News Center
Business Insurance - _Risk Management
Richmond National launches E&S unit
Richmond National Group Inc. said Friday it has formed Richmond National Insurance Co., a specialty excess and surplus lines unit supported by more than $70 million in capital from a group of investors, including its senior management team.
POSTED OCTOBER 15, 2021 1:44 PM |
Insurer restates profit after change to SPAC guidance
Bermuda-based insurer and reinsurer International General Insurance Holdings Ltd., which went public via a special purpose acquisition company transaction last year, will reduce its 2020 stated profit by $4.4 million due to changes in accounting guidance for SPACs, the company said Friday.
POSTED OCTOBER 15, 2021 1:42 PM |
Lawmaker blames Boeing leaders for culture that led to crashes
A senior U.S. House Democrat who oversaw a massive investigation into the Boeing 737 MAX said on Friday the indictment of a former chief technical pilot should not be the end of the accountability in the two fatal crashes that killed 346 people.
POSTED OCTOBER 15, 2021 1:30 PM |
Core Specialty, RPS partner on lawyers professional liability insurance
Core Specialty Insurance Holdings Inc. said Friday it is joining with Risk Placement Services Inc. to provide lawyers professional liability insurance for small and midsize firms, with up to $5 million in limits available.
POSTED OCTOBER 15, 2021 1:21 PM |
Twitch says source code exposed in last week's data breach
Amazon.com Inc.-owned Twitch said Friday that last week's data breach at the live streaming e-sports platform contained documents from its source code.
POSTED OCTOBER 15, 2021 1:13 PM |
News – Insurance Journal
California City Paying $11M to Settle Fatal Crosswalk Crash
Sacramento has paid $11 million to settle a lawsuit after a car hit a boy and killed his grandmother in 2018, one of the city’s largest such payouts. QuiChang Zhu, 72, and her grandson Jian Hao Kuang, 6, were using …
POSTED OCTOBER 15, 2021 7:52 PM |
Texas Bill Would Make Firms Requiring COVID Vaccine Vulnerable To Lawsuits
As Gov. Greg Abbott and other Republican Texas leaders wage a war against vaccination mandates meant to curb COVID-19, a state Senate committee on Oct. 14 advanced legislation that would make any entity, including hospitals, vulnerable to discrimination lawsuits if …
POSTED OCTOBER 15, 2021 4:48 PM |
People Moves: Risk, Rushmore and Willis Towers
Risk Strategies Names Meder to Claims Advocacy Role Risk Strategies, a national insurance brokerage and risk management firm, announced that John Meder, of Raleigh, North Carolina, will be the new head of risk consulting and claims advocacy. Meder has more …
POSTED OCTOBER 15, 2021 4:47 PM |
Texas Contractor Fined $212K in Fatal Crane Collapse
Federal workplace safety officials say a Lufkin, Texas, contractor’s failure to assemble a crane boom properly caused the crane to collapse onto a passing vehicle on Interstate 10 near Beaumont, killing the two occupants in April 2021. OSHA cited Hemphill …
POSTED OCTOBER 15, 2021 4:39 PM |
Former Northeast Missouri Town Clerk Sentenced for $315K Embezzlement
The former town clerk of a small rural community in northeast Missouri was sentenced Wednesday to 18 months in federal prison and ordered to pay back $315,000 to the town. Tracey Ray, 48, pleaded guilty in June to wire fraud …
POSTED OCTOBER 15, 2021 4:25 PM |
The trusted source of unique, data-driven insights on insurance to inform and empower consumers.
Cyberattacks on Health Facilities: A Rising Danger
By Max Dorfman, Research Writer, Triple-I As cyberattacks have increased in recent years, one area of particular concern has been those that target hospitals and health systems. These attacks have affected not only private information but also threatened the lives and well-being of patients. A major shift Hospitals rely more than ever on computerized systems … Continue reading Cyberattacks on Health Facilities: A Rising Danger →
POSTED OCTOBER 12, 2021 5:48 PM |
Insuretech Connect: Showcasing Innovation
By Loretta Worters, Vice President, Media R-elations, Triple-I Insuretech Connect – the world’s largest gathering of insurance leaders and innovators – last week brought together insurance technology stakeholders to network, share insights, and learn about leading-edge technology across all insurance lines. Conference participants included Pete Miller, president and CEO of The Institutes, who discussed risk … Continue reading Insuretech Connect: Showcasing Innovation →
POSTED OCTOBER 11, 2021 7:40 PM |
Building a Robust Cyber Insurance Market Is Focus of Oct. 13 Panel
Triple-I CEO Sean Kevelighan will join a virtual panel on Wednesday, Oct. 13, at 11 a.m., ET, to brief public policymakers on ways to build a robust cyber risk insurance market. “To allow businesses to operate safely in an increasingly interconnected world, insurers are working closely with their commercial customers to mitigate cyber risks and … Continue reading Building a Robust Cyber Insurance Market Is Focus of Oct. 13 Panel →
POSTED OCTOBER 07, 2021 2:17 PM |
IRC Releases State-by-State Auto Insurance Affordability Rankings
Louisiana, Florida, and Michigan remain the least affordable states for auto insurance, while Iowa remains the most affordable, according to a new study from the Insurance Research Council (IRC). The report, Auto Insurance Affordability: Countrywide Trends and State Comparisons, looks at auto insurance expenditures as a share of median household income. The IRC affordability index … Continue reading IRC Releases State-by-State Auto Insurance Affordability Rankings →
POSTED SEPTEMBER 29, 2021 2:32 PM |
Pandemic DrivesLife Insurance Sales, Especially AmongYoung Consumers
By Maria Sassian, Triple-I consultant The COVID-19 pandemic contributed to a decrease in life expectancy in the United States for the first time in decades, according to the Centers for Disease Control and Prevention (CDC). After climbing steadily for many years, life expectancy fell by 1.5 years from 2019 to 2020 – the largest one-year … Continue reading Pandemic DrivesLife Insurance Sales, Especially AmongYoung Consumers →
POSTED SEPTEMBER 22, 2021 7:57 PM |
Flood: An Insurable Peril That’s Underinsured
By John Novaria, Managing Director, Amplify This year’s hurricanes have served as a wakeup call about the importance of flood insurance and the fact that not enough people have it. Only 1 in 6 homes in the United States is insured against flood, yet 90 percent of natural catastrophes in the country involve flooding. More … Continue reading Flood: An Insurable Peril That’s Underinsured →
POSTED SEPTEMBER 21, 2021 8:58 PM |
Deepfake: A Real Hazard
By Maria Sassian, Triple-I consultant Videos and voice recordings manipulated with previously unheard-of sophistication – known as “deepfakes“ – have proliferated and pose a growing threat to individuals, businesses, and national security, as Triple-I warned back in 2018. Deepfake creators use machine-learning technology to manipulate existing images or recordings to make people appear to do … Continue reading Deepfake: A Real Hazard →
POSTED SEPTEMBER 20, 2021 6:40 PM |
Insurer Declined to Renew your Homeowners Policy? You Have Options
By Maria Sassian, Triple-I consultant In high-risk areas like the West Coast with its wildfires and Florida with its hurricanes and floods, insurance non-renewals are on the rise as insurers attempt to limit their exposure to future losses. Homeowners insurance protects your most valuable possession, so the prospect of getting a notice that your policy … Continue reading Insurer Declined to Renew your Homeowners Policy? You Have Options →
POSTED SEPTEMBER 16, 2021 5:00 PM |
Cyber Insurance’s “Perfect Storm”
Increasing cybercrime incidents resulting in large losses – combined with some carriers retreating from writing the coverage – is driving cyber insurance premiums sharply higher. Once a diversifying secondary line and another endorsement on a policy, cyber has become a primary component of any corporation’s risk-management and insurance-buying decisions. As a result, insurers need to … Continue reading Cyber Insurance’s “Perfect Storm” →
POSTED SEPTEMBER 14, 2021 9:00 PM |
Relocated Due to Ida? You Might Be Covered for Additional Living Expenses
Standard homeowners and renters insurance policies include additional living expenses (ALE) coverage. ALE pays the costs of living away from home—above and beyond your customary expenses— if you cannot live at home due to damage caused by an insured event that makes the home temporarily uninhabitable. What expenses are typically covered by ALE? ALE covers … Continue reading Relocated Due to Ida? You Might Be Covered for Additional Living Expenses →
POSTED SEPTEMBER 08, 2021 2:23 PM |
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