Louisiana Insurance Commissioner Tim Temple said a plan that tackles a property insurance crisis is moving forward after legislators approved four bills, including one eliminating rules largely prohibiting carriers from dropping policyholders who stayed with them at least three years.
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Ryan Specialty Completes Acquisition of Castel Underwriting Agencies
Ryan Specialty, a leading international specialty insurance firm, is pleased to announce that it has completed the acquisition of Castel Underwriting Agencies Limited, a Managing General Underwriting (MGU) platform.
Aon Estimates Q1 Global Insured Catastrophe Losses of at Least $17B
Broking giant Aon has estimated that global insured catastrophe losses amounted to at least $17 billion in the first-quarter of 2024, which was slightly above average by its measure.
Q1 2024 Sets Record for Most Ransomware Attacks in a First Quarter: Corvus
As per a new report from Corvus Insurance, Q1 2024 has set a record for the most global ransomware attacks in a first quarter.
Omaha National Acquires California Domiciled Insurance Company
Omaha National Group Inc., a leading tech-enabled provider of workers’ compensation insurance, has acquired Sutter Insurance Company, a California domiciled insurance carrier that has been renamed Omaha National Casualty Company.
Investors Are Increasingly Interested in a Novel Type of Weather Insurance
Interest in startups trying to shake up the insurance industry is on the rise as weather catastrophes worsen. The latest sign: New York-based Arbol has raised $60 million in a Series B funding round.
Beazley Wary of Social Inflation Effect While Cyber Premiums Sag
Beazley plc saw lower first-quarter premiums in cyber as the group implements its excess and surplus operation and remains wary of lines affected by social inflation.
Kaiser Notifies Millions of Its Members of a Privacy Data Breach
About 13.4 million current and former Kaiser Permanente members and patients were potentially impacted by a privacy breach, the health care provider said.
Allstate Could Resume Issuing New Home Insurance Policies in CA
Allstate, one of California’s biggest home insurers, could resume writing new homeowner policies if the department of insurance approves rule changes.
Hartford Financial First-Quarter Profit Surges on Commercial Lines, Investment Gains
Hartford Financial Services Group Inc. posted higher first-quarter net income on commercial lines gains and elevated investment income.