Insurers press California on rate adequacy
Author: Awais
AXA XL has added new coverages to its pollution and remediation liability insurance for lenders, further protecting them from losses in the event of a loan default. The Protective Environmental Asset Coverage Enhancement (PEACE) endorsement, which can be added to AXA XL’s flagship Pollution and Remediation Legal Liability (PARLL) policy, is specifically designed to provide lenders with an added layer of protection against security risks arising from pollution conditions at a covered location. It pays for a mortgage impairment loss as a result of a pollution condition on, at, under or migrating from a covered location provided that a loan…
Annual volume hits $90.3 billion across stamping office states
Trucordia Appoints Nelson as VP of Public Relations Jason Nelson Trucordia hired Jason Nelson as vice president of public relations, a new role focused on the firm’s PR strategy, media presence, community engagement and brand. Nelson has more than two decades of experience across broadcasting, advertising and publishing. He began his career at the Provo Daily Herald, then moved to KSL—working across KSL Newsradio, KSL TV, and KSL.com. Nelson became a partner in a publishing group and the advertising agency Swell Media, where he worked with Trucordia on several initiatives. Trucordia is headquartered in Lindon, Utah. Hub International Hires Ackerman…
MSP Recovery, a now-famous Miami litigation firm, has won some and lost some in federal and state appeals courts in a decade-long enterprise that has earned it millions of dollars in fees for, essentially, moving funds from auto insurers to Medicare insurance companies. This week, MSP Recovery lost a significant one when Florida’s 3rd District Court of Appeals nixed the class of plaintiffs in a proposed class-action lawsuit against USAA Casualty Insurance Co. “…We reverse the order granting class certification due to MSP’s putative class failing to satisfy the predominance requirement” set by Florida’s rules of civil court procedure, the…
Most carriers today generate leads from a mix of sources: agent driven activity, direct-to-consumer campaigns, affinity partnerships, and embedded insurance programs. Yet as acquisition costs rise and distribution ecosystems grow more complex, an insurance carrier’s competitive advantage is increasingly defined not only by how they access profitable leads, but also by how effectively they convert them. Success depends on managing a lead from first touch through bind with consistency, accuracy, and speed, regardless of its source. As such, seamless, secure lead sharing has quietly become a critical differentiator. Carriers that can intelligently progress leads through their distribution network will inevitably…
Heading into this midterm election year, the cost of health care tops the public’s economic anxieties and more than 4 in 10 voters say the issue will have a major impact on their vote, a new KFF Health Tracking poll finds. Voters, including independents, currently trust Democrats more than Republicans to address the cost of health care and most other health care issues, though neither party has an advantage on addressing the overall cost of living, the poll finds. The poll provides an early look at how the public and voters view health care issues, including costs, following a year…
Integral ILS Ltd., the specialist insurance-linked securities investment manager, has successfully upsized its debut catastrophe bond sponsorship by nearly 38%, to secure $275 million of US named storm retrocession from the Windrose Re Ltd. (Series 2026-1) deal that has now been priced, Artemis can report.It’s a highly successful first visit to the cat bond market for the independent alternative investment manager that focuses on natural catastrophe insurance and reinsurance investments, as Integral ILS both upsized the Windrose Re issuance and secured the retrocessional protection at price levels within and below the initial guidance. Integral ILS becomes the latest specialist insurance-linked…
China is mulling the sale of hundreds of billions of yuan in special government bonds to recapitalize some of its largest insurers, according to people familiar with the matter, strengthening the biggest players in a sector that is under pressure to consolidate. The sale would raise about 200 billion yuan ($29 billion) to help recapitalize the insurers, said one of the people, declining to be identified as the matter is private. The proceeds will be injected into state-controlled firms including China Life Insurance Group Co., the People’s Insurance Co. Group of China Ltd., and China Taiping Insurance Group Co., the…
The UK warned some patients have died of severe inflammation of the pancreas linked to obesity and diabetes drugs such as Eli Lilly & Co.’s Mounjaro and Novo Nordisk A/S’s Wegovy. Though the worst cases of pancreatitis were rare, the UK Medicines and Healthcare products Regulatory Agency said Thursday doctors and patients should know some incidents had been particularly severe, as it strengthened its warning over taking the drugs. The guidance applies to medicines that mimic the GLP-1 gut hormone, like Wegovy, as well as drugs that imitate a second hormone called GIP. Mounjaro falls in this category. Both already…
An estimated 300 people have died in extreme flooding across parts of southern Africa, including a one-in-50-year event that researchers said was worsened by climate change. Nearly 800,000 people have been affected by the severe rains that started in December, the United Nations Office for the Coordination of Humanitarian Affairs said in an update Thursday. In Mozambique, the worst-hit country, rebuilding destroyed infrastructure will cost about $644 million, according to preliminary estimates from the authorities. That will further strain government finances that were already tight, and hit an economy struggling to emerge from a recession. At least 820,000 people have…
Money launderers received at least $82 billion in cryptocurrencies last year, up sharply from $10 billion in 2020, driven in part by fast growth among Chinese-speaking groups, blockchain researchers said on Tuesday. The fastest-growing category has been Chinese-language money-laundering networks, which emerged during the pandemic and processed almost $40 million worth of crypto per day in 2025, U.S.-based blockchain research company Chainalysis said in a report. Blockchains create a record of the wallet addresses involved in cryptocurrency transactions, but identifying who is behind the wallets is difficult. However, Chainalysis said it had identified nearly 1,800 active wallets used by Chinese-language…
They include a new vice president of AI product solutions and a new vice president of public relations
Listen to the article 5 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Almost 23 million Americans signed up for health insurance coverage on the Affordable Care Act exchanges this year, the CMS said on Wednesday. That’s down 5% from last year’s record high, but not the nosedive some market watchers predicted given steep premium increases for ACA plans. Some 3.4 million people are new to the marketplaces, while 19.6 million already had ACA coverage and re-enrolled. Enrollment trends differ across the country. Much of the volume was driven by Texas alone, where…