Leading global specialist insurer Beazley has announced the launch of an online incident response platform for US cyber policyholders. Leveraging technology to deliver more secure incident resolution, this platform will serve as a central location to monitor and manage incidents, and centralize communications between the policyholder, Beazley, and specialist service providers. The move comes as… Continue reading Beazley Puts Incident Response at the Heart of Its Cyber Strategy
Author: Farkas Laura
Judge in Surfside Collapse Lawsuit Agrees to Pay Condo Owners More for Property Loss
The judge overseeing the class-action lawsuit for the Surfside condo collapse said Tuesday he would increase the payout for condo owners whose homes were destroyed last summer. Miami-Dade Circuit Judge Michael Hanzman gave preliminary approval to pay the 136-unit owners of Champlain Towers South a total of $96 million, which he said was the appraised… Continue reading Judge in Surfside Collapse Lawsuit Agrees to Pay Condo Owners More for Property Loss
Price of Homeowners Insurance Jumps 34%
QuoteWizard®, a LendingTree company and one of the nation’s leading online insurance marketplaces, released their annual “State of Home Insurance” report. QuoteWizard found that the average price of home insurance has increased by as much as 34% in some states since 2021. QuoteWizard analyzed homeowners insurance rates from every major carrier in all 50 states.… Continue reading Price of Homeowners Insurance Jumps 34%
Auto Insurance Rate Hikes Erode Price Satisfaction, Drive Surge in Value Shopping
Auto insurers are caught between a rock and a hard place. On one side: runaway demand in used vehicles that drove prices up an average of 41% in 2021, pushing vehicle replacement and repair costs into uncharted territory. On the other: frustrated customers, disillusioned by the rate increases insurers have introduced to confront these rising… Continue reading Auto Insurance Rate Hikes Erode Price Satisfaction, Drive Surge in Value Shopping
Price Increases Moderated Slightly at the Beginning of 2022: CIAB
Premiums continued to increase in the first quarter of 2022, according to results from The Council of Insurance Agents & Brokers’ Commercial Property/Casualty Market Index, marking the 18th consecutive quarter of premium increases. However, there were signs that market conditions may have eased slightly this quarter. For example, the average increase in premiums across all… Continue reading Price Increases Moderated Slightly at the Beginning of 2022: CIAB
Prominent Texas Tax Lawyer Joins Alliant Insurance Services’ M&A Group
Alliant Insurance Services announces that James Chenoweth, former Partner of Gibson Dunn & Crutcher and Baker Botts, has joined the company in the Mergers & Acquisitions group. Chenoweth will specialize in providing tax, litigation and M&A risk solutions to private equity firms and corporate clients for their most challenging transactional risks. “James is an outstanding… Continue reading Prominent Texas Tax Lawyer Joins Alliant Insurance Services’ M&A Group
BOE Says Climate Transition Will Cost UK Banks, Insurers Billions
The Bank of England said UK banks and insurers face climate-related losses of £209 billion to almost £334 billion over the next three decades depending on how quickly the government acts to shift the economy toward net zero emissions. The UK central bank said the financial system is well placed to absorb those losses, though… Continue reading BOE Says Climate Transition Will Cost UK Banks, Insurers Billions
Appeals Court: Florida Law on Social Media Unconstitutional
A Florida law intended to punish social media platforms like Facebook and Twitter is an unconstitutional violation of the First Amendment, a federal appeals court ruled Monday, dealing a major victory to companies who had been accused by GOP Gov. Ron DeSantis of discriminating against conservative thought. A three-judge panel of the Atlanta-based 11th U.S.… Continue reading Appeals Court: Florida Law on Social Media Unconstitutional
AIG Releases Environmental, Social and Governance (ESG) Report
American International Group, Inc.today released its 2021 Environmental, Social and Governance (ESG) Report. The 2021 ESG Report builds upon AIG’s inaugural ESG Report published last year, which provided the company’s first holistic view of its efforts to support a more sustainable, equitable and prosperous future. Guided by AIG’s new Purpose and Values Statement, the Report’s… Continue reading AIG Releases Environmental, Social and Governance (ESG) Report
NAMIC Responds to Property Insurance Reform Package in Florida Special Session
Florida’s special session on the property insurance crisis is an opportunity for the Legislature to pass critical reforms to address some of the most pressing issues that have led to the current crisis in the state’s insurance market, the National Association of Mutual Insurance Companies said today. “The package, while not perfect, makes much-needed progress… Continue reading NAMIC Responds to Property Insurance Reform Package in Florida Special Session