Allianz Trade forecasts global business failures will climb 6 percent this year and another 5 percent next year before dropping slightly in 2027. The trade credit insurer said corporate bankruptcies in the United States will jump 9 percent by the end of 2025, despite tariffs offering short-term relief to some domestic companies. Higher material costs…
Transamerica and the MIT AgeLab published a study examining how middle-income Americans handle financial risks and prepare for their futures. The research revealed that more than half of the participants felt confident about their money decisions, but only half understood basic financial concepts. This gap means many families may not recognize their vulnerability to health…
Bishop Street Underwriters has created Bishop Street Program Managers to help launch specialty insurance companies in the United States. The incubator gives entrepreneurial underwriters access to infrastructure, capital, and insurer connections needed to start managing general agents within 90 days. The program taps into Bishop Street’s $600 million gross written premium platform and provides shared…
Novatae Risk Group named Kimberly Jenkins as chief operating officer to guide operations and business planning at the wholesale unit of World Insurance Associates. Jenkins joins the executive team after Richard Kerr left his chief executive position in August and Nick Greggains absorbed his duties while running the wholesale division. She will develop strategies to…
Homeowners face pressure from expensive premiums, climate threats and inflation that are changing the insurance market, a Nationwide study shows. About 63 percent of policyholders trust their coverage, while more than half remain unclear about protection details. Agents report clients worry most about premium increases, weather damage and repair bills. Insurance representatives now push smart…
Companies worldwide face mounting barriers from trade disputes, energy costs, inflation and political instability, according to a Beazley survey of 3,500 executives. The 2025 Geopolitical and Economic Risk report shows 68 percent of firms cite uncertainty as a growth obstacle, climbing to 83 percent by July. Inflation concerns rose to 27 percent from 24 percent…
A 1967 California wiretapping statute has emerged as the primary legal foundation for cyber privacy lawsuits against American businesses. The California Invasion of Privacy Act drives roughly 70 percent of wrongful data collection claims filed with cyber insurer Coalition since 2023. This litigation trend spreads rapidly across all commercial sectors and extends far past state…
More than 9,000 insurance professionals and 762 sponsors gathered in Las Vegas for InsureTech Connect 2025 last week at Mandalay Bay. The three-day event featured discussions on climate risk, cyber threats, artificial intelligence, and system modernization as the sector moves toward digital advancement while managing older infrastructure. Jason Kaminsky of kWh Analytics said conversations revealed…
Insurance companies that have upgraded their technology can share their stories through a new industry survey. Organizers seek examples from firms that have automated processes, built digital platforms, or changed how they serve customers. Businesses that modernized old systems or created new income sources through technology also qualify. The survey takes several minutes to finish….
Brown & Brown named Steve Hearn as president of its Retail segment, while he continues in his role as chief operating officer. Barrett Brown, the former president, took a personal leave. Powell Brown, the company’s chief executive, said Hearn brings 35 years of industry knowledge and will drive United States and international expansion. The appointment…
