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United Risk Global and Applied Underwriters are making big changes in their leadership as they continue to grow internationally. This announcement comes on June 13, 2025, highlighting the company’s ambitious plans since its founding. Richard Christofer has been promoted to president and chief commercial officer. He will lead the recruitment of new underwriting programs and … Read more

USAA is making a significant move by purchasing a new office building in Chesapeake. The company has acquired a larger space at 1341 Crossways Blvd., which is just a short drive from its current location. This new facility, covering nearly 200,000 square feet, will help USAA expand its operations and is expected to create over … Read more

Extreme weather is becoming a costly issue in the United States. Last year alone, fires, droughts, and storms led to damages exceeding $182 billion. However, the federal government has announced that it will stop tracking these disasters. The National Oceanic and Atmospheric Administration (NOAA) revealed on Thursday that it will discontinue its widely used database, … Read more

Residents of New Mexico are being warned to prepare for possible power outages as high winds and dry weather increase the risk of wildfires. This alert came from electric providers during a public hearing held by the New Mexico Public Regulation Commission in Santa Fe on Thursday. The hearing is part of a series of … Read more

New York law enforcement has charged 20 individuals in connection with a major car theft ring that operated across New York City and its suburbs. The group is accused of stealing vehicles worth over $4.6 million, often reselling them at significantly lower prices through social media platforms like Facebook and Instagram. The stolen cars included … Read more

New data from the LexisNexis US Auto Insurance Trends Report shows significant changes in the auto insurance market. Released on June 13, 2025, the report reveals a rise in driving violations, shifting consumer behaviors, and a slow recovery in profitability for insurance companies. Driving violations have surged by 17% compared to last year, exceeding levels … Read more

A recent analysis of insurance companies in the United States has revealed some surprising trends in how they manage their reserves. The study, which focused on the top 20 insurers based on their reserve-to-paid-loss ratio, found that 45% of these companies are taking a conservative approach to reserving. In contrast, 30% are being more aggressive, … Read more

Munich Re Specialty–North America (MRS-NA) has launched a new business line focused on life science liability insurance, which aims to strengthen its presence in the growing healthcare and biotechnology sectors. This announcement was made on June 13, 2025, and reflects the rising demand for specialized coverage among companies in the life sciences field. The new … Read more

International Holding Co. (IHC), the largest listed company in Abu Dhabi, is launching a new reinsurance venture with BlackRock Inc. This partnership will kick off with over $1 billion in initial equity commitments and aims to manage $10 billion in liabilities. The new firm, which has yet to be named, will be based in Abu … Read more

Shape Underwriting, based in London, has made a significant move by acquiring Protect Underwriting LLP, a specialist in high-net-worth insurance. This acquisition is particularly notable as it is Shape Underwriting’s first since the company rebranded from Clear Group. The financial terms of the deal have not been revealed. Mandy Hunt, the managing director of Shape … Read more