By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE, CLP-A – Senior Vice President Going away to school is an exciting time for children and their parents. But, in addition to choosing classes, finding a place to live and making new friends, there are important issues that every college student needs to think about, such […]
Kevin O’Brien, President and CEO of the Inland Marine Underwriters Association (IMUA), announced that he will step down from his role on January 31, 2025. During a recent Executive Committee meeting, O’Brien informed IMUA’s officers of his intentions. After 14 years at the helm, he will be pursuing new opportunities outside the organization. IMUA is […]
A Vermont-based captive insurer has targeted New York’s affordable rental housing market at a time of that sector’s stress in availability and pricing.. The Milford Street Association Captive Insurance Co. will serve New York affordable rental buildings that have a regulatory agreement limiting rents and receive public financing, exclusively. Affordable housing professionals see rising insurance […]
As an extension of its rankings of insurance providers worldwide, and based in part on guidance from some of the largest underwriters in the sector, Insuramore has updated its global ranking of insurer (carrier) groups as measured by cyber insurance gross direct premiums written (GDPW) in 2023 (see www.insuramore.com/rankings/insurers/premiums-cyber). This analysis indicates that GDPW for cyber insurance can be […]
Progressive commits to investing in Florida, joining State Farm and several national carriers, and nine new domestic property insurers following 2023 reforms υJust four days after Hurricane Debby made landfall along the Big Bend, Florida’s Insurance Commissioner Michael Yaworsky announced several positive developments related to the state’s strengthening property insurance market. The news follows announcements […]
To promote efficient resolution of workers’ compensation claims, the New York State Workers’ Compensation Board will begin indexing every complete case on Sept. 26, 2024, for cases assembled on or after this date. For information on the announcement, see Subject Number 046-1704. As a result, the majority of claims assembled that contain a medical report of […]
Openly, the premium homeowners insurance provider, has announced it has begun offering its comprehensive coverage options to independent insurance agents and policyholders in Delaware. This launch marks the company’s expansion into its 24th state, following two successful rollouts in Connecticut and Virginia earlier this year. “Using cutting-edge data and technology, Openly empowers independent agents to deliver exceptional […]
Establishes Principles to Protect Consumers When Insurers Use Artificial Intelligence in Underwriting and Pricing Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris adopted guidance to protect consumers from unfair or unlawful discrimination by insurers using artificial intelligence. “New York has a strong track record of supporting responsible innovation while protecting consumers from financial harm,” […]
Following its April purchase of Argo’s in-force energy business, Applied Surety Underwriters now adds the majority of the balance of wide-ranging Argo surety portfolio, growing toward global top 10 player in the sector NEW YORK, NEW YORK – Applied Surety Underwriters (ASU), a subsidiary of Applied Underwriters’ United Risk Division, completed its acquisition of the […]
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