Brown & Brown, a global insurance brokerage, has agreed to acquire the general insurance operating entities of BdB Limited companies, a specialist wholesale broker. The transaction, announced today by J. Scott Penny, chief acquisitions officer of Brown & Brown and the BdB management ownership team, is expected to close in the second quarter of this… Continue reading Brown & Brown to Acquire Wholesale Broker BdB’s General Insurance Operations
Author: Farkas Laura
Beazley’s Digital Division Starts Trading
Beazley has announced that its global digital trading division, Beazley Digital, is up and running. The new hub brings together underwriting, claims, technology and operational experts into one cross-functional team, to deliver seamless digital access and services to a range of high volume, lower premium products for its global broking partners. Ian Fantozzi, CEO of… Continue reading Beazley’s Digital Division Starts Trading
HOVER and Verisk Streamline Property Claims with New Integration
Insurance carriers, adjusters, restorers and policyholders will be able to streamline claims estimating through the integration between Verisk’s claims-handling solutions, Xactimate® and XactAnalysis®, and HOVER, the technology company that transforms smartphone photos of any property into a digital twin with valuable 3D data for insurance partners. Property professionals and policyholders can use the HOVER app… Continue reading HOVER and Verisk Streamline Property Claims with New Integration
China Suspected of Cyberattack on News Corp
News Corp was the target of a hack that gained access to emails and documents of some employees, including journalists, an incursion that the company’s cybersecurity consultant said was likely designed to gather intelligence for China’s benefit. According to an email sent to staff on Friday, the attack, discovered on Jan. 20, affected a number… Continue reading China Suspected of Cyberattack on News Corp
AI Could Cut Hiring Biases as Companies Look for Workers, Proponents Say
The use of artificial intelligence to assist companies in making sensitive decisions has long concerned US regulators, particularly because of the potential for it to amplify human bias. However, as labor shortages necessitate widespread recruitment efforts, AI proponents argue that the technology, far from being risky, could help companies make hiring decisions that are more… Continue reading AI Could Cut Hiring Biases as Companies Look for Workers, Proponents Say
AM Best Revises Outlooks to Negative for Kemper Corporation
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the property/casualty subsidiaries and affiliated insurance companies of Kemper Corporation. AM Best also has revised the outlooks to negative from stable and affirmed… Continue reading AM Best Revises Outlooks to Negative for Kemper Corporation
RPS Launches New Management Liability Product for Private Firms
Risk Placement Services (RPS) announced a partnership with Fortegra Specialty Insurance Co. on Thursday to provide management liability coverage to private companies. RPS, based in Rolling Meadows, Illinois, said in a statement that the coverage, which is available online, combines directors and officers, employment practices, and fiduciary liability coverages into a single policy. With a… Continue reading RPS Launches New Management Liability Product for Private Firms
Washington State Insurance Commissioner Adopts Rule Banning Credit Scores
Mike Kreidler, Washington’s Insurance Commissioner, has issued a temporary rule prohibiting insurers from using credit information to set auto, homeowner, and renters insurance rates. Kreidler issued an emergency rule in March 2021 to temporarily prohibit the use of credit scores, but it was overturned by a court last year. The new rule takes effect on… Continue reading Washington State Insurance Commissioner Adopts Rule Banning Credit Scores
MetLife’s Earnings Surge, but Covid-19 Limits Insurer’s Latest Results
High levels of Covid-19 deaths harmed MetLife Inc.’s fourth-quarter results in its employer-sponsored life insurance business as the Delta variant persisted in the United States, but the outsized payouts were more than offset by unusually strong investment gains. The New York company’s net income increased to $1.18 billion, up from $124 million the previous year,… Continue reading MetLife’s Earnings Surge, but Covid-19 Limits Insurer’s Latest Results
Employers Eyeing New Sources of Talent, Changes in Skills to Tackle Labor Shortage
A growing number of North American employers say new sources of talent and changes in skills required to get work done are needed to address ongoing labor market challenges. That’s according to a new survey by WTW, a leading global advisory, broking and solutions company. According to the WTW Reimagining Work and Rewards Survey, the… Continue reading Employers Eyeing New Sources of Talent, Changes in Skills to Tackle Labor Shortage