Insurance Journal

OCTOBER 10, 2024

property/casualty insurers, affecting underwriting margins and earnings. Insurers And … S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. In a report titled “Hurricane Milton: The Implications For Rated U.S.

Insurance 101

Insurance 101

Insurance Journal

AUGUST 11, 2024

PCF Insurance Services acquired the insurance business of DLD Insurance Brokers in Irvine, California. DLD Insurance Brokers specializes in serving companies in the construction, real estate, manufacturing, medical device and technology sectors. PCF Insurance Services is headquartered in Lindon, Utah, …

Insurance 94

Insurance Real Estate Manufacturing Construction 94

Insurance Journal

AUGUST 6, 2024

HPM Insurance of Amherst, New Hampshire reports it has acquired Insurance Savers Agency, a personal and commercial lines agency with offices in the towns of Littleton and Thornton. The purchase of Insurance Savers Agency expands the footprint of HPM Insurance …

Insurance 92

Insurance 92

Insurance Journal

OCTOBER 9, 2024

Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar actions in Hurricane Milton claims. “Any move …

Insurance 107

Insurance 107

Insurance Journal

OCTOBER 11, 2024

Inszone Insurance Services announced its acquisition of San Antonio Insurance Services, Texas-based agency known for its strong focus on trucking insurance and a broad array of property and casualty solutions. Founded in 2012 as a mother-daughter agency, San Antonio Insurance …

Insurance 69

Insurance 69

Insurance Journal

OCTOBER 9, 2024

Hub International Limited (Hub) and WestStar Bank (WestStar), the leading community financial institution in the Borderplex Region, jointly announced the sale of the assets of WestStar Insurance Agency, Inc. WestStar Insurance) by WestStar to Hub. Terms of the transaction were …

Insurance 77

Insurance 77

Insurance Journal

SEPTEMBER 26, 2024

Safeco Insurance, a Boston-based Liberty Mutual Insurance company, said it has entered into a book transfer agreement with Columbia Insurance Group, a Central and Midwest regional carrier. Under the agreement, mutual insurer Columbia will transfer its entire personal auto and …

Insurance 105

Insurance 105

Insurance Journal

SEPTEMBER 15, 2024

EverPeak Insurance is launching operations in Arizona. EverPeak workers’ comp insurance is written on Attune, which has more than 400 class codes that enable agents to … EverPeak specializes in workers’ compensation coverage for small businesses and those in hard-to-place industries.

Insurance 97

Insurance 97

Insurance Journal

AUGUST 30, 2024

Main Street America Insurance said Thursday it will stop offering personal lines insurance in favor of a commercial lines strategy. The Jacksonville, Florida-based insurer founded about 100 years ago in Keene, New Hampshire said it is “tightening” its focus and …

Insurance 115

Insurance 115

Insurance Journal

OCTOBER 3, 2024

Kingfisher Insurance Services Ltd., the London-based specialist insurance broker, has acquired MIS Motorsport’s commercial business in the UK and Ireland. Financial details of the transaction were not disclosed. As part of the acquisition, a new entity will be created called …

Insurance 100

Insurance 100

Insurance Journal

OCTOBER 8, 2024

A new report from insurance broker Aon reveals that the prospective return on equity (ROE) for diversified homeowners insurance carriers decreased by 100 basis points to 5.0% from last year’s ROE, despite carriers receiving significant rate increases in 2023/2024. More …

Insurance 114

Insurance 114

Insurance Journal

OCTOBER 7, 2024

The head of one of the largest private flood insurance writers this week questioned an A.M. “From 2020 through 2022, private insurers … Best report that said private flood companies are failing to make significant inroads in America’s troubled flood market.

Insurance 99

Insurance 99

Insurance Journal

OCTOBER 10, 2024

Michael Vecchio, age 50, of Sioux Center was charged with one count of Insurance Fraud – Presenting False Information (Class D Felony) and Todd Meendering, age 61, of Boyden was charged with one count of Insurance Fraud – Conspiracy (Class …

Insurance 72

Insurance 72

Insurance Journal

SEPTEMBER 26, 2024

insurance rates. A new article directly blames climate change for rising U.S. While the article mulls the various and numerous reasons for rising rates, it calls out what the author sees as a “common thread” that ties in rising rates …

Insurance 123

Insurance 123

Insurance Journal

OCTOBER 4, 2024

Caljouw as state’s new insurance commissioner. Caljouw comes to DOI with 33 years of experience in insurance law and policy in the state, including most recently as government affairs vice … Massachusetts Governor Maura Healey announced the appointment of Michael T.

Insurance 89

Insurance 89

Insurance Journal

OCTOBER 2, 2024

British holiday group Saga said on Wednesday that it is in talks with Belgian insurer Ageas for a potential partnership for its insurance business. Saga, which specializes in holidays and insurance for people over 50, has been struggling with its …

Insurance 95

Insurance 95

Insurance Journal

SEPTEMBER 17, 2024

Chubb, AIG, and Amica lead other insurers in J.D. Power’s assessment of customer satisfaction for home insurance, but the consumer intelligence company said more people are shopping around. The good news for insurers is that only 2.2% actually switched—and that’s …

Insurance 116

Insurance 116

Insurance Journal

JULY 16, 2024

Insurance broker World Insurance Associates announced that it recently acquired the business of Affiliated Insurance Managers (AIM) of Warwick, Rhode Island. Today the agency is primarily focused on commercial lines, while also providing insurance to … AIM was founded in 1937.

Insurance 89

Insurance 89

Insurance Journal

SEPTEMBER 26, 2024

Alera Group announced the acquisition of Insurance Underwriters Ltd., a Louisiana-based insurance agency offering risk management and insurance solutions including business insurance, surety bonds, personal insurance and employee benefits.

Insurance 90

Insurance 90

Insurance Journal

OCTOBER 10, 2024

A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel bookings, insurance sources and a broker said on Thursday. Russian ballistic …

Insurance 86

Insurance 86

Insurance Journal

OCTOBER 9, 2024

Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies’ shares, analysts at RBC Capital said. The Category 5 hurricane is due to …

Insurance 113

Insurance 113

Insurance Journal

OCTOBER 7, 2024

Inszone Insurance Services acquired Schmoekel Insurance Agency Inc. Founded in 1948 by Max Schmoekel, Schmoekel Insurance Agency was initially known as a non-standard insurance agency, specializing in finding coverage for high-risk clients. in Sacramento, California. In the early 1960s, Max’s …

Insurance 65

Insurance 65

Insurance Journal

OCTOBER 9, 2024

Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory …

Insurance 82

Insurance 82

Insurance Journal

OCTOBER 9, 2024

An insurance broker who collected nearly $137,000 in sales commissions by submitting fabricated insurance applications for end-of-life insurance policies in clients’ names without their knowledge, and used those clients’ personal and banking information to pay for those policies, was sentenced …

Insurance 75

Insurance 75

Insurance Journal

AUGUST 9, 2024

Insurers face millions of dollars in claims after a foiled attack forced three Taylor Swift concerts in Austria to be canceled, though several providers will share out the hit, two people involved in insurance for her tour told Reuters. The …

Insurance 121

Insurance 121

Insurance Journal

OCTOBER 2, 2024

The Louisiana of Department of Insurance (LDI) is warning residents to be cautious of online scams related to Hurricane Francine insurance claims. The LDI has detected an increase in online advertising activity related to Hurricane Francine, some of which attempts …

Insurance 91

Insurance 91

Insurance Journal

SEPTEMBER 26, 2024

Inszone Insurance Services acquired First West Insurance Agency in Huntington Beach, California. Originally established in 1968 as Shearer Insurance, the firm merged in 1979 with First West Insurance Agency. Owners Phil and Kristen Shearer will remain on board for a …

Insurance 81

Insurance 81

Insurance Journal

SEPTEMBER 6, 2024

New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition. The report laid out dozens of potential financial improprieties and accounting problems at …

Insurance 121

Insurance 121

Insurance Journal

AUGUST 8, 2024

California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …

Insurance 119

Insurance 119

Insurance Journal

SEPTEMBER 26, 2024

Markel, the insurance operations within the Markel Group Inc., has launched an enhanced insurance proposition tailored to meet the evolving needs of the UK’s growing tech sector. The enhanced product, MarkelTech, is aimed at start-ups, small-and-medium-sized businesses, mid-market and high-growth …

Insurance 99

Insurance Technology 99

Insurance Journal

SEPTEMBER 19, 2024

California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for 750,000 policyholders affected by the Airport, Bridge, and Line fires in the counties of Orange, Riverside, Los Angeles, and San Bernardino.

Insurance 101

Insurance 101

Insurance Journal

OCTOBER 11, 2024

one of Australia’s largest coal producers, shelved a planned special purpose vehicle originally intended to provide in-house insurance after finding external insurers willing to take on the risk. Whitehaven Coal Ltd., The development follows Sydney-based Whitehaven’s $3.2 billion purchase of …

Insurance 69

Insurance 69

Insurance Journal

OCTOBER 8, 2024

who now works for billionaire climate investor Tom Steyer, says commercial real estate deals will increasingly need to price in rising insurance costs, as hurricane seasons get more destructive … Joseph Sumberg, a former managing director at Goldman Sachs Group Inc.

Real Estate 95

Real Estate Insurance 95

Insurance Journal

AUGUST 14, 2024

British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday it remained confident of meeting its 2026 targets. The life and general insurer, whose main businesses are in …

Insurance 96

Insurance 96

Insurance Journal

SEPTEMBER 29, 2024

Inszone Insurance Services acquired ISU Francis-Pinney Insurance Services Inc. ISU Francis-Pinney Insurance Services evolved through several mergers, including All-Cal Insurance and the John A. Sacramento, California-based Inszone is an insurance brokerage firm that provides property/casualty insurance …

Insurance 76

Insurance 76

Insurance Journal

SEPTEMBER 24, 2024

A much higher percentage of insurance chief executives say that generative AI is a top investment priority for their firms than peers in other industries, according to a survey report published by professional services firm KPMG. Roughly eight-in-10 insurance CEOs—81 …

Insurance 99

Insurance 99

Insurance Journal

OCTOBER 10, 2024

Six months after a three-judge panel of the Delaware Supreme Court said an insurance agency deserved another shot at proving its claims of professional negligence against a law firm, the full state high court has agreed. On October 8, the …

Insurance 91

Insurance 91