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Category: Insurance Journal

Wall Street Backs LA Wildfire Lawsuits, Chasing Billions
Insurance Journal | June 30, 2025
Wall Street Backs LA Wildfire Lawsuits, Chasing Billions
The Los Angeles wildfires have generated potentially thousands of new clients for lawyers and prospects for billions in fees. Wall Street wants in on the action, too. The chance at a piece of strong returns has encouraged investment banks, hedge …
Beazley Report: US Executives Misjudge Cyber Preparedness
Insurance Journal | June 30, 2025
Beazley Report: US Executives Misjudge Cyber Preparedness
U.S.-based executives feel more prepared to counter cyber threats, potentially indicating a false sense of security because many companies lack the ability to be adequately prepared, according to a new report from specialist insurer Beazley. According to the report, “Spotlight …
G7 Agrees to Avoid Higher Taxes for US and UK Companies
Insurance Journal | June 30, 2025
G7 Agrees to Avoid Higher Taxes for US and UK Companies
The United States and the Group of Seven nations have agreed to support a proposal that would exempt U.S. companies from some components of an existing global agreement, the G7 said in a statement on Saturday. The group has created …
‘Generali’ Sign Atop Insurer’s Skyscraper Offices Collapses in Milan
Insurance Journal | June 30, 2025
‘Generali’ Sign Atop Insurer’s Skyscraper Offices Collapses in Milan
One of the giant Generali signs that crown the Italian insurer’s head offices in Milan collapsed on Monday, remaining atop the 170 meter-high (558 ft) skyscraper but at risk of crashing to the ground, firefighters said on Monday. Generali, which …
People Moves: Liberty Specialty Markets Taps CNA Hardy’s Butt as UK Head of Casualty Claims; SiriusPoint Names Pryde From Catalina Re as Group Chief Risk Officer
Insurance Journal | June 30, 2025
People Moves: Liberty Specialty Markets Taps CNA Hardy’s Butt as UK Head of Casualty Claims; SiriusPoint Names Pryde From Catalina Re as Group Chief Risk Officer
This edition of Interntional People Moves details appointments at Liberty Specialty Markets and SiriusPoint. A summary of these new hires follows here. Liberty Specialty Markets Taps CNA Hardy’s Butt as Head of Casualty Claims, UK Liberty Specialty Markets (LSM), part …
Markets/Coverages: AEGIS London Raises Line Sizes for Political, Financial Risk Cover
Insurance Journal | June 30, 2025
Markets/Coverages: AEGIS London Raises Line Sizes for Political, Financial Risk Cover
AEGIS London, a top quartile Lloyd’s syndicate, has announced significant enhancements to its political and financial risk (PFR) offering. The syndicate has increased its sovereign non-payment (CF) and political risk (PR) line sizes from $20 million to $30 million, and …
Executives Get Combined 141 Years in Prison for Italy PFAS Spill
Insurance Journal | June 30, 2025
Executives Get Combined 141 Years in Prison for Italy PFAS Spill
Eleven former executives of companies linked to Miteni SpA were sentenced to a combined 141 years in prison by an Italian court for one of the largest groundwater contaminations of forever chemicals in Europe. Parent company Mitsubishi Corp., Japan’s biggest …
Hedge Fund Strategy Built on Catastrophes Taps a Hot New Trend – Parametrics
Insurance Journal | June 30, 2025
Hedge Fund Strategy Built on Catastrophes Taps a Hot New Trend – Parametrics
One of the most successful hedge fund strategies of recent years — insurance-linked securities — is latching on to an old idea whose popularity is suddenly soaring. Parametric insurance, where policyholders get quick payouts if weather-related metrics are met, used …
PwC’s AI Chief Says Firm Has Cut Prices as Tech Saves Staff Time
Insurance Journal | June 30, 2025
PwC’s AI Chief Says Firm Has Cut Prices as Tech Saves Staff Time
PricewaterhouseCoopers LLP, one of the world’s largest professional advisory firms, has cut prices for some services as clients raised the fact that the consultancy is using artificial intelligence to complete its work quicker. “Clients would hear us talking about using …
Reeves Plans Rule Change to Create UK Captive Insurance Market
Insurance Journal | June 30, 2025
Reeves Plans Rule Change to Create UK Captive Insurance Market
The UK government is planning to announce rule changes to help create a potential new insurance market worth billions of pounds as part of a drive to boost competitiveness. Chancellor of the Exchequer Rachel Reeves is expected to lay out …