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Tag: insurance-journal

Trucordia Acquires Business of Virginia’s Archibald Insurance
Insurance Journal | December 10, 2024
Trucordia Acquires Business of Virginia’s Archibald Insurance
Utah-basrd insurance broker Trucordia has acquired the insurance business of Archibald Insurance, an agency with offices in Richmond, Midlothian and North Chesterfield, Virginia. Archibald Insurance offers personal and commercial insurance. By joining Trucordia, the Archibald team seeks to access expanded …
Sloop to Take Over for Drinkwater as Amwins President
Insurance Journal | December 10, 2024
Sloop to Take Over for Drinkwater as Amwins President
Ben Sloop is set to take over as president of Amwins Group at the start of 2025, the wholesale brokerage said. Sloop succeeds James Drinkwater, who has been with Amwins since 2004 and has served as president since 2018. He …
Allianz Raises Financial Targets for Next Three Years
Insurance Journal | December 10, 2024
Allianz Raises Financial Targets for Next Three Years
Allianz, one of Europe’s biggest insurers, has raised its three-year financial targets after outperforming its key goals for this year, the company said on Tuesday. Shares in Allianz fell 1.3% by 0832 GMT. The operator of the PIMCO brand sees …
Insurers’ Climate Losses Almost Match Premiums From Fossil Fuels
Insurance Journal | December 10, 2024
Insurers’ Climate Losses Almost Match Premiums From Fossil Fuels
Top insurance companies suffered $10.6 billion of climate-attributed losses this year, just shy of the $11.3 billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our Future. Of the 28 insurers reviewed, more than …
Catastrophe Bonds See Investor Influx After ‘Fantastic’ Run
Insurance Journal | December 10, 2024
Catastrophe Bonds See Investor Influx After ‘Fantastic’ Run
After emerging from an unusually active hurricane season with market-beating returns, catastrophe bonds are rapidly adding investors. Despite the increase in extreme weather — 2024 marked the ninth straight season in which the Atlantic basin suffered above-average storm activity — …
Yellen Warns Financial System Still Faces Commercial Real Estate, Crypto Risks
Insurance Journal | December 10, 2024
Yellen Warns Financial System Still Faces Commercial Real Estate, Crypto Risks
The US financial system continued to face vulnerabilities from commercial real estate risk and digital assets in 2024, Treasury Secretary Janet Yellen said on Friday, even as cooling inflation and low unemployment bolstered the broader economy. She signaled top US …
Study: A Meter of Sea Rise Could Impact $1 Trillion in Property on Southeast Coast
Insurance Journal | December 10, 2024
Study: A Meter of Sea Rise Could Impact $1 Trillion in Property on Southeast Coast
A meter of sea level rise by 2100 would affect more than 14 million people and $1 trillion worth of property along the Southeast Atlantic coast, a new study shows. A recent study published in the journal Nature Climate Change …
Environmentalists Headed to Court Over Proposed Oil Well in Florida Watershed
Insurance Journal | December 10, 2024
Environmentalists Headed to Court Over Proposed Oil Well in Florida Watershed
TALLAHASSEE, Fla. (AP) — Environmentalists are heading to court to try to stop a plan to drill for oil in the watershed of a vulnerable north Florida river. The challenge brought by the conservation group Apalachicola Riverkeeper against the state’s …
IICF Raises $1.4 Million for Northeast Nonprofits
Insurance Journal | December 10, 2024
IICF Raises $1.4 Million for Northeast Nonprofits
The Insurance Industry Charitable Foundation (IICF) reports that it raised more than $1.4 million at its 18th Annual Northeast Benefit Event last week in New York City. The gala hosted more than 600 professionals from the insurance industry for an …
New York Expands Workers’ Compensation For Mental Health to All Workers
Insurance Journal | December 9, 2024
New York Expands Workers’ Compensation For Mental Health to All Workers
New York Governor Kathy Hochul has signed legislation to expand workers’ compensation benefits to people who are facing job-related mental health crises. The new law, which goes into effect January 1, 2025, allows any worker to file for workers’ compensation …