WTW has announced the launch of the newest version of its market-leading Radar software. Radar 4.14 now features a fully integrated Python capability, allowing insurers simultaneously to benefit from the advanced pricing capabilities of Radar and the power of innovative open source software, all within a well-governed environment. At the same time that collaboration between… Continue reading WTW Releases New Version of Radar Pricing Software
Author: Farkas Laura
New Flood Insurance Rate Renewals Begin on April 1
The second phase of the transition to the Federal Emergency Management Agency’s (FEMA) Risk Rating 2.0 begins on April 1, when homeowners who currently have flood insurance will begin to see the revised rates as their policies are renewed. FEMA is transforming the way it calculates premiums for flood insurance policies that are made available… Continue reading New Flood Insurance Rate Renewals Begin on April 1
Uber Makes Nice with Competitor, Will List All NYC Taxis on Its App
Uber Technologies Inc. has reconciled with a former adversary. The company has agreed to list all New York City taxis on its app, an agreement that could alleviate the ride-hailing giant’s driver shortage and temper high fares while directing more business to cabdrivers, whose livelihoods have been harmed by the rise of car-sharing apps and… Continue reading Uber Makes Nice with Competitor, Will List All NYC Taxis on Its App
Brittany Thune Lindberg Joins Alliant as Vice President, Mergers and Acquisitions
As Alliant continues its nationwide acquisitions campaign, the firm has hired Brittany Thune Lindberg as Vice President, Mergers and Acquisitions. The longtime insurance association development executive will assist in directing Alliant’s acquisitions pipeline during a time of significant growth and expansion for the company. Thune Lindberg joins the Alliant M&A Development team, which is led… Continue reading Brittany Thune Lindberg Joins Alliant as Vice President, Mergers and Acquisitions
EEOC Receiving Influx of COVID-19 Related Claims
The U.S. Equal Employment Opportunity Commission (EEOC) has received thousands of claims related to the COVID-19 pandemic. The majority of these claims are related to disability discrimination and accommodations. There also has been a surge of claims related to employer-mandated vaccines. Since the beginning of the pandemic through the end of 2021, the EEOC received… Continue reading EEOC Receiving Influx of COVID-19 Related Claims
Target Wins Data Breach Coverage from Chubb In Reversal
A federal district court reversed its 2021 decision and ruled that Target Corp. can recover settlements paid to banks in connection with a 2013 data breach under its general liability policy from Chubb Ltd. units. After Target filed a motion to alter or amend its judgment in the case a month later, the U.S. District… Continue reading Target Wins Data Breach Coverage from Chubb In Reversal
Biden’s Russia Cyber Warning Confuses Ill-Prepared Businesses
A day after US President Joe Biden issued a stark warning that a Russian cyberattack “is coming,” members of his administration convened a three-hour conference call with approximately 13,000 people representing businesses, government agencies, and other organizations to discuss the potential threat. The discussion highlighted the difficulties the Biden administration faces in protecting the country… Continue reading Biden’s Russia Cyber Warning Confuses Ill-Prepared Businesses
TWIA Board Directs Reinsurance Purchase for $4.2B in Total 2022 Hurricane Season Funding
The Texas Windstorm Insurance Association (TWIA) Board of Directors directed Association staff to secure total funding for the 2022 hurricane season in the amount of $4.236 billion through a combination of catastrophe reinsurance (cat bonds and/or traditional reinsurance) and the funding provided in TWIA’s enabling statute. The Board received a presentation from Aon on catastrophe… Continue reading TWIA Board Directs Reinsurance Purchase for $4.2B in Total 2022 Hurricane Season Funding
Jimcor Announces New Underwriter: Commercial Lines in Georgia
Jimcor Agency, Inc. a national wholesale broker & MGA announced a new Underwriter: Commercial Lines in Georgia with the hire of Michael Becotte. Mike Becotte will be working out of their Cumming, GA office focused on Commercial Lines in the Southeast. He was most recently with Southern Insurance Underwriters prior to joining Jimcor. His career… Continue reading Jimcor Announces New Underwriter: Commercial Lines in Georgia
Companies Brace for Higher Compliance Costs as SEC Proposes Climate Disclosures
Companies will likely face higher compliance costs and new disclosure challenges as a result of a new proposal requiring firms to provide estimates of their greenhouse gas emissions and climate change risks to their businesses, according to finance executives. Many companies provide information on climate risks when disclosing material information, but investors frequently struggle to… Continue reading Companies Brace for Higher Compliance Costs as SEC Proposes Climate Disclosures