Insurance products and industry updates
Christian Dunleavy will become CEO of Conduit Holdings on March 1, 2027, replacing Neil Eckert, who founded the company in 2020.
Markel Group has announced a leadership transition, with CEO Tom Gayner taking over as chairman following Steve Markel's retirement.
A federal judge ruled against Cincinnati Insurance for bad faith in denying business interruption claims from North Carolina restaurants during the pandemic.
An Indiana appeals court ruled that a parks employee is entitled to workers' compensation after fainting while driving a work vehicle, affirming significant precedents.
Compre Group has finalized a £200 million retrospective reinsurance deal with a Lloyd's syndicate, covering multiple lines in property and casualty.
Brown and Brown (Europe) Ltd.'s acquisition of MacKay Corporate Insurance Brokers marks a strategic entry into the Scottish retail market.
Munich Re reports insured losses from non-peak events surpassing $100 billion for the first time, suggesting this trend may become standard.
Argo Group aims to block coverage for over 500 lawsuits linked to silica dust exposure from stone countertops, citing policy exclusions.
August storms in Europe led to an estimated $2.9 billion in insured losses, highlighting the increasing impact of severe weather events.
An Illinois appeals court has reversed a $165K workers' compensation award, ruling reimbursement must reflect negotiated medical costs rather than billed amounts.
The recent floods in Nepal could push commercial insurance losses past $132 million, primarily impacting hydropower projects, with further risks anticipated.
The NHTSA has initiated an investigation into Tesla's Cybercab certification as the company begins deployment in Austin, raising safety compliance questions.
Aon’s $17 billion acquisition of USI and escalating silicosis liability issues dominated recent discussions in the insurance industry.
Lloyd’s first-half profit dipped 17% to £3.5 billion despite a 7% rise in gross written premiums, indicating the impact of market pressures.
Marine insurers are facing nearly $2 billion in claims from vessel damage due to the ongoing conflict in Iran, potentially affecting market stability.
Increasing surplus capital among reinsurers is likely to drive mergers and acquisitions, shifting focus towards growth through strategic acquisitions.
A significant decline in underwriting profitability is needed to counteract the current softening within the reinsurance market, highlights Howden Re.
FSB Chair Andrew Bailey emphasizes the pressing issue of AI-driven cyber risks as critical to financial stability amid evolving market dynamics.
Sony and Warner Music are suing Anthropic, alleging unauthorized use of copyrighted song lyrics to train its AI models, seeking damages up to $150,000 per infringement.
Cesar, a two-Michelin-star restaurant in NYC, faces a proposed class action for wage violations, including withheld tips and unpaid overtime.