INSURANCE NEWS
Markets/Coverages: Howden Launches Cyber Ins. Solution with Chubb, LSM and Mosaic
Howden, the London-based insurance intermediary group, announced the launch of Howden Safe+, a cyber insurance solution aimed at clients with revenues between $250 million and $2 billion. Safe+ simplifies the procurement process by reducing the number of questions required at …
Typhoon Kong-Rey Hits Taiwan as Shanghai Braces for Downpour
Typhoon Kong-Rey made landfall in Taiwan packing dangerous winds, with Shanghai bracing for the heaviest November rain burst since 1981 as the large storm tracks toward mainland China. Kong-Rey had maximum sustained winds of 51 meters per second (114 miles …
Spain Declares Three Days of Mourning as Storms Kill More Than 90
Spain declared three days of mourning as heavy rains killed more than 90 people, in what is already one of the country’s worst-ever natural disasters. The local government of Valencia, the coastal region at the epicenter of the disaster, said …
Online Insurer Waterdrop Mulls Secondary Listing in Hong Kong
US-listed Waterdrop Inc. is looking at a secondary listing in Hong Kong as it seeks to expand its insurance business in the financial hub, according to Chief Executive Officer Shen Peng. The online insurance broker, which has overhauled its business …
Huntington Starts Coaching Program for Insurance Marketing, PR, and Ad Pros
Ted Huntington, a marketing leader with a track record in the insurance, finance, and energy sectors, announced the launch of his new national coaching enterprise, dedicated to helping insurance marketing, communications, public relations, and advertising professionals elevate their careers. Huntington …
OPTIS: Insurance Agency M&A Down 10% This Year
The total of insurance agency mergers and acquisitions as of the end of September was down 10% from the same period in 2023, according to investment banking and financial consulting firm OPTIS Partners. OPTIS Partners’ M&A database counted 535 announced …
Aerospace Startup Partners With NASA, USGS to Monitor Wildfires, Storms From Space
Aerospace startup Sceye has partnered with NASA and the U.S. Geological Survey to deploy climate management tools to monitor wildfires and storms from the edge of space, the company and the government agencies exclusively told Reuters on Tuesday. Sceye’s High …
ICEYE Analysis Shows Wider Florida Flooding From Milton: 185,000 Buildings Hit
Flooding from Hurricane Milton appears to have been more extensive than initially determined, affecting almost 185,000 buildings all across Florida, says a new analysis from ICEYE, a firm that uses satellite images to measure damage for the insurance industry. The …
Ship Owner in Baltimore Bridge Collapse Blames Maryland, Others in Liability Case
As a sprawling liability case takes shape following the deadly collapse of Baltimore’s Francis Scott Key Bridge in March, the owner and manager of the container ship Dali are seeking to deflect responsibility and cast blame elsewhere. Attorneys for Singapore-based …
Allstate Turns in Net Income of $1.2B After Q3 Hurricanes
Allstate Corp. said its net income attributable to common shareholders for the third quarter was about $1.2 billion compared to a loss of $41 million during the same time a year ago. The Northbrook, Illinois-based insurer recorded an improvement in …
Louisiana Fortify Homes Program Waitlist Participants Upgraded to Active Status
The Louisiana Department of Insurance said that the 400 Louisiana Fortify Homes Program (LFHP) registrants who were placed on the waitlist after registering for the fifth round of grants last month have been moved to active participant status and may …
Missouri Farm Cooperative Fined $241K for Lacking Proper Equipment
A Missouri grain cooperative could have prevented an employee’s fatal engulfment in a storage bin in May 2024 had it followed federal workplace safety requirements, the U.S. Department of Labor determined. Responding to the employer’s report of a worker fatality, …