INSURANCE NEWS
Markets/Coverages: Guernsey Insurer Paratus to Offer Renewable Power Insurance
Paratus Holdings Ltd., the Guernsey-based re/insurance group, announced that Paratus Renewables Insurance Ltd. has been granted regulatory approval by the Guernsey Financial Services Authority (GFSC) to provide insurance cover to the renewable power industry. Paratus said its insurance solutions will …
Aspen’s Orseck Explains the Growing Impact of PFAS [Video]
As research has evolved on the effects of per- and polyfluoroalkyl substances (PFAS), correlations are being made to medical conditions within people exposed—and that’s about everyone to some degree. “We’re ingesting this stuff for years and years, to the point …
Ukraine Says Russian Strike on Danube Port Town Kills Three
Ukrainian authorities said at least three people were killed by a Russian strike against a Danube River port that was repeatedly attacked last year after it became a lifeline for key exports amid the Kremlin’s invasion. Fourteen others, including a …
Penn State to Pay $703K to Resolve Gender Pay Discrimination Claims
Pennsylvania State University will pay $703,742 in back wages and interest and enter into a conciliation agreement with the U.S. Department of Labor to resolve alleged gender pay discrimination against female employees. Based on a compliance review, the Department of …
Personal Auto Insurance Could Be Obsolete in 20 Years: Morningstar
Self-driving cars could make personal auto insurance largely obsolete within 20 years, according to a worst-case scenario modeled by Morningstar. A more likely, moderate scenario forecasts the line could remain necessary for a few more decades, until 2060. The firm’s …
Tallahassee, Atlanta Dodge a Bullet, But Thousands of Claims Are Expected
Hundreds of claims adjusters were set to move out across Florida, Georgia and western parts of the Carolinas Friday morning as Hurricane Helene brought high storm surge and 140 mph winds to a region that has faced three hurricanes in …
Study: 75% of Independent Agencies Report Revenue Gains From 2022-23
Despite challenging conditions, 75% of independent insurance agencies saw revenue gains from 2022 to 2023, according to the 2024 Agency Universe Study. That number is significantly higher than between 2020 and 2021, during which 62% of agencies experienced gains. According …
New York State Insurance Fund Swapped Coal Assets for Responsible Index ETF
Moving money from coal assets to a new responsible-investment exchange-traded vehicle provided the sort of quick win the New York State Insurance Fund was looking for when evaluating the climate and social impacts of its holdings, a top executive said …
Climate Change and Rising US Insurance Rates
A new article directly blames climate change for rising U.S. insurance rates. While the article mulls the various and numerous reasons for rising rates, it calls out what the author sees as a “common thread” that ties in rising rates …
Policing Group Says Officers Must Change Use of Physical Force
An influential group of law enforcement leaders is pushing police departments across the U.S. to change how officers use force when they subdue people and to improve training so they avoid “consistent blind spots” that have contributed to civilian deaths. …
Zillow Listings Will Now Highlight Climate Risks, Insurance Info
For-sale listings on Zillow will now feature detailed climate risk information for five key categories — flood, wildfire, wind, heat and air quality — along with insurance recommendations, according to the online real estate company. The climate risk data, provided …
Report: Cybersecurity Claims for Data Loss Vary Broadly
Cybersecurity claims reported in recent years vary sharply, with larger claims reaching $500 million of data loss and smaller claims as low $1,000. NetDilligence released its annual report, which analyzes 10,464 claims from incidents between 2019 and 2023. The report …