INSURANCE NEWS
Jewelry Group Reports Highest Number of Crimes Ever Reported
The number of crimes against jewelers jumped to 2,211 in 2022, the largest number ever recorded, according to an annual crime report by the Jeweler’s Security Alliance. The total was 31.1% above the 1,687 crimes reported in 2021. “Crime trends …
Florida Gov. Signs One Last Bill, Allowing Higher Deductibles, More Storm Models
One of the last property insurance-related bills to come out of the 2023 regular session of the Florida Legislature was signed into law this week, potentially saving insurers some cash, giving them some flexibility on rate requests, and raising hurricane …
Washington Workshop to Address Increased Auto Insurance Complaints
Washington Insurance Commissioner Mike Kreidler is holding a workshop to hear from consumers, insurers and other parties on the reasons about auto and homeowners insurance issues being reported “at a record pace.” The Office of the Insurance Commissioner reported a …
Erie Canal Tourist Boat Capsizing Takes 1 Life, Injures 11
Tuesday morning in Lockport, New York at approximately 11:20 a.m. a boat capsized inside a cave along the Erie Canal with 28 visitors and one staff member aboard. Lockport Mayor Michelle Roman reported that one person died and 11 people …
People Moves: Graham-Rogers Promotes Owens and Walker
Graham-Rogers Insurance Promotes Owens and Walker in SLS Roles Graham-Rogers Insurance has promoted Jana Owens to operations lead with standard lines services (SLS). Owens comes from a background in standard lines services. Before joining the team, she adjusted workers’ compensation …
People Moves: Guy Carpenter Expands Cyber Team With Key Appointments; Aspen Appoints AXA XL’s Welch as Chief Underwriting Officer, Reinsurance
This edition of International People Moves details appointments at Guy Carpenter and Aspen Insurance Holdings. A summary of these new hires follows here. Guy Carpenter Expands Cyber Team With Key Appointments to Global Team Guy Carpenter, the reinsurance business of …
Lloyd’s and Dubai Partner to Launch Insurtech Accelerator
Lloyd’s, the marketplace for commercial, corporate and speciality risk solutions, has announced a partnership with Dubai’s Department of Economy and Tourism (DET) to facilitate growth opportunities for Dubai-based insurtech start-ups and entrepreneurs. The memorandum of understanding (MOU) facilitates the development …
These Cryptocurrencies Are Getting Hit Hardest Under the SEC Crackdown
They range from the brainchild of a winner of computer science’s most prestigious award to a crypto token supporting the biggest blockchain-based video game. But they all have one thing in common, according to the US Securities and Exchange Commission: …
Head of NHTSA Leaves Agency After Audit Finds Management Problems
The head of the U.S. government’s office that investigates automobile safety problems has resigned from his post just days after the release of a harsh audit criticizing how the office was managed. Stephen Ridella stepped down as director of the …
Nationwide to Take Actions to Limit Risk in Personal, Commercial Portfolios
Add Nationwide to a growing list of insurers making changes to deal with losses in some areas of the country. In a June 12 “business actions update” Nationwide announced moves “to mitigate risk and manage the personal and commercial lines …
Brazil Court Backs Government in $24B Tax Dispute; Ruling Hits Insurers, Banks, Brokers
A majority of judges on Brazil’s Supreme Court voted on Monday to back tax authorities in a judgment on how to calculate levies on banks and other financial institutions that could add as much as 115 billion reais ($23.6 billion) …
Canadian Wildfires Shutter Sawmills, Drive Up Lumber Prices
Canada’s worst-ever spring wildfire season has forced its forestry industry to shutter sawmills, driving up lumber prices and setting production back for months just as housing construction has slowed due to higher costs and a tight labor market. Canada has …