Author: completebodyneeds

This edition of International People Moves details appointments at Howden Re and Zurich Insurance Group. A summary of these new hires follows here. Howden Re Expands Cyber Reinsurance Team With 5 New Hires Howden Re, the global reinsurance, capital markets and strategic advisory arm of insurance broker Howden, announced five new appointments to its cyber reinsurance team. The expansion reflects sustained growth in global client demand for Howden Re’s cyber capabilities, establishing a dedicated US cyber reinsurance resource to service a growing US client base. Michael Giuliano Michael Giuliano joins as director on the cyber reinsurance team. Based in New…

Marsh Risk, a business of insurance broker and risk advisor Marsh, announced that its Marsh Alpha directors and officers (D&O) insurance facility now offers unlimited claims on a single, unrelated basis as standard. Marsh Alpha, which provides protection for individual directors and officers not indemnified by their firm, is the first insurance solution of its kind to offer an “any one claim” benefit to all commercial clients globally. Launched in 2010, Marsh Alpha is Marsh Risk’s flagship “Side A” difference in conditions (DIC) coverage, which offers clients up to $150 million in insurance coverage for claims brought against directors and…

Arch Insurance EU announced the launch of its European property operations, alongside the opening of a new office in Milan writing accident & health, cargo & logistics, fine art & specie, general liability and property, effective immediately. This development marks a significant milestone in Arch’s ongoing expansion across Continental Europe, broadening its underwriting capabilities and strengthening its position as a multi-line, P/C insurer in the region. The new property capability will be delivered through underwriting hubs in France, Italy and Spain. With a broad risk appetite, the team provides insurance solutions across the full range of property occupancy types. This…

Insurtech car insurance provider Root said it has started a 24-hour agent appointment program to allow independent insurance agents to complete onboarding and begin selling policies in as little as one day. Root Insurance said traditional insurance carrier onboarding often takes weeks, but its 24-hour agent appointment program compresses this process into a single-day, fully digital experience to give independent agents faster access to revenue opportunities. Root said it has appointed more than 7,500 agents since launching. About 2,400 agents have been added this year. More than 15,000 independent agents are appointed with Root and 4,000 agencies are approved to…

The Iran war is “supercharging” the world’s shift to renewable energy, as countries scramble to reduce their exposure to volatile oil and gas markets, the U.N. climate secretary said on Thursday. The U.S.-Israeli war with Iran has upended oil and gas supplies, prompting some countries to ration fuel and others to roll out subsidies and tax cuts to shield consumers from surging prices. Early signs indicate the war, which began two months ago, is speeding up some countries’ low-carbon transition. Demand for rooftop solar systems across Europe has surged, while countries including Pakistan have reported a jump in electric vehicle…

California regulators apologized to SpaceX CEO Elon Musk this week as they settled a lawsuit that claimed a state agency showed political bias against the rocket company and its chief executive. As part of the settlement, the California Coastal Commission acknowledged its members made “improper” statements about Musk’s political beliefs at a 2024 hearing on SpaceX’s Falcon 9 launch program. “The commission agrees that it may not consider irrelevant factors in performing its function and specifically agrees that it will not take into account the perceived political beliefs, political speech or labor practices of SpaceX or its officers in considering…

A few Iran-linked vessels are making their way through the Strait of Hormuz, as the crucial waterway remains effectively closed to most international shipping amid blockades by both Tehran and the US. Just a single Iran-linked fuel tanker was observed entering the Persian Gulf on Thursday morning, with no exits for the day recorded so far, according to vessel-tracking data compiled by Bloomberg. That follows just three outbound and two inbound transits of dry cargo ships on Wednesday, most of which have ties to Tehran. Brent crude futures earlier hit a four-year high amid the supply disruption. The US and…

Reflecting the property protection philosophy that has driven the company for nearly two centuries, commercial property insurer FM has earned a Guinness World Records title for the world’s largest display of fire sprinklers. A total of 1,007 sprinklers line the wall of the FM Research Campus lobby in West Glocester, Rhode Island, with models spanning from the 19th century to the present. The facility is about 20 miles northwest of FM’s headquarters in Johnston. “You are officially amazing and the recipient of a brand-new Guinness World Records title,” said Guinness World Records Adjudicator Thomas Bradford, who counted every device in…

Camp Mystic on Thursday said it has withdrawn its application for an operating license, a decision that means it will not reopen to campers this summer. The decision follows a grueling hearing earlier this week when Texas lawmakers pushed the family that runs the camp to consider if they were truly ready to reopen after 25 campers and two counselors died there during last year’s July 4 flood, along with the camp’s executive director Dick Eastland. Family members of the girls who died also spoke passionately to the camp directors in that hearing about their loss. “No administrative process or…

Michigan Attorney General Dana Nessel has secured an agreement with Northeast Gravel Company and Boulder Creek Development Corporation to address PFAS contamination at their Belmont property. The Administrative Order on Consent (PDF) requires the companies to investigate the extent of PFAS contamination at the property, conduct necessary response activities, and take actions to protect residents whose drinking water has been impacted. Northeast Gravel Company previously operated a landfill at the Belmont site. In 2018, one of the cells at the landfill was found to be leaking PFAS, which was subsequently discovered to be contaminating groundwater used for drinking water by…