Has the Re/Insurance Industry Missed a Major North American Risk?

The United States remains the largest peak peril risk area in the global re/insurance market and accounts for the bulk of the reinsurance that’s traded. Over the past few years, though, we’ve seen more risk transfer transactions that account for cross-border catastrophe events, focusing on the United States and Canada. Nearly 20 percent of all … Read more

North Korea fires volley of missiles after U.S., South Korea stage drills By Reuters

2/2 © Reuters. FILE PHOTO: A North Korean flag flutters on top of a 160-metre tower in North Korea’s propaganda village of Gijungdong, in this picture taken from the Tae Sung freedom village near the Military Demarcation Line (MDL), inside the demilitarised zone separat 2/2 By Byungwook Kim and Josh Smith SEOUL (Reuters) -North Korea … Read more

Hylant expands captive business to North Carolina

Hylant Group Inc. said Thursday it has expanded its captive business to North Carolina and hired former Strategic Risk Solutions Inc. executive Julia Schroeck as senior account manager, based in Charlotte. With the addition of Ms. Schroeck, Hylant’s global captive solutions team now has a footprint across three countries and nine states. North Carolina is … Read more

IMD predicts heavy rain in North Bengal, Northeast over next 4 days

India Meteorological Department (IMD) on Thursday predicted heavy rain in Sub-Himalayan West Bengal and the northeastern states over the next four days owing to a cyclonic circulation over southern Bangladesh and adjoining northern Bay of Bengal. Conditions have become favourable for the advance of southwest monsoon in the region … Read more

Members approve North P&I, Standard Club’s planned merger

The Standard Club Ltd. and The North of England Protecting and Indemnity Association Ltd. will merge after members of both organizations approved a proposal to merge, Verdict reported. The merger will create a new global marine insurance company called NorthStandard with effect from Feb. 20, 2023.     Read more Source link

North Atlantic Hurricane Season Begins With Ripe Conditions for Above-Average Activity

New You can now listen to Insurance Journal articles! As the North Atlantic Atlantic hurricane season begins officially today, forecasters continue to predict above-average storm activity. The pre-season forecast update for North Atlantic hurricane activity continues to forecast 18 named storms, eight hurricanes and four major (Category 3 and above) hurricanes, according to storm tracking … Read more

Beazley names head of North America commercial property

Beazley PLC on Friday named Matthew Westhoff to the newly created role of head of North America commercial property. Mr. Westhoff, who is based in New York, joined Beazley in 2019 as head of its U.S. large commercial property business. Prior to that he held various leadership roles at Berkshire Hathaway Specialty and American International … Read more

North Carolina Unveils Flood-Warning System for Roads

The North Carolina Department of Transportation has armed itself with an advanced flood-warning system designed to help pass the word to motorists on any flood risks to roads, bridges and culverts. A news release from the department says the system will rely on a network of 400 river and stream gauges. Information will be passed … Read more

North Sea operators warn of reduced investment and output

Oil and gas operators reacted with dismay on Thursday after the UK government surprised them with a multiyear raid on their profits with some warning that they would review their commitment to the North Sea. Executives had expected Rishi Sunak to hit them with a one-off windfall tax, to help finance measures to ease the … Read more