Industry News
NAIC Passes Pet Insurance Model Act
The National Association of Insurance Commissioners (NAIC) has passed a Pet Insurance Model Act to establish appropriate regulatory standards for the growing pet insurance industry. "This model law ...
Executives on the Move at Liberty Mutual, USAA, Argo Group, AXA XL
Liberty Mutual has created two new leadership positions within Global Risk Solutions (GRS), its commercial and specialty (re)insurance unit. Effective Sept. 1, Crystal Ottaviano will join as GRS ...
The Latest Launches From BondExchange, SURE, Demex
BondExchange added another capability to its surety bond technology, introducing the BX Command Center for its agent partners. This update will allow agents to embed the BX underwriting and quoting ...
S.C. Joins 3 Other State Supreme Courts, Rules No Coverage for COVID-19 Shutdown
The South Carolina Supreme Court on Wednesday became the fourth state high court in the nation to rule that the virus that causes COVID-19 cannot cause a direct physical damage or loss covered by a ...
Reinsurance M&A Slows Amid Macroeconomic Risks, Higher Natural Disaster Claims
Mergers and acquisitions in the global reinsurance sector will be limited into 2023 amid investor concerns over macroeconomic risks and heightened catastrophe losses linked to climate change, ...
Florida’s Citizens Tops 1 Million Policies, Making It Largest in State
Florida's Citizens Property Insurance Corp., created by lawmakers as a last-resort option, has become the largest property insurer in the state with more than 1 million policies in force — and ...
Coalition to Now Offer Cyber Policies With Acquisition of Admitted Carrier
Coalition said it received regulatory approval and completed the acquisition of Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation. Digital Affect Insurance ...
Zurich Reports 25% Increase in H1 Operating Profit, Beating Expectations
Zurich Insurance Group reported a better-than-expected 25 percent rise in operating profit in the first half on strong performance across the board and announced a bumper 1.8 billion Swiss francs ...