Insurance and Risk - Insurance Industry Brief

Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Property Insurance Coverage Law

MARCH 18, 2025

Seeing firsthand the devastating aftermath and hearing the deeply emotional stories from these homeowners is heartbreakingbut whats even worse is witnessing how some insurance companies continue to compound their customers’ trauma … The post Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Policyholder

Policyholder Risk Property Insurance Insurance Companies

Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Property Insurance Coverage Law

MARCH 18, 2025

Seeing firsthand the devastating aftermath and hearing the deeply emotional stories from these homeowners is heartbreakingbut whats even worse is witnessing how some insurance companies continue to compound their customers’ trauma … The post Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Policyholder

Policyholder Risk Property Insurance Insurance Companies

Ryan Specialty Completes Buy of Velocity Risk Underwriters

Insurance Journal

FEBRUARY 4, 2025

Specialty insurance provider Ryan Specialty reported it has completed the acquisition of Velocity Risk Underwriters, LLC from funds managed by Oaktree Capital Management, L.P. Based in Nashville, Tennessee, Velocity is a managing general underwriter (MGU) providing first-party insurance coverage for …

Underwriter

Underwriter Underwriting Risk Insured

People Moves: Willis Promotes Easton to Global Head of ART and Head of Western Europe, Risk & Analytics; Arch Insurance UK Division Promotes 4 Senior Leaders

Insurance Journal

FEBRUARY 7, 2025

This edition of International People Moves details appointments at Willis and Arch Insurance UK. Willis Promotes Easton to Global Head of ART and Head of Western Europe, Risk & Analytics Willis, a … A summary of these new hires follows here.

Risk

Risk Insured Insurance Insurer

Take the Hassle Out of Claims Management

Advertiser: Trellis

Insurance professionals use Trellis to streamline claims management by analyzing legal trends, predicting outcomes, and strategizing effectively to serve clients better. Adjusters can evaluate claim validity, estimate settlement amounts, and identify potential litigation risks.

Claim

UK’s Specialist Risk Group Acquires Specialist Schemes Broker, Brentacre Insurance

Insurance Journal

MARCH 4, 2025

Specialist Risk Group (SRG), the London-based insurance intermediary, announce the acquisition of Brentacre Insurance, a specialist broker with deep expertise in providing insurance for modified and performance vehicles, subject to regulatory approval. Financial details of the transaction were not disclosed.

Broker

Broker Risk Insured Insurance

Peril Based Risk Scoring Is a Growing Trend

Property Insurance Coverage Law

MARCH 23, 2025

Every once in a while, a piece of nerdy insurance legislation catches my eye, not because it disrupts the industry overnight, but because it signals a trend about risk and how property insurance is going to operate. Colorados newly passed HB 25-1182 is a bill that may not make national headlines, but it should.

Risk

Risk Property Insurance Insured Insurance

King Risk Partners Acquires Connecticut’s Suzio Insurance

Insurance Journal

OCTOBER 30, 2024

Florida-based insurance broker King Risk Partners reports it has acquired Suzio Insurance Center, Inc., an independent insurance agency based in Meriden, Connecticut. Suzio Insurance Center was started in 1974 by the late Franklin Suzio and is currently headed by James …

Risk

Risk Insurance Broker Insurance Agency Insured

Specialist Risk Group Acquires Renewal Rights of London-Based Taxi Insurance Broker

Insurance Journal

AUGUST 30, 2024

Specialist Risk Group (SRG) announced the acquisition of the ongoing renewal rights of Morton Insurance Brokers, a specialist in private hire and taxi insurance across the UK since 1987. Financial details of the transaction were not disclosed. The acquisition strengthens …

Insurance Broker

Insurance Broker Broker Risk Insured

Risk Strategies Acquires Felsen Insurance of New Jersey

Insurance Journal

NOVEMBER 13, 2024

North American specialty insurance brokerage Risk Strategies reports it has acquired Felsen Insurance Services, Inc., a New Jersey-based agency offering commercial and personal property/casualty insurance. Terms of the deal were not disclosed. Established in 1985, Felsen is based in Denville, …

Risk

Risk Personal Property Casualty Insurance Commercial

Private Equity Tie-Ups With Insurers Create Risks, BOE Says

Insurance Journal

DECEMBER 2, 2024

Private equity’s advance into the insurance sector exacerbates the risk of “fire sales” that disrupt the functioning of financial markets, the Bank of England warned. A growing number of PE firms in the US have acquired life insurers, while British …

Risk

Risk Life Insurance Insured Insurance

Cyber Insurance Market to Expand as Risks Evolve: Gallagher

Insurance Journal

JANUARY 16, 2025

While 2024 brought record-breaking data-breach costs and evolving cyber risk, all signs point to stable rates and ample capacity in 2025. Intense competition among cyber insurance carriers has resulted in higher limits, enhanced cyber risk management services, flexibility in insurance …

Cyber

Cyber Risk Insurance Carrier Insured

China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers

Insurance Journal

FEBRUARY 10, 2025

China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity buffers.

Insured

Insured Insurance Insurer Risk

Risks Too Big for Insurers Just Fed a $200 Billion Market Boom in Captives

Insurance Journal

SEPTEMBER 3, 2024

As the market for in-house insurance surpasses a record $200 billion, the underlying reasons for that boom show how a hotter, less stable planet is redrawing the risk map for corporations. Captive insurance, where companies create their own coverage vehicles, …

Risk

Risk Insured Insurance Insurer

Howden Said in Talks to Buy Insurance Broker Risk Strategies

Insurance Journal

JANUARY 31, 2025

Howden, one of the world’s largest closely held insurance brokers, is in talks to acquire Risk Strategies, according to people with knowledge of the matter. The talks to acquire Risk Strategies, which is ultimately backed by private equity firm Kelso …

Insurance Broker

Insurance Broker Broker Risk Insured

Western States Top Wildfire Risk Scores in New Analysis

Insurance Journal

SEPTEMBER 2, 2024

California, Oregon, Colorado, Washington and Arizona are the states most at risk for wildfires, earning an “F” rating, according to a new analysis by Guidewire detailing wildfire risk in the U.S. at local, state, and national levels. Guidewire’s HazardHub data …

Risk

Risk Property Insurance Insurer Insured

Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers

Insurance Journal

SEPTEMBER 9, 2024

The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant threats posed by aggregation risk, and the …

Risk

Risk Cyber Premium Insured

Risk Strategies Acquires Michigan’s Comprehensive Benefits, Gabrielson Insurance

Insurance Journal

JANUARY 30, 2025

Risk Strategies announced the acquisition of Comprehensive Benefits, Inc. and Gabrielson Insurance & Financial Services, both located in the Greater Detroit area. The joint acquisition preserves an established working relationship between the two partner companies, providing increased capabilities for the …

Risk

Risk Insured Insurance Insurer

Cyber, Business Interruption, Natural Disasters Listed as Top 3 Business Risks: Allianz

Insurance Journal

JANUARY 15, 2025

Cyber, business interruption and natural catastrophes are the top three risks that concern global businesses, according to the Allianz Risk Barometer 2025. Cyber incidents, such as ransomware attacks, data breaches and IT outages, is the top global risk for 2025, …

Business Interruption

Business Interruption Cyber Risk Commercial

Wildfire Risk Upends California’s Cannabis Heartland as Insurance Vanishes

Insurance Journal

SEPTEMBER 18, 2024

Hannah Whyte is one of thousands of Californians who have struggled to insure their property in the event of wildfire. Her 77-acre farm nestled deep in a wildfire-vulnerable forest lost its coverage from State Farm after the mountainous region burned …

Risk

Risk Insured Insurance Insurer

Risk Strategies Acquires Ohio’s Cornerstone

Insurance Journal

NOVEMBER 21, 2024

Risk Strategies announced it has acquired the assets of Ohio-based employee benefits specialty organization Cornerstone Broker Insurance Services Agency, Inc., an Ohio-based national provider of employee benefits solutions. The sale also included the assets of ARC Benefit Solutions, which provides …

Risk

Risk Broker Insured Insurance

Peril Based Risk Scoring Is a Growing Trend

Property Insurance Coverage Law

MARCH 23, 2025

Every once in a while, a piece of nerdy insurance legislation catches my eye, not because it disrupts the industry overnight, but because it signals a trend about risk and how property insurance is going to operate. Colorados newly passed HB 25-1182 is a bill that may not make national headlines, but it should.

Risk

Risk Property Insurance Insured Insurance

New York Updates Financial Services Cybersecurity Regulation to Address AI Risks

Insurance Journal

OCTOBER 17, 2024

The New York Department of Financial Services (DFS) has issued new guidance to assist the more than 3,000 firms including insurers it regulates in addressing cybersecurity risks arising from artificial intelligence (AI). In a letter to letter companies, DFS Superintendent …

Risk

Risk Insured Insurance Insurer

Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Prof. Allan Manning

FEBRUARY 10, 2025

I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. Where a client, sought to insure for less than 12 months they would offer a discount on the premium rate.

Business Interruption

Business Interruption Claim Insured Insurance

New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown

Insurance Journal

SEPTEMBER 4, 2024

In an unassuming white and blue office building in Freeport, a few miles into Nassau County, sits the headquarters of American Transit Insurance Co. The 52-year-old, family-owned firm is hardly a household name, but it’s vital to how New Yorkers …

Risk

Risk Building Insured Insurance

King Risk Partners Acquires Kerr Agency in Connecticut

Insurance Journal

FEBRUARY 19, 2025

Florida-based insurance broker King Risk Partners announced its acquisition of the Kerr Agency Inc., an independent insurance agency located in Simsbury, Connecticut. This strategic acquisition furthers King Risk Partners’ expansion across the Northeast. Kerr is King’s fifth agency in Connecticut.

Risk

Risk Insurance Broker Insurance Agency Broker

Unison Risk Advisors Adds Avondale as First to Join Its Non-Retail Division

Insurance Journal

OCTOBER 22, 2024

Unison Risk Advisors (URA) reports that Avondale Insurance Associates has joined the firm and is the first company to join URA’s non-retail division. Established in 2006, Avondale Insurance Associates is an excess and surplus lines underwriting management company across all …

Risk

Risk Underwriter Underwriting Insured

More People Moving In Than Out of Counties With High Catastrophe Risk

Insurance Journal

AUGUST 8, 2024

Despite the dangers and expense associated with living in high-risk areas, large numbers of people are still moving to parts of America most impacted by wildfires, flooding and extreme heat. According to a new report from real estate company Redfin, …

Risk

Risk Personal Property

Cyber Hits All-Time High Concern for Business Leaders, Says Travelers Risk Index

Insurance Journal

SEPTEMBER 25, 2024

For the fourth time in six years, cyber risk ranked highest as a concern for business leaders. In fact, this year cyber as a top concern reached an all time high, according to the 2024 Travelers Risk Index. Cyber was …

Cyber

Cyber Risk

Best Agency to Work For – East Gold Winner: Mackoul Risk Solutions

Insurance Journal

NOVEMBER 25, 2024

At Mackoul Risk Solutions, ‘Employees Come First’ Instead of becoming a major league umpire, Ed Mackoul chose to help his father build an insurance empire. Ed wasn’t sure how his life would turn out before joining Mackoul & Associates in …

Risk

Risk Building Insured Insurance

Wildfire-Risk Models Are Struggling to Predict LA-Style Fires

Insurance Journal

JANUARY 22, 2025

Even the most-sophisticated scientific models fail to capture all the risk factors or properly account for the increasing impact of climate change. It’s a major problem for homeowners, insurers and investors, as … Among natural disasters, wildfires are the great unknown.

Risk

Risk Insurance Insurer Insured

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Insurance Journal

JANUARY 24, 2025

January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven the global economy toward “geoeconomic fragmentation.” ” Geoeconomics refers to the intersection of geopolitical forces and economic policies.

Insured

Insured Insurance Insurer Policy

King Risk Adds to SW Florida Presence with Bruce Hendry Agency

Insurance Journal

JANUARY 16, 2025

King Risk Partners, a major U.S. brokerage and insurance agency based in Gainesville, Florida, has acquired Bruce Hendry Insurance in Immokalee, Florida, southeast of Fort Myers. It is the latest expansion move for King Risk into southwest Florida, the firm …

Risk

Risk Insurance Agency Insured Insurance

California at Risk of New Insurance Bailout Amid Fire Danger

Insurance Journal

MARCH 25, 2025

history, California’s insurer of last resort is careening toward another hot and dry summer with its coffers already strained. As Los Angeles-area residents recover from one of the costliest natural disasters in U.S. That’s raising the prospect that state residents …

Risk

Risk Insured Insurance Insurer

Italy to Require Companies Buy Insurance for Climate Risks

Insurance Journal

DECEMBER 3, 2024

1, every company in Italy must buy insurance to protect its assets from floods, landslides and other natural hazards that have become more common thanks to global warming. Starting Jan. It’s the latest sign of Europe’s rising anxiety about climate …

Risk

Risk Protection Insured Insurance

Ryan Specialty to Acquire Nashville-Based Velocity Risk Underwriters MGU

Insurance Journal

JANUARY 7, 2025

Ryan Specialty, a specialty insurance services firm and trading partner for agents and brokers, plans to acquire Nashville-based Velocity Risk Underwriters, with a closing date early this year. Velocity Risk, providing coverage for catastrophe-exposed properties, is a managing general underwriter …

Underwriter

Underwriter Underwriting Risk Broker-Agent

Maryland Could Have Reduced Risk of Key Bridge Collapse: NTSB

Insurance Journal

MARCH 21, 2025

The National Transportation Safety Board (NTSB) is harshly criticizing Maryland officials for failing to conduct a risk assessment of the Francis Scott Key Bridge before it collapsed a year ago and is recommending that 30 owners of 68 bridges across …

Risk

People Moves: Liberty Mutual Names Orloff President, Global Risk Solutions N.A.

Insurance Journal

DECEMBER 3, 2024

Liberty Mutual Insurance, headquartered in Boston, named Marc Orloff as president of Global Risk Solutions (GRS) North America, effective Jan. Orloff will lead GRS North America’s financial and operational performance, which includes commercial and specialty businesses in the U.S., …

Risk

Risk Commercial Insured Insurance

As E&S Market Growth Hits New Heights, Some Risk May Be There to Stay: AM Best

Insurance Journal

SEPTEMBER 24, 2024

surplus lines market for the first time surpassed the $100 billion mark in direct premiums written, and some of the risk that has found non-admitted insurers might stay there beyond an eventual turn in the market … In 2023 the U.S.

Risk

Risk Premium Insured Insurance

Resilience: Third-Party Risk Involved in 31% of Cyber Claims

Insurance Journal

MARCH 23, 2025

More merger-and-acquisition activity and technology consolidation have given cyber hackers plenty of entry points to exploit, making third-party cyber risk a dominant driver of claims for Resilience in 2024. New research from the San Francisco-based cyber solutions company found 31% …

Cyber

Cyber Claim Risk

Specialist Risk Group Acquires Ecclesia Group’s Assets in Netherlands and Belgium

Insurance Journal

JANUARY 24, 2025

Specialist Risk Group (SRG), the London-based insurance intermediary, announced it will acquire the assets of Ecclesia Group in The Netherlands and Belgium a move that will see seven businesses and 700 new colleagues across the two countries join SRG.

Risk

Risk Broker-Agent Insured Insurance

Cyber Security and Risk Mitigation

Insurance Journal

AUGUST 18, 2024

Security leaders should be exercising every available option to upgrade their security posture, and cyber insurance policies could make or break the resiliency for many organizations across nearly all industries — K-12 education, retail, healthcare, manufacturing and more. Just last …

Cyber

Cyber Risk Insurance Policy Policy

Insurance Adjusters and Estimators—Do You Really Understand Construction Specifications? Learn From the Construction Specification Institute

Property Insurance Coverage Law

FEBRUARY 7, 2025

Steven Coombs is someone I would affectionally call a master insurance coverage nerd. He recently wrote an International Risk Management Institute n/k/a IRMI article, General Requirements versus General Conditions. … The post Insurance Adjusters and EstimatorsDo You Really Understand Construction Specifications?

Property Insurance

Property Insurance Insured Insurance Insurer

People Moves: Augment Risk Tabs McElhiney to Lead New Captive Offering

Insurance Journal

DECEMBER 19, 2024

Augment Risk, the reinsurance and risk capital solutions broker, announced the appointment of Steve McElhiney as partner of newly created captive and alternative risk transfer solutions offering. Based in Dallas, Steve will develop Augment Risk’s efforts in creating legacy solutions …

Risk

Risk Broker

Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Trending Sources

Ryan Specialty Completes Buy of Velocity Risk Underwriters

People Moves: Willis Promotes Easton to Global Head of ART and Head of Western Europe, Risk & Analytics; Arch Insurance UK Division Promotes 4 Senior Leaders

Take the Hassle Out of Claims Management

UK’s Specialist Risk Group Acquires Specialist Schemes Broker, Brentacre Insurance

Peril Based Risk Scoring Is a Growing Trend

King Risk Partners Acquires Connecticut’s Suzio Insurance

Specialist Risk Group Acquires Renewal Rights of London-Based Taxi Insurance Broker

Risk Strategies Acquires Felsen Insurance of New Jersey

Private Equity Tie-Ups With Insurers Create Risks, BOE Says

Cyber Insurance Market to Expand as Risks Evolve: Gallagher

China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers

Risks Too Big for Insurers Just Fed a $200 Billion Market Boom in Captives

Howden Said in Talks to Buy Insurance Broker Risk Strategies

Western States Top Wildfire Risk Scores in New Analysis

Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers

Risk Strategies Acquires Michigan’s Comprehensive Benefits, Gabrielson Insurance

Cyber, Business Interruption, Natural Disasters Listed as Top 3 Business Risks: Allianz

Wildfire Risk Upends California’s Cannabis Heartland as Insurance Vanishes

Risk Strategies Acquires Ohio’s Cornerstone

Peril Based Risk Scoring Is a Growing Trend

New York Updates Financial Services Cybersecurity Regulation to Address AI Risks

Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown

King Risk Partners Acquires Kerr Agency in Connecticut

Unison Risk Advisors Adds Avondale as First to Join Its Non-Retail Division

More People Moving In Than Out of Counties With High Catastrophe Risk

Cyber Hits All-Time High Concern for Business Leaders, Says Travelers Risk Index

Best Agency to Work For – East Gold Winner: Mackoul Risk Solutions

Wildfire-Risk Models Are Struggling to Predict LA-Style Fires

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

King Risk Adds to SW Florida Presence with Bruce Hendry Agency

California at Risk of New Insurance Bailout Amid Fire Danger

Italy to Require Companies Buy Insurance for Climate Risks

Ryan Specialty to Acquire Nashville-Based Velocity Risk Underwriters MGU

Maryland Could Have Reduced Risk of Key Bridge Collapse: NTSB

People Moves: Liberty Mutual Names Orloff President, Global Risk Solutions N.A.

As E&S Market Growth Hits New Heights, Some Risk May Be There to Stay: AM Best

Resilience: Third-Party Risk Involved in 31% of Cyber Claims

Specialist Risk Group Acquires Ecclesia Group’s Assets in Netherlands and Belgium

Cyber Security and Risk Mitigation

Insurance Adjusters and Estimators—Do You Really Understand Construction Specifications? Learn From the Construction Specification Institute

People Moves: Augment Risk Tabs McElhiney to Lead New Captive Offering

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