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Jamaica Catastrophe Bond Headed for Full Payout After Hurricane, World Bank Says

Article 0 Comments Investors in Jamaica’s catastrophe bond now face a 100% payout after Hurricane Melissa set off a full trigger event, according to the World Bank. Jamaica’s $150 million cat bond, which was arranged by the World Bank, is designed to provide funds to pay for only the most extreme weather events and is in addition to other layers of insurance the island has arranged. The last time a weather-related cat bond paid out in full was in connection with Hurricane Ian in 2022, when several bonds suffered a 100% loss in principal, according to Artemis, a data provider specialized in insurance-linked securities. “The payout underscores the role of catastrophe bonds in effective risk management strategies and their efficiency in transferring disaster risks to capital markets,”Jorge Familiar,World Bank vice president and treasurer,said in a statement on Friday. Read more: Jamaica Catastrophe Bond Has Now Triggered, Government Says Jamaica, which the World Bank estimates is the third most-exposed country to natural catastrophes, is also set to get coverage in the form of pre-arranged credits and parametric insurance. Its cat bond sits at the top of the insurance tower. Hurricane Melissa became the most powerful storm on record to strike Jamaica...

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People Moves: MMA Appoints Balentine as President of National Business Insurance

Article 0 Comments Adam Balentine Marsh McLennan Agency (MMA), headquartered in White Plains, New York, appointed Adam Balentine as President of National Business Insurance. Based in Kansas City, Missouri, Balentine leads the development of strategic growth initiatives for MMA’s property and casualty business, oversees the national claims group and manages specialized risk practices, proprietary products and programs. With almost two decades of experience in the industry, Balentine has previously served as national director of commercial lines growth and strategy at Risk Strategies Company, as well as several years in client-facing positions at Lockton Companies. Topics Commercial Lines Business Insurance Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. Interested in Business Insurance? Get automatic alerts for this topic.

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Explosion at Mississippi Chemical Plant Causes Ammonia Leak, Evacuations

Article 0 Comments An explosion at a hydrogen and nitrogen product manufacturer in Mississippi on Wednesday caused an ammonia leak and forced nearby residents to evacuate, officials said. Mississippi Gov. Tate Reeves said in a post on the social platform X that emergency officials from across the state were responding to the anhydrous ammonia leak at CF Industries’ plant north of Yazoo City. No deaths or injuries have been reported, he said. “Thank you to all of Mississippi’s first responders and emergency managers for quickly responding to the leak,” he said. Photos and video posted online show a large plume of yellowish smoke rising above the facility, which includes an ammonia plant and four nitric acid plants, among other things. The facility is able to store about 48,000 tons of ammonia, although the exact amount there when the explosion took place was not immediately clear. CF Industries said in a statement that there are no injuries, and “all employees and contractors on site at the time of the incident have been safely accounted for.” Andre Robinson, who lives about a half-mile (800 meters) from the facility, said he and his son were getting ready to make gumbo when he heard...

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Is Regulation by Enforcement Dead Under Atkins?: SEC Roundup

Video November 07, 2025 at 10:55 AM [embedded content]Welcome to SEC Roundup, a bimonthly video series by former Securities and Exchange Commission senior trial counsels Nick Morgan and Tom Zaccaro, founders of the nonprofit advocacy group Investor Choice Advocates Network. The SEC’s enforcement activity has slowed to a crawl. In the first half of fiscal year 2025, the SEC filed 362 cases. In the second half? Only 144. The typical September surge of 200-plus enforcement actions to close out the fiscal year was a mere 47. Why the “unprecedented slowdown”? Hosts Morgan and Zaccaro are joined by Dr. Jan Jindra and Dr. Adrienna Huffman, two former SEC financial economists now with the Brattle Group. They dive into their new report, which analyzes the numbers behind the dramatic policy shift from the Gensler-led Commission to the new Atkins administration. Together, they break down: The “Unprecedented” Data: Just how sharp the drop in enforcement has been, particularly in the second half of the fiscal year. The End of “Regulation by Enforcement”: Why headline-grabbing cases related to crypto, “shadow trading,” and expanding the “securities dealer” definition have vanished from the docket. The “Return to Basics”: The group’s prediction that the SEC’s new focus...

Coalition Launches Active Privacy Protection for Wrongful Collection 0

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Coalition Launches Active Privacy Protection for Wrongful Collection

Policyholders and brokers can now view Privacy Risk insights in Cyber Risk Assessments and Coalition Control® to better understand potential data privacy exposures Company releases The State of Web Privacy report, the cyber insurance industry’s first comprehensive analysis of wrongful collection claims San Francisco, CA (Nov. 5, 2025) — Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, is pleased to introduce Active Privacy Protection, a comprehensive suite of product enhancements, coverage benefits, and industry-first research that applies Coalition’s revolutionary approach to cyber risk management to privacy. Now, in addition to benefitting from existing wrongful collection coverage via Coalition’s Active Cyber Policy,† policyholders and brokers can receive Privacy Risk insights within Coalition’s Cyber Risk Assessments. These customized insights reveal potential privacy exposures on businesses’ websites, including high-risk tracking technologies, missing consent mechanisms, and possible gaps in privacy policies. Privacy Risk insights are also available in Coalition’s cyber risk management platform, Coalition Control, providing a holistic picture of both cyber and privacy risk postures in a single place. “Coalition’s Active Insurance has already demonstrated that complete cyber protection comes not only from financially covering losses, but also from helping policyholders prevent them in the first...

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Collision Engineering Program Coming to LA to Address Repair Gap

Article 0 Comments The Collision Engineering Career Alliance partnered with El Camino College in Torrance, California to launch a collision engineering program. The aim is to help fill the more than 100,000 job openings expected through 2028 in the field. The two-year associate degree program is designed around a hybrid, work-based learning model. Students rotate every eight weeks between classroom instruction and paid apprenticeships at collision repair facilities. The model provides students the opportunity to earn an income while completing their training. El Camino College’s Auto Collision Repair and Painting department offers the Automotive Service Excellence test prep and entry-level certification testing and a class series in insurance investigation. The Collision Engineering Career Alliance is a 501(c)(3) nonprofit organization that works to unite industry and education, remove barriers and foster sustainable pathways to collision repair careers. Program enrollment begins in May 2026, with classes beginning in August of that year. Topics Auto Louisiana Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy....

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FPA Revamps 4 Annual Conferences for 2026

/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.

Is Canada’s growing regulatory burden holding the economy back? 0

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Is Canada’s growing regulatory burden holding the economy back?

New report shows 81% increase in regulatory compliance costs at a time when Canada grapples with dragging productivity — By Insurance Bureau of Canada (IBC) — Regulatory compliance costs across Canada’s property and casualty (P&C) insurance sector have surged by 81% since 2022, according to a new Regulatory Compliance Cost Survey by Insurance Bureau of Canada (IBC). That’s nearly 13 times the rate of inflation and six times greater than the industry’s own revenue growth. The survey reflects input from 24 of IBC’s member companies, representing 61% of the Canadian P&C market, and covers calendar years 2022–2024.[1] Key findings include: Total regulatory compliance costs reached $753 million in 2024, up from $416 million in 2022 – an 81% increase over just two years. Respondents said they expect costs to go up further in 2025. Internal labour accounted for nearly three-quarters of total costs, including a 26% increase in full-time employees required to comply with growing regulatory pressures. Insurers continue to spend significant time on both federal and provincial compliance requirements. The largest share – 40% – was spent with respect to compliance requirements of the federal solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI). “As Canada grapples with...

Guidewire Unveils PricingCenter, a Unified Pricing and Rating Application to Accelerate Product Innovation for P&C Insurers 0

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Guidewire Unveils PricingCenter, a Unified Pricing and Rating Application to Accelerate Product Innovation for P&C Insurers

PricingCenter revolutionizes insurance pricing and rating by increasing efficiency, improving accuracy, and speeding time to market Waterloo, ON (Oct. 28, 2025) – Guidewire is proud to introduce PricingCenter, enabling P&C insurers to deliver pricing changes quickly and with greater precision – adjusting rates in real time, analyzing impact before release, and responding rapidly to market shifts. Purpose-built for actuaries, pricing teams, and IT developers, PricingCenter unifies and modernizes the pricing and rating lifecycle, from model design to market deployment. By connecting pricing strategy to execution, it helps insurers stay agile, improve accuracy, and accelerate new product launches. “With PricingCenter, market disruptions become opportunities to innovate,” said Mike Rosenbaum, Chief Executive Officer, Guidewire. “By unifying pricing and rating, P&C insurers can model, test, and deploy updates faster, enabling them to accelerate product innovation and confidently drive profitable growth.” PricingCenter speeds time to market for pricing, unlocking profitable business growth by: Unifying pricing and rating into a single application that eliminates silos between actuarial, pricing, and IT teams Providing end-to-end lifecycle management from model design and testing to rapid, governed deployment Enabling actuaries and pricing teams to build, test, and deploy advanced pricing models quickly using a no-code interface with AI-assisted insights...

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Lemonade Books Q3 Net Loss of $37.5 Million

Article 0 Comments Insurtech Lemonade reported a third quarter 2025 net loss of about $37.5 million compared with a loss of $67.7 million a year ago during the same time. Revenue and gross profit increased 42% and 113%, respectively, versus Q3 2024. However, operating expense increased $16.7 million, or 13%, to $141.2 million. Now at nearly $1.2 billion, in force premium grew 30% in Q3. The New York-based insurer of car, home, renters and pet insurance said the use of artificial intelligence has resulted in a “near tripling of claims handling efficiency.” The loss adjustment expense ratio—the cost of handled claims divided by gross earned premium—was reduced to 7% in Q3. The company said it expects to cut the LAE ratio in half. “We have demonstrated our ability to transform claims handling expense, long considered a variable expense in insurance, to a near fixed expense,” Lemonade said in a letter to shareholders. Lemonade said its car product continued to grow ahead of its schedule, with in force premium at $163 million at Q3, or about 40% growth year over year. After nine months Lemonade has booked a net loss of $143.8 million compared with a net loss of $172.2 million...