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News – Insurance Journal

UK’s May Eyes Extension of Brexit Transition Period to Unlock Impasse with EU
British Prime Minister Theresa May signaled on Thursday she would consider extending a so-called transition period “for a matter of months” after Britain leaves the European Union, a move her critics say is a betrayal of Brexit. Less than six …

POSTED OCTOBER 18, 2018 10:36 AM
Gallagher Acquires UK Commercial Broker Portmore
Global insurance broker, risk management services and consulting firm Gallagher announces the acquisition of Portmore Insurance Brokers Ltd. and Portmore Insurance Brokers (Wiltshire) Ltd. in the UK. Terms of the transaction were not disclosed. Based in Southampton, England, Portmore was …

POSTED OCTOBER 18, 2018 10:03 AM
RenaissanceRe Estimates Q3 Claims Costs of $155M from Natural Catastrophes
RenaissanceRe Holdings Ltd. announced it currently estimates that the cost of claims from third quarter 2018 catastrophe events will have an estimated net negative impact of approximately $155 million on its third quarter 2018 results. The estimated losses for these …

POSTED OCTOBER 18, 2018 9:45 AM
TigerRisk Adds Retro Specialist Hughes from Aon to London Retro Team
TigerRisk Partners LLC, the Stamford, Conn.-based insurance and reinsurance broker, announced it has appointed Jonathan Hughes as partner. Hughes will report to Alex Bridges, head of TigerRisk’s Retro Team, and will work in TigerRisk’s London office. Hughes joins TigerRisk from …

POSTED OCTOBER 18, 2018 9:05 AM
Swiss Re to Post ‘Large’ Q3 Losses from Italy Bridge Collapse, Natural Disasters
Swiss Re AG said it will post relatively “large” losses from claims in the third quarter, as man-made disasters including the collapse of a bridge in Italy add to damage from storms. Natural disaster claims, mainly from Japan and North …

POSTED OCTOBER 18, 2018 8:34 AM
Louisiana Citizens’ Commercial Insurance Policy Rates to Drop Next Year
A rate decrease request for commercial property policies filed by Louisiana’s property insurer of last resort has been approved by the state’s insurance commissioner. Commissioner of Insurance Jim Donelon has approved Louisiana Citizens Property Insurance Corporation’s recent request to lower …

POSTED OCTOBER 18, 2018 5:59 AM
Texas Windstorm Insurer’s Request to Hike Liability Limits Denied
Texas Insurance Commissioner Kent Sullivan has declined to approve the request by the state’s property insurer of last resort for wind and hail along the Texas coast to increase maximum limits of liability for certain types of property. The Texas …

POSTED OCTOBER 18, 2018 5:34 AM
Glen Mulready, Candidate for Oklahoma Insurance Commissioner
Oklahoma Insurance Commissioner Election 2018 The office of the insurance commissioner in Oklahoma is an elected position. The current commissioner, John D. Doak, is term limited and cannot run again; his successor will be determined in the general election that …

POSTED OCTOBER 18, 2018 5:05 AM
Treasury Erases ‘Too-Big-to-Fail’ Label on Prudential
The Trump Administration has rescinded the systemically risky – or “too big to fail” – designation for Prudential Financial that placed the financial services giant under extra regulatory scrutiny. The designation of Prudential as a systemically important financial institution (SIFI) …

POSTED OCTOBER 18, 2018 5:00 AM
National Safety Board Calls for Standards for Drugged Driving Tests
U.S. transportation safety officials are sounding the alarm on drug-impaired driving, calling for state and federal regulators to do more to tackle the growing problem as states grapple with prescription drug abuse and adopt a more permissive stance on marijuana. …

POSTED OCTOBER 18, 2018 5:00 AM

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