INSURANCE NEWS
Young Agents: Last Chance to Share Your Thoughts on Insurance Industry
Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? This is the final call for participating in this year’s Young Insurance Agents Opinion Survey! The deadline for participating is April 1. …
Oklahoma Lawmaker Seeks Statewide Ban on Sewage Sludge Use
When Leslie Stewart moved to her home in a rural expanse of Lincoln County outside of Oklahoma City more than 20 years ago, she thought she’d found a slice of heaven. In a town of fewer than 700 people, her …
EU Agencies Seek to Cut Red Tape in €1.2 Trillion ABS Market
European financial authorities are exploring ways to streamline oversight of the €1.2 trillion ($1.3 trillion) asset-backed securities market and simplify reporting requirements, according to a report that offers recommendations for policymakers. The region’s banking, insurance and securities supervisory bodies are …
MS Amlin Opens Australia Branch, Taps Aon Re Exec as Head of Australia, New Zealand
MS Amlin, the Lloyd’s global re/insurer, announced the opening of an Australian branch office in Sydney, subject to Lloyd’s approval. Leading the branch office is Matt Botfield who has been named head of Australia and New Zealand. The office will …
Conduit Re CEO Carvey to Retire; Company Announces Plans to Buy More Retro Cover
Conduit Re’s Chief Executive Officer Trevor Carvey has a decided to step down and retire with effect on April 11, according to the reinsurer’s parent company CHL. At the same time, the company announced a trading update with a stated …
More Tort Reform: Georgia Lawmakers Put Limits on Litigation Financing
A second part of Georgia Gov. Brian Kemp’s campaign to limit lawsuits and large verdicts won approval Thursday from the state House of Representatives. The full tort reform package should be ready for the governor’s signature in coming weeks. The …
California OKs Increase in FAIR Plan Commercial Property Coverage Limits
California Insurance Commissioner Ricardo Lara approved a filing from the California FAIR Plan Association to increase commercial property coverage limits. Related: New Fire Maps Put Nearly 4M Californians in Hazardous Zones The approval increases the FAIR Plan’s Division I Commercial …
IRC Finds Personal Auto Insurance Affordability Better Than in the 2000s
According to a new report from the Insurance Research Council, auto insurance is more affordable now than at the start of the 21st century. The IRC, an affiliate of The Institutes, concluded that the average expenditure for auto insurance – …
War-Torn Myanmar Struggles With Quake Rescue as Toll Rises
The death toll from Myanmar’s biggest earthquake in a century is set to climb from more than 1,700 following the end of a critical 72-hour rescue window, with aid efforts hampered by the ongoing civil war and sweltering heat. About …
Thailand Probes Collapse of Only Skyscraper to Crumble in Quake
The collapse of a skyscraper under construction in Bangkok — the lone building to crash during the massive earthquake last week — has become the center of Thai investigations as questions swirl around the construction and quality of the materials …
Family of Canadian CEO Killed in Helicopter Crash Files $35 Million Lawsuit
The family of Stephane Roy, a Canadian entrepreneur killed in a helicopter accident in 2019, has filed a C$50 million ($35 million) lawsuit against manufacturer Robinson Helicopter Co. Roy and his 15-year-old son Justin disappeared that summer while returning from …
Viewpoint: Steady Growth Amid Market Cycles Is Possible
Property and casualty insurance has traditionally been a cyclical industry, meaning it goes through phases of firm pricing and tight capacity followed by softer market conditions that tend to favor insurance buyers. The ups and downs of insurance cycles complicate …