Acrisure announced the formation of its New England Region, encompassing its businesses in Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont.
Author: Annie George
California FAIR Plan Exec: Carriers ‘One Event Away’ from Assessment as Exposure Soars
California FAIR Plan has $336 billion of property exposure on its books, backed up by just $200 million of capital and $700 million of cash on hand, according to President Victoria Roach.
Chrysler to Recall About 286,000 U.S. Vehicles Over Airbag Inflator Issue, NHTSA says
Chrysler is recalling nearly 286,000 vehicles in the United States over a manufacturing defect that might cause the side curtain airbag inflators to rupture, the National Highway Traffic Safety Administration (NHTSA) said on Friday.
Best’s Rankings: U.S. Property/Casualty Industry NPW Rises 11.2% to $852.92B
Total U.S. property/casualty net premiums written rose 11.2% to $852.92 billion in 2023, according to a new Best’s Rankings.
Aon Launches Climate Risk Monitor to Drive Improved Risk Management & Renewals Decision Making
Global reinsurance broker Aon has launched its Climate Risk Monitor, a tool to help clients visualize and understand their exposures to physical climate risk for better business decisions.
Challenges to SEC’s Climate Rules Sent to Appeals Court
A U.S. judicial panel on Thursday consolidated at least nine lawsuits challenging the U.S. Securities and Exchange Commission’s new rules requiring public companies to report climate-related risks in a venue favored by Republican-led states and a business group.
Supreme Court Justices Hear Insurer Case in Asbestos Bankruptcy
Justices of the U.S. Supreme Court questioned Kaiser Gypsum about why it seemingly doesn’t want its insurer, which objects to the defunct cement maker’s Chapter 11 plan, to be heard in court.
Utility-Caused Wildfires Are Becoming a National Problem
Large wildfires started by power lines and other utility equipment were, not that long ago, considered something that happened mostly in California. But these disasters are increasingly happening in many more places as forces turbocharged by climate change like extreme heat and drought wreak havoc on electric grids that were not built or upgraded to withstand them.
Florida Condo Listings Soar As Sales Sink Amid High Insurance Rates, HOA Fees
Condo owners in the Sunshine State are trying to unload units, as insurance costs and maintenance fees, like an HOA, make it too expensive. It’s led to a 30% jump in condo listings sitting on the market from that just this time last year in Florida.
Chubb Launches Global Transactional Risk Platform to Grow its Footprint Internationally
Chubb today announced the launch of a global transactional risk platform to provide transactional risk liability insurance products across international markets.