Reinsurers have boosted their 2022 probable maximum loss (PML) exposures as higher prices continues to attract more capital to property-catastrophe risks, according to Moody’s Investors Service. Reinsurers’ public disclosures of their Jan. 1, 2022 modeled probable maximum loss (PML) exposures …
Fitch Ratings downgraded California Earthquake Authority’s Issuer Default Rating and revenue bond ratings to ‘A-‘ from ‘A’. The Rating Outlook is Stable. The rating action follows the vote of the CEA’s Governing Board to reduce the target claims paying capacity …
A jury has awarded $102.5 million to two women who sued a Northern California school district over what they said was officials’ failure to stop a middle school teacher from sexually grooming and abusing them as minors. Parents had repeatedly …
The family of a man with mental health issues who was shot and killed by a Spokane County Sheriff’s Deputy in Washington will receive $1 million. The Spokane County Commissioners approved the federal civil rights lawsuit settlement this week, The …
KGM Underwriting Services, a UK specialist motor insurer and subsidiary of Howden Group, announced the acquisition of Eridge Underwriting Agency, a managing general agent (MGA) that caters for specialist and higher rated motor insurance. This acquisition, expected to complete in …
Los Angeles Dodgers pitcher Trevor Bauer sued The Athletic and former reporter Molly Knight, accusing them of “creating and spreading the false narrative” that he had fractured a woman’s skull during a sexual encounter. The 26-page complaint, filed in U.S. …
A Massachusetts judge on Wednesday dealt state securities regulators a major setback in their enforcement action against online brokerage Robinhood by declaring the state’s new fiduciary duty rule that underlies parts of the case invalid. Suffolk County Superior Court Judge …
Ford Motor Co. is recalling 737,000 vehicles in the United States over a part that could develop an oil leak and a software error that could hinder braking, it said on Friday. The automaker is recalling 345,451 of its 2020-2022 …
Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? Insurance Journal is searching for young insurance agents to participate in this year’s Young Insurance Agents Opinion Survey. Tell us what you …
This edition of International People Moves details appointments at AXIS Specialty Europe and SCOR Syndicate. A summary of these new hires follows here. AXIS Specialty Europe Names Mullarkey as CEO AXIS Capital Holdings Ltd. announced the appointment of Fintan Mullarkey …