The Florida Office of Insurance Regulation has issued subpoenas to Weiss Ratings and its founder Martin Weiss for information related to its recent reports about the financial stability of the state’s insurance carriers.

Morgan Stanley analysts have suggested that multiple developments during the third quarter mean the investment thesis for the P&C space has become less clear, with more questions than answers.

The American InsurTech Council (AITC), an independent organisation focused on tech innovation in the insurance industry, has rolled out a proposed consumer protection framework for insurers and vendors deploying artificial intelligence and predictive tools or using third-party data.

Arthur J Gallagher has acquired Shepard Insurance Group, a retail insurance broker based in Old Greenwich, Connecticut.

Florida insurance commissioner Mike Yaworsky has underlined the stability of the state’s property insurance market, pointing to rating upgrades for three Florida special tax bonds.

Geico and Travelers Indemnity Company have been fined $9.75mn and $1.55mn, respectively, for lax data security practices that led to the exposure of 120,000 New Yorkers’ personal information that hackers used to file fraudulent unemployment claims in the Covid-19 pandemic.

Tokio Marine Kiln (TMK) is leading a new $95mn trade disruption insurance facility, launched in collaboration with Convex and McGill and Partners.

Storm Bert, which hit the UK and Ireland over the weekend, has triggered a 60 percent surge in insurance claims, although its impact is more localised than previous storms, according to claims management provider Sedgwick.

Arch Insurance International has appointed Jelle Ouwehand as head of terrorism, political violence and war.

Howden Re has appointed Aon's Thomas Kroely as managing director for continental Europe.