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Archive: December 2023

Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter
Insurance Journal | December 29, 2023
Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter
Ceding companies are finding that a responsive reinsurance market has materialized for the Jan. 1, 2024 renewals – a reflection of ample capacity and a commercial approach to trading partnerships, according to Guy Carpenter, the reinsurance business of Marsh McLennan. …
Mississippi Health Department Retesting Some Medical THC Products for Toxins
Insurance Journal | December 29, 2023
Mississippi Health Department Retesting Some Medical THC Products for Toxins
JACKSON, Miss. (AP) — The Mississippi Department of Health said Wednesday that “a large number” of medical marijuana products are on hold so they can be retested. The department first issued the hold on Dec. 21. A news release from …
Florida Countertop Firm Owner Killed in Helicopter Crash
Insurance Journal | December 29, 2023
Florida Countertop Firm Owner Killed in Helicopter Crash
MIAMI (AP) — Emergency workers in south Florida this week tried to rescue a 71-year-old pilot of a helicopter that crashed into a canal. The man’s daughter swam to safety but the pilot could not be saved, according to news …
People Moves: Aspire in California Names Alam and Newgarden to New Roles
Insurance Journal | December 29, 2023
People Moves: Aspire in California Names Alam and Newgarden to New Roles
Aspire General Insurance Company, headquartered in Rancho Cucamonga, Calif., named Bilal Alam actuary and chief data officer and Tom Newgarden as an Aspire board member. Alam previously served as vice president and head of reinsurance at National General Insurance Company …
Helicopter Crash in New Jersey Forest Kills 2 from ABC News Team
Insurance Journal | December 20, 2023
Helicopter Crash in New Jersey Forest Kills 2 from ABC News Team
A helicopter crash on Tuesday night in the Pinelands wilderness area of New Jersey, killing the pilot and a photographer who worked for ABC-TV news team in Philadelphia, WPVI. The news station said the chopper went down in Wharton State …
Texas DWC Revises Death Benefits Forms
Insurance Journal | December 20, 2023
Texas DWC Revises Death Benefits Forms
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) has revised forms DWC Form-042, Claim for Workers’ Compensation Death Benefits, and PLN-12, Notice of Potential Entitlement to Workers’ Compensation Death Benefits to help eligible beneficiaries file claims for death …
Illinois Appeals Court Rules Exclusion Bars BIPA Claims
Insurance Journal | December 20, 2023
Illinois Appeals Court Rules Exclusion Bars BIPA Claims
An Illinois appellate court decided Tuesday that a general liability insurance policy sold to a Waukegan packaging company clearly excluded coverage for violations of the state Biometric Information Privacy Act, saying a federal appellate court decision to the contrary was …
Howden Acquires Dutch Broker VLC & Partners
Insurance Journal | December 20, 2023
Howden Acquires Dutch Broker VLC & Partners
Howden, the London-based global insurance group, announced the acquisition of VLC & Partners Holding B.V., one of the largest independent insurance brokers in the Netherlands. Financial details of the transaction were not disclosed. The business is currently under the ownership …
Allianz Sponsors Catastrophe Bond for European Windstorm Risks
Insurance Journal | December 20, 2023
Allianz Sponsors Catastrophe Bond for European Windstorm Risks
Allianz has sponsored a new catastrophe bond which will provide the group with multi-year risk transfer capacity of €250 million to protect itself against European windstorms. Allianz entered into a three-year reinsurance agreement with Blue Sky Re DAC, a special …
A&E Loss Payouts on the Rise; Reserves Will Run Off in 8 Years
Insurance Journal | December 20, 2023
A&E Loss Payouts on the Rise; Reserves Will Run Off in 8 Years
A new AM Best segment report details asbestos and environmental (A&E) losses and reserve decline through the end of 2022. AM Best maintains its estimate for net asbestos losses at $100 billion and environmental losses at $46 billion as of …