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Global insurer and reinsurer American International Group (AIG) has appointed Gavin Spencer as head of North America Specialty, in addition to his role as head of North America marine starting in 2024. Spencer has nearly two decades of industry experience in the U.S. and international markets. Spencer joined WE Cox Claims Group in 2006. At…
Stand, a property insurance and risk mitigation company that uses advanced models to assess catastrophe risk at the individual household level, has launched the first voluntary hurricane insurance product in Florida. The launch marks the expansion of the company’s activities in the state and reflects its strategy of linking insurance pricing to property-level resilience improvements….
Commercial property and casualty insurance and reinsurer WR Berkley Corporation has appointed Kirk A. Parker president of Berkley North, effective immediately. Parker has nearly three decades of leadership experience in the property and casualty insurance industry. He also has expertise in optimizing operations and accelerating profitable growth in distribution networks. Most recently served as senior…
Lincoln Financial, a US financial services company specializing in insurance, retirement and wealth management products, has announced the promotion of three senior executives to its Senior Management Committee (SMC). The company appointed Darrel Tedrow as executive vice president, president of life insurance and retail shared services; Curtis Chesney as executive vice president and president of…
Canadian commercial insurance premium rates continued to rise in the first quarter of 2026, but declined from the average premium renewal rate of 3.85% in the same period last year to 1.67%, according to Applied Systems’ Applied Commercial Index™ data. Premium renewal rate growth slowed across nearly all major commercial lines compared with the previous…
Global insurance and reinsurance brokerage and risk advisor Aon has announced two key leadership appointments within Aon Reinsurance Middle East Limited. Hassan Elamin has been appointed interim managing director, Middle East, Africa and Türkiye. In this role, Elamin will oversee the adjunct business in the Middle East, Africa and Turkey, focusing on delivering tailored adjunct…
Conning, an investment management firm specializing in insurance and institutional investors, has released a new perspective examining how property and casualty (P&C) insurers can adjust their portfolios as underwriting conditions become more competitive and the benefits of rising interest rates begin to wane. In the next differentiator: investment strategies in the evolving property and casualty…
The Insurance Information Institute (Triple-I), a U.S. insurance industry research and education organization, reports that lightning-related homeowners insurance losses will increase significantly across the United States in 2025 due to increased claims volume and rising repair and reconstruction costs. Insurers will pay an estimated $1.65 billion in lightning-related homeowners insurance claims during 2025, up from…
CRC Group, an independent wholesale specialty insurance distributor, announced the launch of a mid-market property program on its Insurrisk platform, providing responsiveness and specialty underwriting solutions for non-catastrophe commercial property risks. The program supports single location and small value accounts with a streamlined underwriting approach and efficient market access. It is supported by papers rated…
Gallagher Re said that severe convective storm (SCS) activity occurred almost daily during the first two weeks of June, affecting several major metropolitan areas from the Rockies to the Northeastern United States, and estimated to cause billions of dollars in total losses to the insurance industry. Dozens of confirmed tornado touchdowns, damaging large hail, damaging…