FGH Parent, L.P., the ultimate parent company of Bermuda’s largest multi-line reinsurer (together with its subsidiaries, “Fortitude Re”), today announced the acquisition of Plans’ Liability Insurance Company, an Ohio-domiciled and widely licensed property & casualty insurer. This acquisition enables Fortitude Re to provide enhanced transactional flexibility and … [Read more...] about Fortitude Re Acquires U.S. Property & Casualty Insurer
Regulatory
Milliman estimates $9.3 billion in federal black lung liabilities
Federal black lung claims are different from other workers’ compensation claims because they involve multiple potential payers, undergo a complex adjudication process, and exhibit considerably longer reporting and payment lags. The Government Accountability Office (GAO) has estimated the deficit of the federal government’s Black Lung Disability Trust Fund (Trust Fund).1 To our … [Read more...] about Milliman estimates $9.3 billion in federal black lung liabilities
Oklahoma Insurance Department Announces Inaugural Captive & Insurance Business Transfer Conference in August
OKLAHOMA CITY – Risk managers, business owners, regulators, financial executives and insurance professionals are invited to attend the Oklahoma Insurance Department’s (OID) first Captive & Insurance Business Transfer (IBT) Conference in Oklahoma City. The event will be held at the Omni Oklahoma City Hotel on August 24-25. This two-day conference will provide in-depth … [Read more...] about Oklahoma Insurance Department Announces Inaugural Captive & Insurance Business Transfer Conference in August
IRLA Congress has broader legacy on the agenda
Delegates are heading to Brighton for the Insurance and Reinsurance Legacy Association (IRLA) congress 2022 today and Steven Goate, explains that the market is growing and there is highly likely more to come. It came as little surprise that this year’s IRLA Congress sold out within a fortnight. The legacy market continues to grow and with changes to regulation around the … [Read more...] about IRLA Congress has broader legacy on the agenda
The End of ‘Bellefonte’: ‘Global Re’ and the Proper Reading of Facultative Reinsurance Contracts
In late December 2021, the U.S. Court of Appeals for the Second Circuit issued a blockbuster decision grappling with the Erie doctrine, stare decisis, and overturning a decades-old precedent. It was the fourth appellate decision in a lengthy litigation reminiscent of Dickens’ Bleak House. This was not litigation about constitutional rights or environmental justice, but a case … [Read more...] about The End of ‘Bellefonte’: ‘Global Re’ and the Proper Reading of Facultative Reinsurance Contracts
