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California-headquartered ALKEME, ranked as one of largest U.S. insurance brokerages, has continued its growth spurt with the recent acquisition of Professional Benefits Consultants, based in Canton, Georgia. The move underscores ALKEME’s expansion in the Southeast and the growth of its benefits line of business, the company said in a news release. PBC, helmed by President … Read more
Critics of the 2024 bill, including Mark Friedlander, director of corporate communications for the Insurance Information Institute, raised concerns about its potential financial impact, suggesting it could expose the state to significant financial risk.
Neal’s leadership coincided with significant global challenges, including Brexit, the COVID-19 pandemic, inflationary pressures, and geopolitical uncertainties. He worked to address these issues while promoting the insurance industry’s role in supporting sustainability efforts, including climate change initiatives.
Despite the slowdown in rate hikes, the average cost of full car insurance coverage is expected to reach a record high of $2,101 per year. The states of Nevada and Florida are set to overtake Michigan as the most expensive state for auto insurance in 2025, with annual full insurance costs expected to be at … Read more
Starting this spring, surplus lines brokers in Alabama must file quarterly reports showing all surplus lines transactions, the state Department of Insurance said this week. The rule is in keeping with state law and took effect Jan. 1. The quarterly schedule: Q1: due May 30 Q2: due August 30 Q3: due Nov. 30 Q4: due … Read more
Insurance broker Aon plc announced the appointment of John Neal as global CEO of Reinsurance at Aon and chairman of Climate Solutions, effective following the conclusion of his notice period at Lloyd’s of London where he has served as CEO since October 2018. Aon said Neal will help lead its efforts to address the growing … Read more
“This is an exciting opportunity to dive deeper into different areas of expertise bundled under Specialty Reinsurance | Munich Re such as the North American agriculture, as well as our global aviation, contingency and marine business,” she said. “I look forward to new insights from clients, partners and my colleagues in order to further develop … Read more
The BMA stated that the stress-testing results confirm the Bermuda market’s capacity to absorb financial market volatility, catastrophe events, and other underwriting loss scenarios. Despite hypothetical severe losses, Bermuda insurers and reinsurers demonstrated sufficient capital to meet policyholder obligations and regulatory requirements.
Millions of people in California face at least two more days of dry, hot winds that have fanned fires across Los Angeles County and sent residents fleeing for their lives. Hurricane-force wind gusts of as much as 86 miles (138 kilometers) per hour have torn through the region, pushing flames through high-priced neighborhoods and hampering … Read more