H.W. Kaufman names co-presidents
H.W. Kaufman Group on Wednesday named Danny Kaufman and Jodie Kaufman Davis co-presidents of the company.
Obenauer named next CEO of TIH
TIH Insurance Holdings LLC said Wednesday that President Dave Obenauer will become CEO, effective Jan. 1, succeeding John Howard, who will transition to vice chair.
Broker M&A deals down 10% through Q3: Optis
There were 535 announced broker mergers and acquisitions through the first three quarters of 2024 among American and Canadian buyers, down 10% from 594 in the same period in 2023, according to a report released Wednesday by Otis Partners LLC.
Employer not responsible for injured worker’s commute
An employer of an injured worker who was put on driving restrictions is not responsible for her inability to drive to and from her light-duty return-to-work assignment, the Tennessee Workers’ Compensation Appeals Board ruled Monday.
Appeals court reverses Sompo unit’s win in fire coverage fight
A Michigan Court of Appeals panel Tuesday overturned a Sompo PLC unit’s $1.2 million win in a suit seeking reimbursement for what it paid to a landlord for a fire-damaged industrial building, finding the lease did not expressly require the tenant to obtain fire insurance.
Munich Re posts strong preliminary results despite major losses
Germany-based Munich Reinsurance Co. has reported a preliminary net result of around €900 million ($973 million) for the third quarter of this year, despite significant losses from natural catastrophes like Hurricane Helene and Storm Boris, Reinsurance News reported. The reinsurer’s operational performance remained strong across all lines of business, contributing to a net result of […]
Allianz considering exit from Bajaj Insurance joint ventures
India-based Bajaj Finserv Ltd. said on Oct. 22 that Allianz SE is considering exiting their general and life insurance joint ventures, potentially ending a decades-old partnership, Reuters reported. Allianz’ decision is driven by strategic priorities and early-stage talks are underway, with disputes over stake increases and strategic decisions cited as reasons.
NN Group seeks over $81 million from latest cat bond issue
Dutch insurer NN Group N.V. is seeking €75 million ($81 million) or more in collateralized reinsurance to cover European perils with the issuance of Orange Capital Re DAC (Series 2024-1) catastrophe bond, Artemis reported. The cat bond will provide the insurer with reinsurance protection against windstorm and severe thunderstorm risks in Belgium and the Netherlands. […]
Gjensidige Forsikring’s insurance revenue up nearly 12%
Norway-based insurer Gjensidige Forsikring ASA has reported a nearly 12% year-on-year increase in revenues to over 10 billion Norwegian kroner ($914.8 million) in the third quarter of this year, MarketScreener reported. The firm reported profit after tax of NOK1.67 billion for the reported period.
Tech firms risk large fines under Ireland’s new safety regulations
Ireland’s media regulator, Coimisiun na Mean, has mandated that social media firms, including YouTube, TikTok, Facebook, Instagram, and X, must comply with a new online safety code or face fines of up to 10% of turnover or €20 million ($21.6 million), whichever is the greater, The Independent reported. The code mandates these platforms to protect […]
Extreme weather ravages parts of Italy and France
Severe weather has ravaged parts of Italy and central France, with red and orange alerts in place in various parts, Euronews reported. In Italy, Emilia Romagna has been hardest hit, with heavy rains causing floods, evacuations, and one fatality, while Sicily and Tuscany also face significant flooding. In France, central regions like Limony en Ardeche […]
Marine insurance premiums grow by nearly 6%
The International Union of Marine Insurance has reported a nearly 6% year-on-year increase in global marine insurance premiums, reaching $38.9 billion in 2023, driven by rising global trade, vessel values, and offshore energy activity, gCaptain reported. Ocean hull premiums grew by nearly 8% year-on-year to $9.2 billion, while cargo insurance premiums rose by over 6% […]
European windstorm losses lowered by nearly 8%
Swiss catastrophe data provider Perils AG has revised the insurance industry loss figure from October 2023’s European windstorms Babet and Aline by nearly 8% to €639 million ($691 million), Artemis reported. The storms caused significant flooding and damage across the British Isles and northwestern Europe, with the U.K. experiencing the highest losses, primarily from floods.
Strike disrupts flights at Brussels South Charleroi Airport
Ongoing strike action at Brussels South Charleroi Airport in Belgium has led to the cancellation of all departures today, leaving hundreds of UK passengers stranded and affecting around 16,000 travelers, Bristol Live reported. U.K. Ireland-based Ryanair Holdings PLC, a major operator at the airport, is offering refunds and rerouting options to affected passengers, while arrivals […]
Oscar Health expands to 18 states, launches Spanish-first plan
Oscar Health is set to expand its offerings in 2025, introducing new individual plans across 504 markets in 18 states, including new entries in Texas, Oklahoma, and New Jersey, Becker’s Payer Issues reports. Notably, the insurer will launch “Buena Salud,” a Spanish-first plan tailored for its significant Hispanic and Latino membership, and a multi-condition plan […]
Blue Shield partners with Salesforce to automate prior authorization process
Blue Shield of California and Salesforce have partnered to streamline the prior authorization process, reducing it from days to seconds using a tool built on Salesforce Health Cloud, reports Healthcare Dive. This tool automates data retrieval from electronic health records, facilitating real-time authorization decisions. Despite the automation, Blue Shield emphasizes human oversight to prevent improper […]
Point32Health dispute may force 20,000 patients to switch docs
Thousands of patients at Boston Children’s Hospital, UMass Memorial, and Tenet hospitals may need new doctors after the hospitals failed to reach an agreement with Point32Health, Massachusetts’ second-largest health insurer, CBS News reports. This primarily affects over 20,000 patients on Tufts Health Direct, a subsidized program. While negotiations with Tenet Healthcare continue, Boston Children’s Hospital […]
Americans oppose certain health insurance underwriting practices: RAND
A RAND study reveals that many Americans find certain health insurance underwriting practices unfair, with fewer than 30% supporting linking premiums to factors like gender, age, or race, BenefitsPro reports. However, over 60% agree with higher rates for heavy drinkers, smokers, or drug users, while opinions on obesity are divided. These findings highlight public resistance […]
CDC: Women visit health centers nearly twice as often as men
A report by the Centers for Disease Control and Prevention reveals that women visited community health centers nearly twice as often as men in 2022, highlighting women’s proactive approach to health, Axios reports. Despite this, women often live longer but in poorer health compared to men.
62% of retirees exited workforce earlier than planned: Study
A new report by John Hancock Retirement reveals that 62% of U.S. retirees left the workforce earlier than planned, impacting their financial stability due to a longer retirement period, 401K Specialist reports. The study highlights the importance of financial resilience during working years to better prepare for retirement, especially given increasing life expectancies.