Risk - Insurance Industry Brief

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 Insurance

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

China to Tighten EV Battery Rules to Reduce Fire and Explosion Risks

Insurance Journal

APRIL 16, 2025

China is tightening regulations on battery-powered vehicles and will require its automakers to comply with higher battery safety standards, aiming to reduce risks of fire and explosions in the fast-growing sector. The Ministry of Industry and Information Technology on Monday …

Risk

Risk Liability

United Risk Launches Multi-Line Reinsurance MGA, Names Cahill as CEO

Insurance Journal

APRIL 15, 2025

United Risk, a subsidiary of Applied Underwriters, announced it has formed a multi-line reinsurance managing general agent. Jay Cahill, previously United Risk’s chief financial officer, has been named chief executive officer of the new MGA. He will be succeeded as …

Risk

Risk Underwriter Underwriting Agents

Take the Hassle Out of Claims Management

Advertiser: Trellis

Adjusters can evaluate claim validity, estimate settlement amounts, and identify potential litigation risks. Trellis' extensive State Trial Court Data can be leveraged to identify opposing/outside counsel and top mediators for insurance matters, evaluate the risk of new claims by viewing similar claim litigation history, and more.

Claim

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

Rising Civil Unrest, Political Violence Remain Top 10 Risk for Global Businesses: Allianz

Insurance Journal

APRIL 10, 2025

Soaring levels of civil unrest and political violence are a key concern for businesses of all sizes as well as their insurers, according to report published by Allianz Commercial. The impact of civil unrest or strikes, riots and civil commotion …

Risk

Risk Commercial Insurance Insurer

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

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

Risk

Risk Insurance Insurer Insured

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 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

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 Insurance Insurer

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 Insurance Insurer

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 Insurer

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 Insurance

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 Insurer Insurance

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

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 Broker

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 Insurer Insurance Insured

Risk Digitization Top Tech Priority for US Insurers

Insurance Journal

APRIL 3, 2025

Risk digitization was cited as the primary technology priority for revenue growth in a recent study from insurtech Cytora. Cytora surveyed 200 senior leaders from global insurance firms and found that 76% of respondents saw risk digitization (encompassing new business, …

Risk

Risk Insurance Insurer Insured

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 Insurance

BIMCO adopts reviews of war risk clauses

Splash: Finance and Insurance

APRIL 9, 2025

The documentary committee of BIMCO has approved revisions to its war risk clauses for voyage and time charters to reflect changes in the geopolitical challenges facing the shipping industry.

Risk

Risk Premium Insurance Insurer

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., This strategic acquisition furthers King Risk Partners’ expansion across the Northeast. an independent insurance agency located in Simsbury, Connecticut. Kerr is King’s fifth agency in Connecticut.

Risk

Risk Insurance Broker Insurance Agency Broker

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 Insurance Insurer

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 Insurance Insurer Insured

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 Insurance

3 Emerging Risks to Watch: Social Inflation, Electric Trucks, Virtual Currencies

Insurance Journal

FEBRUARY 23, 2025

The business environment is constantly evolving, with each new development and innovation offering a unique variety of potential risks and rewards. Broad, systemic challenges may sometimes create unexpected obstacles, while technological transitions and advancements can often create as many hurdles …

Risk

Viewpoint: A Favorable Prognosis—Healthcare at the Forefront of Cyber Risk

Insurance Journal

APRIL 16, 2025

Healthcare organizations continue to find themselves at the forefront of cyber risk. Exposures such as IT supply chain dependencies, website tracking litigation, ransomware attacks, new security regulations, and data breach class actions put healthcare organizations of all sizes at high …

Cyber

Cyber Risk

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 Insurance

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 Insurer Insurance

Cyber Specialty MGA Envelop Risk Extends Capacity Backing From MS Reinsurance

Insurance Journal

DECEMBER 11, 2024

Envelop Risk, the data-driven cyber reinsurance and analytics specialist, announced it has just completed a capacity agreement with MS Reinsurance for a further three years. Further to that, MS Reinsurance recently became a client of Envelop’s new Solutions Business with …

Cyber

Cyber Risk Insurance Insurer

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 Insurance Insurer

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. Among natural disasters, wildfires are the great unknown. It’s a major problem for homeowners, insurers and investors, as …

Risk

Risk Insurance Insurer Insured

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

US Chicken, Pork Plant Workers Face Higher Health Risks, USDA Studies Confirm

Insurance Journal

JANUARY 13, 2025

chicken and pork plants face higher risks than other manufacturing workers for musculoskeletal disorders such as carpal tunnel syndrome, according to two studies the U.S. Workers in U.S. Department of Agriculture issued on Friday. The findings highlight health concerns for …

Risk

Risk Workers Compensation Compensation

Moody’s Says LA Fire May Pose Risk to Southern California Edison

Insurance Journal

JANUARY 16, 2025

The Eaton Fire in central Los Angeles County poses a potential credit risk to power provider Southern California Edison, which operates electrical lines in the area where the destructive blaze first started, Moody’s Ratings said in a report on Thursday.

Risk

Risk Liability Insurance Insurer

King Risk Adds to SW Florida Presence with Bruce Hendry Agency

Insurance Journal

JANUARY 16, 2025

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

Risk

Risk Insurance Agency Insurance Insurer

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 Insurer Insurance

German Watchdog Raises Focus on Physical Risks Stemming From Climate Change

Insurance Journal

JANUARY 28, 2025

German watchdog BaFin said the country’s financial industry needs a better grasp of physical risks stemming from climate change because of the increasing impact of events such as floods and droughts. Banks often don’t have data on where their clients …

Risk

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

Los Angeles Faces Another Day of Extreme Fire Risk as Winds Rise

Insurance Journal

JANUARY 14, 2025

Hot, dry winds are pummeling Los Angeles and surrounding areas of Southern California, raising wildfire risks through at least Wednesday as the region reels from blazes that have killed at least 24 people and burned neighborhoods to the ground. Tropical-storm-strength …

Risk

Risk Damage Insurance Insurer

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 Insurer Insurance

Novatae Risk Buys Up Ajax Specialty Insurance in Atlanta

Insurance Journal

APRIL 11, 2025

Dallas-based Novatae Risk Management, part of World Insurance Associates, has purchased Ajax Specialty Insurance, a wholesaler based in Atlanta. Andy Bierbaum is the owner of Ajax. He founded the company in 2012 and in 2018 brought in co-owner and partner …

Risk

Risk Insurance Insurer Insured

Oregon’s New Rules for Homeowners Living in Certain High-Risk Wildfire Areas

Insurance Journal

JANUARY 8, 2025

Oregon homeowners living in certain areas at high risk of wildfire will face stricter building codes and mandates to reduce vegetation on their properties under new “wildfire hazard maps” unveiled Tuesday. The release of the maps follows a record-breaking wildfire …

Risk

Risk Building Insurance Insurer

Ryan Specialty Completes Buy of Velocity Risk Underwriters

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

Trending Sources

China to Tighten EV Battery Rules to Reduce Fire and Explosion Risks

United Risk Launches Multi-Line Reinsurance MGA, Names Cahill as CEO

Take the Hassle Out of Claims Management

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

Rising Civil Unrest, Political Violence Remain Top 10 Risk for Global Businesses: Allianz

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

Peril Based Risk Scoring Is a Growing Trend

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

Western States Top Wildfire Risk Scores in New Analysis

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

Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers

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

Risk Strategies Acquires Ohio’s Cornerstone

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

King Risk Partners Acquires Connecticut’s Suzio Insurance

New York Updates Financial Services Cybersecurity Regulation to Address AI Risks

Risk Digitization Top Tech Priority for US Insurers

Cyber Insurance Market to Expand as Risks Evolve: Gallagher

BIMCO adopts reviews of war risk clauses

King Risk Partners Acquires Kerr Agency in Connecticut

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

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

Howden Said in Talks to Buy Insurance Broker Risk Strategies

3 Emerging Risks to Watch: Social Inflation, Electric Trucks, Virtual Currencies

Viewpoint: A Favorable Prognosis—Healthcare at the Forefront of Cyber Risk

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

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

Cyber Specialty MGA Envelop Risk Extends Capacity Backing From MS Reinsurance

Peril Based Risk Scoring Is a Growing Trend

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

Ryan Specialty to Acquire Nashville-Based Velocity Risk Underwriters MGU

US Chicken, Pork Plant Workers Face Higher Health Risks, USDA Studies Confirm

Moody’s Says LA Fire May Pose Risk to Southern California Edison

King Risk Adds to SW Florida Presence with Bruce Hendry Agency

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

German Watchdog Raises Focus on Physical Risks Stemming From Climate Change

Maryland Could Have Reduced Risk of Key Bridge Collapse: NTSB

Los Angeles Faces Another Day of Extreme Fire Risk as Winds Rise

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

Novatae Risk Buys Up Ajax Specialty Insurance in Atlanta

Oregon’s New Rules for Homeowners Living in Certain High-Risk Wildfire Areas

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