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Archive: April 2024

More Data Show All Trends Pointing in Right Direction for Florida Insurers
Insurance Journal | April 10, 2024
More Data Show All Trends Pointing in Right Direction for Florida Insurers
Policyholder surplus increased significantly, direct premium written jumped, and combined ratio has fallen for Florida-focused property insurance carriers in 2023, according to a Gallagher Re report released this week. The analysis echoes some of the good news in an S&P …
People Moves: Farmers Insurance Names Coleman President of Business Insurance
Insurance Journal | April 10, 2024
People Moves: Farmers Insurance Names Coleman President of Business Insurance
Farmers Insurance Names Coleman President of Business Insurance Farmers Insurance announced that Eric Coleman has joined the organization as president of Business Insurance, effective April 10. In this role, Coleman is responsible for leading commercial underwriting, product, strategy, finance and …
Pennsylvania Issues Its ‘Expectations’ for Insurance Carriers Regarding Their Use of AI
Insurance Journal | April 10, 2024
Pennsylvania Issues Its ‘Expectations’ for Insurance Carriers Regarding Their Use of AI
Pennsylvania has issued guidance for insurance companies’ use of artificial intelligence systems (AIS) based on a model adopted by the National Association of Insurance Commissioners (NAIC). The Pennsylvania Insurance Department issued Notice 2024-04 which includes recommended best practices for how …
Boeing Crisis of Confidence Deepens With 787 Now Under Scrutiny
Insurance Journal | April 10, 2024
Boeing Crisis of Confidence Deepens With 787 Now Under Scrutiny
Boeing Co. faces a deepening crisis of confidence after an engineer at the US planemaker alleged the company took manufacturing shortcuts on its 787 Dreamliner aircraft in order to ease production bottlenecks of its most advanced airliner. Factory workers wrongly …
Markets/Coverages: Insurtech Slice Expands Contractors General Liability Insurance Offering, Backed by Philadelphia Insurance
Insurance Journal | April 10, 2024
Markets/Coverages: Insurtech Slice Expands Contractors General Liability Insurance Offering, Backed by Philadelphia Insurance
Slice Labs Inc., the New York-based insurtech that operates an on-demand insurance platform, has expanded into seven additional states and the District of Columbia with its contractors general liability insurance product for small businesses. Coverage purchased on Slice’s platform is …
Hackers Claim to Have UnitedHealth’s Stolen Data – But Is It a Bluff?
Insurance Journal | April 10, 2024
Hackers Claim to Have UnitedHealth’s Stolen Data – But Is It a Bluff?
A freshly formed hacking gang claims to have won access to a massive stash of data stolen from UnitedHealth Group, the largest U.S. health insurer, but with little evidence to go on it is not clear whether they are telling …
Deadly Blast at Enel Plant in Italy Came Amid Maintenance Work
Insurance Journal | April 10, 2024
Deadly Blast at Enel Plant in Italy Came Amid Maintenance Work
A deadly explosion Wednesday at an Enel SpA hydro-power facility in northern Italy that left at least three people dead occurred as works to renew facilities at the 1970s-era plant were concluding. The accident took place some 40 meters (131 …
Viewpoint: Striking Risk-Reward Balance for Shipping Lithium-Ion Batteries
Insurance Journal | April 10, 2024
Viewpoint: Striking Risk-Reward Balance for Shipping Lithium-Ion Batteries
Executive Summary: While the advancement of technology in electric vehicles and other lithium-ion powered goods facilitates energy transition from fossil fuels, the fire risks associated with such products need proactive management, writes Dr. William Moore, global loss prevention director, The …
World Hits 10th Consecutive Month of Record-High Temperatures
Insurance Journal | April 10, 2024
World Hits 10th Consecutive Month of Record-High Temperatures
March was the Earth’s 10th consecutive month of record-breaking heat, with populations across much of the northern and southern hemispheres experiencing temperatures overshooting climate targets. The European Union’s Copernicus Climate Change Service reported Tuesday that record March temperatures globally were …
Takeaways From the Swiss Women’s Climate Victory
Insurance Journal | April 10, 2024
Takeaways From the Swiss Women’s Climate Victory
The European Court of Human Rights ruled in favor of more than 2,000 Swiss women on Tuesday, affirming their argument that the Swiss government violated their human rights by failing to take sufficient action on climate change. Here are some …