INSURANCE NEWS
Karen Clark Rolls Out Severe Convective Storm Model 5.0
Karen Clark & Co., long considered one of the more accurate catastrophe risk modeling firms, has announced its latest severe convective storm model—Version 5.0—now with a new option on roof values. “While previously, roof replacement cost was assumed to be …
Corgi Insurance Launches Fine Arts, Sports and Entertainment Coverage
San Francisco-based Corgi Insurance has launched fine arts coverage for individuals and businesses, and it introduced Golden by Corgi, a sports and entertainment insurance platform offering coverage through its surplus lines carrier. The fine arts coverage protects eligible artwork and …
Bermuda Insurance Executive and Mother Were on Missing Medical Flight to Boston
The two passengers aboard an air ambulance that crashed in the waters off Massachusetts over the weekend while flying from Bermuda to Boston were identified Monday as a mother from Bermuda and her son, an executive with Hamilton Re. Bermuda …
Thousands of European Wind, Solar Power Systems Exposed Online: Dutch Researchers
Thousands of administrative systems at wind and solar power parks in Europe are exposed to the internet, potentially giving attackers access to interfaces that can stop turbines and raising the risk of sabotage, Dutch researchers warned on Tuesday. The exposed …
Missouri AG Secures $42K Judgment Against Contractor Accused of Fraud
Missouri Attorney General Catherine Hanaway announced that her office secured a jury conviction against Daniel Eschliman for scamming an elderly couple out of more than $42,000. Eschliman allegedly stole from the victims over the course of six months. During those …
Data Centers Pump $340M Into Rural Texas Projects
A new water tower in Turkey: $3 million. Upgrades for a museum in Stamford: $400,000. A first responders appreciation barbecue in Medina County: $10,000. These are just some of the public investments data center companies have paid for across rural …
AM Best Revises Outlook to Stable for Ohio’s Buckeye State Mutual
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Buckeye State Mutual Insurance Company and its affiliate, Home and Farm …
US Gulf Faces Heavy Rain Threat From Developing Tropical System
A tropical system developing in the Bay of Campeche may reach the US Gulf Coast this weekend, threatening heavy rain while potentially skirting major oil and gas hubs. The swirl of showers and winds has a 90% chance of becoming …
People Moves: Hartford Names Smith as International Head of Distribution in UK; Augment Risk Taps Haynes From Carpenter for MGA Practice
This edition of International People Moves details appointments at the insurer Hartford International and the London broker Augment Risk. A summary of these new hires follows here. Hartford Names Smith as International Head of Distribution in UK The Hartford has …
Agency Network SIAA Acquires MGA Canopy Specialty Insurance
Insurance agency network SIAA reports it has acquired Canopy Specialty Insurance, a specialty commercial property/casualty managing general agent (MGA) with operations in the U.S. and U.K. The addition of Canopy adds specialized underwriting and product development capabilities to SIAA’s broader …
Markets/Coverages: Amwins Launches MGA illumin Specialty
Specialty insurance broker Amwins has launched illumin Specialty, a managing general agency (MGA) offering primary general liability and excess liability insurance. The MGA will work exclusively with wholesale brokers to focus on coverages for “challenging exposures across segments where market …
Two Killed, Including Student, in School Bus Crash in Central Florida
A 10th-grade girl and a motorist were killed Monday morning when a car hit a school bus full of high school students in central Florida, causing the bus to swerve and overturn. Polk County Sheriff Grady Judd said at a …