Insurance Journal

OCTOBER 27, 2024

Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …

Commercial 267

Commercial Auto Insurance Underwriter Underwriting 267

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.

Commercial 271

Commercial Risk Insurance Insurer 271

Insurance Journal

AUGUST 6, 2024

All major commercial lines premium renewal rates were higher in July than in June, except commercial property which decreased, according to the latest monthly Ivans Index. Year over year, commercial auto, business owners, general liability, commercial property and umbrella experienced …

Commercial 240

Commercial Commercial Property General Liability Liability 240

Insurance Journal

SEPTEMBER 4, 2024

Trust impacts customer satisfaction, loyalty and brand advocacy more than other factors when small businesses choose a commercial insurance provider. Small Commercial Insurance Study found that among small businesses with the most trust in their insurers, … Power’s 2024 U.S.

Commercial 264

Commercial Business Insurance Commercial Insurance Insurance 264

Insurance Journal

AUGUST 7, 2024

All major commercial lines premium renewal rates were higher in July than in June, except commercial property which decreased, according to the latest monthly Ivans Index. Year over year, commercial auto, business owners, general liability, commercial property and umbrella experienced …

Commercial 236

Commercial Commercial Property General Liability Liability 236

Insurance Journal

OCTOBER 24, 2024

Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …

Commercial Insurance 287

Commercial Insurance Commercial Insurance Insurer 287

Insurance Journal

OCTOBER 3, 2024

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

Broker 271

Broker Commercial Insurance Broker Insurance 271

Insurance Journal

OCTOBER 10, 2024

WTW characterized commercial insurance rates as balances and stable but, as Hurricane Milton approached, the broker warned of upcoming disruption. “The current state of affairs might only be one major hurricane away from being upended, and with Milton knocking on …

Commercial 248

Commercial Commercial Insurance Broker Insurer 248

Insurance Journal

OCTOBER 20, 2024

Overall agent satisfaction with insurers of both personal lines and commercial lines has held strong despite a challenging underwriting environment, says a new J.D. Power study, with commercial lines satisfaction reaching an all-time high. According to the J.D. Power 2024 …

Commercial 162

Commercial Commercial Insurance Agents Underwriter 162

Insurance Journal

AUGUST 15, 2024

A home builder is not covered under the property damage coverage in its commercial liability policy for construction defects for which it was responsible. A three-judge panel of the Massachusetts Appeals Court has held for the first time that “construction …

Property Damage 312

Property Damage Liability Commercial Damage 312

Insurance Journal

OCTOBER 9, 2024

Are you dipping your toes into commercial insurance sales? Well, hold on tight because selling commercial insurance isn’t your run-of-the-mill business. This post is part of a series sponsored by Darkhorse Insurance. To navigate these waters successfully, you can’t just …

Commercial Insurance 147

Commercial Insurance Commercial Insurance Insurer 147

Insurance Journal

JULY 11, 2024

Stacks Insurance Brokerage in Lighthouse Point, Florida, has named Kenny Bordman partner and president of commercial insurance. Bordman has more than a decade in commercial insurance, preceded by years in the U.S. Army and law enforcement, Stacks said in a …

Commercial 236

Commercial Commercial Insurance Insurer Insured 236

Insurance Journal

AUGUST 20, 2024

Commercial property/casualty premium increases in the second quarter 2024 were flat or down from the previous quarter for all lines of business—evidence of a softening insurance market, according to The Council of Insurance Agents & Brokers (CIAB) quarterly survey. Premiums …

Commercial 277

Commercial Commercial Property Broker-Agent Premium 277

Insurance Journal

NOVEMBER 17, 2024

Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …

Commercial 138

Commercial Auto Insurance Underwriter Underwriting 138

Insurance Journal

JULY 21, 2024

Risk Strategies named Troy Bagwell commercial lines leader for the West region. Bagwell, who is based in Los Angeles, is responsible for building and executing the regional strategy for the commercial property/casualty business segment. Bagwell joins Risk Strategies from Panorama …

Commercial 257

Commercial Risk Commercial Property Building 257

Insurance Journal

JULY 12, 2024

In a change in regulatory practice, Connecticut has decided that all commercial lines claims made insurance forms and rates are now subject to full regulatory review. Citing compliance issues, Insurance Commissioner Andrew Mais issued a new bulletin (PC-63-24) on July …

Commercial 271

Commercial Claim Insurer Insured 271

Insurance Journal

NOVEMBER 5, 2024

dba Statewide Commercial Insurance Brokers. Gallagher & Co. acquired Altadena, California-based American Matar International Inc., Lana Matar and her team will remain in their current location under the direction of Scott Firestone, head of Gallagher’s Southwest region retail …

Commercial Insurance 130

Commercial Insurance Insurance Broker Commercial Broker 130

Insurance Journal

NOVEMBER 11, 2024

LP Insurance Services LLC named Travis Reed to its commercial lines team in northern Nevada. Reed has more than 10 years of industry experience, most recently as a sales executive with Alpine Insurance Associates. He previously worked as vice president …

Commercial 208

Commercial Insurance Insurer Insured 208

Insurance Journal

NOVEMBER 7, 2024

Marsh Names Fraser as Int’l Corporate & Commercial Leader Marsh, the insurance broker, risk adviser and Marsh … This edition of International People Moves details appointments at the brokers Marsh and Clear Group. A summary of these new hires follows here.

Commercial 239

Commercial Insurance Broker Broker Risk 239

Insurance Journal

AUGUST 2, 2024

DeCotis Specialty Insurance, headquartered in Providence, Rhode Island, named Jessica Wrigley as director of commercial lines. Wrigley’s responsibilities include overseeing the commercial lines division, managing key customer and carrier relationships, developing new business opportunities and supervising high-value renewals.

Commercial 231

Commercial Insurer Insured Insurance 231

Insurance Journal

OCTOBER 6, 2024

Broker WTW said commercial lines insurance rates increased overall by an average of 5.9% Quarterly price increases have been around 6% since the end of the global pandemic, WTW reported in its Commercial Lines … during the second quarter of 2024.

Commercial Property 130

Commercial Property Commercial Broker Insurer 130

Insurance Journal

JULY 14, 2024

The commercial auto insurance segment maintained its place as a weaker-performing U.S. Despite successive periods of pricing and underwriting actions, commercial auto has generated a statutory combined ratio above 100 in 12 of the … property/casualty insurance product line in 2023.

Auto Insurance 147

Auto Insurance Commercial Casualty Insurance Underwriter 147

Insurance Journal

AUGUST 6, 2024

August 6, 2024 —The Risk & Insurance Education Alliance is proud to announce the launch of its first Certified Insurance Counselor (CIC) self-paced course titled “CIC Commercial Multiline.” Austin, TX., ” Crafted to meet the evolving educational needs of today’s insurance …

Commercial 200

Commercial Risk Insurance Insurer 200

Insurance Journal

JULY 24, 2024

Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024), according to Marsh’s Global Insurance Market Index. The findings mark the first time in nearly seven years – since the …

Commercial Insurance 251

Commercial Insurance Commercial Insurance Insurer 251

Insurance Journal

AUGUST 18, 2024

Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024), according to Marsh’s Global Insurance Market Index. The findings mark the first time since the third quarter of 2017 that …

Commercial Insurance 233

Commercial Insurance Commercial Insurance Insurer 233

Insurance Journal

JULY 17, 2024

Intact Hires Janssens as SVP of West Coast Commercial Surety Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s U.S. insurance company subsidiaries, headquartered in Plymouth, Minnesota, hired Erik Janssens as senior vice president of West Coast Commercial Surety.

Commercial 239

Commercial Insurance Companies Insurance Insurer 239

Central Insurance

JULY 2, 2024

Learn how to navigate Arizona auto insurance for your commercial business by understanding essential coverage types and unique state risks. The post Navigating Arizona Auto Insurance for Your Commercial Business appeared first on Central Insurance Blog.

Auto Insurance 130

Auto Insurance Commercial Insurance Insurer 130

Insurance Journal

AUGUST 21, 2024

Alliant Insurance Services, headquartered in Irvine, California, named Alliant Specialty Senior Vice President Orlando Aguirre as the leader of its newly launched Alliant Commercial Surety. Based in Houston, Aguirre joined Alliant as senior vice president in 2021 and has experience …

Commercial 246

Commercial Insurer Insured Insurance 246

Property Insurance Coverage Law

SEPTEMBER 3, 2024

On February 5, 2019, Opera Block’s owner, Timothy … The post Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement appeared first on Property Insurance Coverage Law Blog.

Commercial 191

Commercial Damage Policy Property Insurance 191

Insurance Journal

OCTOBER 28, 2024

Executive Summary: During the period 2013 through 2018, the U.S. did not become less litigious nor did Atlantic sea surface temperatures get less warm. Yet rates for U.S. excess liability and Atlantic hurricane both reduced, observe the co-founders of UWX.

Underwriter 282

Underwriter Underwriting Commercial Liability 282

Protect Commercial Insurance

NOVEMBER 15, 2024

This is where commercial insurance comes into play. Designed to protect your business from unforeseen risks, commercial insurance can offer the peace of mind you need to focus on what truly matters—growing your business and serving your clients. Types of Commercial Insurance Commercial insurance isn’t just a one-size-fits-all solution.

Commercial Insurance 52

Commercial Insurance Commercial Protection Business Interruption 52

Property Insurance Coverage Law

NOVEMBER 11, 2024

Affiliated FM Insurance Company, the court’s ruling highlighted a critical oversight that left the property owner without standing to sue the insurance … The post Property Managers and Commercial Owners Beware: Insurance Placement Should List the Property Owner as a Named Insured appeared first on Property Insurance Coverage Law Blog.

Commercial 100

Commercial Property Insurance Insurance Insurer 100

Protect Commercial Insurance

NOVEMBER 8, 2024

Introduction Running a business comes with its fair share of expenses, and one of those is commercial insurance. This guide will teach you practical ways to save money on your commercial insurance. However, commercial insurance premiums can sometimes strain your business finances if not managed wisely. The good news?

Commercial Insurance 52

Commercial Insurance Commercial Premium Deductible 52

Mark Jackson Insurance Agency

SEPTEMBER 25, 2024

This is where Commercial Umbrella Insurance comes into play, offering an additional layer of protection to safeguard your business against potentially crippling financial damages. Commercial umbrella insurance kicks in when those limits are reached, providing the extra coverage needed to handle high-cost liabilities.

Commercial Umbrella 52

Commercial Umbrella Commercial Liability Liability Insurance 52

Insurance Journal

JULY 16, 2024

Two recent reports reflect trends in Florida’s property insurance market, including the continued growth of surplus lines’ business and an uptick last year in litigation costs for carriers. The Florida Surplus Lines Service Office reported this week that the admitted …

Commercial 289

Commercial Property Insurance Insurer Insured 289

Triple-I: Business Insurance

OCTOBER 25, 2024

The commercial auto insurance line has struggled to achieve underwriting profitability for years, even before the inflationary conditions that have been affecting property/casualty lines more recently. This trend has been accompanied by steady growth in net written premiums (NWP).

Underwriter 52

Underwriter Underwriting Commercial Auto Insurance 52

Protect Commercial Insurance

OCTOBER 11, 2024

Introduction Climate change isn’t just an environmental buzzword; it’s rapidly becoming a pivotal factor in the world of insurance, especially for commercial properties. These disasters cause exponential damage to commercial properties. For commercial properties near these vulnerable zones, this is a looming nightmare.

Commercial Property 52

Commercial Property Commercial Insurance Policy Policy 52