U.S. private market insured losses from Hurricane Francine are estimated to not exceed $2 billion, Moody’s RMS Event Response team said. Losses to the National Flood Insurance Program from the hurricane are estimated to be less than $200 million, the …
Insurance technology provider Zywave said Martin Simoncic is its new chief executive officer and Christian G. Kasper has joined as chief financial officer. Simoncic most recently served as president of PROS Holdings, a software-as-a-service (SaaS) solutions company using artificial intelligence. …
Russian insurers are playing a growing role facilitating the country’s oil shipments to India, its biggest buyer, data obtained from trade and shipping sources shows, helping to protect Moscow’s export revenue despite western sanctions. Russian firms provided insurance cover for …
Generali has reached an agreement to sell its 99.99% stake in its Turkish business, Generali Sigorta A.Ş., in a deal struck with four buyers in Turkey. Kiler Holding A.Ş. is buying a 42% stake in Generali Sigorta; Ekol Girişim Sermayesi …
The MEMIC Group, based in Portland, Maine, hired Scott Davis as a senior production underwriter overseeing the Virginia and District of Columbia territory. Davis, based in Virginia, joins MEMIC with over two decades of experience in multiline insurance and underwriting. …
The Awbury Group and Polo Managing Agency Ltd. have announced that Lloyd’s has granted “in principle” approval for Awbury Syndicate 2025 to commence underwriting from Jan. 1, 2025. Awbury Syndicate 2025 is focused on credit risks and will initially target …
A Ridgefield, Washington cabinet company has been cited for numerous safety violations including unguarded saw blades, spraying flammable glue next to ignition sources and not taking steps to lock down dangerous machinery. The Washington State Department of Labor & Industries …
A U.S. Department of Labor investigation has recovered $77,206 in back wages for five workers employed on a federally funded construction project after finding one subcontractor failed to pay prevailing wages and fringe benefits and another submitted falsified payroll records. …
Hawaii Employers’ Mutual Insurance Company Inc. is giving policyholders the largest dividend in the workers’ compensation carrier’s history. The HEMIC board of directors recently announced a $5 million dividend to qualifying policyholders. The company credits HEMIC’s steady growth and policyholder …
State leaders tasked with reviewing Maine’s preparations and responses to climate change-fueled natural disasters are at a crossroads. While Maine has seen seven federal disaster declarations for severe storms and flooding in the past three years, statewide enrollment in federally-backed …