The Insurance Council of Australia (ICA) has declared an Insurance Catastrophe for the strong winds and damaging hail that impacted South East Queensland between Sunday, 23 November and Monday, 24 November, noting that insurers have already received more than 16,000 claims across more than 140 postcodes for the event, which will be known as CAT 255.
AXA XL, the property and casualty (P&C) and specialty risk division of AXA, has announced the appointment of Enrique López Torrents as Country Manager, Iberia, effective May 9, subject to regulatory approval.
World-leading provider of natural catastrophe data and satellite data – ICEYE, has announced that its satellite data and imagery will be explored to provide the inputs to support the parametric insurance trigger for a recently announced UNDP backed project in Ghana.
Former Google and Ripple executives have raised $8.5 million for a startup, called Skyfire, building a payments network that enables AI agents to make autonomous transactions.
Inigo Limited (Inigo), a specialist insurance company, has recently announced its partnership with Samsara, an Industrial Internet of Things (IoT) firm. Together, they aim to revolutionise insurance solutions for US companies with large automotive fleets.
Scammers could crack 45% of passwords within a minute, using brute force or smart guessing attacks, warns security firm Kaspersky.
RT Specialty, the wholesale brokerage division of Ryan Specialty, an international specialty insurer, has appointed Amber Carver as President, based in Salt Lake City, Utah.
Corvus Insurance, the specialty MGA, has announced the appointment of Paul Gaspar as Chief Data Officer, effective immediately.
Catastrophes, Property, Risk Management Swiss Re
According to a recent AM Best report, the rating agency is maintaining its negative outlook on Mexico’s insurance market segment, owing to increased levels of inflation and slow GDP growth.
Agents and Brokers, Cyber Risks, P/C Insurers Liberty Mutual, Marsh & McLennan
The Stonybrook Capital and Weild & Co. North American Insurance Composite showed a notable increase of 1.5% during the week of February 16th-23rd, maintaining its record setting performance from the preceding week (Feb 9th-16th), which saw a rise of 2.1%.
Australian open banking platform Basiq has closed a Series A funding round joined by NAB Ventures, Salesforce Ventures and Westpac’s Reinventure. The size of the round was not disclosed.
The cancellation of Viridium Gruppe’s planned partial purchase of Zurich Germany’s life book has renewed concerns that regulators are scrutinising private equity (PE) backed consolidators in the life sector more closely, which may reduce the pace of back-book consolidation, Moody’s analysts have highlighted.
Elmore Insurance Brokers and RegTech Green Swan Compliance have teamed up on the development of an Authorised Push Payment (APP) Fraud Reimbursement Insurance product for qualifying UK banks, Payment Service Providers, E-Money Institutions, and Authorised Payments Institutions.