| Today's Headlines | March 3, 2022 |
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Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social inflation on rising claims and defense costs. Separately, in mid-January, Kevin LaCroix, the author of the D&O Diary blog, noted that regular economic inflation—in... read more | | |
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Conservative U.S. Supreme Court justices on Monday appeared skeptical of the federal government's authority to issue sweeping regulations to reduce carbon emissions from power plants in a case that could undermine President Joe Biden's plans to tackle climate change. The court, whose 6-3 conservative majority has shown wariness toward broad federal agency actions, was weighing... read more | | |
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AM Best announced on Tuesday that the rating agency won't change the A- (Excellent) financial strength ratings for the operating subsidiaries of James River Group Holdings, Ltd., a day after the insurer announced a fourth-quarter loss $66.2 million. The bottom-line net loss for the final quarter, contributing to a $172.8 million loss for all of... read more | | |
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Insured losses from February's windstorms Dudley and Eunice will likely fall between $3.4 and $5.1 billion (3.0 and 4.5 billion euro), with Germany accounting for around 40 percent of the total loss, according to risk modeling firm RMS. Another 20 percent of the loss will likely be in the Netherlands and about 15 percent in... read more | | |
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Warnings that pro-Russian ransomware gangs would snarl networks in Ukraine and its allies have so far failed to materialize amid disarray among the criminal underworld often behind such attacks and fears insurers would not pay out. Conti, one of the most notorious Russia-based cybercrime groups known for using ransomware to extort millions of dollars from... read more | | |
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Cyber claims from small and midsize businesses saw a "material uptick" in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its 2022 Cyber Claims Report, Coalition concluded that from 2020 to 2021, losses from funds transfer fraud (FTF) increased 69 percent overall, and among enterprises... read more | | |
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Lloyd's of London has appointed Sara Gomez as chief people officer (CPO). She will focus on developing Lloyd's talent, leadership and inclusion strategy. She brings experience as a CPO from a career that spans roles in the retail, commercial and financial sectors, most recently at the fintech Greensill. Before that Gomez was at Moss Bros,... read more | | |
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| | Join Us Wed. April 6 at 10 am PST, 1pm EST In just the last decade, we are ... read more | |
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| | Today, there are four major forces that are putting pressure on the property ... read more | |
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| | Join us on Wed. March 9th, 10 am PST, 1 pm EST Over-pricing policies could ... read more | |
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| | This must-read white paper illuminates the role technology plays in solving two ... read more | |
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| | Recent studies indicate that consumers are willing to switch insurance ... read more | |
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