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Category: Insurance Journal

Despite Insurance Costs, Lux Condos Going Up: Miami Tower to Have $150M Penthouse
Insurance Journal | December 1, 2023
Despite Insurance Costs, Lux Condos Going Up: Miami Tower to Have $150M Penthouse
(Bloomberg) — A roughly 13,000-square-foot, full-floor penthouse and roof at the Rosewood Residences, a 17-story condo tower designed by Peter Marino in Miami’s South Beach, could soon be the most expensive in Miami Beach’s history. It’s priced at “over $150 …
Climate Change, Natural Disasters Sent Texas Homeowners Insurance Rates Skyrocketing in 2023
Insurance Journal | December 1, 2023
Climate Change, Natural Disasters Sent Texas Homeowners Insurance Rates Skyrocketing in 2023
Insurance companies across Texas have dramatically increased home insurance rates this year, state filings show, as climate change spooks executives and inflation pushes up costs to rebuild after natural disasters. Texas is prone to hurricanes and flooding, both of which …
Insurance, Cat Bonds Can Help Boost Poorer Countries’ Resilience to Climate Risks
Insurance Journal | December 1, 2023
Insurance, Cat Bonds Can Help Boost Poorer Countries’ Resilience to Climate Risks
Low-income countries are struggling to access insurance, catastrophe bonds and other hedging mechanisms that could help protect them from the economic fallout of climate change, industry sources told Reuters. Helping these countries, which face some of the biggest risks from …
Delivery Driver Sues FedEx, This Time in State Court, After Shooting Incident
Insurance Journal | December 1, 2023
Delivery Driver Sues FedEx, This Time in State Court, After Shooting Incident
JACKSON, Miss. (AP) — A Black former delivery driver in Mississippi who says two white men shot into his work van and then pursued him in a high-speed chase last year has filed a new lawsuit against the men and …
Nigeria’s Worst Flood in Decade Caused Billions in Economic Damage
Insurance Journal | December 1, 2023
Nigeria’s Worst Flood in Decade Caused Billions in Economic Damage
Nigerian floods last year that claimed hundreds of lives also caused up to $9 billion in damage, according to a report from the National Bureau of Statistics. The assessment, conducted in collaboration with the World Bank, placed the cost of …
People Moves: MS Amlin Promotes Forsyth to Head of Marine, Succeeding Humberstone; Generali GC&C Names Mediterranean, LatAm Managers as Part of Business Reorg
Insurance Journal | December 1, 2023
People Moves: MS Amlin Promotes Forsyth to Head of Marine, Succeeding Humberstone; Generali GC&C Names Mediterranean, LatAm Managers as Part of Business Reorg
This edition of International People Moves details appointments at MS Amlin and Generali Global Corporate & Commercial (GC&C). A summary of these new hires follows here. MS Amlin Promotes Forsyth as Head of Marine, Succeeding Humberstone Who Is Retiring MS …
U.S. Senate Committee Wants Investigation into Florida Citizens’ Loss Reserves
Insurance Journal | December 1, 2023
U.S. Senate Committee Wants Investigation into Florida Citizens’ Loss Reserves
The chairman of the U.S. Senate’s Budget Committee has begun an investigation into Florida’s Citizens Property Insurance Corp. and how the state-created insurer plans to address potential underwriting losses from extreme weather events in coming years. The Budget Committee is …
Business Execs Report Growing Employer, ESG Risk Concerns: Beazley
Insurance Journal | December 1, 2023
Business Execs Report Growing Employer, ESG Risk Concerns: Beazley
According to Beazley’s Spotlight on Business Risks report, 22% of global executives reported employer risk as the top business risk challenge they face in 2023—a notable share that has doubled in just two years. Meanwhile, 27% of surveyed leaders said …
Brexit Backer and Inventor James Dyson Loses Libel Lawsuit Against UK Newspaper
Insurance Journal | December 1, 2023
Brexit Backer and Inventor James Dyson Loses Libel Lawsuit Against UK Newspaper
James Dyson, the billionaire inventor of the bagless vacuum cleaner, lost a libel lawsuit on Friday against a British newspaper publisher over a column that branded him a hypocrite who had “screwed” Britain. Dyson sued Mirror Group Newspapers (MGN), publisher …
People Moves: Markel Says President, COO Cox to Leave Company; Siry Joins Cover Whale as COO and CTO; Glazer Named AIG General Counsel
Insurance Journal | December 1, 2023
People Moves: Markel Says President, COO Cox to Leave Company; Siry Joins Cover Whale as COO and CTO; Glazer Named AIG General Counsel
Markel, the insurance operations within Markel Group Inc., said Bob Cox, president and chief operating officer, Global Insurance Operations, will be leaving his role December 31, after five years . “Bob joined us five years ago bringing his more than …