podcast, two InsurTech CEOs shared their perspectives on InsurTech’s role in the insurance industry, and both agreed that disruption was never the goal. Rob Schimek, CEO of bolttech, and Rick McCathron, CEO of …
Carolina Lawmakers Increase Penalty After Last Year’s Substation Attack
Increased punishments for intentionally damaging utility equipment received final legislative approval Thursday in North Carolina after attacks on the state’s electrical grid caused a dayslong blackout last December. The bill passed unanimously in both the House and Senate in a …
Lawsuit Claims Teen was Assaulted After Getting Drunk at Greg Norman’s Fla. Home
LIV Golf leader Greg Norman and his wife are being sued by a high school girl who says she was sexually assaulted at their Florida home by two boys during a party where alcohol was served to her, her alleged …
Hail and Wind from Thunderstorms Caused $5.5 Billion in Damage, KCC Says
Severe weather created when a stationary front trapped warm, humid air over Texas and the Southeast caused an estimated $5.5 billion in insured losses, Karen Clark & Co. said in a briefing on Tuesday. KCC said there were dozens of …
Serious Change Underway at SiriusPoint
SiriusPoint has seen a cluster of challenges over the past two years—ranging from an incomplete merger integration to persistent underwriting and investment losses to several leadership shake-ups. First the merger: Third Point Re merged with Sirius International Insurance Group in …
The Pros and Cons of Going Private
In the days before hedge fund manager Daniel Loeb decided to drop its buyout of SiriusPoint, Carrier Management asked analysts at AM Best and Fitch Ratings about the pros and cons of taking insurers and reinsurers private. Sridhar Manyem, senior …
kWh Analytics Reveals Top Challenges in Solar Industry Risk Management
Demand isn’t an issue for the solar industry. The challenges lie with fulfilling demand with more skilled labor, more technology, and more sites. While the Inflation Reduction Act (IRA), a freeze of potential tariffs, and more robust supply chains have …
World Insurance Acquires Business of B. R. Alexander in Boston
Insurance broker World Insurance Associates LLC (reports it acquired the business of B. R. Alexander & Co., Inc. of Boston, Massachusetts on May 1, 2023. Terms of the transaction were not disclosed. B. R. Alexander was founded in 1937. The …
Fitch: US Insurance Market Forecast to Withstand Losses From Large Hurricane This Year
With ample capital, Fitch Ratings’ latest annual ‘U.S. Hurricane Season’ report indicates U.S. property and casualty (P/C) and reinsurers can absorb losses if a large hurricane makes landfall this year. Hurricane Ian was the only storm to touch down in …
Senator Says DeSantis’ Veto of Flood, Other Projects is Political Retaliation
Florida Gov. Ron DeSantis has vetoed flood-control and other measures in central and west Florida and at least one Republican claims that it was retaliation for his support for the governor’s rival in the 2024 presidential race. State Sen. Joe …