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Nigeria Raises Insurers’ Minimum Capital Requirement
Nigeria increased the minimum capital requirement for insurers more than threefold as the industry regulator seeks to to improve the sector’s risk management. Existing companies must comply by June next year, while it is effective immediately for the issue of …

POSTED MAY 21, 2019 8:40 AM
Vale’s Gongo Soco Mine Tailings Dam Faces 10%-15% Risk of Collapse: Brazil Official
Brazilian miner Vale‘s tailings dam in the town of Barao de Cocais in Minas Gerais has up to a 15% chance of breaking, the state’s environment secretary said on Monday. The dam at Vale‘s Gongo Soco mine is about 40 …

POSTED MAY 21, 2019 8:36 AM
MS Amlin Buys Equity Stake in Specialist Reinsurance MGA Envelop Risk
MS Amlin announced the purchase of a strategic stake in Envelop Risk, a global specialist reinsurance managing general agent (MGA), which combines insurance expertise with artificial intelligence-driven cyber risk modeling. The investment sees MS Amlin take a minority strategic stake …

POSTED MAY 21, 2019 8:03 AM
UK Financial Services Industry Will Emerge Stronger from Brexit: Gov’t Ministers
Britain’s finance industry will emerge stronger from Brexit, remaining one of the world’s top financial centers, ministers in Prime Minister Theresa May’s government forecast on Monday. Since Britain voted to leave the European Union three years ago, London’s financial services …

POSTED MAY 21, 2019 7:48 AM
State Farm Cuts Homeowners Rates by 14.4% in Florida
State Farm has reduced its homeowners insurance rates by an average of 14.4 percent in Florida for current and future home insurance customers. The new rates went into effect May 15, 2019 for new business and July 1, 2019 for …

POSTED MAY 21, 2019 5:24 AM
Country Star Travis Tritt’s Tour Bus Involved in Fatal Wreck in South Carolina
Country music star Travis Tritt says his tour bus was “sideswiped” in a multi-vehicle crash that left two people dead in South Carolina. News outlets report the crash occurred early Saturday on Highway 22 in Horry County. One person suffered …

POSTED MAY 21, 2019 5:08 AM
Insurance Agency Tragedy: 3 Hilb Group Executives Die in Plane Crash
The Hilb Group, headquartered in Richmond, Va., has confirmed that three regional executives died in a plane crash near Roatán, Honduras, on Saturday, May 18. Rob Miller, regional leader, Hilb Group – New England, and managing director of Dowling & …

POSTED MAY 20, 2019 11:48 PM
Billionaire Paying Off College Students’ $40 Million Debt Has Ties to Insurance Industry
The billionaire technology investor and philanthropist who has promised to assume the $40 million student debt of the entire graduating class at Morehouse College has ties to the insurance industry. Robert F. Smith, who addressed the nearly 400 graduating seniors …

POSTED MAY 20, 2019 8:13 PM
Direct Written Premium Fell in California Workers’ Comp System in 2018
Total direct written premium in the California workers’ compensation system fell for the second consecutive year in 2018, declining 3.8 percent to less than $12.3 billion as nine of the 10 largest insurer groups in the state wrote less premium …

POSTED MAY 20, 2019 5:54 PM
Florida InsurTech HoneyQuote to Offer Technology Platform to Business Partners
Digital insurance agency HoneyQuote.com launched a new partnership program that allows businesses across industries to use HoneyQuote services for customers to purchase homeowners insurance. As part of the program, businesses can add home insurance to their list of services through …

POSTED MAY 20, 2019 4:56 PM

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