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Tag: insurance-journal

Cotality Estimates $1.1B in Damage to Residential Buildings from Central Texas Floods
Insurance Journal | July 30, 2025
Cotality Estimates $1.1B in Damage to Residential Buildings from Central Texas Floods
Cotality estimates that the recent Central Texas flash floods caused $1.1 billion in damage to residential buildings, with the National Flood Insurance Program providing as much as $135 million in insurance recoveries to home and business owners across the impacted …
People Moves: LSM Hires Nelson, Ciraci and Prout to Boost Renewables Offering; BMS Promotes Wookey to Managing Director, Bermuda Product Line Development
Insurance Journal | July 30, 2025
People Moves: LSM Hires Nelson, Ciraci and Prout to Boost Renewables Offering; BMS Promotes Wookey to Managing Director, Bermuda Product Line Development
This edition of International People Moves details appointments at Liberty Specialty Markets and the broker BMS. A summary of these new hires follows here. Liberty Specialty Hires Nelson, Ciraci and Prout to Boost Renewables Offering Liberty Specialty Markets (LSM), part …
Two Georgia Men Denied Bond After Charged With Large Cache of Homemade Bombs
Insurance Journal | July 30, 2025
Two Georgia Men Denied Bond After Charged With Large Cache of Homemade Bombs
Two Georgia men, denied bond, are in jail awaiting court action after they were charged with possessing a large amount of homemade explosive devices. The Georgia Office of Insurance Commissioner and State Fire Marshal’s Office, along with the Floyd County …
South African State Insurer Builds $1.1 Billion Riot Buffer
Insurance Journal | July 30, 2025
South African State Insurer Builds $1.1 Billion Riot Buffer
South Africa’s state-owned risk insurer, which the government bailed out so it could meet claims stemming from riots four years ago, has built up a 20 billion-rand ($1.1 billion) buffer to safeguard its finances in the event of anticipated future …
Huge Quake Rocks Russia’s Far East, Triggering Tsunami Warnings Around Pacific
Insurance Journal | July 30, 2025
Huge Quake Rocks Russia’s Far East, Triggering Tsunami Warnings Around Pacific
A very powerful magnitude 8.8 earthquake off Russia’s Far Eastern Kamchatka coast on Wednesday triggered tsunami warnings as far away as French Polynesia and Chile, and was followed by an eruption of the most active volcano on the peninsula. The …
Brown & Brown’s Profit Climbs on Fee and Commission Growth
Insurance Journal | July 30, 2025
Brown & Brown’s Profit Climbs on Fee and Commission Growth
Brown & Brown (BRO.N) posted a rise in second-quarter profit on Monday as the insurance broker benefited from higher commissions and fees driven by growing demand. Insurance spending has continued to grow, even as businesses and individuals pull back in …
Derechos: An Uncommon And Destructive Weather Event
Insurance Journal | July 30, 2025
Derechos: An Uncommon And Destructive Weather Event
Prolonged wind events that unleash heavy rainfall and travel far distances sometimes qualify as derechos. Derechos can happen almost anywhere in the United States but are most common in the central and eastern regions of the country. Winds typically gust …
Palo Alto Networks Reaches $25 Billion Deal for CyberArk
Insurance Journal | July 30, 2025
Palo Alto Networks Reaches $25 Billion Deal for CyberArk
Palo Alto Networks Inc. agreed to buy CyberArk Software Ltd. in a cash-and-stock deal valuing the Israeli cybersecurity company at about $25 billion. Palo Alto will pay CyberArk investors $45 per share and 2.2005 shares of Palo Alto stock, according …
Fermi National Accelerator Laboratory Hit in Cyberattack Targeting SharePoint
Insurance Journal | July 30, 2025
Fermi National Accelerator Laboratory Hit in Cyberattack Targeting SharePoint
The Fermi National Accelerator Laboratory, one of the Department of Energy’s 17 national labs, was attacked by hackers as part of a recent campaign seeking to exploit flaws in Microsoft Corp.’s SharePoint software. “Attackers did attempt to access Fermilab’s SharePoint …
‘New Normal’ Sets in as Pace of Insurance Agency M&A Becomes Clear
Insurance Journal | July 30, 2025
‘New Normal’ Sets in as Pace of Insurance Agency M&A Becomes Clear
Insurance agency mergers and acquisitions during the second quarter 2025 were up 11% over the prior quarter, but M&A activity for the first half of the year is down 8% compared to last year, according to investment banking and financial …