This trend was particularly notable in regions that did not experience recent losses, including parts of the US, Europe, and Asia-Pacific. Despite some rate decreases, pricing across global and US markets remains near historic highs, supported by stable contract terms and conditions.
Earlier this month, the company also announced the completion of its acquisition of the insurance business of Rusty Healy Insurance Agency. Based in Madison, Miss., Rusty Healy Insurance Agency provides a range of coverage options, including auto, home, business and life insurance.
Alliant Insurance Services has appointed Crystal Calvo (pictured above left) as a vice president within its Employee Benefits Group. Based in San Diego, Calvo will lead a team focused on professional employer organization (PEO) solutions, working with clients nationwide to enhance payroll, benefits administration, and risk management.
The insurer posted record underwriting and investment income despite market and catastrophe losses
According to the court, restitution in this case presents significant challenges, as several affected insurance carriers are undergoing liquidation. Additionally, many of Lindberg’s business holdings are not readily convertible into cash, further complicating efforts to recover and distribute assets.
Budd noted the ongoing debate over the latter. She said some companies might believe existing policies, like cyber, general liability, or errors and omissions (E&O) insurance, will provide sufficient protection. In reality, Budd said, these policies often lack the specificity to address AI’s unique challenges.
Parametric insurance provides predetermined payouts when specific triggers – such as extreme weather conditions, supply chain delays, or non-damage business interruption events – are met. Unlike traditional coverage, parametric policies do not require physical damage or claims adjusters to determine losses. Instead, claims are settled based on independently verified data.
“With the economic activity expected to remain robust and continue to post a 2%+ growth rate, the case for further monetary loosening in the coming months is increasingly less compelling,” Hepp said. “Nevertheless, there are sectors of the economy, such as the housing market and pockets of the income spectrum, that are challenged by high … Read more
AXIS reported net investment income of $196 million for the fourth quarter, up from $187 million a year earlier, primarily due to higher yields from fixed maturities, though this was partially offset by lower returns on alternative investments. The book yield for fixed maturities was 4.5% at year-end, compared to 4.2% at the end of … Read more