Domestically, RB Jones has introduced an allied healthcare professional liability program, expanded capacity in its property and flood facilities, and rolled out new inland marine offerings covering builders risk, contractors property, and contractors equipment.
Author: Awais
Though people understand the importance and value of insurance, a policy is only something they think about when something goes wrong. According to a new survey from the Independent Insurance Agents & Brokers of America (the Big I), nine of 10 respondents said having insurance in important or somewhat important but just three in 10 review or shop for insurance each year. Many, said Big I, are reactive and wait until there are premium increases or major life changes to take at look at insurance policies. “In today’s insurance market, standing still can cost you,” said Charles Symington, Big I…
Sanlam Ltd. sounded the alarm about the impact of a protracted war in the Middle East, with Africa’s biggest insurer saying the conflict could have a “massive” impact on its performance. The escalating tensions will hurt earnings of the firm with operations in 27 nations “very directly” as investor flight hits global equity markets and as rising fuel prices trigger inflationary pressure, which will result in higher borrowing costs, Sanlam Chief Executive Officer Paul Hanratty said. “You impact consumers everywhere with higher prices and higher interest rates, which is going to reduce new business coming in,” he said. Besides jolting…
Iran will fight on and keep the Strait of Hormuz shut as leverage against the United States and Israel, new Supreme Leader Mojtaba Khamenei said on Thursday in defiant first comments attributed to him since he succeeded his slain father. Hours later, Israeli Prime Minister Benjamin Netanyahu used his first press conference since the start of the war to make his own strong statement, issuing a veiled threat to kill Khamenei and defending the military assault on Iran, which has claimed thousands of lives and shaken energy and stock markets. “I wouldn’t issue life insurance policies on any of the…
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it is offering expanded cyber cover in Canada. Coalition said its “Active Cyber Policy” expands protection for Canadian organizations facing faster-moving ransomware attacks, AI-enabled fraud, and growing regulatory scrutiny. It integrates Coalition’s most popular endorsements into the base form and introduces clear financial incentives for businesses that invest in proactive risk management. (Editor’s note: The Active Cyber Policy is not available in Quebec where Coalition’s existing policy form will be used.) “Canadian businesses need a cyber insurance policy that helps them feel confident about navigating the increasingly complex…
Deep Sankar Dasgupta with daughter Deepanwita Dasgupta, when she was 3 years old. Deepanwita was later diagnosed with subacute sclerosing panencephalitis, or SSPE, a rare but debilitating complication from a prior measles infection.(Anindita Dasgupta) The first sign came when Deepanwita Dasgupta was 5 and started stumbling more while playing at her home in Bangalore in southern India. The girl was always up to something, so her parents figured extra bumps and bruises were just symptoms of an active childhood. Maybe, they thought, it was ill-fitting shoes. Relatives described the unicorn-loving child as smart, affectionate, and occasionally rascally. Before she learned…
The U.S. Equal Employment Opportunity Commission (EEOC) filed an action in federal court to enforce a subpoena issued during its investigation into allegations against JamRock Solutions LLC. JamRock Solutions is an Amazon delivery service partner, and a charge received by the EEOC in April 2024 alleged violation of federal law by failing to accommodate an employee’s pregnancy-related limitations. The charge alleged that a former driver at JamRock’s distribution center in St. Rose, Louisiana sought an accommodation for a pregnancy-related lifting restriction and that JamRock claimed there was no accommodation to allow her to continue operating as a driver during her…
With the conflict in the Middle East continuing to drive uncertainty and financial market volatility, Hong Kong based specialist insurance-linked securities (ILS) investment firm ILS Advisers has highlighted how catastrophe bonds can present a “compelling fixed income refuge” for allocators.With the catastrophe bond market largely unaffected by major global shocks such as wars, given their focus in the main being on provision of risk capital to support reinsurance needs for natural peril events, they can prove a source of return through even the most volatile times. ILS Advisers explained, “Escalating Middle East tensions have again driven equity declines, oil price…
Key Takeaways In recent weeks, the Trump administration has renewed focus on lowering the cost of prescription drugs in the U.S., including the launch of TrumpRx. The latest polling from KFF shows that about four in 10 U.S. adults (41%) say it is likely the Trump administration’s policies will lower prescription drug costs for people like them, but views are largely influenced by partisanship. Only the president’s base remains positive, with 79% of Republicans and 88% of Make America Great Again (MAGA) supporters saying it is likely the administration will lower prescription drug costs, while much fewer independents (35%) and…
Canadian telecommunications provider Telus Corp. said it’s investigating a cybersecurity incident. The breach involves “unauthorized access to a limited number of our systems,” a spokesperson for Telus Digital said by email. “Upon discovery, we took immediate steps to address the unauthorized activity and secure our systems against further intrusion. We are actively managing the situation and continue to monitor it closely,” they added. Telus, one of Canada’s biggest three mobile and broadband companies, said it’s notifying affected customers. An amorphous extortion group called ShinyHunters contacted Bloomberg News this week claiming they were planning to release a large amount of data…
Perhaps most notably for insurers navigating the growing role of technology in their operations, the bill would require every insurer issuing or delivering a motor vehicle liability and collision insurance policy in New York to demonstrate that its marketing, underwriting, rating, claims handling, fraud investigations, and any algorithm or model used in those business practices do not disparately impact any group of customers based on race, color, national or ethnic origin, religion, sex, sexual orientation, disability, gender identity, or gender expression.
Rising hacktivist activity around the Middle East war could expose gaps in cyber war wording
The U.S. Commodity Futures Trading Commission on Thursday called for public comment ahead of a regulatory proposal it said would shape government oversight of the burgeoning market for events contracts and prediction markets. In a public notice, the agency drew attention to the need for protections against manipulation and the possibility of trading on margin as well as considerations for what kinds of contracts should be prohibited in the public interest, such as wagers on terrorism and military action. Though the CFTC has considered regulating prediction markets for nearly two decades, they have exploded in popularity since the 2024 U.S.…
A man was killed after ramming his vehicle into the front doors of a synagogue in suburban Detroit on Thursday afternoon, setting off an exchange of gunfire with security officers and a large police response, authorities said. Oakland County Sheriff Michael Bouchard said a vehicle drove into Temple Israel in West Bloomfield shortly after 12:30 p.m., breaching the entrance before security personnel engaged the suspect with gunfire. The Department of Homeland Security said in a statement that the attack was carried out by Ayman Mohamad Ghazali. Ghazali, 41, was born in Lebanon, entered the US in 2011 and was granted…