PartnerRe’s Bonneau Retires as CEO; Meyenhofer to Take the Reins
PartnerRe Ltd. announced that Jacques Bonneau will retire from the company effective April 1, 2024. Philippe Meyenhofer will succeed him as chief executive officer and ...
Industry News
Insured Price Tag for Natural Disasters Was $95B in 2023 With Economic Cost of $250B
Natural catastrophes in 2023 caused global economic losses of $250 billion, with insurers and reinsurers paying $95 billion of that amount, according to Munich Re.
CMT Study Reveals Significant Link Between Telematics Program Engagement and Crash Reductions
User engagement in telematics programs plays a crucial role in reducing road risk, reveals a new study from Cambridge Mobile Telematics (CMT).
Supreme Court to Hear Challenge to EPA’s ‘Good Neighbor’ Air Pollution Plan
The U.S. Supreme Court late last month said it would hear a bid to block the Environmental Protection Agency from enforcing a federal regulation aimed at reducing ozone ...
J&J to Pay $700 Million to Settle States’ Talc-Marketing Probe
Johnson & Johnson has tentatively agreed to pay about $700 million to resolve an investigation by more than 40 U.S. states of claims that it wrongfully marketed its ...
More P/C Carriers With Less Surplus: Aon Ward Analysis
As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a ...
Curbing Legal System Abuse Among APCIA’s 2024 Advocacy Priorities
The American Property Casualty Insurance Association (APCIA) on Thursday announced its 2024 advocacy priorities, including a focus on curbing rampant legal system abuse ...
FEMA Adds Nearly $620M to Reinsurance Program
FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program's financial risk to the private reinsurance market as part of its 2024 reinsurance ...
Merck Settles Coverage Dispute With Insurers Over War Exclusion in NotPetya Attack
Merck & Co. Inc. has reportedly reached a deal with insurers over a closely watched coverage dispute related to a massive cyber attack in 2017. The New Jersey Supreme Court in July 2023 agreed to ...