Longtime retirement consultant has expertise in defined contribution plans, executive benefits, and health and wellness plans Alliant Retirement Consulting, a division of Alliant Insurance Services, has hired Kathy Aicher as Vice President within its Los Angeles office. The longtime retirement consultant will provide a full range of retirement solutions and services to a diverse client… Continue reading Kathy Aicher Joins Alliant Retirement Consulting in Los Angeles
Author: Farkas Laura
Cyber Insurance Provider Coalition Names First CFO as It Looks toward the Future
Coalition Inc., a cybersecurity insurance provider, appointed its first finance chief after raising $250 million in a Series F round. Jim Young, based in San Francisco, began his new role as chief financial officer on July 25. Mr. Young was most recently the CFO of agricultural technology firm Indigo Ag. Prior to that, he was… Continue reading Cyber Insurance Provider Coalition Names First CFO as It Looks toward the Future
NJ Gov Signs Car Insurance Law to Raise Minimum Liability Limits, Will Impact 1.1 Million Drivers
More than 1 million New Jersey drivers will most likely pay more for car insurance after Gov. Phil Murphy signed a contentious bill into law on Friday. The legislation will raise the minimum amount of liability insurance in the Garden State from $15,000 to $25,000 beginning in 2023, and to $35,000 beginning in 2026. According… Continue reading NJ Gov Signs Car Insurance Law to Raise Minimum Liability Limits, Will Impact 1.1 Million Drivers
Earnings for AIG’s P&C Business Improves in 2Q
American International Group Inc. (AIG) reported second-quarter earnings that showed continued improvement in its large property-casualty insurance operations. Stock market volatility, however, has pushed back an initial public offering of its life-and-retirement business which was scheduled for midyear. The global insurance conglomerate had planned to sell a portion of its stake in the unit in… Continue reading Earnings for AIG’s P&C Business Improves in 2Q
Going Strong: Independent Agents Place 62% of All P&C U.S. Premiums
According to a new report from the Independent Insurance Agents and Brokers of America (the Big I), independent insurance agents place approximately 62% of all P&C premiums written in the United States. Big ‘I’s Market Share Report is released every two years and can help users understand the current insurance marketplace and opportunities and evolving… Continue reading Going Strong: Independent Agents Place 62% of All P&C U.S. Premiums
Munich Re Stays on Track for 2022 Profit Target, But Posts 31% Drop in 2Q Net Profit
Munich Re reported a 31% drop in net profit in the second quarter due to write-downs on stock investment losses on Tuesday, but it maintained its profit target for 2022. Despite this, the world’s largest reinsurer warned that its forecasts and targets were subject to “considerable uncertainty” due to the fragile economy, volatile markets, the… Continue reading Munich Re Stays on Track for 2022 Profit Target, But Posts 31% Drop in 2Q Net Profit
Market Volatility Hurts Buffett’s Berkshire Hathaway’s 2Q Earnings
Earnings at Berkshire Hathaway Inc. fell in the second quarter as market volatility weighed on the company’s massive stock portfolio. The Omaha, Nebraska-based company, which owns companies ranging from insurer Geico to railroad BNSF Railway to sportswear maker Brooks Running, reported a $43.8 billion loss, or $29,754 per class A share equivalent. In the previous… Continue reading Market Volatility Hurts Buffett’s Berkshire Hathaway’s 2Q Earnings
FM Global Offers First-of-its-kind ‘Resilience Credit’ to Help Policyholders
FM Global policyholders, which include one out of every three Fortune 500 companies and similar-sized organizations worldwide, will receive approximately $300 million in a first-of-its-kind’ resilience credit,’ providing them with additional funds to invest in climate resilience solutions. According to FM Global data, the credit has the potential to help those organizations reduce total loss… Continue reading FM Global Offers First-of-its-kind ‘Resilience Credit’ to Help Policyholders
Some Properties Are Getting Too Costly to Insure Amid Climate Change
As climate change threatens the United States with more natural disasters, it’s becoming more expensive for Americans to insure their homes — and the situation is only expected to worsen, according to experts. “These things are happening more frequently, and they’re causing more damage,” said Jeremy Porter, chief research officer at First Street Foundation, a… Continue reading Some Properties Are Getting Too Costly to Insure Amid Climate Change
Florida P&C Insurer Weston Heads for Insolvency Following Rating Downgrade
Weston Property & Casualty Company, a Florida-focused property insurance carrier, is now on the verge of insolvency after the regulator initiated delinquency proceedings against it. Weston, the property insurer in which Hudson Structured Capital Management (investing as HSCM Bermuda) has a majority stake, lost its rating earlier this week after Demotech withdrew it and downgraded… Continue reading Florida P&C Insurer Weston Heads for Insolvency Following Rating Downgrade