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Maryland’s highest court heard arguments on an appeal Monday that will affect 1,300 lawsuits filed under the Child Victims Act. The 2023 law effectively eliminated time barriers for someone to file a court claim of institutional sex abuse. At issue are the roughly 1,300 cases in which the alleged sexual assaults took place before 1982, …
Bermuda-based reinsurer cuts property and specialty volumes, but casualty book grows on ‘select’ growth opportunities Source link
Liberty Mutual Investments, the investment firm for Liberty Mutual Group, said it has provided debt financing to Synergy Pet Group to support the company’s continued pet services and technology expansion. Synergy Pet Group, based in Lakewood, New Jersey, is backed by LoneTree Capital, which made a growth investment in the company in 2023. LMI also …
SMART follow syndicate Ki is not planning to use artificial intelligence in its underwriting algorithms, its active underwriter has said. Speaking to the Insurance Day podcast, Helen Rios, said the business was looking at different ways it could implement AI into its processes. But Rios said AI would not be used to determine risk appetite …
The number of measles cases in Pennsylvania reached 1,505 as of Monday, up 18 from the previous update on Friday, as the state battles its worst outbreak of the disease in years. Here are more details: Pennsylvania reported 73 new cases over the past seven days, according to the state health department’s dashboard Measles-related hospitalizations …
Risk of overcorrection if market responds too soon to AI risk, Tokio Marine Holdings’ head of cyber warns Source link
Honeycomb Insurance announced the expansion of its Lessor’s Risk Only (LRO) coverage into Texas, Pennsylvania, and New Jersey, continuing its growth across key U.S. markets. The expansion comes just months after Honeycomb’s initial introduction of its LRO offering, bringing the product to nine states and further broadening its nationwide presence. Honeycomb’s LRO coverage is designed …
Managing general agent adds specialised aquaculture underwriting business to European platform Source link
Insurance agents in north Georgia are reporting widespread damage after record flooding hit the area Thursday, Nov. 5. “It’s devastating. I have cried and prayed and cried and prayed,” said an agent who answered the phone at Appalachian Insurance Services in Blue Ridge, Georgia, near the Tennessee line. Some property owners carried flood insurance but …
Michael Walls succeeds Baker as global head of marine, cargo and logistics at the broker Source link
AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a” (Excellent) from “a-” (Excellent) of Illinois Casualty Company (ICC) and Lebanon Valley Insurance Company (LV). The outlook of the Credit Ratings (ratings) has been revised to stable from positive. ICC …