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

Red Flags on Insurance for Green Building Products

While “greener” buildings are important to reducing global carbon emissions, the buildings offer much more than that. Green buildings bring people together in natural common areas, foster positive impacts of plant life and natural light, deliver healthier environments and help …

People & Places

National Safety National announced that Tim O’Grady joined the company as vice president for underwriting in the company’s large casualty division, which is responsible for large deductible workers’ compensation, commercial auto and commercial general liability coverage distribution. O’Grady has nearly …

P/C Agency Mergers Rise 10% in First Half of 2021: OPTIS Partners

There were 339 announced property/casualty insurance agency mergers and acquisitions during the first half of 2021, up from 307 in 2020. According to OPTIS Partners’ M&A report, it was the highest recorded total for the first half of the year. …

Vehicles Going Green

A Cornell University-led research team has calculated that by the year 2050, vehicle electrification, driverless cars and ride sharing could prevent 5,500 premature deaths and save $58 billion annually, while simultaneously slashing U.S. petroleum consumption by 50% and carbon dioxide …

Insurers’ Own Infrastructure Could Be Next Targets of Cyber Criminals

As “the next digital pandemic,” cyber risks are increasingly becoming a problem for insurers themselves, according to an industry expert. With “a lack of controls at [an] insurer, [you] could have catastrophic damages to an entire portfolio,” said Jack Kudale, …

Insurance Journal, Carrier Management Staff Win Editorial Awards of Excellence

Wells Media Group publications, websites, webinars, research and podcasts have won a total of nine 2021 Azbee Awards of Excellence from the American Society of Business Publication Editors (ASBPE). “The team is proud to be recognized by our publishing peers,” …

Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re

Global cyber reinsurance rates have soared by up to 40% in the July renewal season, reinsurance broker Willis Re said this month, as ransomware attacks increase in number and severity. A ransomware attack on Colonial Pipeline in May shut the …

Declarations

Medical Board Complaints “I thought there would be a lot of integrity and thoroughness to the investigation process, and I didn’t get a sense that the medical board really looked at the matter.” — Alka Airy, who filed a complaint …

Cyber Risks No Longer Science-Fiction for Libraries

When the pandemic forced nearly all libraries in the U.S. to close for more than half of 2020, these long-time community institutions took the opportunity to adapt all or most of their programming to a digital format and grow their …

Business Moves

National Zywave, IBQ Comparative Rating Insurance technology provider Zywave has acquired Spokane, Wash.-based IBQ Systems, which offers personal and commercial lines comparative rating. The acquisition expands Zywave’s inventory of carriers and its existing cloud-based personal lines comparative rater, TurboRater, which …