U.S. life insurers’ commercial mortgage fundamentals have largely recovered since the pandemic, with stable property outlooks for hotel, office retail and multifamily sectors, Fitch Ratings says. However, the Fed’s monetary tightening and the current recession will pressure some sectors of commercial mortgages over the midterm, with consistently high inflation and rising interest rates negatively affecting… Continue reading U.S. Life Insurers’ Commercial Mortgages Stable Amid Growing Headwinds
Author: Farkas Laura
Lemonade Selects Mitchell’s Solutions to Support Entry into the $300 Billion U.S. Auto Insurance Market
Mitchell, an Enlyte company and leading technology and information provider for the Property & Casualty (P&C) claims and Collision Repair industries, today announced that Lemonade selected its claims workflow, automation and total loss solutions to support Lemonade Car, the insurer’s latest product offering. Mitchell’s solutions—which span auto physical damage and auto casualty—will help Lemonade streamline… Continue reading Lemonade Selects Mitchell’s Solutions to Support Entry into the $300 Billion U.S. Auto Insurance Market
Hagerty Acquires Broad Arrow Group
Hagerty (HGTY), a leading specialty insurance provider focused on the global automotive enthusiast market, announced it has entered into a definitive agreement to acquire all outstanding shares of Broad Arrow Group, which specializes in the transactional segments of the collector car market. Earlier this year, Hagerty purchased approximately 40% of Broad Arrow Group (Broad Arrow)… Continue reading Hagerty Acquires Broad Arrow Group
Applied Underwriters Announces Promotional Partnerships with Professional Sports Icons
President Jamie Sahara of Applied Underwriters today announced new promotional partnerships with champion golfer Luke Donald, who was recently named European Captain for the Ryder Cup 2023, and racing legend Michael Andretti. Mr. Sahara stated that he and the Company’s Chairman, Steve Menzies, used personal and professional relationships to form the partnerships in support of… Continue reading Applied Underwriters Announces Promotional Partnerships with Professional Sports Icons
Chipotle Violated NYC Sick-Leave Laws, Agrees to Pay Over $20 Million to Settle Workplace Case
New York City announced that it had reached a settlement with the fast-food chain Chipotle Mexican Grill over violations of worker protection laws, the largest settlement of its kind in the city’s history. The strike, which affects approximately 13,000 workers, sends a message “that we will not stand by when workers’ rights are violated,” said… Continue reading Chipotle Violated NYC Sick-Leave Laws, Agrees to Pay Over $20 Million to Settle Workplace Case
Ransomware, Email Compromise Are Top Security Threats While Deepfakes Increase
While ransomware and business email compromise (BEC) are the most common causes of security incidents for businesses, geopolitics and deepfakes are becoming more prevalent, according to reports from two leading cyber security firms. According to VMware’s 2022 Global Incident Threat Response Report, there is a steady increase in extortionate ransomware attacks and BEC, as well… Continue reading Ransomware, Email Compromise Are Top Security Threats While Deepfakes Increase
J&J to End Global Sales of Talc-Based Baby Powder
Johnson & Johnson said on Thursday that it will stop selling talc-based baby powder globally in 2023, more than two years after it stopped selling the product in the United States. “As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio,” the company… Continue reading J&J to End Global Sales of Talc-Based Baby Powder
Ryan Specialty Posts 22% in Organic Revenue Growth for Q2
Ryan Specialty Group, an international specialty insurance firm, reported revenue of $491.3 million in the second quarter of 2022, a 26% increase over the same period last year, including 22.3% organic revenue growth. According to the firm, the high rate of organic revenue growth was driven by new client wins, expanded relationships with existing clients,… Continue reading Ryan Specialty Posts 22% in Organic Revenue Growth for Q2
Veteran Benefits Consultant Eric Kaufman Joins Alliant Insurance Services’ Los Angeles Team
Veteran employee benefits consultant Eric Kaufman has joined Alliant Insurance Services as Senior Vice President within its Employee Benefits Group. Based in Los Angeles, Kaufman joins Alliant with extensive experience designing and deploying strategic employee benefits and retirement solutions to a diverse client base. “Eric’s diverse benefits background and continued strength advising clients across all… Continue reading Veteran Benefits Consultant Eric Kaufman Joins Alliant Insurance Services’ Los Angeles Team
Buying Cyber Is More Challenging for Businesses as Attacks Proliferate and Costs Rise
Obtaining or renewing cyber insurance has become costly and time-consuming for many businesses. The cost of cyber insurance has risen in the last year as the number of ransomware hacks and other cyberattacks has increased. Given these realities, insurers are becoming more stringent when it comes to renewing or granting new or additional coverage. They… Continue reading Buying Cyber Is More Challenging for Businesses as Attacks Proliferate and Costs Rise