Lloyd’s of London, the world’s oldest insurance market, said on Wednesday that it was working closely with British and international governments and regulators to implement global sanctions against Russia. “Lloyd’s supports and remains focused on the delivery of a global sanctions regime against the Russian state,” Lloyd’s said. The Financial Times reported late on Tuesday… Continue reading Lloyd’s of London Says Working with Regulators to Implement Russia Sanctions
Author: Farkas Laura
Contractors Sue Over ‘Assignment of Benefits’ in Florida Insurance Law
Less than a week after Florida lawmakers rushed to make property-insurance changes, a contractors group Tuesday filed a constitutional challenge that targets a new restriction on attorney fees in lawsuits against insurance companies. The Restoration Association of Florida and Air Quality Assessors, LLC, an Orlando firm that does work such as mold testing and leak… Continue reading Contractors Sue Over ‘Assignment of Benefits’ in Florida Insurance Law
A Streak of Hurricanes Is Set to Persist in the Atlantic
The pattern that’s emerged over the last decade is devastatingly clear: Atlantic hurricanes are becoming more violent, frequent and costly. This year is forecast to add more even more evidence. The 2022 season, which officially kicks off Wednesday, is expected to be the record seventh straight year with an above-average number of storms that reach… Continue reading A Streak of Hurricanes Is Set to Persist in the Atlantic
Europe Seeks G-7 Coordination on Russian Oil Insurance Ban
According to people familiar with the matter, the European Union is working with some Group of Seven members to coordinate a ban on providing the insurance services required to ship Russian oil anywhere in the world, a move that could further limit Moscow’s ability to finance its war in Ukraine. As part of the effort,… Continue reading Europe Seeks G-7 Coordination on Russian Oil Insurance Ban
Jackie Dowd Joins Alliant Insurance Services’ Employee Benefits Group in New York
Jackie Dowd has joined Alliant Insurance Services as Senior Vice President within its Employee Benefits Group in New York. Dowd joins Alliant with an extensive background working with complex employer groups and will design and implement strategic employee benefits solutions to enhance business outcomes and increase productivity for a diverse client base. “Jackie’s experience delivering… Continue reading Jackie Dowd Joins Alliant Insurance Services’ Employee Benefits Group in New York
EU Agrees on Insurance Ban for Ships Carrying Russian Oil
The European Union’s pledge to ban most Russian oil is forcing it to rewire an economy built on cheap Russian fuel—and threatens to deprive Moscow of revenue from its most valuable export. Senior EU officials are expected to approve the oil embargo in the coming days, intensifying the bloc’s economic retaliation against Russia for the… Continue reading EU Agrees on Insurance Ban for Ships Carrying Russian Oil
Democrats Push to Extend Health-Insurance Subsidies Amid Rising Premiums this Fall
Millions of Americans will learn this fall that their health-insurance premiums will be significantly raised, prompting a lobbying campaign by some Democratic lawmakers, hospitals, and insurers to persuade Congress to provide financial assistance. The temporary expansion of subsidies to lower the cost of plans sold on the Affordable Care Act exchange in the pandemic relief… Continue reading Democrats Push to Extend Health-Insurance Subsidies Amid Rising Premiums this Fall
Ransomware Threat Rises: Verizon Report
The Verizon Business 2022 Data Breach Investigations Report (2022 DBIR) examines an unprecedented year in cybersecurity history, and sheds light on some of the leading issues affecting the international cybersecurity landscape. Of particular concern is the alarming rise in ransomware breaches, which increased by 13 percent in a single year – representing a jump greater… Continue reading Ransomware Threat Rises: Verizon Report
Gallagher Re: Reinsurance Premiums Rose 11% Q1
Premium growth remained positive with an average increase of 11% in Q1 supported by continued favorable pricing for commercial lines and reinsurance business, according to Gallagher Re. Underwriting results were strong with (re)insurers posting a 94% combined ratio (Q1 21: 96%), driven by favorable rates and a lower natural catastrophe loss impact compared to last… Continue reading Gallagher Re: Reinsurance Premiums Rose 11% Q1
Insurance Premiums Doubling for Some Aviation, Marine Businesses
Insurance premiums are doubling or more for some aviation and marine businesses particularly exposed to the war in Ukraine, increasing costs for airline and shipping firms, industry sources say. Global commercial insurance premiums rose 11 percent on average in the first quarter, according to insurance broker Marsh, which said the war was putting upward pressure… Continue reading Insurance Premiums Doubling for Some Aviation, Marine Businesses