Insurance & risk news from around the world
Lalo Ojeda has lived with hurricanes all his life. The Houston Chronicle reports he was 14 when Hurricane Carla inundated Galveston Island in 1961. He evacuated as Hurricane Rita barreled toward the coast in 2005, then rode out the devastating …
Read more here:: Claims Journal USA
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Read more here:: CIO.com
Chubb has appointed Kyle Bryant to the newly created role of regional cyber risk manager, Europe. Mr Bryant will be tasked with bringing together Chubb’s dedicated local cyber risk expertise across its European region into a single practice. This will ensure a consistent proposition for Chubb’s local broker partners and clients while delivering enhanced insight and support to them from…
Read more here:: Commercial Risk Online
Although a major hurricane hasn’t unleashed its full fury on Florida in more than a decade¸ property insurance rates are climbing statewide because of another kind of storm — claims abuse. Insurers continue to face major challenges due to abuse¸ shrinking their profits and driving up their rates. Those challenges are of heightened concern as another hurricane season approaches that’s expected to be busy¸ with the National Oceanic and Atmospheric Administration expecting five to nine hurricanes to form. The Atlantic season runs from June 1 to Nov. 30.
Read more here:: The Claims Page USA
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Digital transformation has been the talk of the town in IT for some years now. However, it is only recently that innovative technologies and concepts such as Big Data and Analytics, Cloud, Mobile and Social Business, Artificial Intelligence, and the “Internet of Things” are turning our hyperconnected world into a huge information system that makes data an asset itself.
As a result, a new, more organic vision of how companies work successfully has evolved: The “Live Business” seamlessly connects to ecosystems of things, people, and customers and can turn information into a competitive advantage. Consequently, companies need an enterprise architecture that is able to support this kind of highly connected and constantly evolving environment. IDC has identified the building of a future-proof digital platform as one of the key recipes for success in the digital economy. The “Enterprise Digital Platform” capabilities will be linked very closely to what IDC refers to as the “3rd Platform”, which integrates new technologies with the legacy environment of business-essential, ERP- applications.
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Read more here:: CIO.com
Firefighters were investigating a suspicious fire that destroyed three structures in the Agua Dulce area of Santa Clarita Monday morning. L.A. County fire crews were on the scene at 12620 W. Sierra Highway before 4 a.m. after witnesses reported hearing explosions around 3:30 a.m. coming from the garage on the property that houses a $1-million classic car collection. The blaze also spread to surrounding brush¸ but the flames’ forward progress was held at 3 acres by 6 a.m. and firefighters were monitoring embers to prevent hot spots from flaring up¸ according to L.A. County Fire Supervisor Robert Diaz.
Read more here:: The Claims Page USA
The two tech titans enter into an agreement to collaborate on technology, services, and threat intelligence.
Read more here:: Dark Reading
Hong Kong-listed China Evergrande Group, the world’s most-indebted property developer, has added $15 billion to its market value this year—its shares gained 68% in May alone. What gives?
Read more here:: Wall Street Journal
Company believes practice will address local needs relating to political risk, credit and bond insurance
Read more here:: Insurance Business Online
The trend in eurozone inflation will underline the ECB’s caution about exiting from its ultraloose monetary policy.
Read more here:: Wall Street Journal
In an effort to ignite its flagging commercial sector, Japan is looking to introduce legislation for the commercial use of delivery drones and driverless cars and other fintech features. The new rules will enable the use of drones for delivering consumer goods by 2020 and driverless vehicles for commercial use by 2022. In addition, Japanese lawmakers are also looking to…
Read more here:: Commercial Risk Online
Japan’s non-life insurers can expect to maintain a modest underwriting profit despite an expected cut in auto insurance premiums, according to ratings agency Fitch. Auto insurance has been a mainstay for many Japanese non-life insurers but a more prudent approach to underwriting is predicted on account of a number of likely headwinds, states Fitch in its latest report: Japan Non-life…
Read more here:: Commercial Risk Online
Company has had an office in the area since 2014, but it’s still waiting to start business
Read more here:: Insurance Business Online
Karina Rodriguez Diaz has been recruited by corporate insurer HDI Global to lead its crisis management practice in Australasia. Ms Rodriguez Diaz has worked in a number of positions during a 12-year career, specialising in crisis management. Prior to her latest role, she was placement manager for crisis management at Aon Australia. Before taking up the position at Aon, Ms…
Read more here:: Commercial Risk Online
Zurich North America has announced it is bringing its specialty products business together with its commercial insurance unit. The insurer said the consolidation will provide easier access to its products and services, and its global network. Paul Horgan, head of North America commercial insurance, will lead the newly expanded unit. He will report to Mike Foley, CEO of Zurich North…
Read more here:: Commercial Risk Online
Bryan Salvatore has been appointed executive vice-president and president of specialty at The Hanover Insurance Group, effective 12 June. In this role, Mr Salvatore will lead the company’s domestic specialty business, expanding its capabilities to help the company’s agent partners capitalise on the increasing opportunities in the specialty business, The Hanover said. Mr Salvatore joins The Hanover after 20 years…
Read more here:: Commercial Risk Online
After part of a commercial building or residence collapses, you have to determine the cause of the loss to determine the coverage.
Read more here:: Property Casualty 360
Fire damage claims averaged $45,482.
Read more here:: Property Casualty 360
California policyholders claim the insurer routinely underpays claims for damaged property by depreciating items not subject to such reductions under their policies or state law.
Read more here:: Property Casualty 360
Goldman Sachs Asset Management is being criticized for buying Venezuelan debt. Still, there are reasons why investors load up on such bonds
Read more here:: Wall Street Journal