Insurance

Coalition Releases Cyber Insurance Claims Report Detailing Increased Ransomware Demands in 2021

Tuesday, July 27, 2021 - 1:00pm

SAN FRANCISCO, July 27, 2021 /PRNewswire/ -- Coalition, the leading cyber insurance and security provider, today announced the results of its H1 2021 Cyber Insurance Claims Report. Coalition analyzed claims data through June 2021 from 50,000 customers in the United States and Canada. Coalition's analysis reveals that ransom demands have grown substantially over the past year, smaller companies are increasingly targeted, and cyber criminals continue to take advantage of dislocations in how we work.

Key Points: 
  • SAN FRANCISCO, July 27, 2021 /PRNewswire/ -- Coalition ,the leading cyber insurance and security provider, today announced the results of its H1 2021 Cyber Insurance Claims Report .
  • From the first half of 2020 to 2021, Coalition found that funds transfer fraud (FTF) attacks increased 28% and business email compromise attacks increased 51%.
  • Coalition's H1 2021 Cyber Insurance Claims Report reveals top cyber crime trends, the continued impact of the COVID-19 on cyber risk exposure, and predictions for the state of cyber crime in 2021 and beyond.
  • Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk.

Affordability Declined for Third Month in a Row, According to First American Real House Price Index

Tuesday, July 27, 2021 - 12:00pm

First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the May 2021 First American Real House Price Index (RHPI) .

Key Points: 
  • First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the May 2021 First American Real House Price Index (RHPI) .
  • Housing affordability declined on a year-over-year basis for the third month in a row in May, following a two-year streak of rising affordability, said Mark Fleming, chief economist at First American.
  • The drop in affordability was broadly felt as affordability declined year over year in 49 of the 50 markets we track, said Fleming.
  • The next release of the First American Real House Price Index will take place the week of August 30, 2021 for June 2021 data.

At KindHealth, an Entrepreneurial Team Blends Health Insurance and AI Experience to Solve Coverage Crisis

Tuesday, July 27, 2021 - 12:00pm

"People's expectations are on the rise, and so are the myriad complications related to health insurance," said Pomales, the health insurance veteran.

Key Points: 
  • "People's expectations are on the rise, and so are the myriad complications related to health insurance," said Pomales, the health insurance veteran.
  • In using AI to solve the insurance problem, Pomales and Tomasik determined that this technology could drive health insurance solutions by using AI to better understand customers' needs and provide recommendations for the best insurance plan to fit those needs and budgets.
  • Pomales' experience in health insurance sales and customer support, and deep understanding of the industry's systems, informs KindHealth's thinking of what its AI needs to examine and what paths to follow.
  • KindHealth has helped over 1M people shop, compare, and purchase health insurance plans, collectively saving $5M in health insurance plans.

Franciscan Missionaries of Our Lady Health System Partners with Shields Health Solutions to Enhance Statewide Specialty Pharmacy Services

Tuesday, July 27, 2021 - 11:00am

Franciscan Missionaries of Our Lady Health System (FMOLHS), a leading health care innovator in Louisiana and Mississippi, and Shields Health Solutions, the countrys leading specialty pharmacy integrator and accelerator, announced a partnership that will enhance FMOLHS specialty pharmacy services by lowering costs, expanding treatment options and refining medication management.

Key Points: 
  • Franciscan Missionaries of Our Lady Health System (FMOLHS), a leading health care innovator in Louisiana and Mississippi, and Shields Health Solutions, the countrys leading specialty pharmacy integrator and accelerator, announced a partnership that will enhance FMOLHS specialty pharmacy services by lowering costs, expanding treatment options and refining medication management.
  • As always, our patients and communities were at the forefront of our decision to work with Shields Health Solutions.
  • We are honored to be partnering with Franciscan Missionaries of Our Lady Health System, said Lee Cooper, Shields CEO.
  • The health system is a non-profit, Catholic organization sponsored by the Franciscan Missionaries of Our Lady.

UK Mobile Phone & Gadget Insurance Market 2021: 12.1 Million Adults Covered by Mobile Insurance and 5.7 Million by Gadget Insurance - ResearchAndMarkets.com

Tuesday, July 27, 2021 - 8:26am

This report examines the motivations, experiences and opinions of UK consumers who own mobile phone and/or gadget insurance.

Key Points: 
  • This report examines the motivations, experiences and opinions of UK consumers who own mobile phone and/or gadget insurance.
  • Similar research was run in 2019 for mobile phone customers and the report compares and contrasts findings for mobile phone insurance between 2019 and 2021.
  • This generated 457 individuals who stated that they owned a mobile phone insurance policy and 215 who owned gadget insurance.
  • The report estimates that in 2021 around 12.1 million adults were covered by mobile phone insurance and 5.7 million by gadget insurance.

Beesafe and Compensa, Part of VIG Poland, Collaborate with Akur8 to Transform Their Pricing Process

Tuesday, July 27, 2021 - 8:00am

Akur8 is pleased to announce its collaboration with Beesafe and Compensa, two entities of VIG Poland, to enhance their pricing process.

Key Points: 
  • Akur8 is pleased to announce its collaboration with Beesafe and Compensa, two entities of VIG Poland, to enhance their pricing process.
  • VIG (Vienna Insurance Group) is one of the largest insurance groups in the world and one of the leading insurers in Austria and CEE countries.
  • By collaborating with Akur8 for their motor insurance lines, Compensa will further accelerate their digital transformation, transforming the very core pricing process.
  • Beesafe, a new, fully digital and direct entity created by VIG Poland, will be using Akur8 to launch their new product, leveraging the accelerated time-to-market benefits.

Constellation Brands Announces Full Redemption of 2.700% Senior Notes Due 2022 and 2.650% Senior Notes Due 2022

Monday, July 26, 2021 - 9:30pm

As of July26, 2021, there were $1.2 billion in aggregate principal amount of the notes outstanding.

Key Points: 
  • As of July26, 2021, there were $1.2 billion in aggregate principal amount of the notes outstanding.
  • The redemption price for the notes, payable in cash, will be calculated pursuant to the formula set forth in the supplemental indentures relating to the notes, and will include an expected total make-whole premium of approximately $27million.
  • Constellation Brands is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Mexico, New Zealand, and Italy.
  • Detailed information regarding risk factors with respect to the company are included in the companys filings with the SEC.

Fitch affirms Ohio National’s ratings

Monday, July 26, 2021 - 5:30pm

CINCINNATI, July 26, 2021 (GLOBE NEWSWIRE) -- Ohio National Financial Services announced that Fitch Ratings has affirmed ratings for the financial strength of The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation at ‘A-’ with stable outlook.

Key Points: 
  • Fitch views Ohio National as well positioned in its primary markets of life, disability and fixed annuities
    CINCINNATI, July 26, 2021 (GLOBE NEWSWIRE) -- Ohio National Financial Services announced that Fitch Ratings has affirmed ratings for the financial strength of The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation at A- with stable outlook.
  • According to Fitch, insurers rated with a category have high credit quality and are subject to low credit default risk.
  • Further supporting Ohio Nationals strong capitalization is the company's reported NAIC risk-based capital (RBC) which is consistent with the 'aaa' category.
  • Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation.

Property & Casualty Insurers’ Q1 Net Income Grows, Profitability Ratios Worsen

Monday, July 26, 2021 - 1:30pm

Insurers net income after taxes increased to $20 billion in the first quarter of 2021, from $17.9 billion in the first quarter of 2020.

Key Points: 
  • Insurers net income after taxes increased to $20 billion in the first quarter of 2021, from $17.9 billion in the first quarter of 2020.
  • Insurers experienced $16.3 billion in net catastrophe LLAE for the quarter, up sharply from $6 billion in the first quarter of last year.
  • Representing nearly 60 percent of the U.S. property casualty insurance industry, the American Property Casualty Insurance Association (APCIA) promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers.
  • APCIA represents the broadest cross section of home, auto, and business insurers of any national trade association.

Ryan Specialty Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares

Monday, July 26, 2021 - 9:10pm

Ryan Specialty Group Holdings, Inc. (Ryan Specialty) today announced that the underwriters of the previously announced initial public offering of 56,918,278 shares of its Class A common stock exercised their option to purchase an additional 8,537,742 shares of Class A common stock from Ryan Specialty at the initial public offering price of $23.50 per share, less underwriting discounts and commissions.

Key Points: 
  • Ryan Specialty Group Holdings, Inc. (Ryan Specialty) today announced that the underwriters of the previously announced initial public offering of 56,918,278 shares of its Class A common stock exercised their option to purchase an additional 8,537,742 shares of Class A common stock from Ryan Specialty at the initial public offering price of $23.50 per share, less underwriting discounts and commissions.
  • Including the exercise of the over-allotment option, Ryan Specialty has issued a total of 65,456,020 shares, for gross proceeds of approximately $1.54 billion before deducting underwriting discounts and commissions.
  • Upon completion of the initial public offering and the consummation of the underwriters option to purchase additional shares and the application of the proceeds therefrom as described in the final prospectus, there will be 109,903,867 shares of Class A common stock outstanding.
  • The shares are listed for trading on the New York Stock Exchange under the symbol RYAN.