As a new parent, you’ll want to make certain that your entire family is financially secure by virtue of reliable health insurance, especially if you’ve just had your first child. Fortunately, the coming or addition of a child to a family, either by birth or adoption, can count as a QLE or Qualifying Life Event, […]
Archives for December 2024
Majority of US insurers expect to exceed a growth rate of 5% in 2025: Aon
Global insurance and reinsurance broking group Aon has released its latest capital poll, which showcases that most US insurers expect to exceed a growth rate of 5% in 2025. According to the firm, many survey respondents foresee a favorable environment conducive to direct premium growth, with roughly 44% expecting to grow by a range of […]
How Should You File Your Taxes While Maintaining Marketplace Insurance?
Some people can’t help it but see the coming of the tax season as the most stressful time of the year, but that doesn’t have to be the case for everyone. You shouldn’t be worried if you have a Health Insurance Marketplace plan. Do you have a Health Insurance Marketplace plan in the coming year? […]
IGP&I completes 2025/26 reinsurance renewal amid rising claims
The International Group of P&I Clubs (IG) has finalised its 2025/26 Group Excess of Loss Reinsurance contract (GXL) structure, demonstrating continued support from key reinsurance partners despite a challenging year marked by increased pool claims and an active hurricane season. Following quieter years for claims in 2022/23 and 2023/24, the 2024/25 policy year has seen […]
How Do We Define Short-Term Health Insurance?
If you have been on a quest for new health insurance, there is a good chance that you have heard of or come across the Marketplace before. You will find a handful of Affordable Care Act (ACA)-compliant Obamacare plans there. Even though the prevalent insurance programs you are likely to see are mostly Obamacare health […]
Gallagher names Bassett and Brookes as CEOs within Specialty arm
Insurance and reinsurance broker Gallagher has appointed Paul Bassett as CEO of Crisis Management and Simon Brookes as CEO of Financial Lines within its Specialty division, both reporting to Jonathan Turner, CEO of Gallagher Specialty. Julian Wallers, who previously served as CEO of Financial Risks, overseeing both teams, has chosen to transition into a Chairman […]
Norway provides $4.5m to ARC’s SACPIP-Africa to strengthen climate resilience
Norway, through the Norwegian Agency for Development Cooperation, has provided NOK 50 million (approximately $4.5 million) to the African Risk Capacity Limited’s (ARC Ltd) Supporting Adaptation Capacity Through Increased Parametric Insurance Penetration in Africa (SACPIP-Africa) initiative. The partnership was formalised during a signing ceremony at the CARICOM Pavilion at COP29 on November 13, 2024. Climate […]
AIG leads launch of new reinsurance syndicate at Lloyd’s
Global insurance firm American International Group, Inc (AIG) has led the launch of a new reinsurance syndicate at the specialist Lloyd’s marketplace, which will be a multi-year participant on the firm’s outwards reinsurance program. Syndicate 2478 will commence underwriting from January 1st, 2025, and will be managed by Talbot Underwriting Limited at Lloyd’s. The new […]
Howden Re appoints Paul Nicholson and Dominic Riley to its aviation and space team
Howden Re, the reinsurance arm of Howden, has announced the appointments of Paul Nicholson and Dominic Riley to its Aviation and Space team within the Global Specialty Reinsurance division. These appointments are set to enhance Howden Re’s Global Specialty Reinsurance division, which has seen significant growth since its establishment two and a half years ago […]
US nonstandard auto insurance manages to squeeze small profit in H1’24, AM Best
According to AM Best, the global credit ratings agency, the US nonstandard auto insurance segment has posted a slight profit for the first half of 2024, following two years of unprofitable but improving results. A new report released by the agency states that the results of the companies that comprise AM Best’s private passenger nonstandard […]