Insurance products and industry updates
The recent earthquake in Venezuela is expected to cause significant commercial insurance losses, while the residential sector remains largely uninsured.
The PCAOB's new consultation initiative allows firms to seek direct feedback on audit standards, enhancing clarity and quality in the industry.
AIG's Lexington Insurance and real estate developer Rick Caruso reached a settlement over delays in a property damage claim related to a shopping center in California.
CFC has updated its insurance offerings to include explicit coverage for emerging AI risks and enhance clarity for policyholders and brokers.
A significant 71% of retailers incurred unexpected compliance costs after BFCM, jeopardizing growth plans and highlighting the need for better operational preparedness.
King Charles III has paid over £30 million in taxes since becoming king, emphasizing the Royal Household's commitment to financial transparency.
Neil Krauter Sr. has been appointed as the executive managing director for Brown & Brown’s retail segment, focusing on growth and talent acquisition.
Creditor trust targets Thai Union, claiming it contributed to Red Lobster's financial woes through aggressive shrimp pricing and promotional tactics.
California’s Workers’ Compensation Appeals Board disqualified a judge over violations of due process and bias while ruling on settlement cases.
Neptune Insurance Holdings has boosted its flood coverage limits to $15 million and expanded business interruption options, reflecting market responsiveness.
Recent earthquakes in Venezuela may result in economic damages exceeding $10 billion, according to the U.S. Geological Survey, while recovery efforts commence.
Goldman Sachs forecasts a 10% to 15% drop in risk-adjusted reinsurance rates in Australia for the upcoming July renewals.
A record heatwave in France has left more than 100,000 customers without power as temperatures are projected to peak at 108 degrees.
Despite increasing claims costs and economic pressures, Asia-Pacific insurers are projected to deliver stable results this year, according to Fitch Ratings.
Asia-Pacific manufacturers are increasingly exposed to uninsured cyber risks, with potential disruption impacting the broader industry landscape.
Oman has officially dismissed claims of implementing tolls for maritime traffic in the Strait of Hormuz, countering Iran's earlier statements.
Axa XL has elevated Nicoletta George to Global Chief Underwriting Officer, enhancing its strategic leadership in general liability underwriting.
A recent study reveals that Massachusetts families face a heavier tax burden than those in states like North Carolina, demanding urgent tax reforms.
Prudential has filed a lawsuit against AIG and five insurers over a protracted $300 million claim related to its Assurance IQ acquisition.
Idaho Republicans aim to eliminate property taxes, labeling them unjust and advocating for alternative revenue, igniting significant fiscal discussions statewide.