Allstate Reports $1.7B in Q3 Pretax Catastrophe Losses, $630M From Helene
Insurance Journal
OCTOBER 17, 2024
Allstate Corp. doesn’t announce third quarter earnings until Halloween but today it released some scary September pretax catastrophe losses.
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Supporting the American Policyholder Association With Time and Money Is an Obligation If You Are a True Policyholder Advocate
Property Insurance Coverage Law
OCTOBER 17, 2024
The American Policyholder Association (APA) has emerged as a powerful force in the fight against insurance fraud, with recent achievements highlighting the critical importance of its work. The organization’s efforts, supported by dedicated legal professionals, concerned citizens, and courageous property insurance adjusters, have led to groundbreaking exposés that are shaking the foundations of the insurance … The post Supporting the American Policyholder Association With Time and Mon
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New York Updates Financial Services Cybersecurity Regulation to Address AI Risks
Insurance Journal
OCTOBER 17, 2024
The New York Department of Financial Services (DFS) has issued new guidance to assist the more than 3,000 firms including insurers it regulates in addressing cybersecurity risks arising from artificial intelligence (AI).
Bahri clinches $756m financing for Marinakis VLCCs deal
Splash: Finance and Insurance
OCTOBER 17, 2024
Saudi Arabia’s flagship line Bahri has secured $756m to partially finance nine very large crude carriers it agreed to buy from Evangelos Marinakis-controlled Capital Maritime & Trading earlier this year. The Riyadh-based company has penned a murabaha financing deal with Alinma Bank.
Leverage Trellis Court Data To Identify More Investment Opportunities
Advertiser: Trellis
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
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Elevator Door Was ‘Broken’ During Colorado Mine Tour Accident That Killed 1 And Trapped 12
Insurance Journal
OCTOBER 17, 2024
Investigators are trying to figure out what led to an elevator accident inside a former Colorado gold mine that killed a tour guide, injured four others and left a separate group of 12 people trapped for hours at the bottom …
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McKinsey to Pay at Least $500 Million in DOJ Opioid Probe
Insurance Journal
OCTOBER 17, 2024
McKinsey & Co. is nearing a deal with US prosecutors to pay at least $500 million to settle federal probes into its past work helping opioid makers boost sales, according to people familiar with the matter.
What Does an Insurance Adjuster Do?
Wren Insurance Agency
OCTOBER 17, 2024
We realize that not everyone lives and breathes insurance everyday like we do, so we like to take some time now and then to explain some "Insurance 101" items to ensure clients are as educated as possible when it comes to making decisions on insurance. At this time of year, typically due to Florida storms causing damage to our homes, there are a larger number of insurance claims than normal.
Philadelphia Eagles and 76ers Lose Delayed Covid Claim Cases
Insurance Journal
OCTOBER 17, 2024
Two Philadelphia professional sports team have lost their appeals over denied business interruption insurance claims tied to the COVID-19 pandemic. U.S.
Russian Black Sea port attacks see Ukraine reaching out to the IMO
Insurance Marine News
OCTOBER 17, 2024
Russia’s increased targeting of shipping and port infrastructure in Ukraine’s Black Sea ports has led Ukrainian authorities to seek help from the United Nations. The country, now more than two and a half years into a war with it far larger and better-equipped neighbour, has asking the International Maritime Organization to send a monitoring mission.
Take the Hassle Out of Claims Management
Advertiser: Trellis
Insurance professionals use Trellis to streamline claims management by analyzing legal trends, predicting outcomes, and strategizing effectively to serve clients better. Adjusters can evaluate claim validity, estimate settlement amounts, and identify potential litigation risks. Trellis' extensive State Trial Court Data can be leveraged to identify opposing/outside counsel and top mediators for insurance matters, evaluate the risk of new claims by viewing similar claim litigation history, and mor
Marsh McLennan Reports 6% Increase in Q3 Revenue
Insurance Journal
OCTOBER 17, 2024
Insurance broker Marsh McLennan reported a 6% increase in third quarter consolidated revenue to $5.7 billion, while revenue increased 5% on an underlying (organic) basis. Q3 operating income was $1.
Ice encroaches on Northern Sea Route
Insurance Marine News
OCTOBER 17, 2024
The winter sea ice shipping has encroached on the eastern parts of the Northern Sea Route unusually soon this year ,meaning that sailing in the area for low ice-class vessels should come to a halt any day now. However, it was reported that some cargo, such as the strategically important modules for Arctic LNG 2, The post Ice encroaches on Northern Sea Route appeared first on Insurance Marine News.
Travelers Triples Q3 Net Income, Reverses Underwriting Loss
Insurance Journal
OCTOBER 17, 2024
Travelers on Thursday said third quarter net income was $1.26 billion compared to net income of $454 million during the same period a year ago on record net premiums, favorable prior year reserve development, and higher investment income.
INTERCARGO asks RightShip to reconsider age limit change
Insurance Marine News
OCTOBER 17, 2024
A recent decision by RightShip to reduce the age limit of bulk carriers eligible for vetting inspections to 10 years, from the previous 14 years, has caused concern among INTERCARGO’s members. At the Association’s Executive Committee meeting held in London on 15th October it was asserted that the decision was made by RightShip without prior. The post INTERCARGO asks RightShip to reconsider age limit change appeared first on Insurance Marine News.
Worker Injured While Drunk on the Job Wins Claim Approval
Insurance Journal
OCTOBER 17, 2024
A worker injured when he fell from a ladder is entitled to workers’ compensation benefits despite the fact he was intoxicated at the time of the accident.
Pan Viva safely departs Unalaska after weather adventure
Insurance Marine News
OCTOBER 17, 2024
Bulk carrier Pan Viva (IMO 9453494)) which last weekend had to fight hard to stay away from the rocks on the shores of Unalaska in the Alaskan archipelago of the Aleutians has now resumed its journey, the US Coast Guard said Wednesday. The Korean-owned vessel was travelling in ballast from Dandong in China to the. The post Pan Viva safely departs Unalaska after weather adventure appeared first on Insurance Marine News.
Insurtech on the Silicon Prairie to be Held in Omaha
Insurance Journal
OCTOBER 17, 2024
The Nebraska Department of Insurance shared that Insurtech on the Silicon Prairie will take place in Omaha on Oct. 28-29, with topics including AI, autonomous vehicles, cybersecurity, venture capital, the role of AI in operations.
Ballast water discharge rules clarified for Canadian west coast
Insurance Marine News
OCTOBER 17, 2024
INTERTANKO had sought clarification from Transport Canada on the further requirements for ballast water discharge (BWD), specifically in West Coast ports. The procedure was clear for the East Coast of Canada. In that area, vessels do not need to exchange treated ballast or flush empty tanks unless heading to specific Canadian freshwater areas listed in.
Aon’s NFP Acquires Irish Financial, Benefits and Insurance Advisory Firm
Insurance Journal
OCTOBER 17, 2024
NFP, an Aon company and insurance brokerage, announced it has acquired IHI Group, the Dublin-based advisory firm that specializes in financial planning, healthcare and general insurance needs.
New Zealand mandates Biosecurity Pre-Arrival Report from May 1st 2025
Insurance Marine News
OCTOBER 17, 2024
New Zealand’s Ministry for Primary Industries (MPI), through Biosecurity New Zealand, has introduced the Biosecurity Pre-Arrival Report (PAR), for use by all commercial vessels calling at New Zealand ports from October 31st. The PAR will replace the previously required Master’s Declaration (MD) and Biofouling and Ballast Water Declaration (BBWD). The use of PAR will not.
Pennsylvania’s Enders Insurance Joins Unison Risk Advisors
Insurance Journal
OCTOBER 17, 2024
Unison Risk Advisors (URA) has acquired Enders Insurance, a family-run property/casualty insurance agency based in Harrisburg, Pennsylvania. Enders has more than 60 employees throughout its central Pennsylvania office locations including Lancaster, Reading and Middleburg.
UK adds 18 vessels to Russian sanctions list
Insurance Marine News
OCTOBER 17, 2024
The UK yesterday October 17th announced a significant package of sanctions targeting the Russian “shadow fleet” of oil tankers, which increasingly have been bypassing the $60 a barrel price cap. Obtaining finance for the Russia state and thus supporting its military actions in Ukraine. It has added 18 more vessels to the sanctions list. They. The post UK adds 18 vessels to Russian sanctions list appeared first on Insurance Marine News.
Oil Field Service Companies Face Lawsuit for Alleged Sexual and Racial Harassment
Insurance Journal
OCTOBER 17, 2024
Oil field service companies Bigfoot Energy Services and Iron Mountain Energy Services, operating as a single employer, violated federal law by failing to prevent widespread sexual and racial harassment in their workforce, the U.S.
Greek shipowners investing in LNG and LPG vessels
Insurance Marine News
OCTOBER 17, 2024
Since 2021 Greek shipowners have spent $18bn on newbuild gas vessels – termed “an unprecedented amount” – diversifying their portfolios away from traditional tanker, bulker and container asset classes, according to new research by VesselsValue, the data intelligence arm of maritime data and freight management solutions provider Veson Nautical. Its report ‘Greek Speculative S&P Investments’.
Climate Change Causes 379% Hike in Insured Damages in Canada Over 10 Years: Report
Insurance Journal
OCTOBER 17, 2024
The annual average insurable losses in the last decade increased in Canada by a whopping 379%, when compared to the prior 30-year average, according to an analysis from MyChoice, a Toronto-based insurtech company.
Pension fund and insurance company use of ETFs surges in Europe
Elmore
OCTOBER 17, 2024
Institutional iShares assets under management have been growing at a compound annual growth rate of nearly 30% in the region, according to BlackRock The post Pension fund and insurance company use of ETFs surges in Europe appeared first on Elmore Insurance Brokers.
Michigan to Pay $13M After Shooter Drill Terrified Psychiatric Hospital for Kids
Insurance Journal
OCTOBER 17, 2024
DETROIT (AP) — A judge has approved a $13 million settlement in a lawsuit over an unannounced active shooter drill at a Michigan psychiatric hospital for children, an event that terrified kids and staff and caused them to scramble for …
Blog Post: Implement Legal Department Financial Planning
LexisNexis
OCTOBER 17, 2024
Conducting a comprehensive financial analysis of spending trends in the legal department is a pivotal step towards optimizing resources and delivering exceptional value to the enterprise. Delving into the intricate details of legal department financial planning and the way expenditures are incurred allows organizations to uncover invaluable insights, especially cost-savings strategies.
Coastal Cities Have a Hidden Vulnerability to Storm Surge – Caused by Humans
Insurance Journal
OCTOBER 17, 2024
Centuries ago, estuaries around the world were teeming with birds and turbulent with schools of fish, their marshlands and endless tracts of channels melting into the gray-blue horizon.
Blog Post: CA9 on Exceptional Circumstances: Montejo-Gonzalez v. Garland
LexisNexis
OCTOBER 17, 2024
Montejo-Gonzalez v. Garland (2-1) "On their way to an initial hearing before an immigration judge (“IJ”) in Seattle, Washington, Claudia Elena Montejo-Gonzalez and her two minor children (“petitioners”) encountered two major car accidents and were late for the hearing. The IJ ordered them removed in absentia. Petitioners promptly moved to reopen, explaining that exceptional circumstances justified their late arrival to court.
Insurance Execs See Gen AI Necessary To Compete; Customers Wary
Insurance Journal
OCTOBER 17, 2024
Insurance industry investments in generative AI are expected to surge by over 300 percent from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business lines.
Blog Post: DHS Offers Protections for Lebanese Nationals Currently in the United States
LexisNexis
OCTOBER 17, 2024
USCIS, Oct. 17, 2024 " Certain Lebanese nationals will be eligible for DED and TPS, allowing them to work and temporarily remain in the United States WASHINGTON – The U.S. Department of Homeland Security (DHS) is announcing new actions to provide temporary immigration reprieve to eligible Lebanese nationals currently in the United States and allowing them the opportunity to request work authorization.
UK Working to Challenge Russian Shadow Oil Tanker Insurance
Insurance Journal
OCTOBER 17, 2024
The UK said three government bodies are working together to challenge Russian shadow fleet oil tankers if it perceives they have dubious insurance.
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