INSURANCE NEWS
People Moves: H.W. Kaufman Group Promotes 11 Leaders Across North America
H.W. Kaufman Group, headquartered in Farmington Hills, Michigan, promoted 11 members of its North American team to new roles. The promotions include: Rich Gobler, promoted to executive vice president, Burns & Wilcox; from senior vice president. Manny Manuelidis, promoted to …
Ivans Index Shows Commercial Lines Renewal Rates Down in October From August
All major commercial lines premium renewal rates were lower in October than in August, according to the latest monthly Ivans Index. Premium renewal rate change by line of business for October 2024 highlights include: Commercial Auto: 9.62%, down slightly from …
AIG CEO Zaffino on Approach to Catastrophe Losses in Today’s Reinsurance Market
American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead continue to be absorbed by primary insurance companies, he told analysts during …
Markets/Coverages: Novatae Risk Group Launches Misc. Pro Liability Program
Novatae Risk Group, a managing general agency, program manager and wholesale brokerage, said it has launched its new miscellaneous professional liability program with a focus on fast quoting for brokers and exceptional claim service for insureds. With underwriting handled in-house …
FBI Warns Against Two Fake Videos as Officials Combat Election Disinformation
The FBI on Tuesday warned Americans about two new fake videos falsely citing terror threats and voter fraud, the latest in a string of disinformation that officials expect will intensify as voters head to the polls on Election Day and …
Arthur J. Gallagher & Co. Acquires Michigan’s Peabody
Arthur J. Gallagher & Co. announced the acquisition of Fenton, Michigan-based Peabody Insurance Agency, Inc. (Peabody Insurance). Terms of the transaction were not disclosed. Peabody Insurance is a retail insurance agency serving commercial and personal lines clients primarily in southeast …
States Worried About Election Unrest Take Security Precautions
A security fence rings a Las Vegas building where a Nevada county tabulates votes. An Arizona sheriff has his department on high alert to guard against potential violence with drones and snipers on standby. The National Guard has been or …
Swiss Re Agrees to Sell iptiQ’s European P&C Business to Allianz Direct
Swiss Re has agreed to sell iptiQ’s European P&C business to Allianz Direct, in line with its strategic decision to withdraw from iptiQ. Allianz Direct, the pan-European online insurer of Allianz Group, will take over the risk carrier based in …
In Florida’s Weed Wars, Griffin and DeSantis Clash With Trump and ‘Pot Daddy’
In Florida’s weed wars, the big money is going against Governor Ron DeSantis and the financier of his anti-cannabis crusade, billionaire Ken Griffin. The Citadel founder has funded about half of the campaign against a referendum on legalizing recreational marijuana …
Biden Declares Major Disaster Area in New Mexico Due to Historic Flooding
President Joe Biden declared a major disaster area in southeast New Mexico after historic flooding killed two people and forced the rescue of more than 300 last month. The declaration announced last week makes federal funding available to residents in …
Rescuers Find Body of Final Missing Tenn. Factory Worker Swept Away by Flooding
ERWIN, Tenn. (AP) — Rescue workers in Tennessee have recovered the body of the final person still missing after massive flooding from Hurricane Helene hit a plastics factory there. Rosa Andrade, 29, was one of six employees killed after they …
Boeing Dismantles DEI Team as Pressure Builds on New CEO
Boeing Co. has dismantled its global diversity, equity and inclusion department, making it the latest high-profile corporation to make changes to its DEI policy as its new top leader oversees a broader revamp of the company’s workforce. Staff from Boeing’s …