Industry News

Claims Journal

KCC Projects Hurricane Ian Losses Will Top $60 Billion

Sep 30, 2022 Catastrophe modeler Karen Clark & Co. said Friday that Hurricane Ian will generate nearly $63 billion in losses to private insurers, which would make it the second-most...

PG&E Officials Reach $117M Settlement over California Wildfires

Sep 30, 2022 A $117 million settlement has been reached with former PG&E Corp PCG.N executives and directors who were accused in alawsuit of lax oversight of the utility...

Insurers Brace for Hit from Florida’s Costliest Storm Since 1992

Sep 30, 2022 Insurers are bracing for a hit of between $28 billion and $47 billion from Hurricane Ian, in what could be the costliest Florida storm since Hurricane Andrew in 1992...

NATO Believes Baltic Sea Gas Leaks Were Sabotage

Sep 30, 2022 COPENHAGEN, Denmark (AP) — NATO said Thursday it would retaliate for any attacks on the critical infrastructure of its 30 member countries as it suggested that damage to...

Best's Reviews

House Bill Would Allow Property Carriers to Deduct the Cost of Payouts Following a Disaster

Sep 30, 2022 A Louisiana congressman has introduced legislation to protect insurance availability and encourage insurers to continue...

Australia’s AUB Closes on Acquisition of Lloyd’s Broker Tysers

Sep 30, 2022 AUB Group Ltd. completed its acquisition of Lloyd’s wholesale broker Tysers after receiving regulatory approvals. Terms of the acquisition included...

Allianz Streamlines Group Management Structure

Sep 30, 2022 Allianz SE is making changes to its management structure effective Jan. 1, 2023, in an effort to simplify and safeguard the group. The changes will simplify the...

Citizens Estimates Hurricane Ian Losses of Up to $3.9 Billion in Florida

Sep 30, 2022 Citizens Property Insurance Corp. in Florida is estimating it could receive 225,000 claims from homeowners whose properties were damaged by...

Insurance Journal

California Workers’ Comp Written Premium up 27% in First Half of 2022

Sep 30, 2022 The Workers’ Compensation Insurance Rating Bureau of California released its Quarterly Experience Report, which reflects an increase in written premium due...

People Moves: AXA XL Reinsurance Promotes Twite to CEO, Bermuda; MGA Rokstone Hires 3 Engineering Underwriters From Globe

Sep 30, 2022 This edition of International People Moves details appointments at AXA XL Reinsurance and the MGA...

Insurer Off the Hook in Defending Western Union Against Terrorist Financing Suit

Sep 30, 2022 An insurer’s war and financial services exclusions relieve it of having to provide coverage for an insured being sued for allegedly aiding...

Ian Aftermath Even Harder to Fix With Supply Chain Tattered

Sep 30, 2022 The difficult job of rebuilding communities pummeled by Hurricane Ian is expected to be made even worse by a problem that’s lingered since the early days of the...