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The UK's Competition and Markets Authority (CMA) said today that it is investigating the anticipated acquisition of the Treaty Reinsurance business of Willis Towers Watson by Arthur J. Gallagher & Co. In a brief statement, which says the probe was launched yesterday with the notification of all parties, CMA also said that it opened a... read more | |
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The privacy once enjoyed by investors who finance other people's lawsuits was rarely questioned before Hulk Hogan brought a media spotlight onto the niche industry after winning a $140 million jury verdict that forced the Gawker website into bankruptcy. When Terry Jean Bollea (the professional wrestler's real name) filed an invasion-of-privacy lawsuit against Gawker Entertainment... read more | |
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We are proud to announce Frost & Sullivan, a global consulting and research firm, has named Verisk as its 2021 Company of the Year, honoring the Verisk Data Exchange™ for outstanding achievement as the North American Telematics Data Exchange Industry Excellence in Best Practices. read more | |
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While events like Hurricane Ida and a Texas winter freeze demonstrate wide-reaching impacts of climate change to all but ardent deniers, even insurers and reinsurers may not fully appreciate all the risks, a new report suggests. Among the underappreciated facts about climate change: Along some parts of the U.S. Eastern seaboard, events that used to... read more | |
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Coalition, a San Francisco-based cyber insurer and security company, has snatched up Attune, a carrier-founded managing general agent with a broker platform focused on commercial insurance. read more | |
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Late last week, James River Group Holdings, Ltd. announced that two of its principal operating subsidiaries entered into a loss portfolio transfer reinsurance transaction with a wholly owned captive insurer of Uber Technologies, Inc. Under the agreement, the Uber captive, Aleka Insurance Inc., will reinsure substantially all of James River's legacy portfolio of commercial auto... read more | |
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Workers compensation insurers continue to stow away more money than necessary in reserves, even as reported loss ratios continue to climb, according to a report released last Wednesday by the National Council on Compensation Insurance. Coincidentally, also on Wednesday, A.M. Best released a report concluding that workers compensation had weathered the economic slowdown caused by... read more | |
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Digital flood insurance provider Neptune Flood has acquired Jumpstart Insurance Solutions, a parametric InsurTech broker that offers parametric earthquake policies. Terms were not disclosed. Jumpstart, a licensed surplus lines insurance broker selling online and using Lloyd's capacity, began offering earthquake insurance in California in 2019 in the form of a parametric product, with payments linked... read more | |
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Global data analytics provider Verisk is leveraging artificial intelligence and image analytics to generate underwriting insights for small business insurers from more than 200 million reviews on Yelp, the company announced this morning. Unstructured data and images from Yelp reviews may show how a business has evolved during the COVID-19 pandemic, and therefore can inform... read more | |
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More than a year and a half after the Boy Scouts of America sought bankruptcy protection amid an onslaught of child sex abuse allegations, tens of thousands of men who say they were molested as children by scoutmasters and others will soon get a chance to vote on a BSA reorganization plan. The Boy Scouts,... read more | |
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Two sets of researchers published analyses of auto crashes recently, with one set identifying speeding at the cause of fatal accidents during the early days of the pandemic, and the other correlating rough roads and slow speeds with accident frequencies before the pandemic. Details follow. 'Once Traffic Goes Away, People Speed.' With fewer people on... read more | |
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The Florida Insurance Guaranty Association is urging insurers to hold off on sending homeowners policy renewals until state regulators decide if they will approve a surcharge on premiums to help cover more than $168 million in claims left from two carrier insolvencies this year. With thousands of notices for 2022 policy renewals set to go... read more | |
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One in four companies has instituted a vaccine mandate for U.S. workers, a sharp increase from last month, following President Joe Biden's directive ordering large employers to require shots or weekly testing. Another 13 percent of companies plan to put a mandate in place, according to Brian Kropp, chief of human resources research at consultant... read more | |
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