Marsh has agreed to acquire Honan Insurance Group Pty Ltd. as the US insurance broker giant seeks to expand its presence in Australia and New Zealand.
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Companies Are Finding It Harder to Detect Ransomware
Fewer and fewer organizations are detecting ransomware on their networks and their endpoints, but that doesn’t mean that there are fewer ransomware attacks happening around the world.
New York City Officially Bans TikTok on All Government Devices
New York City is joining a wave of federal agencies and states across the U.S. in banning TikTok from government-owned devices, citing security concerns that could be associated with the app.
NAIC to Issue Data Call to Help Regulators Better Understand Property Markets
The National Association of Insurance Commissioners (NAIC) at its 2023 Summer National Meeting announced a plan to issue a data call to help state insurance regulators collect data from insurers to better understand property markets and coverages and protection gaps.
Best’s Commentary: Vesttoo Highlights Importance of Managing Counterparty Risk
With the Vesttoo fallout as a backdrop, a new AM Best commentary details leading bank issuers of collateral letters of credit (LOC) to (re)insurance companies, as well as companies with LOC exposures to China Construction Bank Corp., which has been linked to the ongoing situation.
Allstate Announces July Catastrophe Losses of $313M and Implemented Rates
The Allstate Corporation announced on Thursday estimated catastrophe losses for the month of July of $313 million or $247 million, after-tax.
This Gen-Z Lemonade Might Sour
Shares in New York-based insurer Lemonade are trading around $14 after it reported a second-quarter net loss of $67 million earlier this month. Two years ago, they were briefly above $180. The company went public at $29 in 2020.
Major Hurricane Hilary Reaches Category 4 Intensity, Heading for Southern California
Hurricane Hilary rapidly strengthened into a Category 4 hurricane Friday morning, and it’s poised to bring an array of life-threatening hazards to California and neighboring states beginning this weekend.
“Average” Nat Cat Losses in Q3 Are Likely to Keep Rates High: Berenberg
While a super-clean wind season is more likely than not to put pressure on rates in 2024 renewals, a hurricane making landfall will likely have profound implications for the industry, according to Berenberg analysts.
Homeowners Putting Off Home Upkeep, Risking Damage
New Agency Forward survey suggests many U.S. homeowners are not prioritizing maintenance, even if it jeopardizes their property.