The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. “Acute hazards, …
Goldman Sachs has poached Barclays’ insurance banker Marguerite Bion to win more business from Europe’s biggest insurers as industry consolidation heats up amid anemic profitability and tightening regulation. Bion, who started her career at Citigroup in 2001 and spent the …
UnipolSai, Italy’s second-largest insurer, confirmed its full-year targets on Friday after a 37.7% rise in nine-month earnings, despite an uncertain economic outlook caused by the resurgence of the COVID-19 pandemic. The company said its consolidated net profit for the first …
The North Carolina Rate Bureau has requested an average statewide rate increase of 24.5% on homeowners insurance rates in the state, according to a statement from the North Carolina Department of Insurance. The NCRB is not part of the NCDOI …
Boston-based Openly is now selling homeowners insurance in Ohio. Ohio homeowners and independent agents can now buy Openly’s premium insurance, obtaining quotes in 15 seconds, according to the company’s media release. The company said its entrance to the state provides …
Distinguished Programs, a national insurance program manager, has added Mike Schleich as regional sales executive covering the North Central Territory. This region includes Indiana, Michigan, Ohio, and Kentucky, as well the city of Chicago. Schleich, who is based in Cleveland, …
Hurricanes are keeping their staying power longer once they make landfall, spreading more inland destruction, according to a new study. Warmer ocean waters from climate change are likely making hurricanes lose power more slowly after landfall, because they act as …
A grains crushing plant of Chinese farm giant COFCO International partially resumed operations on Thursday, after halting them on Tuesday after an incident in which three contractor workers died, a spokesman told Reuters. Argentina is the world’s leading exporter of …
The COVID-19 pandemic is creating varying levels of disruption for writers in the U.S. professional liability insurance market, with many expecting a sizable increase in claims, according to a new AM Best report. With its Best’s Special Report, “Professional Liability …
Irish brewer Guinness said Wednesday that it is recalling cans of its recently launched non-alcoholic stout in Britain over contamination concerns. The recall, which the brewer described as “precautionary” and related to a “microbiological contamination,” impacts the British market as …
