Resilience launched a private equity cyber risk program that the San Francisco-based company said will help private equity firms manage cyber exposure across their portfolios. The program connects Arc, Resilience’s cyber risk management platform for complex organizations, with bespoke insurance endorsements through carrier partners to address coverage gaps across the investment lifecycle. Private equity firms operate in a risk environment in which security leaders are responsible numerous portfolio companies with distinct systems, controls and reporting structures. The new program is built to address insurance coverage at each stage of the deal lifecycle: at acquisition; during the hold period; at exit.…
Author: Awais
While the global natural catastrophe insurance protection gap is estimated to have risen to US $424 billion in 2025, new research from Swiss Re’s Institute suggests that insurance coverage is growing at a rate broadly in line with the increasing catastrophe exposure.Swiss Re said that both insurance and adaptation efforts are critical to narrowing the global natural catastrophe protection gap and importantly the reinsurance company highlights that adaptation projects have a median projected benefit-cost ratio (BCR) of 1.86, a benefit of almost twice every US dollar invested. Economic growth and the increasing value of assets exposed to natural catastrophe risks…
King Risk Partners has acquired The Roberts Agency, Inc., an independent insurance agency specializing in the construction industry that is based in Bloomfield, Connecticut. This partnership strengthens King Risk Partners’ presence in Connecticut while expanding its construction insurance and surety bonding capabilities throughout the region. The Roberts Agency has been in business for more than 60 years, serving home builders, trade contractors, general contractors, and construction-related businesses with coverages and surety bonds. The agency’s service area extends beyond Connecticut to include Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont. The agency also offers commercial insurance, special coverage,…
Buckner is opening its eighth office location, this one in St. George, Utah. Jameson Carr will help lead Buckner’s expansion efforts in Southern Utah. Salt Lake City-based Buckner is a regional brokerage with more than $50 million in reported annual revenue and offices throughout Utah, Idaho and Colorado. The firm provides insurance, employee benefits, bonds and risk management services to businesses and individuals throughout the western U.S. Was this article valuable? Yes No Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter
The Oklahoma Workers’ Compensation Commission is alerting residents of a scam targeting injured workers. Scammers have contacted injured workers by phone, text message, or social media by claiming to be a workers’ compensation attorney, according to the commission. The scammer tells the worker they have won a case and are entitled to a large settlement but must send a payment upfront (often called a tax or case fee) before any money be collected. The OWCC said some workers are sent a link to what purports be an official virtual court hearing. This fraudulent hearing may even include a false judge…
About a year ago at Erlanger Baroness, the largest hospital in Chattanooga, anesthesia staff noticed that a nurse was slurring his words and struggling to stay awake while on duty in the surgery center, according to a Tennessee Board of Nursing consent order. In the days that followed, the nurse failed a drug test and was fired, the order states. The nurse later admitted that for months he had pilfered and abused fentanyl left over after surgeries, sometimes daily, according to the order. Under most circumstances, this would be a routine case of what is known as “drug diversion,” the…
The Texas Department of Public Safety on Monday lifted a restriction on commercial drivers licenses and permits for immigrants with temporary agriculture work visas and removed the Spanish language option for CDL tests following changes in federal requirements. In September, Texas halted commercial drivers licenses for many immigrants, including refugees, people with asylum and DACA recipients. The change on Monday will allow those with H-2A visas, designed for temporary agriculture workers, to again hold valid CDLs in Texas. Those eligible who have current CDLs may continue to use them until their expiration date, and those with expired licenses can file…
The California Earthquake Authority (CEA) has now successfully priced and secured its upsized target of $425 million of fully-collateralized earthquake reinsurance protection from its new Sutter Re Ltd. (Series 2026-1) catastrophe bond sponsorship, Artemis understands.The California Earthquake Authority (CEA) came back to the cat bond market in early May with an initial target to secure $300 million of fully-collateralized earthquake reinsurance from the capital markets with this new Sutter Re Series 2026-1 catastrophe bond. In a first update on this deal we reported that the CEA aimed to upsize this Sutter Re 2026-1 cat bond issuance with the target size…
More than 97,000 Connecticut residents will receive letters in the mail starting this week informing them that some or all of their medical debt has been erased. Governor Ned Lamont’s administration launched the program in partnership with the national nonprofit organization Undue Medical Debt to give relief to qualifying residents who are having difficulties paying outstanding medical bills. This fourth round of the initiative is eliminating nearly $315 million in medical debt. In total, more than 252,000 Connecticut residents have had more than $513 million in medical debt cancelled since the initiative began in 2024. Under the initiative, Undue Medical…
A month after President Donald Trump announced — and then abandoned — a plan to escort commercial ships through the Strait of Hormuz, the US military is trying less public ways of protecting vessels in the vital waterway. Rather than announcing an open challenge against Iran, the US is quietly coordinating with shippers willing to take a different approach. Evidence gleaned from US Central Command statements, shipping data and people with knowledge of the transits suggest ships are turning off transponders and sticking close to the Omani coast on the strait’s south to avoid Iranian mines, with the US military…
The value of uninsured natural-catastrophe losses rose more than 7% globally last year to $424 billion, with North America the most exposed region, according to a fresh analysis. While insurance coverage has broadly kept pace with rising catastrophe exposure, the protection gap — in absolute terms — has gone up as the value of exposed assets has grown, the Swiss Re Institute said on Wednesday. The cost of natural catastrophes such as hurricanes and wildfires has continued to rise in recent years, as a combination of climate change, urbanization and inflation mean disasters are getting more costly when they hit.…
Brokerage Acrisure has filed a federal lawsuit, accusing a former employee of using employees and intellectual property to peal away at least 50 clients to a company he started—named after one Acrisure acquired in 2016. The Grand Rapids, Michigan-based global broker said in a lawsuit filed in U.S. District Court for the Western District of Michigan that Adam DeVone is “actively infringing upon” Acrisure trademarks and is “breaching voluntarily assumed contractual obligations to Acrisure.” In October 2016, Acrisure bought Benefits Exchange Alliance Inc. from founder and chairman DeVone and other owners. The acquisition included all trademark rights and brandings, including…
The Fortegra Group said its acquisition by South Korea’s DB Insurance Co. has been completed. Jacksonville, Florida-based Fortegra will operate independently and keep its existing leadership team as well as distribution relationships. “Agents, distribution partners, and customers will continue to experience the service excellence that has defined the Fortegra experience,” the specialty insurer said in a statement. Fortegra scrapped its planned initial public offering last year, citing market conditions. The $1.65 billion acquisition by DB Insurance is the biggest US acquisition by a non-life insurer from the country. “Every company eventually changes ownership. That is the nature of business. The…
A proposed settlement between Elon Musk and the Securities and Exchange Commission to end the agency’s Twitter Inc. stake lawsuit came after almost a year of negotiations, attorneys for the agency said Monday after a judge raised concerns about the deal. “The $1.5 million civil penalty aligns with the seven-figure penalty that the SEC’s counsel of record insisted upon since negotiations began in earnest and it reflects a concession by defendants, who advocated in settlement discussions for a much smaller penalty,” SEC attorneys wrote in a court filing. They added it also accounts for the “litigation risk and significant public…