INSURANCE NEWS
Run-off Specialist Premia Completes Loss Portfolio Transfer With Hiscox
Premia Holdings Ltd., the Bermuda-based run-off specialist, announced that Premia Syndicate 1884 has entered into a loss portfolio transfer agreement with Hiscox Syndicate 33. The portfolio consists of a diverse mix of business underwritten by Syndicate 33 during years of …
What the COVID-19 Digital Threat Landscape is Teaching Insurers Post-Roe
The digital threat landscape of the COVID-19 pandemic is teaching insurers and other companies some valuable lessons about digital privacy in the wake of the U.S. Supreme Court’s overturning of the 1973 Roe v. Wade decision. Aaron Tantleff, partner at …
London Workers Could Save Money by Returning to Offices as Bills Soar: Research
City of London workers looking to save money may want to embrace the office over winter as the cost of working from home soars alongside energy bills. Those prepared to go into the office every day could save about £50 …
Australia’s Extreme Climate Risks Threaten to Make Home Insurance Unaffordable
Australia’s mounting extreme weather events threaten to make home insurance premiums unaffordable for an estimated 1 million households. On average, Australians living in high-risk areas like northern Queensland pay A$3,000 ($2,100) in annual premiums, or double that of residents in …
Federal Reserve Issues Guidance for Banks Considering Crypto Activities
The U.S. Federal Reserve on Tuesday issued additional guidance for banks considering activities involving cryptocurrencies, emphasizing that firms must notify the Fed beforehand and make sure whatever they do is legally permitted. The Fed said in a statement that while …
People Moves: Delleney Moves to Risk Partners; Gibson Joins Alliant
Greg Delleney, assistant captives director at the South Carolina Department of Insurance, has joined the capital management firm Risk Partners as captive account manager. Delleney began working for the SCDOI in 2010 and held a number of roles at the …
Tennessee Private Prison Firm Settles Lawsuit After Inmate’s Death
A private prison company has agreed to settle a federal lawsuit over a Tennessee inmate’s killing that gained national attention after a judge ordered the plaintiff’s attorney to stop tweeting about it. Tennessee-based CoreCivic and attorney Daniel Horwitz, who represents …
New York’s Foursurance Agency Joins SAN Group
Satellite Agency Network Group, Inc. (SAN) reported that Foursurance Agency of Clifton Park, New York has joined the alliance. Foursurance is a full-service insurance agency specializing in auto, home, life, business and retirement products. The office is centrally located between …
$12M in Emergency Funding for Death Valley Flood Repairs
Nearly $12 million has been made available to the National Park Service to repair flood damage to roads in Death Valley National Park, the U.S. Department of Transportation’s Federal Highway Administration said. Most roads in the desert park have been …
3M Faces $100 Billion in Losses From Veterans’ Earplug Suits, Expert Says
3M Co. faces more than $100 billion in losses and bankruptcy because of lawsuits brought by veterans who blame their hearing problems on faulty earplugs, according to a litigation consultant hired by lawyers suing the industrial conglomerate. Initial results from …
Weston’s Texas, Louisiana Policies to be Canceled September 7
Weston Property & Casualty Insurance Co. policies in Texas and Louisiana will be canceled on September 7 after the Florida-based insurer was ordered to end operations in early August after going insolvent. The Texas Department of Insurance (TDI) said Weston …
Pair of Texas Companies Earn Safety Awards
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) renewed two Texas companies’ Lone Star Safety Awards for their exemplary workplace safety programs and low rates of work-related injuries and illnesses. The companies include Pond and Company in Pasadena …