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Archive: September 2024

E&S Vet Miller and Team Launch MGA Pivix
Insurance Journal | September 20, 2024
E&S Vet Miller and Team Launch MGA Pivix
Former Scottsdale Insurance President Mike Miller will now serve as president and CEO of excess & surplus managing general agency Pivix Specialty Insurance Services. Based in Scottsdale, Arizona, Pivix is an E&S platform offering property/casualty coverages for targeted segments. Products …
Insurers End ‘Cats’ Fight
Insurance Journal | September 20, 2024
Insurers End ‘Cats’ Fight
Two insurers have settled their dispute over coverage for an employee of the touring company for the musical “Cats” who was seriously injured on the set at a Providence theater in 2019. The Providence Performing Arts Center (PPAC) employee was …
Mutual Insurers Chase Rate Adequacy, Financial Strength Remains Strong: AM Best
Insurance Journal | September 20, 2024
Mutual Insurers Chase Rate Adequacy, Financial Strength Remains Strong: AM Best
The U.S. property/casualty mutual segment has leaned on investment income to maintain strong overall financial performance and grow surplus in the face of underwriting volatility and severe weather-related activity, according to an AM Best report. To combat underwriting losses and …
Extreme Weather Adds to Fiscal Strains in Central Europe
Insurance Journal | September 20, 2024
Extreme Weather Adds to Fiscal Strains in Central Europe
Just a week ago, before deadly floods swept through central Europe, the Czech Republic looked on track to become the first country in the region since COVID-19 to pull its budget deficit firmly below the 3% of GDP cap set …
Exploding Pagers Sound Global Alarm on Supply-Chain Security
Insurance Journal | September 20, 2024
Exploding Pagers Sound Global Alarm on Supply-Chain Security
Thousands of pagers and other devices exploding in Lebanon this week mark a new and deadly escalation in the use of supply chains against adversaries, giving new urgency to global leaders’ drive to reduce their dependence on technologies from rivals. …
Man Arrested for Damaging a Statue Outside a St. Louis Cathedral
Insurance Journal | September 20, 2024
Man Arrested for Damaging a Statue Outside a St. Louis Cathedral
ST. LOUIS (AP) — A man used construction equipment to drop a heavy boom lift onto a sculpture that has stood for 25 years outside St. Louis’ Cathedral Basilica, badly damaging it, police said. It wasn’t immediately clear whether the …
Human Remains Found in Vehicle Involved in Texas Pipeline Fire
Insurance Journal | September 20, 2024
Human Remains Found in Vehicle Involved in Texas Pipeline Fire
Deer Park, Texas, police confirmed that human remains were recovered from a vehicle that crashed into a natural gas liquids pipeline Monday, triggering a fire that continues to burn. “Medical examiners will now begin working through their identification process, which …
People Moves: AIG Appoints Walsh CFO; Rokstone Names Baker Deputy Head of US Casualty; Applied Underwriters Hires, Promotes Leadership
Insurance Journal | September 20, 2024
People Moves: AIG Appoints Walsh CFO; Rokstone Names Baker Deputy Head of US Casualty; Applied Underwriters Hires, Promotes Leadership
AIG Appoints Walsh Executive Vice President, Chief Financial Officer American International Group, Inc. (AIG), headquartered in New York City, named Keith Walsh as executive vice president and chief financial officer, effective October 21. Walsh, based in New York, will lead …
J&J Lifts Baby Powder Settlement Bid to More Than $8.2 Billion
Insurance Journal | September 20, 2024
J&J Lifts Baby Powder Settlement Bid to More Than $8.2 Billion
Johnson & Johnson has boosted to more than $8.2 billion its offer to settle thousands of lawsuits by people who say its baby powder gave them cancer, according to people familiar with the matter. The offer, an increase from the …
7 in 10 Actuaries and Underwriters Worry About Being Replaced by AI
Insurance Journal | September 20, 2024
7 in 10 Actuaries and Underwriters Worry About Being Replaced by AI
With the vast majority (91 percent) of insurance companies already investing in AI or planning to in the next five years, it’s not surprising that nearly 7 in 10 actuaries and underwriters are worried about being replaced by artificial intelligence, …