According to the sigma “Risk on the rise as headwinds blow stronger” the global insurance industry’s strengthening financial position offers welcome reinforcement against elevated macroeconomic and geopolitical risks.
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Geneva Association Says Public Backstop May Be Necessary for Major Cyber Events
The protection gap between cyber liability coverage and the potential for losses means a taxpayer backstop for major cyber events may be necessary, according to a report from the Geneva Association.
Title Insurance Pilot Scuttled after Blowback from Insurers, Lawmakers
The Biden administration pushed to save homeowners thousands of dollars in closing costs on certain mortgages, part of a broad effort to slash fees and save Americans money. Objections from an obscure industry and from lawmakers helped kill the plan.
Corporate America Is Rethinking Diversity Hiring
The same conservative activists who helped gut race-related college admissions at the US Supreme Court have now set their sights on corporate diversity programs, barraging airlines, tech giants and law firms with lawsuits and complaints. And they’re already having an effect.
Program Managers vs. Wholesalers: Understanding Their Roles in Property-Casualty Insurance
Program managers and wholesalers are the heartbeat of the ProgramBusiness.com Market Directory. It is a content-rich platform connecting wholesalers, MGAs/MGUs, program administrators, and carriers with independent agents looking to place business. Agents use it to quickly make contacts and begin their clients’ underwriting, quote, and submission processes. This guide explores the vital distinctions between program… Continue reading Program Managers vs. Wholesalers: Understanding Their Roles in Property-Casualty Insurance
DOJ Settles with Two U.K. Reinsurance Brokers Over Ecuador Bribes
The Justice Department has settled with two U.K.-based reinsurance brokers that admitted to participating in a scheme to bribe Ecuadorean government officials.
AI to Reignite Global M&A Market in 2024
With interest rates stabilizing and a pick-up in deal activity after a muted first half in 2023 fueling cautious optimism, WTW looks at the trends to shape the M&A landscape in 2024.
Drivers Unhappy with Tesla’s Car Insurance Claims Service, Payouts
While some customers in online posts have praised the Tesla’s low insurance premiums, others complain of waiting weeks or months for payouts and repairs, and an inability to reach claims adjusters.
SEC Sues Kraken in Latest Crackdown Against Crypto Exchanges
The Securities and Exchange Commission sued Kraken, one of the largest cryptocurrency exchanges, on Monday, alleging it had illegally operated without registering as a securities exchange—marking the latest step in the SEC’s push to regulate cryptocurrency.
Morgan Stanley Fined $6.5M Over Client Data Breach
Morgan Stanley will pay $6.5 million as part of a settlement with six state attorneys general over allegations the investment bank compromised the personal information of millions of customers, according to a statement from New York Attorney General Letitia James’ office.