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Commercial Property Rate Stabilization Highlights Latest WTW CLIPS
Insurance Journal | September 10, 2024
Commercial Property Rate Stabilization Highlights Latest WTW CLIPS
Broker WTW said commercial lines insurance rates increased overall by an average of 5.9% during the second quarter. Quarterly price increases have been around 6% since the end of the global pandemic, WTW reported in its Commercial Lines Insurance Pricing …
Moody’s: Insurers and Asset Managers Bolstering Cyber Defenses
Insurance Journal | September 10, 2024
Moody’s: Insurers and Asset Managers Bolstering Cyber Defenses
Insurers and asset managers worldwide continue to focus on cybersecurity amid growing risks, according to findings from a Moody’s Ratings survey that polled 110 companies operating across both sectors. Respondents’ total investment in cybersecurity rose by 53% between 2019 and …
Getting the Green Light: Are High-Tech Upgrades Coming Soon to Roads?
Insurance Journal | September 10, 2024
Getting the Green Light: Are High-Tech Upgrades Coming Soon to Roads?
The secret to avoiding red lights during rush hour in Utah’s largest city might be as simple as following a bus. Transportation officials have spent the past few years refining a system in which radio transmitters inside commuter buses talk …
Residents in Louisiana City Still Recovering From 2020 Hurricanes
Insurance Journal | September 10, 2024
Residents in Louisiana City Still Recovering From 2020 Hurricanes
LAKE CHARLES, La. (AP) — Every other day Lois Malvo waits for her son to bring six buckets of water from a spigot in the backyard. He then bathes his 78-year-old mother using water heated on the stove and washes …
Texas-Based Insurtech Sigo Seguros Raises $5.1M in Pre-Series A Funding
Insurance Journal | September 10, 2024
Texas-Based Insurtech Sigo Seguros Raises $5.1M in Pre-Series A Funding
Sigo Seguros, a Texas-based insurtech company that focuses on providing auto insurance services for immigrant and working-class communities, announced it has raised an additional $5.1 million in its pre-Series A funding round. The investment round was co-led by Zeal Capital …
Catalyit, Big I Partner on Tech-Adoption Support for Independent Agents
Insurance Journal | September 10, 2024
Catalyit, Big I Partner on Tech-Adoption Support for Independent Agents
Catalyit, an insurance technology hub for independent insurance agents, is partnering with the Independent Insurance Agents & Brokers of America, Inc. (the Big “I”) to support independent insurance agents in selecting, implementing and optimizing the right technologies for their agencies. …
People Moves: Melvin Names CEO of BMS Re US; Rawal Joins AXA XL as CUO Middle Market, Canada; QBE Canada Hires Fenn as Multinational Underwriting Manager
Insurance Journal | September 10, 2024
People Moves: Melvin Names CEO of BMS Re US; Rawal Joins AXA XL as CUO Middle Market, Canada; QBE Canada Hires Fenn as Multinational Underwriting Manager
Melvin Appointed President and CEO, BMS Re, US BMS Re, the specialty reinsurance arm of global broker BMS Group headquartered in New York City, appointed Brad Melvin president and chief executive officer, BMS Re, U.S., effective November. Melvin will lead …
Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers
Insurance Journal | September 10, 2024
Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers
The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant threats posed by aggregation risk, and the …
NHTSA Proposes New Vehicle Requirement to Reduce Pedestrian Deaths
Insurance Journal | September 10, 2024
NHTSA Proposes New Vehicle Requirement to Reduce Pedestrian Deaths
A U.S. regulator said on Monday it is proposing a requirement that some future vehicles be redesigned to reduce the risks of serious or fatal injuries in crashes involving pedestrians amid a rise in such deaths. The National Highway Traffic …
Markets/Coverages: PURE Heads to Canada to Cover HNW Homes
Insurance Journal | September 9, 2024
Markets/Coverages: PURE Heads to Canada to Cover HNW Homes
Privilege Underwriters Reciprocal Exchange (PURE) is for the first time going international with an expansion into Canada. The reciprocal exchange will start serving high net worth clients in Ontario with homeowners insurance through select brokers. Future products include automobile coverage …