Insurance Business America

07/31/2024

Starting an insurance agency in Florida comes with unique challenges and opportunities. Insurance Business offers a detailed guide to help aspiring entrepreneurs navigate the requirements and understand the distinctive aspects of the Sunshine State's insurance market.

Discover if this venture is right for you and learn how to plan for success.

https://hubs.la/Q02JpcCr0

Opening an insurance sales business in a state facing unique risks requires careful planning. Here's a guide on how to start an insurance agency in Florida

07/31/2024

As the insurance industry grapples with increasing losses from secondary perils, parametric reinsurance solutions are being explored as a potential answer to the insurability crisis. Demex CEO Bill Clark shares insights on the challenges and opportunities in leveraging parametric reinsurance to support primary insurers.

If reinsurers won't come 'down the tower', how can the industry meet them halfway?

07/30/2024

The Mississippi Attorney General’s Office has requested the dismissal of a lawsuit challenging the state's new laws on ambulance service coverage and reimbursement rates.

Suit argues that the law is overly vague and should be invalidated

07/30/2024

Discover the latest insights from Falvey Insurance Group on navigating current trends in inland marine insurance. Understand the crucial role this insurance plays in protecting land transportation and off-site storage.

https://hubs.ly/Q02Jp20y0

Here's what you need to be on top of in the space

07/30/2024

Greg Poorvin, AVP and senior reinsurance territory manager at FM Boiler Re, shares insights on navigating the evolving reinsurance landscape. With a focus on adaptability, technology integration, and strategic partnerships, FM Boiler Re supports clients in managing risks and regulatory changes.

Greg Poorvin, AVP at FM Boiler Re, on the rise of tech in meeting client expectations

07/30/2024

As 53% of connected medical devices in hospitals have known critical vulnerabilities, cyber risks in healthcare are a growing concern. Experts Kirsten Simonson and Jennifer Ampulski from Travelers highlight the importance of addressing these threats and offer strategies for brokers to guide clients in the medical and life sciences sectors.

53% of connected medical devices in hospitals have known critical vulnerabilities

07/30/2024

: Join Dan Mogelnicki of Tokio Marine HCC, Jacqueline Waters of Aon, Dwight Williams from Risk Strategies, and Larry Fine of WTW in our latest roundtable discussion episode. They provide key insights into professional liability rates, developments in the A&E space, and the impact of healthcare changes on liability coverage.

Discover emerging trends and increased product interest here: https://hubs.ly/Q02Jp3s50

A host of experts offer their insights on the market

07/30/2024

Aon's president Eric Andersen highlights the global insurance market's ongoing transition phase throughout 2024. He sees this period as a "great opportunity" for clients to revamp their policy structures and reevaluate their programs.

Brokers can seize a "great opportunity" during this period

07/30/2024

Chad Beadles from Davies dives into the nuances of cannabis insurance alongside Nicole Panteloucos from Insurance Business. Learn about the strategic advantages and regulatory challenges shaping the industry's future.

https://hubs.la/Q02Jp4Mk0

"We focus on dispelling fears and emphasizing robust risk management"

07/30/2024

MAPFRE's H1 2024 results show strong growth! Revenue: €17.72B, Net Result: €461.6M. CEO Antonio Huertas highlights strategic plan.

CEO points to company's strategic plan

07/30/2024

A generational shift is occurring in personal lines at Cincinnati Financial Corp, according to president and CEO Steve Spray.

"We are open for business"

07/29/2024

Kansas City Life Insurance Company reported a net income of $4.7 million, or $0.49 per share, for the second quarter of 2024, compared to $4.5 million, or $0.46 per share, in the same period in 2023.

Certain improvements were offset by declining insurance revenues

07/29/2024

Explore the strategic alliance between WINT and HSB, driving innovation in water intelligence technology. Alon Geva, CEO of WINT, discusses the impact of their AI-based solution in mitigating risks and enhancing operational efficiency.

https://hubs.la/Q02Jc3XR0

The behind-the-scenes story of how a high-tech startup and insurance giant joined forces

07/29/2024

National General Holdings Corp., an Allstate company, faces a lawsuit under FIRREA for allegedly improperly force-placing Collateral Protection Insurance (CPI) on vehicles financed through Wells Fargo. This affected 655,000 vehicle owners and led to numerous consumer complaints. The lawsuit underscores the necessity for fair business practices in the insurance industry.

Troubled insurer faces massive lawsuit over auto insurance - 655,000 vehicle owners could be affected

07/29/2024

Join us at the Women in Insurance Summit NY 2024 on September 12 at the Sheraton Universal Hotel, New York. Featuring keynote speaker Jess Ekstrom, this event is dedicated to empowering women in the insurance industry.

Don’t miss her talk on purpose-driven thinking for unstoppable growth.

https://hubs.la/Q02Jgnd50

Upcoming event will feature this social entrepreneur and best-selling phenomenon

07/29/2024

Insurance is required by law to protect people financially during accidents and disasters. In the US, insurance requirements vary by state, but almost all states mandate car, motorcycle, and workers' compensation insurance. While health insurance is no longer federally required, some states still impose penalties for not having coverage.

Learn more about the state-specific insurance mandates in our guide.

https://hubs.la/Q02Jc5Tf0

Insurance is required by law because it protects people financially when accidents and disasters strike. Find out what policies are mandatory in your state

07/29/2024

Insurance agencies must implement a comprehensive data strategy to sustain growth and protect operations. Oakbridge Insurance’s Henry Mahler and John Sweet share insights on leveraging data, enhancing cybersecurity, and integrating IT systems efficiently.

To sustain effective growth and protect their expansive operations, insurance agencies must implement a comprehensive data strategy.

07/29/2024

Sixth Street has entered a definitive agreement to acquire Enstar for $5.1 billion, with Liberty Strategic Capital, JC Flowers & Co LLC, and other institutional investors also involved. Michael Muscolino, Sixth Street co-founder, emphasized the company's commitment to supporting Enstar’s ongoing success.

Transaction to close in mid-2025

07/29/2024

Ivans is revolutionizing insurance connectivity, enabling agencies to save up to two hours per employee each day through automated information exchange. Kathy Hrach, SVP of Product Management at Ivans, discusses how their technology drives operational excellence and boosts profitability.

https://hubs.la/Q02Jb_bD0

Agencies can save two hours per employee each day with automated information exchange

07/29/2024

Dive into empowering insights at the Women in Insurance Summit New York 2024! 🎤

Join Lenika Milne, CMO at One80 Intermediaries, and industry leaders as they discuss strategies to empower women in insurance. Discover how authenticity, leveraging strengths, and personal stories drive career success in our dynamic industry.

🔗 Register now to secure your spot: https://hubs.la/Q02DptK70

07/27/2024

🌟 Celebrating the top specialist wholesale insurance brokers of 2024!

Alison Green from Capitol Special Risks, Eric Richter from Western Pacific Insurance Network, Nick Carozza from Risk Placement Services, and Anthony Manna from Jencap are setting new standards in insurance excellence with their specialized expertise and dedication.

Read more here: https://hubs.la/Q02FVZyS0

07/27/2024

Join the vibrant community at the Women in Insurance Summit New York 2024! 🎤 Register now to be part of the movement and gain valuable insights and connections.

Don't miss out on this opportunity to empower your career in insurance!

https://hubs.la/Q02GPmQJ0

07/27/2024

WTW, a global advisory, broking, and solutions company, announced its financial results for the second quarter of 2024. The company reported a 5% increase in revenue, reaching almost US$2.3 billion, with organic growth of 6%.

Organisation saw an increase of 5% in revenue

07/26/2024

The shift from 'sick care' to a comprehensive approach to wellbeing is crucial. Wendy Sherry, CEO of Cigna’s Global Health Benefits, discusses how a focus on vitality, mental health, and holistic support can enhance employee engagement, productivity, and overall organizational success. Discover the key insights that are reshaping the future of workplace health.

Following the evolution from 'sick care' to holistic healthcare

07/26/2024

Alan Waring of Amwins Bermuda explains Captives 101: a strategic approach for brokers to meet clients' specific insurance needs amidst market challenges.

https://hubs.la/Q02J4bBp0

Amwins Bermuda breaks down this increasingly viable insurance option

07/26/2024

We are seeking the industry's leading professionals who are making an impact despite market challenges, regulatory pressures, and high client expectations. This is your chance to spotlight those who are truly making a difference in the reinsurance sector.

Nominations are open until August 16. Submit yours today!

ReInsurance Business is searching for the industry's leading professionals

07/26/2024

The recent CrowdStrike outage, which disrupted millions of Microsoft devices, has exposed critical vulnerabilities in business interruption insurance. Tancred Lucy from Acrisure London Wholesale discusses the fallout.

Will insurers potentially look to apply further coverage restrictions?

07/26/2024

Corey Alison, EVP & National Real Estate Practice Leader for Casualty at Amwins, offers an in-depth look at the insurance landscape for multi-family real estate in Georgia. With challenges including rising retentions, detailed risk assessments, and the impact of AI and crime scores, Alison emphasizes the need for creative solutions and thorough information to secure adequate coverage.

A look at the ever-evolving real estate market and the repercussions for insurance

07/26/2024

The jury found Lockton’s southeast operation and former brokers in breach of noncompete agreements, involving a complex scheme to divert USI’s business. This case underscores the significant legal implications of noncompete and nonsolicitation agreements in the insurance industry.

Read more about this landmark decision:

Lawsuit claimed that Lockton's southeast operation and former brokers breached noncompete agreements

07/26/2024

At the MGAA Conference 2024, J Powell Brown discussed the future of consolidation in the insurance market. Despite predictions of significant consolidation, Brown & Brown remains committed to strategic growth and preserving their unique culture. With a focus on cultural fit and financial viability, the firm stands out in a crowded market.

Brown & Brown CEO on firm's acquisition strategy