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Insurer Payouts Now at $12B for LA Wildfires, Report Shows
Insurance companies have so far paid out more than $12 billion for losses from the two biggest of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes in January. California Insurance Commissioner Ricardo …
POSTED MARCH 12, 2025 6:18 PM |
People Moves: Arch Insurance Names 2 Senior Leaders for Casualty Team in Spain
Arch Insurance Names 2 Senior Leaders for Casualty Team in Spain Arch Insurance announced the appointments of Carmen Cobeta as head of Casualty, Spain, and Irene Fernandez Franic as senior casualty underwriter, effective immediately. Cobeta and Fernandez Franic join Arch …
POSTED MARCH 12, 2025 4:25 PM |
J.P. Morgan Economist Sees 40% Chance of US Recession
There is about a 40% chance of a U.S. recession this year and a risk of lasting damage to the country’s standing as an investment destination if the administration undermines trust in U.S. governance, according to J.P. Morgan’s chief economist. …
POSTED MARCH 12, 2025 4:24 PM |
Texas Reports 25 New Measles Cases, Bringing State Total to 223
Authorities in Texas reported 25 new measles cases over the last five days, bringing the state’s total to 223 as the outbreak continues to spread. Authorities in Texas, the hardest-hit state with the first confirmed US measles death in a …
POSTED MARCH 12, 2025 4:24 PM |
Potent Storm System Threatens Central US
A potent storm system is expected to pour heavy rain on western states later this week before rumbling into the central United States, where it could spawn tornadoes in the South and dump heavy snow across the parts of the …
POSTED MARCH 12, 2025 4:19 PM |
Missouri Threatens to Seize Chinese Assets Across U.S. in $24 Billion Lawsuit
Missouri’s attorney general is threatening to seize Chinese assets across the U.S. to collect $24.5 billion awarded in a lawsuit against China stemming from the COVID-19 pandemic, but experts were skeptical Monday, with one saying, “Good luck with that.” China’s …
POSTED MARCH 12, 2025 4:16 PM |
People Moves: Sweeney Appointed Chief Credit Officer at Concert Group
Concert Group, headquartered in Chicago, appointed Thomas G. Sweeney as chief credit officer. Sweeney oversees all aspects of credit risk for Concert Group, including its admitted carrier, Concert Insurance Company, its non-admitted carrier, Concert Specialty Insurance Company, and its risk …
POSTED MARCH 12, 2025 4:08 PM |
Markets/Coverages: MS Amlin, MSIG UK Launch Dual-Stamp Capacity for London Market
MS Amlin, the Lloyd’s re/Insurer, and its sister company, Mitsui Sumitomo Insurance Co. (Europe) (MSIG UK), announced the expansion of their London market footprint with the launch of a new dual-stamp underwriting capability. The solution allows MS Amlin underwriters to …
POSTED MARCH 12, 2025 4:07 PM |
Chubb Combines Lower Middle Market and Digital Small Business Units
Global insurer Chubb announced the creation of a new division within its North America Middle Market organization, combining its Lower Middle Market and Digital Small Business divisions into a single unit. The new unit will operate as North America Small …
POSTED MARCH 12, 2025 2:54 PM |
15 Injured When School Bus Overturns on Parkway in New Jersey
A school bus carrying 31 people overturned on the Garden State Parkway in New Jersey, sending more than a dozen people to hospitals, officials said. New Jersey State Police said 15 people, including the driver and 14 young people, were …
POSTED MARCH 12, 2025 2:36 PM |
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