The Insurance Industry Charitable Foundation (IICF), a nonprofit organization dedicated to helping communities and enriching lives, raised nearly $1.3 million at its 15th Anniversary Northeast Division Benefit Event on Tuesday evening, December 7, at the Ziegfeld Ballroom in New York City. The sold-out event gathered attendees to celebrate insurance industry philanthropy and volunteerism while raising… Continue reading IICF Raises Nearly $1.3M to Support Nonprofits at Sold-out Annual Northeast Benefit Event
Author: Farkas Laura
Insurance Wholesaler Transatlantic Underwriters Adds Angela Harrison to the Fleet Transportation Team
Transatlantic Underwriters (TAU), a wholesale insurance broker specializing in the placement of Commercial Auto Liability, Auto Physical Damage and Motor Truck Cargo coverage, is pleased to announce that Angela Harrison will be joining the team as Senior Fleet Underwriter. Harrison specializes in fleet transportation risks, including trucking, business, and public auto. In her new position,… Continue reading Insurance Wholesaler Transatlantic Underwriters Adds Angela Harrison to the Fleet Transportation Team
Flood Insurance Costs Rise in Areas Once Deemed Lower Risk
In the last year, the southwestern Louisiana city of Lake Charles has been hit by two hurricanes, heavy rains that sent water gushing down streets, and a deep freeze that caused pipes to burst. However, because the cost of his flood insurance is rising, Tommy Eastman may eventually drop coverage on his four-bedroom home, which… Continue reading Flood Insurance Costs Rise in Areas Once Deemed Lower Risk
Chubb Announces Two Personnel Appointments
Chubb Limited has announced that Fran O’Brien has been appointed Deputy Chief Risk Officer. Currently, Senior Vice President, Chubb Group and Division President, North America Personal Risk Services, Ms. O’Brien in her new global role will help support all Chubb’s enterprise risk management activities including strategy, management framework and related processes across the company. Ana… Continue reading Chubb Announces Two Personnel Appointments
Insurance Rates Soar to Cover M&A Deals
The cost of insurance to cover M&A problems has nearly doubled in just two years, according to underwriters and brokers, following a surge in global dealmaking during the COVID-19 pandemic. Potential buyers purchase insurance to protect themselves against issues such as a target’s misrepresentation of its performance or order book, whereas sellers purchase insurance to… Continue reading Insurance Rates Soar to Cover M&A Deals
SEC Chairman Considering Tougher Rules for SPACs
The chairman of the Securities and Exchange Commission (SEC) said on Thursday that the agency is considering toughening rules governing how underwriters, boards of directors, and sponsors of Special Purpose Acquisition Companies (SPAC) structure fees, issue projections, and disclose conflicts. In a keynote address to investor advocates, SEC Chairman Gary Gensler stated that the new… Continue reading SEC Chairman Considering Tougher Rules for SPACs
BRP Acquires Texas-Based Arcana Insurance Services
BRP Group, Inc. announced that Millennial Specialty Insurance, LLC (“MSI”), an indirect subsidiary of BRP Group, has acquired substantially all of the assets of Arcana Insurance Services, LP (“Arcana”), a Dallas, Texas-based national insurance agency and program administrator, focused on better serving the real estate investor and property management markets. As a result of this… Continue reading BRP Acquires Texas-Based Arcana Insurance Services
Outage at Amazon Web Services Disrupts Some Delivery Services
On Tuesday, Amazon’s cloud computing unit experienced an outage that caused some websites and services to go down. According to a notice on Amazon Web Services’ status page, the company was having issues with certain APIs and the AWS Management Console. Because the problems are affecting AWS’ main US-East-1 region, which is hosted in northern… Continue reading Outage at Amazon Web Services Disrupts Some Delivery Services
Young Insurance Professionals Want Action from Employers on Climate Change: Survey
A recent survey of 345 insurance employees and risk management students found that the majority are deeply concerned about climate change and want the industry to address it. Over half of respondents agreed that climate action should include reducing or ending fossil fuel underwriting and investments. The survey was conducted by Insurance Nerds and Insure… Continue reading Young Insurance Professionals Want Action from Employers on Climate Change: Survey
Amwins Global Risks Names New CEO
Amwins Global Risks, the international arm of global specialty insurance broker Amwins and one of the largest independent wholesale brokers in London, announced today the appointment of Nate Mathis as chief executive officer. Mathis was appointed as interim CEO in September after three years as chief operating officer. James Drinkwater has been named executive chair… Continue reading Amwins Global Risks Names New CEO