Business Insurance - _Risk Management
|Ruling on vaccine mandates doesn’t bar employers from proceeding
The recent U.S. Supreme Court decision blocking COVID-19 vaccine mandates for large employers muddies the issue for businesses that have their own mandates in place or want to proceed with one.
POSTED JANUARY 19, 2022 7:00 AM
|Federal, state courts split on COVID BI rulings
The federal appeals court in Atlanta issued another pro-insurer ruling in a COVID-19 business interruption case last week, while a New Mexico state court refused an insurer’s motion to dismiss another case.
POSTED JANUARY 18, 2022 4:08 PM
|Video: The BI Interview with Anne Walsh of Guggenheim Investments
Anne Walsh, chief investment officer - fixed income at Guggenheim Investments, discusses the changing economic environment and how it is affecting insurers' investment strategies.
POSTED JANUARY 18, 2022 3:54 PM
|Brokerage M&A deals top 1,000
There were 1,034 mergers and acquisitions among insurance agents and brokers in 2021, up 30% compared with 2020, according to Optis Partners LLC.
POSTED JANUARY 18, 2022 2:49 PM
|Hamilton unveils financial lines cover, names leader
Hamilton Insurance Group Ltd. said Tuesday it is introducing financial lines insurance at its Bermuda-based insurance and reinsurance operating subsidiary, Hamilton Re Ltd., with the appointment of former American International Group Inc. senior vice president and financial lines manager David Friston.
POSTED JANUARY 18, 2022 2:16 PM
News – Insurance Journal
|Net-Zero Insurers’ Climate-Friendly Plans to Exit Coal Impeded by Antitrust Laws
A group of the world’s biggest insurers and reinsurers jointly pledging to eliminate greenhouse gas emissions from their underwriting activities have run into an unexpected opponent of their planet-friendly mission: competition law. The Net-Zero Insurance Alliance, which counts AXA SA, …
POSTED JANUARY 19, 2022 12:32 PM
|UK Car Insurance Premiums Expected to Be Volatile in 2022: Survey
The cost of a comprehensive car insurance policy in Britain is expected to be volatile this year, after rising 5% in the final quarter of 2021 as more drivers took to roads on easing COVID-19 curbs, a survey showed on …
POSTED JANUARY 19, 2022 11:11 AM
|Fire at Louisiana Church Causes $150K in Damages
An early morning fire on Jan. 14 at a church in Louisiana’s capital left $150,000 worth of damages but no injuries, authorities said. The Baton Rouge Fire Department responded about 5:30 a.m. to a fire in North Baton Rouge at …
POSTED JANUARY 19, 2022 9:00 AM
|UK High Court Throws Out Case Brought by Climate Activists Against Oil Regulator
A UK High Court on Tuesday threw out a case brought by climate activists against the country’s oil and gas regulator OGA, rejecting their argument that the OGA’s actions amount to a type of unlawful subsidy of the fossil fuel …
POSTED JANUARY 19, 2022 8:13 AM
|Michigan House Fire Leaves 2 Dead, 5 Injured, 1 Missing
Two men died and five people were injured early Monday in a fire at a multi-family dwelling in Pontiac, authorities said. Eleven adults were in the home when the fire was reported around 2:44 a.m., Oakland County Sheriff’s Department officials …
POSTED JANUARY 19, 2022 8:05 AM
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|Invest in Technology — But Don’t Forgetto Invest in People
A recent survey of insurance underwriters found that 40 percent of their time is spent on “tasks that are not core” to underwriting. The top three reasons they cited are: Redundant inputs/manual processes; Outdated/inflexible systems; and Lack of information/analytics at the point of need. The survey – conducted by The Institutes and Accenture – also … Continue reading Invest in Technology — But Don’t Forgetto Invest in People
POSTED JANUARY 14, 2022 4:59 PM
|NFT & Insurance: Is It “A Thing”?
Non-fungible tokens (NFTs) are a hot topic, gaining attention from pop culture to the business press. Most of this notoriety has been associated with the buying and selling of digital collectibles, but the underlying blockchain technology and this specific application of it have implications for tangible assets and for insuring both digital and physical properties. … Continue reading NFT & Insurance: Is It “A Thing”?
POSTED JANUARY 05, 2022 3:43 PM
|Homeowners Premiums Rise Faster Than Inflation; Expect This to Continue
Homeowners insurance premium rates are rising faster than inflation, S&P Global Market Intelligence data shows, and Triple-I’s chief insurance officer says they’re likely to keep climbing. From 2017 through 2020, premium rates are up 11.4 percent on average countrywide, according to S&P. Recent factors include rising material costs and supply-chain disruptions that are driving up … Continue reading Homeowners Premiums Rise Faster Than Inflation; Expect This to Continue
POSTED DECEMBER 30, 2021 3:56 PM
|Insurance & “The New Normal”
By Tasha Williams, Senior Research Writer At Triple-I’s 2021 Joint Industry Forum (JIF) on Thursday, December 2, CEO Sean Kevelighan challenged attendees to ponder a question: “What do we know about the new normal?” In his opening presentation and a sit-down with NBC correspondent Contessa Brewer, Kevelighan shared insights on how the emerging post-pandemic reality … Continue reading Insurance & “The New Normal”
POSTED DECEMBER 10, 2021 2:01 AM
|JIF C-Suite Panel: Finding Opportunity Amid Evolving Risks
Insurers – beyond their traditional role as financial first responders – are helping policyholders mitigate the risks posed by natural disasters and cyber threats, panelists at a Joint Industry Forum (JIF) panel said. The JIF’s C-Suite on Resilience panel was moderated by John Huff, president and CEO of the Association of Bermuda Insurers and Reinsurers (ABIR). It … Continue reading JIF C-Suite Panel: Finding Opportunity Amid Evolving Risks
POSTED DECEMBER 09, 2021 7:01 PM
|Insurers Focusingon Retention and Recruitment
Retaining and recruiting talent has been a priority for years, but the pandemic changed how insurers approach these needs, a panel of experts concluded at Triple-I’s Joint Industry Forum (JIF) last week. The panel examined whether insurers’ growing comfort with remote work will lead to a more diverse workforce and if technological advances would give insurance industry … Continue reading Insurers Focusingon Retention and Recruitment
POSTED DECEMBER 08, 2021 6:07 PM
|As Cybercriminals Act More Like Businesses, Insurers Must ThinkMore Like Criminals
Cybersecurity is no longer an emerging risk but a clear and present one for organizations of all sizes, panelists on a panel at Triple-I’s Joint Industry Forum (JIF) said. This is due in large part to the fact that cybercriminals are increasingly thinking and behaving like businesspeople. “We’ve seen a large increase in ransomware attacks … Continue reading As Cybercriminals Act More Like Businesses, Insurers Must ThinkMore Like Criminals
POSTED DECEMBER 07, 2021 9:36 PM
|Runaway Litigation Drives Up Costs, Premiums,JIF Panelists Say
By Loretta Worters, Vice President, Media Relations, Triple-I Costs associated with increasing lawsuits and “nuclear verdicts” continue to challenge insurers’ capacity to provide coverage, according to panelists at Triple-I’s Joint Industry Forum (JIF). “Excessive growth in insurance settlements is top of mind for many,” said Frank Tomasello, J.D., executive director of The Institutes Griffith Insurance … Continue reading Runaway Litigation Drives Up Costs, Premiums,JIF Panelists Say
POSTED DECEMBER 07, 2021 9:04 PM
|Bridging the Insurance “Talent Gap”
By Maria Sassian, Triple-I consultant Even before the pandemic and “the great resignation,” insurance faced a “talent gap”. Part of the challenge has been finding replacements for a rapidly retiring workforce, as the median age of insurance company employees is higher than in other financial sectors. The industry also needs new talent skill sets to … Continue reading Bridging the Insurance “Talent Gap”
POSTED DECEMBER 03, 2021 5:26 PM
|JIF 2021: Risk & the “New Normal”
Insurance industry decision makers and thought leaders gathered yesterday for the Triple-I Joint Industry Forum (JIF) in New York City to share insights on managing risk in the post-pandemic world. The in-person, daylong program was conducted in accordance with New York City’s COVID-19 protocols. Topics ranged from climate and cyber risk and the impact of “runaway … Continue reading JIF 2021: Risk & the “New Normal”
POSTED DECEMBER 03, 2021 2:21 PM