Industry News

Insurance Journal

Insurers, Banks Must Take Climate Action or Face Profit Hit, Higher Capital Charges: BOE

May 24, 2022 Banks and insurers which fail to properly manage climate risks could face a 10% to 15% hit to annual profits and higher capital...

MS Amlin Partners With Insurtech Altelium to Offer Cover for Battery Energy Storage

May 24, 2022 MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s re/insurer, announced a partnership with insurtech Altelium to offer a construction...

Illinois Contractor Fined $378,000 for Exposing Workers to Deadly Fall Hazards

May 24, 2022 A Roselle, Illinois contractor’s history of violating federal safety standards and ignoring safety citations and penalties – and a willingness...

Munich Re Issues Green Bond in U.S. Market

May 24, 2022 Following its successful placement of green bonds in 2020 and 2021, Munich Re has successfully placed its first green subordinated bond in a private placement to qualified...

Claims Journal

Insurance Defense Counsel a New Target of Legal Malpractice Claims

May 24, 2022 The size of payouts for legal malpractice claims reached an all-time high last year, and for the first time some of those claims were made by insurers against the...

Traffic at NYC-Area Bridges and Tunnels Hits Pre-Pandemic Levels

May 24, 2022 Traffic at the Port Authority of New York and New Jersey’s bridges and tunnels has returned to pre-pandemic levels, partly due to changes in traveling habits, the...

Storms Kill at Least 8 in Canada, Leave Half a Million Without Power

May 23, 2022 The death toll from powerful thunderstorms in Canada’s two most populous provinces this weekend rose to at least eight, authorities said on Sunday, as...

Do Claims Against Musk Raise a Legal Issue for his Companies and Twitter Deal?

May 23, 2022 A report saying Tesla Inc CEO Elon Musk’s company SpaceX paid $250,000 to settle sexual harassment claims by a flight attendant on a private jet...

Best's Reviews

UK Regulator Says Insurer Audits Not Always Up to Professional Standards

May 23, 2022 Auditors in the United Kingdom may not have always been applying the highest professional standards when reviewing insurance companies’ books...

Florida Lawmakers Take Up Bills With Legal, Roofing Insurance Reforms, Reinsurance Help

May 23, 2022 On the cusp of the 2022 hurricane season, Florida lawmakers began considering bills to amend laws giving the property...

Lloyd’s Execs Predict Heightened Uncertainty, Volatility, Possible Recession

May 23, 2022 Lloyd’s expects the market to experience a period of heightened uncertainty and volatility for the next 18 months due to higher inflation...

Daniel H. Kugler, Risk Management and Insurance Executive, Dies at 68

May 23, 2022 Daniel H. Kugler, principal of Risk Management & Insurance Consultancy LLC, has died unexpectedly at the age of 68. Kugler had more than...