INSURANCE NEWS
Taiwan’s Watchdog Says Insurers Have Enough Capital to Withstand COVID Claim Surge
Taiwan’s insurance industry has buffered itself against surging COVID claims after raising capital, the head of the island’s market regulator said. The property insurance companies have no problems fulfilling their obligations in paying claims so far, Huang Tien-mu, the chairperson …
Russia Poised to Largely Circumvent G7 Oil Price Cap With Insurance Restrictions
Russia can access enough tankers to ship most of its oil beyond the reach of a new G7 price cap, industry players and a U.S. official told Reuters, underscoring the limits of the most ambitious plan yet to curb Moscow’s …
Global Natural Disasters Cost Insurers $99B in Q3, With Economic Losses of $227B: Aon
Global natural disaster events to the end of Q3 2022 caused total economic losses estimated minimally at $227 billion – of which $99 billion was covered by public and private insurers, which means that insured losses will top $100 billion …
Business Leaders Overconfident About Cyber Threats: Beazley
Cyber remains a top concern, but business leaders may be overconfident about their resilience against the threat, according to new research from Beazley. Cyber was chosen as the No. 1 technology risk for 28% of UK and U.S. respondents in …
Hotaling Insurance Services Merges with Florida’s Akumen Insurance
Hotaling Insurance Services, a family-owned brokerage and risk management team, has merged with Akumen Insurance Advisors of south Florida. The deal becomes effective Jan. 1. Terms were not disclosed. Akumen has offices in Miami, Fort Lauderdale and Doral. Akumen CEO …
Choice Financial Acquires Georgia Pines; Hilb Adds Allegacy Unit
Choice Financial Group, a regional insurance agency based in Virginia Beach, said it has acquired Georgia Pines Agency, expanding its footprint into Georgia, Florida and California. GPA, headquartered in Kennesaw, Georgia, is a full-service agency with 12 offices and 65 …
People Moves: One Call Names Perez CFO
Jacksonville-based One Call, a care management firm for the workers’ compensation industry, announced that it has named Juan Perez chief financial officer. Perez was previously CFO at WellPath, a health care company based in Tennessee. At One Call, he will …
Crist’s Claim of Cutting Insurance Rates ‘Mostly True,’ Politifact Says
A fact-checking publication known for its thorough examination of claims made by politicians has deemed Charlie Crist’s statement that he once reduced Florida property insurance rates by 10% to be “mostly true.” Crist, the Democratic nominee for Florida governor, has …
New Hampshire County Defeats ‘Deliberate Indifference’ Claim Over Inmate’s Death
A federal court has dismissed claims that New Hampshire’s Hillsborough County, along with the nurses and outside medical providers for the county’s Valley Street Jail, are liable in the death of an inmate who experienced alcohol withdrawal and later died. …
Climate Concern Dropped Amid the Pandemic, but Not for Everyone
Evidently, climate concern dropped last year. A new Gallup World Risk Poll shows fewer than half of those questioned said climate change poses a “very serious threat” to their nations in the next 20 years. It was down overall, but …
Inszone Acquires Texas’ Proctor Insurance
Inszone Insurance Services announced the acquisition of Proctor Insurance, providing the fifth acquisition in the state of Texas. Based in Houston, Proctor offers business and personal lines and specializes in hotels and motels. The agency was founded by Jeff Proctor …
Arthur J. Gallagher Acquires Illinois-Based Cason, Huff & Schlueter
Arthur J. Gallagher & Co. announced the acquisition of Quincy, Illinois-based Cason, Huff & Schlueter Insurance. Terms of the transaction were not disclosed. Founded in 1923, Cason, Huff & Schlueter is a retail insurance agency specializing in personal and commercial …