AmTrust Financial Services, Inc. announced today that it has acquired DUAL North America’s middle market management liability business, including its underwriting team and portfolio renewal rights. As part of the deal, seven DUAL executives will join AmTrust’s EXEC unit. “This acquisition represents an excellent, complementary addition to an already strong business at AmTrust,” said Jim… Continue reading AmTrust Acquires DUAL North America’s Middle Market Management Liability Practice
Author: Annie George
Industry Leaders See Strong Reinsurance Demand Ahead of Jan Renewals
Executives and leaders from the insurance and reinsurance industries are seeing strong demand for protection and have urged the industry to work together to leverage its strengths in such a competitive market. Senior industry leaders discussed how the insurance and reinsurance industries can provide the needed capacity and solutions to address the evolving exposure environment,… Continue reading Industry Leaders See Strong Reinsurance Demand Ahead of Jan Renewals
CMS Increasing Scrutiny of Nation’s Poorest-Performing Nursing Homes
The Centers for Medicare & Medicaid Services (CMS) is increasing scrutiny and oversight of the country’s worst-performing nursing facilities in an effort to improve the care they provide as soon as possible. CMS will toughen requirements for program completion and increase enforcement actions against facilities that fail to demonstrate improvement in a series of revisions… Continue reading CMS Increasing Scrutiny of Nation’s Poorest-Performing Nursing Homes
Inflation Pressures, Mounting Accidents, Flooding From Ian Hit Allstate, Other Insurers
The nation’s largest auto insurers, already struggling with high inflation and mounting accidents, are now facing losses from vehicles flooded by Hurricane Ian. Allstate Corp. announced Wednesday that it would take a $875 million charge to boost its claims reserves in its upcoming third-quarter earnings, primarily related to its auto-insurance business, as a result of… Continue reading Inflation Pressures, Mounting Accidents, Flooding From Ian Hit Allstate, Other Insurers
Florida CFO Plans to Introduce Legislation to Prevent Fraud
In the aftermath of Hurricane Ian, Florida’s Chief Financial Officer is calling for a major overhaul in the way insurance is handled in order to prevent fraud. State CFO Jimmy Patronis has stated that he intends to introduce new legislation in the upcoming session to address issues ranging from bad public adjusters to assisting consumers… Continue reading Florida CFO Plans to Introduce Legislation to Prevent Fraud
SIAA’s National Business Meeting Draws More than 300
Professionals from the insurance industry gathered in Boston for the SIAA (Strategic Insurance Agency Alliance) semi-annual business meeting. This was SIAA’s 49th such national business meeting, held from October 4th to 6th at the Marriott Copley Place in Boston, MA. Participants from SIAA, SIAA’s 48 regional master agencies, and executives from top insurance companies were… Continue reading SIAA’s National Business Meeting Draws More than 300
Insurance Professionals Give Back During IICF’s Week of Giving
The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, celebrated the insurance industry’s year-long commitment to charitable giving and volunteerism with its annual Week of Giving. Thousands of insurance professionals in the United States and the United Kingdom dedicated themselves to events and service projects designed to… Continue reading Insurance Professionals Give Back During IICF’s Week of Giving
Cyber Insurance Market Shows Signs of Stability, Says Marsh
Rate hikes are decreasing on average, and there are signs of stabilization, according to Gregory Eskins, cyber product leader at Marsh in the United States and Canada. Additionally, the risk management postures of corporations are improving. Insurers are establishing clearer underwriting standards, which can strengthen customer controls; and coordination between the public and private sectors… Continue reading Cyber Insurance Market Shows Signs of Stability, Says Marsh
Judge Throws Out COVID-19 BI Claims Against Erie Insurance
A federal judge in western Pennsylvania has ruled that losses from the COVID-19 pandemic and related government shutdown orders do not trigger coverage under the business-income interruption clauses in Erie Insurance’s commercial “all risk” property policies. Businesses in eight states and the District of Columbia had their individual and potential class-action cases consolidated into a… Continue reading Judge Throws Out COVID-19 BI Claims Against Erie Insurance
Marsh & McLennan Q3 Results Highlight Risk & Insurance Sales Strength
Marsh & McLennan third-quarter earnings on Thursday topped the average Wall Street consensus as its Risk and Insurance Services segment experienced solid growth during the period. “Our advice and solutions remain in high demand as our clients navigate an uncertain and volatile macroeconomic and geopolitical landscape,” said President and CEO Dan Glaser, who will retire… Continue reading Marsh & McLennan Q3 Results Highlight Risk & Insurance Sales Strength