The Treasury Department’s Federal Insurance Office and the Cybersecurity and Infrastructure Security Agency should consider the danger of creating counterproductive incentives while examining the need for a federal cyber insurance program, according to the Government Accountability Office. “CISA and FIO should jointly assess the extent to which risks to critical infrastructure from catastrophic cyber incidents… Continue reading GAO: Potential Federal Cyber Insurance Program Should Avoid Moral Hazard
Author: Farkas Laura
ReSource Pro Acquires Boston-based InsurTech Startup towerIQ
ReSource Pro, a market leader in business process solutions for the insurance industry, has successfully completed its acquisition of towerIQ, a P&C insurance focused technology platform designed to streamline workflows and capture the market’s most valuable data. The addition of towerIQ will deliver on ReSource Pro’s core mission of insurance transformation by allowing ReSource Pro… Continue reading ReSource Pro Acquires Boston-based InsurTech Startup towerIQ
S&P Expects Inflation to Push P/C Combined Ratio Over 100 in 2022
S&P Global Market Intelligence predicted in its latest U.S. Property & Casualty Insurance Market Report that inflation will send the property/casualty insurance industry to its first unprofitable year since 2017 with an expected combined ratio above 100%. Penned by lead insurance analyst Tim Zawacki, S&P in in its report forecast a combined ratio of 100.4%… Continue reading S&P Expects Inflation to Push P/C Combined Ratio Over 100 in 2022
High Court Limits Power of EPA, Other Regulatory Agencies
The Supreme Court on Thursday curtailed the Environmental Protection Agency’s powers to restrict greenhouse-gas emissions from power plants, in a decision that could limit the authority of government agencies to address major policy questions without congressional approval. Elaborating on earlier decisions, the high court said federal agencies need explicit authorization from Congress to decide issues… Continue reading High Court Limits Power of EPA, Other Regulatory Agencies
Stealth Partner Group Releases June 2022 Stop-Loss State of the Market Report
Stealth Partner Group, an Amwins company and premier stop-loss general agency, released its State of the Market report, providing up-to-date market intelligence on health care and employer stop-loss trends, effects of COVID-19 on the overall market, insights on high-cost claims conditions, suggested cost-saving considerations and benchmarking data from Stealth’s book of business. “As more organizations… Continue reading Stealth Partner Group Releases June 2022 Stop-Loss State of the Market Report
Alliant Insurance Services Named One of America’s Best Employers for Diversity by Forbes
Alliant Insurance Services has been named to Forbes’ prestigious list of America’s Best Employers for Diversity in 2022. Forbes and Statista, Inc. reviewed more than 10,000 organizations, and Alliant ranked among the top 500 companies for diversity and inclusion in the nation. “Alliant takes a highly proactive approach to providing significant and sustainable career growth… Continue reading Alliant Insurance Services Named One of America’s Best Employers for Diversity by Forbes
Verisk and Loveland Innovations Integration Expedite Property Claims Scoping Process
Insurance adjusters and contractors can now expedite the estimate creation process with a new integration between Verisk’s claims-handling solutions, Xactimate® and XactAnalysis®, and Loveland Innovations’ IMGING® property inspection data platform. This new integration enables insurance claim adjusters and contractors to combine IMGING’s property data capture and analysis technology with Verisk’s claims-handling solutions. The result is… Continue reading Verisk and Loveland Innovations Integration Expedite Property Claims Scoping Process
Record Home Prices Rev Up the Single-Family Rental Market
Higher borrowing rates and high housing prices are causing many buyers to give up. This is good news for owners of single-family rental properties. Prospective home buyers are confronted with affordability issues that are likely to worsen before they improve. Existing-home sale prices hit a new high of $407,600 in May, while sales fell for… Continue reading Record Home Prices Rev Up the Single-Family Rental Market
Behind the Wheel of Transportation Insurance
Transportation insurance programs provide a range of standard and unique business insurance coverages for transportation-related businesses. Transportation is a massive industry with many companies providing services that transport cargo and passengers using planes, trains, trucks, and buses to carry people. Transportation infrastructure includes airports, seaports, train stations, and highway rest areas. Companies fall into two… Continue reading Behind the Wheel of Transportation Insurance
Marsh Adds Beazley to ESG Risk Rating Roster
Marsh, the world’s leading insurance broker and risk advisor, announced that specialist insurer Beazley is to offer clients that opt in to Marsh’s Environmental, Social, and Governance (ESG) Risk Rating (ERR), global access to additional capacity through its Lloyd’s of London Syndicate 4321, subject to the ERR score meeting Beazley’s threshold. Launched in March, Marsh’s… Continue reading Marsh Adds Beazley to ESG Risk Rating Roster