Insurance products and industry updates
July saw a slowdown in most commercial insurance renewal rates, particularly in commercial auto, according to Ivans Insurance Services.
ACORD has appointed John Kellington as its new CEO, succeeding Bill Pieroni, as the organization continues to focus on industry standards development.
Rebecca Simeone, previously a senior risk manager at Beazley, steps into the U.S. chief risk officer role at Canopius, effective September 8.
Coface's net income fell to €108 million in the first half of the year due to economic stagnation and tariffs, although revenue exhibited slight growth.
Global reinsurance capital is on track to hit $705 billion in 2026, driven by strong growth in both traditional and third-party sectors.
Accredited Insurance expands its marine risk coverage in Greece and Cyprus through a new partnership with Hellenic Hull Management.
A New York court allows a construction worker to pursue his injury lawsuit while dismissing financial claims against his employer due to workers' compensation benefits.
An Ohio court upheld permanent total disability benefits for a respiratory therapist, clarifying the role of objective medical evidence in benefit decisions.
A California appeals court upheld an insurer’s cancellation of a policy due to an employer's failure to provide payroll records, clarifying audit compliance obligations.
AIG is realigning its property portfolio due to intensifying competition in commercial insurance while leveraging growth in casualty lines.
Assicurazioni Generali SpA's first-half net profit rose 18% to €2.5 billion, reflecting growth across all its business segments.
Everest Group Ltd. will sell its Mexican subsidiary to Fairfax Financial as part of a strategic shift to concentrate on reinsurance.
Swiss Re's first-half net income increased by 9% to $2.8 billion, fueled by strong performance across all business segments.
Chubb has appointed Dave Roberts as president of Westchester, while Dave Lupica assumes the role of executive chairman, ensuring strategic oversight.
A Delaware judge rules that insurers cannot recoup a $50 million settlement paid to NYU after Superstorm Sandy, highlighting issues of policy language.
A recent report reveals significant increases in California's cumulative trauma claims, indicating shifts in workforce dynamics and legal representation.
A federal judge mandates RLI to defend a plumbing contractor in pipe-leak litigation, citing potential coverage for one of three apartment complexes involved.
Record-low river levels are disrupting cargo transport and electricity generation in Europe, with significant shutdowns reported in Hungary and Romania.
Wildfire catastrophe bond sales have topped $5 billion this year, approaching last year's total, driven by increasing fire risks across Europe.
A recent 6.8-magnitude earthquake in Japan could lead to insured losses of $1.4 billion to $2.1 billion, excluding various types of damages.