Live Insurance News

International Industry Leaders Convene at Global Insurance Symposium

June 4, 2023 PR Article

The premier three-day event featured industry-shaping insights for attendees The 2023 Global Insurance Symposium brought together industry and regulatory leaders from around the world for three days of collaboration, networking and learning in Des Moines, Iowa, – the hub of the US insurance industry. With the theme of “Thriving in a Changing World,” 500 attendees participated in relevant panels, networking opportunities, breakout sessions and more, gaining valuable insight and direction. “The Global Insurance Symposium offered industry expert speakers and attendees the ideal setting for collaborative efforts as we to continue…

2023 Global Insurance Symposium Announces Event Headliners

March 3, 2023 PR Article

Des Moines, Iowa, March 3, 2023: International leaders in insurance, technology and government will convene at the 2023 Global Insurance Symposium, to be held in Des Moines, Iowa, on April 18-20. The Symposium’s speakers and panelists will offer industry-shaping insights on new ideas and challenges facing insurance, insurtech and startup companies as well as regulators during this preeminent event. “We are excited to welcome some of the most prominent names and thought leaders within the global insurance industry as headliners at this year’s event,” said Greater Des Moines Partnership President…

NAIC examining insurance industry impact from private equity

March 4, 2022March 4, 2022 Logan B.

A National Association of Insurance Commissioners group is reviewing recent regulatory considerations. The Macroprudential Working Group (MWG) of the National Association of Insurance Commissioners (NAIC) has announced that it is examining the impact on the insurance industry from private equity firms. The MWG recently gave its approval to a “regulatory considerations” list which it will be reviewing. Recently, The MWG gave its approval to a regulatory considerations list. That list will be a part of this new examination. The group has already left comments about it and will be continuing…

Gainsco insurance company to be acquired by State Farm

September 21, 2020September 18, 2020 Nordstrom

Gainsco insurance - business deal - handshake

The acquisition is reported to be for $400 million, according to a news release last week. State Farm and the Dallas-based Gainsco insurance company have come to an agreement in which the former will be acquiring the latter for $400 million. The 98-year-old industry giant has never acquired another insurer in its entire history. The deal will have State Farm purchasing all of the Gainsco insurance company’s stock. The acquired insurer will continue its operation as a separate business. However, in time, the two companies will start the process of…

NAIC to address US insurance industry racism and discrimination

August 4, 2020July 31, 2020 H. Cutner

Insurance industry racism - racial equality - typewriter

A special committee has been formed in order to specifically focus on Race and Insurance. The National Association of Insurance Commissioners (NAIC) has announced that it has created a special committee to address insurance industry racism and discrimination. NAIC is seeking to improve the way its systems and coverage reflect and protect society. “Our regulatory system and insurance in general is a reflection of the society it aims to protect, and while state insurance regulators have worked to eliminate overt discrimination and racism, we all have been increasingly aware that…

US insurance industry isn’t moving away from coal at the rate of EU insurers

December 6, 2019December 5, 2019 Marc

US Insurance Industry - Power plant and wind turbine

A new report determined that insurers in the Unites States are falling behind their European counterparts. Though the number of companies in the US insurance industry that have moved away from coal has doubled this year, a new report shows that American insurers remain far behind those in Europe. Insurance companies in Europe have withdrawn support for coal at a substantially higher rate. The report, called “Insuring Coal No More,” looked at the European and US insurance industry. It scored the two regions for the third consecutive year according to…

State of California takes over control of former Berkshire insurance unit

November 7, 2019November 6, 2019 G. Turner

Berkshire Insurance Unit - Warren Buffett of Berkshire Hathaway

The Department of Insurance said that it never gave its approval to the sale of the company. The California Department of Insurance have seized a former Berkshire insurance unit. The regulators claim that the sale of California Insurance Co. was in violation of state regulations. This is the latest step in the ongoing controversy regarding the sale of the unit. Earlier this week, the California Department of Insurance said that it had not given its approval to the sale of the Berkshire insurance unit with Applied Underwriters, a workers’ compensation…