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Deadly US Oil Blast Exposes Risks of Pushing Profits Over Safety
May 17 2024 // The explosion that rocked Marathon Petroleum Corp.’s Galveston Bay oil refinery one year ago trapped Rigoberto Guillen 75 feet in the air. Stranded on a metal platform, he and a colleague crouched low as black smoke...
Fitch Ratings: US Cyber Premium Growth Slows in 2023
May 17 2024 // The U.S. cyber insurance market saw what Fitch Ratings called an unexpected 1% decline in direct written premiums in 2023 following a 160% increase from 2020 to 2022. According to Fitch Ratings’ U.S. Cyber Insurance...
Overall US P/C Combined Ratio Improves in 2023 but Trouble Spots Remain: S&P
May 16 2024 // The U.S. property/casualty industry’s net combined ratio improved in 2023 to 101.7 from 102.5 the prior year, according to S&P Global Market Intelligence. The combined ratio for the industry’s personal...
People Moves: Front Street Re Appoints Fong as CEO; Carmichael Beazley’s New Head of US Cyber
May 16 2024 // Edison Fong Front Street Re, an operating subsidiary of Lexasure Financial Group Limited headquartered in Georgetown, Cayman Islands, appointed Edison Fong as CEO. Before joining Front Street Re, Fong was a director at...
US Senators Unveil AI Policy Roadmap, Seek Government Funding Boost
May 16 2024 // A bipartisan group of U.S. senators, including Majority Leader Chuck Schumer, called on Wednesday for a big jump in government research funding of artificial intelligence as they debate new legal safeguards. Generative...
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