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Category: Insurance Journal

Workers Reach Safety After Collapse Inside LA Industrial Tunnel
Insurance Journal | July 10, 2025
Workers Reach Safety After Collapse Inside LA Industrial Tunnel
All 31 construction workers who were far inside a huge industrial tunnel in Los Angeles made it to safety after a portion of it collapsed Wednesday evening, an outcome officials called a blessing after they initially feared much worse. The …
Markets/Coverages: Descartes Insurance Expands Into Credit & Political Risk
Insurance Journal | July 10, 2025
Markets/Coverages: Descartes Insurance Expands Into Credit & Political Risk
Descartes Insurance, the Paris-based risk-carrying subsidiary of parametric-insurer Descartes, has expanded its offering to corporate clients and public institutions to include credit and political risk insurance (CPRI). To support its expansion into this new class of business, Descartes has hired …
Husband and Wife Sentenced for $20 Million Insurance Fraud Scheme
Insurance Journal | July 10, 2025
Husband and Wife Sentenced for $20 Million Insurance Fraud Scheme
A Maryland husband and wife have been sentenced to 12 years in prison and four years in prison, respectively, after their convictions for a $20 million scheme to commit insurance fraud. In addition to their prison sentences, a judge for …
People Moves: QBE Re Names Senior Leaders Across Markets, Product Areas as Part of Restructuring; Liberty Global Transaction Solutions Appoints Leaders in London, Europe
Insurance Journal | July 10, 2025
People Moves: QBE Re Names Senior Leaders Across Markets, Product Areas as Part of Restructuring; Liberty Global Transaction Solutions Appoints Leaders in London, Europe
This edition of International People Moves details appointments at QBE Re and Liberty Global Transaction Solutions. A summary of these new hires follows here. QBE Re Names Senior Leaders Across Markets, Product Areas as Part of Restructuring QBE Re has …
AI-Driven MGA ‘Augmented UW’ Launches to Serve Smart-Follow Insurance Market
Insurance Journal | July 10, 2025
AI-Driven MGA ‘Augmented UW’ Launches to Serve Smart-Follow Insurance Market
Augmented UW Ltd., the AI-driven managing general agent, has launched in London to serve the smart-follow insurance market. The MGA was founded by Chief Executive Officer Daniel Prince, a leading executive in the London insurance market, who was formerly CEO …
Extreme Weather Could Cause 5% Drop in Euro Zone GDP, Bank Watchdogs Find
Insurance Journal | July 10, 2025
Extreme Weather Could Cause 5% Drop in Euro Zone GDP, Bank Watchdogs Find
Extreme weather events such as heatwaves, flooding and wildfires could wipe as much off euro zone GDP in the next five years as the global financial crisis or the COVID-19 pandemic, a senior European Central Bank official said on Wednesday. …
Northeast Cities Ranked Riskiest in National Allstate Driving Report
Insurance Journal | July 10, 2025
Northeast Cities Ranked Riskiest in National Allstate Driving Report
The five U.S. cities with the riskiest drivers are all located in the Northeast, according to Allstate’s 2025 America’s Best Drivers Report. The insurer listed Boston as the city where drivers were most likely to experience a collision, followed by …
Texas Agencies Missed Opportunities to Fund Flood Warning System
Insurance Journal | July 10, 2025
Texas Agencies Missed Opportunities to Fund Flood Warning System
Over the last decade, an array of Texas state and local agencies missed opportunities to fund a flood warning system intended to avert a disaster like the one that killed dozens of young campers and scores of others in Kerr …
Low Water Still Hindering Rhine River Shipping in Germany After Rainfall
Insurance Journal | July 10, 2025
Low Water Still Hindering Rhine River Shipping in Germany After Rainfall
Low water levels following a drought and heatwave in western Europe continue to hinder shipping through the Rhine river in Germany, commodity traders said on Wednesday, with rain in past days generating only a moderate rise in water levels. Low …
M&S Says April Cyberattack Caused by Third-Party Impersonation
Insurance Journal | July 10, 2025
M&S Says April Cyberattack Caused by Third-Party Impersonation
The cyberattack that derailed Marks & Spencer Group Plc’s operations for weeks was the result of a “sophisticated impersonation” of one of the retailer’s third-party users, according to Chairman Archie Norman. The hackers entered M&S’s systems on April 17 and …