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Category: Insurance Journal

Everest Insurance Continues Global Expansion, Launching Branch in Spain
Insurance Journal | February 1, 2023
Everest Insurance Continues Global Expansion, Launching Branch in Spain
Everest Insurance, the insurance division of Everest Re Group Ltd., announced its expansion into the Spanish market following regulatory approval from the relevant authorities to operate in Spain — trading as Everest Insurance (Ireland) DAC, Sucursal en España. The Spain …
Ex-Allianz Fund Manager Seeks Dismissal of Fraud Charges
Insurance Journal | February 1, 2023
Ex-Allianz Fund Manager Seeks Dismissal of Fraud Charges
The former Allianz SE hedge fund manager charged with fraud over billions of dollars in investor losses asked a judge to throw out the case, claiming lawyers wrongly betrayed him to protect the company. Gregoire Tournant claims in a Monday …
Western Tankers Ramp Up Russian Oil Shipments as Prices Remain Below G7 Price Cap
Insurance Journal | February 1, 2023
Western Tankers Ramp Up Russian Oil Shipments as Prices Remain Below G7 Price Cap
Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow’s flagship Urals grade held below an international price cap, according to market sources and Eikon data. The Group of Seven nations (G7), Australia and …
Lloyd’s to Pay Some Staff £1,500 in Latest Cost-of-Living Aid
Insurance Journal | February 1, 2023
Lloyd’s to Pay Some Staff £1,500 in Latest Cost-of-Living Aid
Lloyd’s of London will hand some staff an extra £1,500 ($1,850) to cover rising living costs as inflation persists into 2023. The insurance exchange told staff Tuesday that those earning less than £75,000 would receive the one-time contribution, according to …
Denial-of-Service Attacks Rise, Raising Concerns for Banks
Insurance Journal | February 1, 2023
Denial-of-Service Attacks Rise, Raising Concerns for Banks
Long considered a nuisance, distributed-denial-of-service attacks, or DDoS, are a growing problem for banks and other financial businesses, according to a new report. The volume of DDoS attacks targeting financial firms increased 22% year-over-year as of November, according to a …
People Moves: Batt Is Trium Cyber Head of Product; Tyng New Lead of HDI U.S. Captive Solutions; SiriusPoint Names Sigle Head of Claims; HUB Hires Chief HRO
Insurance Journal | February 1, 2023
People Moves: Batt Is Trium Cyber Head of Product; Tyng New Lead of HDI U.S. Captive Solutions; SiriusPoint Names Sigle Head of Claims; HUB Hires Chief HRO
Lloyd’s Trium Cyber Appoints Batt as Head of Product Trium Cyber, the first entity approved by Lloyd’s to launch a monoline cyber syndicate, has appointed Jeffrey Batt as head of product. As head of product, Batt will focus on underwriting …
Tennessee Department Obtains $11.5M for Policyholders in Insurance Claims Disputes
Insurance Journal | February 1, 2023
Tennessee Department Obtains $11.5M for Policyholders in Insurance Claims Disputes
The Tenneesse Department of Commerce and Insurance secured a record $11.5 million for policyholders in 2022, after mediating complaints about insurers. The department’s insurance services team mediated 3,249 complaints last year, resulting in numerous claims denials being overturned or additional …
Florida Approves New WC Rule: Carriers Must Verify Subcontractor Employees
Insurance Journal | February 1, 2023
Florida Approves New WC Rule: Carriers Must Verify Subcontractor Employees
The National Council on Compensation Insurance has laid down the law, requiring Florida workers’ compensation insurers to verify employees before arbitrarily charging premium for subcontractors’ exempt officers. The question now is, will insurers abide or will they choose to ignore …
Q&A: Louisiana Commissioner Jim Donelon on Special Session to Address Insurance Crisis
Insurance Journal | January 31, 2023
Q&A: Louisiana Commissioner Jim Donelon on Special Session to Address Insurance Crisis
In the aftermath of Hurricane Katrina, Louisiana lawmakers created a $29 million incentive fund to lure property insurance companies to write business in the state. The Insure Louisiana Incentive Program provided grants to five insurers, who were required to match …
California Earthquake False Alarm Offers a Lesson for Crisis Communicators
Insurance Journal | January 31, 2023
California Earthquake False Alarm Offers a Lesson for Crisis Communicators
An earthquake false alarm nearly four years ago can teach disaster and emergency planners – and any crisis communicators, including insurers – a thing or two about communicating to the public during following a crisis. In May 2019, an alert …