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Somerset Reinsurance Brokers News & Blog
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OCT
24
Triple-I calls for mitigation measures amid misconceptions about risk-based insurance pricing
By:
Beth Musselwhite
on
OCT
24
The Insurance Information Institute’s (Triple-I) recent Issues Brief highlighted misconceptions of risk-based pricing in property/casualty insurance, which some perceive as unfair, and recommended solutions, including modernising building codes and proactive mitigation measures. Risk-based pricing means offering different prices for the same level of coverage based on risk factors specific to the insured person or property. […] The post Triple-I calls for mitigation measures amid misconceptions about risk-based insurance pricing appeared first on ReinsuranceNe.ws.
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OCT
24
Addresscloud and Artificial partner to deliver ‘hyper-accurate’ US property risk data
By:
Kassandra Jimenez-Sanchez
on
OCT
24
Addresscloud, a UK geocoding and property intelligence expert, and Artificial, a London-based algorithmic underwriting and placement company, have partnered to enhance property intelligence and risk insights. The partnership will integrate Addresscloud’s rich, address-level property enrichment directly into Artificial’s platform. This integration will equip underwriters and brokers with access to more granular data, enabling them to […] The post Addresscloud and Artificial partner to deliver ‘hyper-accurate’ US property risk data appeared first on ReinsuranceNe.ws.
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OCT
24
McGill & Partners works with Google Earth AI for faster disaster response
By:
Kassandra Jimenez-Sanchez
on
OCT
24
Insurance and reinsurance broker McGill & Partners is leveraging Google’s cutting-edge AI and massive Earth observation data capabilities to enhance how they understand, model, and price global risks, particularly those related to climate and natural catastrophes. The broker is collaborating with Bellwether, a group of geospatial experts from X, Alphabet’s Moonshot Factory, to improve disaster […] The post McGill & Partners works with Google Earth AI for faster disaster response appeared first on ReinsuranceNe.ws.
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OCT
24
Wright Flood to acquire assets of Poulton Associates
By:
Beth Musselwhite
on
OCT
24
Wright National Flood Insurance Company (Wright Flood), a wholly owned subsidiary of Brown & Brown Inc. operating within Arrowhead Programs, has announced that its affiliate, Wright National Flood Insurance Services LLC, has entered into an agreement to acquire the assets of Poulton Associates LLC. Founded in 1989 and headquartered in Salt Lake City, Poulton Associates […] The post Wright Flood to acquire assets of Poulton Associates appeared first on ReinsuranceNe.ws.
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OCT
24
European reinsurers’ capital surplus could add pressure to 1/1 renewals
By:
Kane Wells
on
OCT
24
European reinsurers are entering the 1/1 renewal season with capital levels well above their target ranges, a development that could intensify pricing pressure across the market. According to J.P. Morgan’s latest Love Actuary report, the region’s largest reinsurers, which include Munich Re, Swiss Re, and Hannover Re, are materially over-capitalised, with Solvency II ratios sitting at […] The post European reinsurers’ capital surplus could add pressure to 1/1 renewals appeared first on ReinsuranceNe.ws.
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OCT
24
Kinsale Capital’s net income rises 24% to $141.6m in Q3’25
By:
Beth Musselwhite
on
OCT
24
Kinsale Capital Group, Inc. reported a net income of $141.6 million for the third quarter of 2025, an increase of 24% compared to $114.2 million for the same period a year earlier. Net income included after-tax catastrophe losses of $1 million, compared to $10.8 million in Q3’24. In Q3’25, net operating earnings amounted to $121.2 […] The post Kinsale Capital’s net income rises 24% to $141.6m in Q3’25 appeared first on ReinsuranceNe.ws.
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OCT
24
US Investors show strong interest in earnings growth and reinsurance discipline: Berenberg
By:
Taylor Mixides
on
OCT
24
Berenberg, the German private bank and investment firm, met with 20 US investors last week to present insights on the insurance and reinsurance sectors, with the discussions primarily addressing market outlook, company performance, and sector valuation. Investors engaged with Berenberg on the outlook for reinsurance, exploring whether the market is experiencing a controlled soft cycle, […] The post US Investors show strong interest in earnings growth and reinsurance discipline: Berenberg appeared first on ReinsuranceNe.ws.
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OCT
24
MS Amlin names Pinder Head of US Casualty, Kimber Head of International Casualty & Cyber
By:
Saumya Jain
on
OCT
24
Lloyd’s global insurer and reinsurer MS Amlin has confirmed several senior appointments in its Casualty Reinsurance team, including that of Rhian Pinder as Head of US Casualty, and Jonathan Kimber has been appointed Head of International Casualty & Cyber. These appointments, according to the re/insurer, aim to give the firm’s brokers and clients a clearer […] The post MS Amlin names Pinder Head of US Casualty, Kimber Head of International Casualty & Cyber appeared first on ReinsuranceNe.ws.
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OCT
24
Climate and inflation pressures drive record losses, according to LexisNexis Risk Solutions
By:
Taylor Mixides
on
OCT
24
LexisNexis Risk Solutions, a provider of data and analytics for the insurance and financial industries, has released its 10th annual US Home Trends Report. The study offers a detailed look at how claims trends across different perils are shaping the US home insurance market, helping carriers make more informed decisions in an increasingly challenging environment. […] The post Climate and inflation pressures drive record losses, according to LexisNexis Risk Solutions appeared first on ReinsuranceNe.ws.
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OCT
24
James Mitchell joins IQUW Bermuda as CUO
By:
Kassandra Jimenez-Sanchez
on
OCT
24
Specialty insurer and reinsurer IQUW Bermuda has announced the appointment of James Mitchell as Chief Underwriting Officer (CUO) with immediate effect. In his new role, as CUO, Bermuda, Mitchell will be responsible for leading all reinsurance underwriting. He will also play a pivotal role in developing IQUW Bermuda’s underwriting culture of technical excellence, with a […] The post James Mitchell joins IQUW Bermuda as CUO appeared first on ReinsuranceNe.ws.
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OCT
24
Bishop Street Underwriters Launches MGA Incubator
By:
on
OCT
24
Bishop Street Underwriters announced the rollout of Bishop Street Program Managers (BSPM), an incubator for developing managing general agents (MGA). Embedded within Bishop Street’s ecosystem and backed by its $600 million gross written premium platform, BSPM promises to provide the …
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OCT
24
Delaware Workers’ Compensation Rates Dropping Again
By:
on
OCT
24
Delaware’s workers’ compensation insurance rates paid by employers will decrease for the ninth year in a row, effective December 1. The voluntary private market average loss costs are expected to drop by 11.6%, while the residual market for high risk …
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OCT
24
Business Moves: MNK International Acquires Broker in Turkey; Specialist Risk Group Buys Healthcare Consultancy, Specializing in UK Professional Sports
By:
on
OCT
24
MNK International Acquires New Broker in Turkey MNK International, a London-based independent Lloyd’s broker, has acquired a new broker in Türkiye for an undisclosed amount. The business will focus on insurance and reinsurance solutions across a range of complex and …
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OCT
24
People Moves: The Baldwin Group Names Campo Construction Practice Partner
By:
on
OCT
24
The Baldwin Group, headquartered in Tampa, Florida, added Mike Campo as a partner in its construction practice, effective October 27. Campo is a Kansas City–based industry veteran who previously led construction practices at IMA and Lockton, advising contractors, developers, and …
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OCT
24
Best Agency to Work For – West Region: Kulchin Ross
By:
Don Jergler
on
OCT
24
Being Pleasant Is Key to Success at Small but Growing Southern California Firm Being pleasant may not sound like it’s part of a recipe for success at a firm operating in a space where people survive and thrive by making …
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OCT
24
People Moves: Aon Re Names Secker EMEA Chief Client Officer, De Bosini as Chief Broking Officer; ACORD Taps Former IUA CEO Matcham as Digital Markets Ambassador
By:
on
OCT
24
This edition of International People Moves details appointments at Aon and ACORD Solutions Group. A summary of these new hires follows here. Insurance broker Aon plc announced the appointments of Andrew Secker as EMEA chief client officer (CCO) for Reinsurance …
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OCT
24
Trump Plan Would Open Almost All Coast to Offshore Drilling
By:
Admin
on
OCT
24
The Trump administration is readying a proposal to open almost all US coastal waters to new offshore oil drilling despite opposition from state governors and the president’s previous efforts to close off some of the territory. The draft plan for …
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OCT
24
Heat Shock Tips Florida Corals to Extinction
By:
Admin
on
OCT
24
Extreme ocean heat has eradicated two key coral species in Florida from a 350-mile-long reef that protects the state’s coastal cities from storms and provides habitat for fisheries, scientists have found. A record marine heat wave in 2023 killed so …
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OCT
24
French Court Penalizes TotalEnergies for Deceptive Greenwashing Claims
By:
Admin
on
OCT
24
Oil major TotalEnergies misled consumers in a 2021 ad campaign claiming it could become carbon neutral by 2050, a French civil court found on Thursday, in the first decision applying France’s greenwashing law to an energy company. The court ordered …
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OCT
24
Best Agency to Work For – Midwest Region: DSP Insurance Services
By:
on
OCT
24
DSP Doubles Down on Independence by Developing From Within As president of DSP Insurance Services, Taylor Virgil is proud to say that the Schaumburg, Illinois-based agency has taken the road less traveled. At a time when many agencies of its …
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OCT
24
Best Agency to Work For – South Central Region: Higginbotham
By:
Ezra Amacher
on
OCT
24
Higginbotham’s Extraordinary Growth Fueled by Recognizing Talent at Every Level It’s not by accident that Higginbotham continually finds itself on the shortlist of best independent insurance agencies to work for. The Fort Worth, Texas-based firm is intentional about every aspect …
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OCT
24
World’s Largest Retirement Community Taps Muni Market to Help Build More Homes
By:
Admin
on
OCT
24
The largest retirement community in the world is expanding even further with a nearly $130 million high-yield debt deal. The Villages, a 57,000-acre Floridian megaplex, already part of the fastest-growing metropolitan area in the US, plans to tap municipal-bond investors …
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OCT
24
More Flights Delayed Due to Air Traffic Control Staffing Issues
By:
Admin
on
OCT
24
Air traffic control staffing issues are delaying travel at airports in New York, Washington, Newark and Houston, the Federal Aviation Administration said late on Thursday, as a U.S. government shutdown hit its 23rd day. The FAA was reporting staffing issues …
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OCT
24
Markets/Coverages: Coalition Launches Excess Cyber Insurance in Quebec
By:
on
OCT
24
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it is offering Excess Cyber Insurance policies in Quebec along with a refreshed Excess offering across Canada. The refreshed Excess offering will enable Canadian businesses, now including those …
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OCT
24
Rivian Agrees to Pay $250 Million to Settle IPO Fraud Lawsuit
By:
Admin
on
OCT
24
Rivian has agreed to settle a 2022 class-action lawsuit by paying $250 million to some shareholders who had alleged the electric vehicle maker defrauded investors over vehicle prices when it went public, according to a court filing on Thursday. The …
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OCT
24
EU’s New Sanctions Boost Allies’ Push to Hit Russian Energy
By:
Admin
on
OCT
24
The European Union adopted a new package of sanctions targeting Russia’s energy infrastructure, building on new US and UK moves to chip away at Moscow’s ability to wage its war against Ukraine. The EU measures will ban LNG imports from …
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OCT
24
Apple Loses Landmark UK Lawsuit Over App Store Commissions
By:
Admin
on
OCT
24
Apple abused its dominant position by charging app developers unfair commissions, a London tribunal ruled on Thursday, in a blow which could leave the U.S. tech company on the hook for hundreds of millions of pounds in damages. The Competition …
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OCT
24
People Moves: CRC Group Names New Team Members in Specialty Division; Howden US Appoints Hanback EVP
By:
on
OCT
24
CRC Group Names New Team Members in Specialty Division CRC Group, headquartered in Birmingham, Alabama, added three new professionals to its CRC Specialty division. Ryan Degale rejoins CRC Specialty as a broker based in Orlando with the Boca Raton, Florida …
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OCT
24
Growth Momentum Continues for Program Business: TMPAA
By:
on
OCT
24
The program business sector is growing at a rate that outpaces the broader commercial insurance market. Between 2010 and 2020, the program business sector grew from $17.5 billion in commercial insurance revenue to $53.8 billion. In 2024, premium volume climbed …
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OCT
24
Waymo to Manually Test Autonomous Vehicles at Newark Airport
By:
on
OCT
24
Alphabet’s Waymo said on Wednesday it will begin manual testing of its autonomous vehicles at Newark Liberty International Airport, as the firm looks to bring its robotaxis to one of the three main airports serving the New York City area. …
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OCT
24
Trucking App Trucker Path Launches Retail Insurance Agency
By:
Allen Laman
on
OCT
24
The company behind a trucking navigation app has launched its own insurance agency. Earlier this month, Trucker Path announced the launch of its in-house, digitally enabled retail agency focused exclusively on trucking insurance. Trucker Path Insurance debuted with a $7 …
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OCT
24
Conservative Activist Sues Google Over AI-Generated Statements
By:
Admin
on
OCT
24
Conservative activist Robby Starbuck sued Google on Wednesday, alleging the tech giant’s artificial intelligence systems generated “outrageously false” information about him. Starbuck said in the lawsuit, filed in Delaware state court, that Google’s AI systems falsely called him a “child …
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OCT
24
University of Virginia Strikes Deal to Avoid Trump Investigations, Protect Funding
By:
Admin
on
OCT
24
The University of Virginia has agreed to abide by White House guidance forbidding discrimination in admissions and hiring, becoming the latest campus to strike a deal with the Trump administration as the college tries to pause months of scrutiny by …
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OCT
24
Illinois Department of Insurance Asks Insurers for Policyholder Relief During Shutdown
By:
on
OCT
24
The Illinois Department of Insurance is asking insurers to provide relief to policyholders impacted by the federal government shutdown and ensure that they do not lose insurance coverage, including a moratorium on cancellations. “The lapse in federal appropriations since October …
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OCT
24
Pritzker’s Illinois Wins 10th Rating Upgrade as Reserves Climb
By:
Admin
on
OCT
24
Illinois, the worst-rated U.S. state, received a one-notch upgrade from Moody’s Ratings for its rising reserves and improving finances. Moody’s raised the state’s rating to A2, five steps above junk, from A3, with a stable outlook, according to a report …
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OCT
24
Major Investor for Louisiana LNG as Construction Ramps up
By:
Admin
on
OCT
24
Australia’s Woodside Energy has enlisted U.S.-based Williams as an investor and pipeline operator of its Louisiana liquefied natural gas plant, to tap its infrastructure experience and ease cost pressures as construction ramps up. Under the arrangement, Williams will get a …
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OCT
24
TWIA Committee Recommends Method for Determining PML for 2026 Storm Season
By:
on
OCT
24
The Texas Windstorm Insurance Association’s Actuarial & Underwriting Committee has developed a recommendation to the TWIA board on a method to determine the association’s 1-in-50 probable maximum loss for the 2026 storm season. The 1-in-50 PML is TIWA’s minimum required …
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OCT
24
Why Two Montana Asbestos Victims May Never Receive an $8M Judgment
By:
Admin
on
OCT
24
Long before she joined a major legal case for asbestos victims, Joyce Walder had a bold streak, according to her sister, Judith Hemphill. On a recent Monday in October, walking through the forests of northwest Montana, Hemphill recalled how she …
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OCT
23
Trump Cancels San Francisco Crackdown After Benioff, Huang Calls
By:
Admin
on
OCT
23
President Donald Trump said he’s calling off the deployment of federal troops to San Francisco after speaking to billionaires Marc Benioff and Jensen Huang, as well as the city’s mayor, Daniel Lurie. “Friends of mine who live in the area …
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OCT
23
Louisiana Drafting Rules for Up to 30% Premium Discounts for FORTIFIED Homes
By:
on
OCT
23
The Louisiana Department of Insurance announced it is in the process of drafting new rules on premium discounts for homes that meet some of the toughest wind-resistant construction standards. A statute approved by Louisiana lawmakers in 2023 mandates that homeowner …
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