US North East
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By line of business, $35mn of the charge relates to commercial auto and $5mn to personal auto. -
Northeast Insurance said 55 claims were brought under the Child Victims Act.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Superintendent Harris is stepping down this month after four years of service.
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The WCB has denied the allegations, claiming its decisions were based on “reasonable investigations”.
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The ratings outlook has also been revised to stable from negative.
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Life-threatening surf and rip currents are expected on the east coast of the US.
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The state’s Supreme Court upheld two lower court decisions finding no liability.
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Total revenues grew 12% due to the contribution from acquisitions.
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Category 4 and 5 storms could become more common and hit further north.
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The MGA and parent company Roosevelt Road Re have until July 21 to file a second amended complaint.
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The outages began around 07:00 ET on Tuesday.
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The insurer’s system has now been out of commission for over two weeks.
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The Pennsylvania-based insurer experienced a 10-day network outage this month.
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The insurer first noticed “unusual network activity” on June 7.
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The company first experienced system disruptions on June 7.
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Previous complaints alleged their involvement, but this is the first time a complaint has identified the alleged funders.
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Lucy Clarke said the broking business was resilient in the face of macro challenges.
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Organic growth was flat on the prior year and in line with Q4 2024 figures.
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The underwriter will be based in New York and drive underwriting strategy.
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Shift to growth includes all geographies in which the company does business.
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Competition for specialty reinsurance talent remains high.
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Most US states have been silent on the regulation of parametric insurance.
