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Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO
Insurance Journal | July 1, 2024
Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO
Ryan Specialty Holdings, Inc. said company founder, chairman and chief executive Patrick G. Ryan will move to an executive chairman role and Timothy W. Turner will take over as will become CEO. Turner is currently president of Ryan Specialty and …
US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair
Insurance Journal | July 1, 2024
US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair
This has been a year of insurance sticker shock in the US. But the man who provides insurance to insurers thinks maybe the shock still isn’t enough to steer people away from risk in a changing climate. “There is not …
US Roof Maintenance Lags: Hanover
Insurance Journal | July 1, 2024
US Roof Maintenance Lags: Hanover
More than half of U.S. homeowners did not check their roofs for issues between February 2023 and 2024, according to a recent report by The Hanover Insurance Group. Only 38% of survey respondents reported checking for roof issues — including …
‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean
Insurance Journal | July 1, 2024
‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean
Hurricane Beryl, described by forecasters as “extremely dangerous,” is set to cause massive damage across the Caribbean’s Windward Islands on Monday. Beryl’s winds roared across the region at 120 miles (195 kilometers) per hour, making it a Category 3 hurricane …
Microsoft Tells Texas Agencies They Were Exposed in Russian Hack
Insurance Journal | July 1, 2024
Microsoft Tells Texas Agencies They Were Exposed in Russian Hack
Microsoft Corp. has told more than a dozen state agencies and public universities in Texas that Russian state-sponsored hackers accessed emails between them and the software giant. The attackers were able to gain access to the communications through a breach …
CCC: Severe Weather Impacting Collision Repair, Auto Insurance
Insurance Journal | July 1, 2024
CCC: Severe Weather Impacting Collision Repair, Auto Insurance
The auto insurance and repair industry must “adapt to new patterns and prepare for an unpredictable future,” according to the Crash Course Q2 2024 report released by CCC Intelligent Solutions Inc., a P/C cloud platform provider. The latest report focuses …
Cancer Victims Lose Bid to Block Proposed J&J Talc Bankruptcy
Insurance Journal | July 1, 2024
Cancer Victims Lose Bid to Block Proposed J&J Talc Bankruptcy
A federal judge on Friday rejected a bid by a group of cancer victims to block Johnson & Johnson from pursuing a proposed bankruptcy settlement of tens of thousands of lawsuits alleging the company’s baby powder and other talc products …
NYC Has the World’s Worst Traffic Congestion, Costing $9 Billion
Insurance Journal | July 1, 2024
NYC Has the World’s Worst Traffic Congestion, Costing $9 Billion
New York City is the world’s most-congested urban area for the second year in a row, costing the city an estimated $9.1 billion in lost time, a new report shows. A typical motorist driving through the most populated city in …
Changes at American Coastal Insurance After Florida OIR Action on ‘No-Fly List’
Insurance Journal | July 1, 2024
Changes at American Coastal Insurance After Florida OIR Action on ‘No-Fly List’
Florida regulators’ effort to enforce a 2002 state law and keep insolvent insurers’ officers out of carrier leadership roles appears to be a reason behind a significant shakeup at St. Petersburg-based American Coastal Insurance Corp. An official with Florida’s Office …
Report: Combined California Workers’ Comp Losses and Expenses Down in 2023
Insurance Journal | July 1, 2024
Report: Combined California Workers’ Comp Losses and Expenses Down in 2023
Total insurer combined losses and expenses incurred in 2023 were down, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2023. Findings in the WCIRB report, 2023 …