Reinsurance News
claims
Coalition highlights 68% surge in ransomware claims severity
21st November 2024
Coalition, an active insurance provider aimed at preventing digital risks before they occur, has released its 2024 Cyber Claims Report: Mid-Year Update, which highlights new trends in cyber threats and their effects on Coalition policyholders in the first half of 2024. One key finding from the report was a 68% increase ... Read the full article
54,000 NFIP flood insurance claims filed for Hurricane Helene: FEMA
28th October 2024
So far, policyholders of the National Flood Insurance Program (NFIP) have filed more than 54,000 claims following Hurricane Helene, the U.S. Federal Emergency Management Agency (FEMA) has reported. Helene was the sixth named storm of the 2024 Atlantic hurricane season and the fourth to make landfall in the U.S. It struck ... Read the full article
CLARA Analytics targets insurance claims optimisation
16th August 2024
CLARA Analytics, a provider of artificial intelligence (AI) technology for insurers, has announced the launch of Claims Document Intelligence Pro, a new product designed to revolutionise insurance claims optimisation. The introduction of Claims DocIntel Pro (formerly CLARA Optics), represents ground-breaking advancements with its deeper contextual analysis of legal demands and medical ... Read the full article
New Zealand insurance industry set to go through transformation period following NHI Act implementation
31st July 2024
New Zealand insurance carriers need to update their claims handling processes and ensure their staff are trained accordingly in order to adapt to the changes brought by the implementation of the Natural Hazards Insurance Act 2023 (NHI Act). Gallagher Bassett has prioritised training and upskilling its staff to ensure they are ... Read the full article
Ramirez becomes McLarens Latin America MD with Garzon as the region SVP Group Operations
18th July 2024
Global claims services provider McLarens has announced the appointment of Felipe Ramirez as Managing Director of the McLarens Latin America, and Leo Garzon as Senior Vice President, Group Operation, Latin America, a new global role. In his new role as MD, Ramirez will be responsible for the strategy, direction, and overall ... Read the full article
Davies secures £1.5 billion refinancing to support growth initiatives
5th July 2024
Davies, a provider of specialised professional services and technology solutions for insurance and highly regulated markets, has announced a successful £1.5 billion refinancing of its senior debt facilities. This move significantly lowers its interest expenses, extends debt maturity dates, and secures additional credit lines to support its future growth initiatives. The agreement ... Read the full article
DWF strengthens insurance claims management & adjusting team with senior hires
5th July 2024
DWF, a provider of combined legal and business services, has enhanced its global Claims Management & Adjusting (CMA) division by appointing Darren Goldman as Head of North America and Antonio Herrera Sancho as Claims Director in Spain. Goldman said: "I am excited to lead the talented CMA team as the regional ... Read the full article
One80 introduces GeneBridge reinsurance product for gene therapy
2nd July 2024
One80 Intermediaries (One80), an insurance broker based in Boston, announced the launch of GeneBridge, an innovative product designed to reduce the financial burden of high-cost gene therapy claims. Matthew Power, President, One80, commented: “With the number of gene and cell therapies expected to double over the next two years, we saw ... Read the full article
DWF boosts Australian presence with Proclaim acquisition
28th June 2024
DWF, a provider of integrated legal and business services, has announced its acquisition agreement with Proclaim, a claims management business in Australia, aiming to enhance its presence in the country. Group CEO, Sir Nigel Knowles, commented: "This acquisition will mark a significant step forward in our growth strategy, reinforcing our commitment ... Read the full article
ICEYE nat cat data being integrated into Guidewire
20th June 2024
Guidewire, a provider of software solutions to the insurance industry, and ICEYE, of satellite-powered disaster management solutions provider, have launched ICEYE's new Ready for Guidewire validated accelerator on the Guidewire Marketplace, now accessible to ClaimCenter users on Guidewire Cloud. ICEYE, a recent graduate of the Insurtech Vanguards programme and winner of ... Read the full article
DARAG and UnipolSai form service partnership
17th June 2024
DARAG Group, a (re)insurance specialist in discontinued business and capital and operational relief, has entered into a service agreement with UnipolSai Assicurazioni S.p.A. (Unipol), an Italian insurer within the Unipol Group. Unipol is a major player in non-life insurance and motor vehicle third-party liability (TPL) in Italy. Under this agreement, DARAG Deutschland ... Read the full article
Insurance industry adapts to new challenges, experts reveal at S&P conference
14th June 2024
At S&P Global Ratings' 40th Annual North American Insurance Conference, industry experts discussed current trends and challenges, agreeing that while the insurance landscape has evolved over the past four decades, the industry has successfully adapted. Elizabeth Heck, Chairman, President, and CEO of Greater NY Mutual, emphasised that the adaptability comes from ... Read the full article
Insurance premiums and policies rise in China in Q1 2024
10th June 2024
The China National Financial Regulatory Administration (CNFRA), responsible for overseeing the stability and compliance of China's financial sector, has released its supervisory statistics for the first quarter of 2024, highlighting significant increases in insurance premiums and the number of new policies. By the end of the first quarter of 2024, insurance ... Read the full article
IUA forms committee to oversee digital transition
10th June 2024
The International Underwriting Association (IUA), which represents companies in the London insurance market, has formed a new committee to oversee the adoption of digital services. As part of the Blueprint Two initiative, a unified digital platform for processing premiums and claims is being developed, with the first phase set to launch ... Read the full article
Arturo names Juan Pujadas to Board of Directors
23rd May 2024
Juan Pujadas, an advisor at Blumberg Capital where he supports fintech portfolio companies such as EarnUp and Field Materials, has joined the Board of Arturo, the property intelligence company that delivers portfolio-wide underwriting, risk, claims and catastrophe-driven event insights. “I am honoured to serve on Arturo’s Board of Directors,” stated Pujadas. ... Read the full article
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