INSURANCE NEWS
Novacore to Acquire Real Estate Insurance MGA Minglewood Risk
Novacore, the specialty insurance managing general agent (MGA) formerly the U.S. commercial division of NSM Insurance Group, has agreed to acquire Minglewood Risk, an MGA specializing in habitational and real estate coverages. Founded in Langhorne, Pennsylvania, with core markets in …
Markets/Coverages: WTW Offers Parametric Insurance With Weather-Warning Trigger
Willis, a business of WTW, announced the launch of a parametric policy that is activated automatically when a red weather warning is issued by the UK Met Office or Met Éireann, the Irish National Meteorological Service. This has been designed …
Storm Threatens to Disrupt Transport Systems Across Northern UK
The first named storm of the season is forecast to hit the UK and Ireland with heavy rain and gale-force winds on Friday and Saturday, disrupting transport in northern regions. Amber and yellow alerts have been issued for a large …
Viewpoint: Gen AI Offers a New Frontier in Claims Modernization
When it comes to modernization, it sometimes feels like the insurance industry is running to stand still. In recent years, carriers have invested significantly in intelligent automation, standardizing workflows and guiding processes like claims triage. They have also spent substantial …
People Moves: Howden US Hires Murphy to Build Casualty; Hippo Appoints Gordon Chief Data Officer; Verisk Names Khemka President of Underwriting Solutions
Howden US announced the appointment of Carol Murphy as head of US Casualty. Murphy will join CEO Mike Parrish’s leadership team and partner with Howden’s global specialty leaders to build a US casualty offering that is client-centric, technically rigorous and …
Uber Found Not Liable in First Trial Over Driver Sexual Assault Claims
Uber is not liable for the sexual assault of a woman who said she was attacked by her driver on a ride she ordered from the ridesharing app, a California jury said on Tuesday, according to an attorney for the …
IBHS Study Shows Smaller Hail May be More Damaging to Roofs Than Once Believed
A study by the Insurance Institute for Business and Home Safety indicates that roof damage from smaller hailstones may be much more significant than previously believed. It’s a finding that one plaintiffs’ lawyer already has cited as potential support for …
Farmer Woods Acquires iinsure in Arizona
Farmer Woods Group acquired iinsure in Arizona. iinsure clients will continue working directly with Jeff Martin, owner of iinsure, while also gaining access to Farmer Woods Group’s resources. iinsure is an independent, multi-line insurance agency specializing in complex commercial and …
Study Shows California Heat Standard Reduced Work Injuries on Hot Days
California’s worker heat standards led to fewer work-related injuries on hot days, a new study from the Workers Compensation Research Institute found. The WCRI study, Impact of California’s Heat Standard on Workers’ Compensation Outcomes, measured how California’s heat standard impacted …
Icen Risk Brings M&A Insurance Products to US With $50M Capacity From Zurich
Specialist transactional risk insurer Icen Risk announced it is expanding to the United States to meet strong demand. London-based Icen said minority owner Zurich Insurance Group is providing $50 million of capacity, effective immediately. In April, Zurich acquired a stake …
Texas to No Longer Issue Commercial Drivers Licenses for Many Immigrants
Texas will no longer issue or renew commercial driver’s licenses to DACA recipients, refugees or people with asylum, the Texas Department of Public Safety announced Monday. Commercial driver’s licenses, or CDLs, are for driving vehicles for business purposes, such as …
Private Equity Firm B.P. Marsh Takes Minority Stake in UK Broker Oneglobal
B.P. Marsh & Partners Plc, the specialist private equity investor, announced it has taken a minority stake in Oneglobal, the London-based retail and wholesale insurance broker, which is majority owned by PE firm J.C. Flowers & Co. The investment will …