Monthly Archives: <span>March 2021</span>

Insurance Industry Stepping Up as Cyber Risks Mount for High-Net-Worth

Cyber attacks can strike any individual or business at any time, but on this episode of the Insuring Cyber Podcast, Insurance Journal’s Elizabeth Blosfield spoke with two guests about one particular segment of the population that can prove to be …

Lloyd’s Expects Large Loss from Suez Canal Blockage

The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion) pretax loss in 2020 …

Formal Investigations Begin into How Container Ship Ran Around in Suez Canal

ISMAILIA, Egypt โ€“ Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, begin on Wednesday, a canal official told Reuters. The …

Severe Thunderstorms Roar Through New Jersey; Thousands Lose Power

Severe thunderstorms that roared through New Jersey left thousands without power and brought down dozens of trees that damaged homes and businesses, but no injuries were reported. The storms hit the state shortly after dusk on Sunday and continued for …

Vermont State Agency Offers to Assist Residents After Rare Tornado

State officials in Vermont say they’re ready to assist residents with insurance claims as they cleanup and rebuild following Friday’s tornado, which injured at least two people. The state Department of Financial Regulation said Saturday that residents who experienced property …

Brown Thayer Shedd Insurance Agency Rebrands as Cross Private Client Insurance

Brown Thayer Shedd Insurance Agency (BTS Insurance Agency), a Darien, Connecticut-based division of Cross Insurance, has rebranded as Cross Private Client Insurance (CPCI). Cross Insurance is a subsidiary of Cross Financial Corp and an independent insurance provider in New England …

Houston Company to Pay $50.9K to Settle Federal Age Discrimination Suit

A Houston-based engineering and construction company will pay a former employee $50,960 to resolve an age discrimination lawsuit, federal officials say. The lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), alleges Burrow Global Services LLC fired an employee …

City of London Financial Center Likely to See Most Workers Return After Pandemic

LONDON โ€“ The City of London financial center, which has resembled a ghost town since the coronavirus swept the world last year, is likely to see most workers return to their offices after the pandemic, the City’s political leader said …

Gen Xers Pass Boomers in Wealth; Inequality on Basis of Race Persists

Crammed between the cultural extremes of the baby boomers and the millennials, members of Generation X saw their wealth jump during the Trump administration and through the coronavirus pandemic as they hit their prime earning years during a record bull …

2020’s P/C Insurance Industry Results and What They Mean for 2021

The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better combined ratios and higher income than in 2019. A …