Beazley has restructured its Large Commercial Property along with its Canadian and E&S Property Teams to create a single North American Commercial Property Team, supported by four regional hubs to make access simpler for brokers and create a single risk appetite approach and philosophy. Four new regional leaders have been appointed, with three internal appointments… Continue reading Beazley Strengthens Its North American Commercial Property Offering
Author: Farkas Laura
Washington Judge Overturns Insurance Rate Credit Scoring Ban
A judge on Friday overturned a Washington state rule prohibiting insurers from using credit scoring to set rates for auto, homeowner and renter insurance. Insurance Commissioner Mike Kreidler adopted the rule in February, immediately drawing a legal challenge from insurer groups. The rule, which was set to take effect March 4, was paused while the… Continue reading Washington Judge Overturns Insurance Rate Credit Scoring Ban
Today’s Cyber Insurance Market Needs Better Modeling, Policy Language
According to S&P Global Ratings, cyber insurance is the fastest-growing segment of the insurance market, but many insurers and reinsurers are increasingly unwilling to underwrite larger cyber risks. S&P notes in a new report, Cyber Risk in a New Era: The Rocky Road to a Mature Cyber-Insurance Market, that much of the growth in the… Continue reading Today’s Cyber Insurance Market Needs Better Modeling, Policy Language
Ohio Pension Fund Will Lead the Case Against Facebook
The state of Ohio’s largest public pension system will lead a class action lawsuit against Facebook. On Wednesday, a judge in the United States District Court for the Northern District of California named Ohio as the lead plaintiff in the investors’ case, which seeks to recoup millions of dollars in losses and compel CEO Mark… Continue reading Ohio Pension Fund Will Lead the Case Against Facebook
James River’s Q2 Net Income Down from Same Period 2021, but E&S Lines Show Improvement
James River Group Holdings Ltd. reported a $5 million net profit for the second quarter of 2022, down from $20.8 million in the same period last year. The adjusted net operating income for the quarter was $20 million, up from $18.8 million the previous year. The group combined ratio for the second quarter of 2022… Continue reading James River’s Q2 Net Income Down from Same Period 2021, but E&S Lines Show Improvement
Boy Scouts Ruling Threatens $250 Million Abuse Deal With Mormons
After a judge rejected a key provision of a deal the youth group signed with The Church of Jesus Christ of Latter-day Saints, the Boy Scouts of America may be forced to cut $250 million from its proposal to establish a trust fund for sex abuse victims. The complex ruling by US Bankruptcy Court Judge… Continue reading Boy Scouts Ruling Threatens $250 Million Abuse Deal With Mormons
Sandy Hook Families Raise Alarm Over New Infowars Bankruptcy
Families of Sandy Hook school shooting victims have quickly expressed concern about the latest legal maneuver by Infowars and its proprietor, Alex Jones. Free Speech Systems LLC, Infowars’ ultimate parent, filed for Chapter 11 bankruptcy on Friday, just months after three corporate entities linked to Jones did the same in an unsuccessful attempt to corral… Continue reading Sandy Hook Families Raise Alarm Over New Infowars Bankruptcy
Lemonade Lays Off Surprised Metromile Staff Following Acquisition
Lemonade reportedly laid off approximately 20% of Metromile’s staff shortly after acquiring the company. According to Forbes, 60 Metromile employees were let go just hours after Lemonade closed the $145 million deal. A former Metromile employee said “for most people, it came as a surprise…During the merger process, it was widely assumed that everyone would… Continue reading Lemonade Lays Off Surprised Metromile Staff Following Acquisition
Apartment Rental Market Shows Signs of Softening
Several market indicators show that after more than a year of record rises in apartment rents, growth is beginning to slow, which could help housing affordability and ease the rise in overall inflation. According to data firm CoStar Group, national average apartment rents increased 9.4 percent in the second quarter of 2022 compared to the… Continue reading Apartment Rental Market Shows Signs of Softening
Judge Rules Boy Scouts Must Change $2.7 Billion Sex Abuse Fund
A judge ruled that the Boy Scouts of America must revise their plan to establish the largest sexual abuse compensation fund in the United States in order to receive final court approval for the $2.7 billion proposal. The decision came after weeks of testimony from abuse experts, financial advisers, and insurance specialists about whether it… Continue reading Judge Rules Boy Scouts Must Change $2.7 Billion Sex Abuse Fund