Lloyd’s of London said that it had more than doubled its profit in the first six months of the financial year as it boasted of a “bulletproof balance sheet”.
Author: Annie George
Florida, Other States Continue Fight Over Higher Flood Insurance Rates
Florida and other states are trying to fend off an attempt by the Biden administration to end a lawsuit challenging changes to the National Flood Insurance Program that have led to higher premiums for many property owners.
Lloyd’s in Talks with UN Over New Black Sea Grain Insurance Cover
Lloyd’s of London is in talks with the United Nations over providing insurance cover for Ukrainian grain shipments if a new Black Sea corridor deal can be reached, its CEO John Neal told Reuters on Thursday.
Hard Market, Inflation Continue to Boost Agency Organic Growth, Says Reagan Consulting
The independent insurance agent and broker channel posted organic growth of 11.2% in the second quarter of 2023 — once again exceeding its previous high-water mark of 11.1%, set in Q1 2023. Moreover, profit margins were high.
Home Insurers Cut Natural Disasters from Policies As Climate Risks Grow
In the aftermath of extreme weather events, major insurers are increasingly no longer offering coverage that homeowners in areas vulnerable to those disasters need most.
US Steps Toward Forcing Recall of 52 Million Air Bag Inflators
The U.S. government is taking a big step toward forcing a defiant Tennessee company to recall 52 million air bag inflators that could explode, hurl shrapnel and injure or kill people.
Health Insurance Costs Are Taking Biggest Jumps in Years
Health-insurance costs are climbing at the steepest rate in years, walloping businesses and their workers.
SIAA Hosts IA Evolve, a Virtual Innovation Event for Insurance Agents
SIAA announced they will hold their annual IA Evolve virtual event on September 12 from 11 a.m. until 5 p.m. Eastern.
Verisk Estimates Industry Insured Losses from Hurricane Idalia to Range from $2.5 Billion to $4 Billion
Verisk, a leading global data analytics and technology provider, estimates industry insured losses to onshore property for Hurricane Idalia will range from $ =2.5 billion to $4 billion.
Tx Regulators Place Porch’s Insurance Subsidiary Under Supervision Amid Vesttoo Fallout
Fallout from the bankruptcy of reinsurer Vesttoo Ltd. in the wake of fraud allegations are rippling through the insurance industry, with Porch Group announcing Tuesday that its insurance subsidiary, Homeowners of America Insurance Company, has been placed under temporary supervision by Texas regulators.