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The Baldwin Group and CAC Group are joining forces in a deal that will create one of the largest insurance brokers in the U.S. owned mostly by its employees and publicly traded. This merger brings together Baldwin’s broad middle-market reach with CAC’s specialty expertise. The total value of the deal is $1.026 billion upfront. Baldwin … Read more

Arthur J. Gallagher & Co. has completed its purchase of AssuredPartners, a major U.S. insurance brokerage firm. This move broadens Gallagher’s reach in the middle-market property and casualty insurance and employee benefits sectors across the country. The deal, originally announced in December, was valued at $13.45 billion in cash. After accounting for a deferred tax … Read more

Swiss Re has claimed the top spot among the world’s largest reinsurers for 2024, thanks to its switch to the IFRS 17 accounting standard. This shift has caused a significant reshuffle among leading reinsurers, according to a recent report by AM Best. Until recently, Swiss Re reported under the older GAAP standards. With the move … Read more

Residents of Juneau, Alaska, faced another round of flooding this year from the Mendenhall Glacier, a problem that has become an annual challenge. Fortunately, a large temporary wall of reinforced sandbags helped keep the worst of the floodwaters at bay, a relief compared to the severe damage seen in recent years. The flooding happens because … Read more

Fleet management is changing fast thanks to new technology, but it’s not always an easy switch. A recent report shows that 72% of fleets now use maintenance software. Still, many juggle several platforms and manual tasks, which causes extra work and gaps between systems. Drivers today deal with more technology than ever. Electronic logging devices … Read more

Global marine insurance premiums reached a record $39.92 billion in 2024, marking a growth rate of 1.5%. This is a noticeable slowdown compared to the 5.9% growth in 2023 and 8.3% growth the year before, according to the International Union of Marine Insurance (IUMI). Despite this slower pace, competition in the industry is heating up, … Read more

In 2024, the FBI’s Internet Crime Complaint Center received over 859,000 reports of suspected internet crimes, with losses exceeding $16 billion—a 33% jump compared to the previous year. As cyberattacks grow more frequent and sneakier, experts agree that a solid defense system is crucial. But this defense can’t just be simple; it needs to be … Read more

War risk insurance rates for ships passing through the Black Sea have risen following recent attacks on two oil tankers headed for a Russian port. The incidents, involving Ukrainian naval drones, have made insurers and charterers rethink risks and prepare for possible further disruptions. Insurers now charge about 0.5% of a vessel’s value for a … Read more

Accenture is set to buy Australian cybersecurity company CyberCX in what will be its largest deal in the cybersecurity sector. The Australian Financial Review estimates the purchase price to be over A$1 billion, which is about $650 million US dollars. The move comes amid a rise in major cyberattacks in Australia. Big companies like Optus … Read more

West Virginia is finally moving ahead with two important studies aimed at reducing flood risks, nearly ten years after deadly floods struck the state in 2016. Governor Patrick Morrisey recently announced the state will partner with the U.S. Army Corps of Engineers to study flood management strategies across 20 counties in the Kanawha River Basin, … Read more