Insurance Journal

NOVEMBER 18, 2024

The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. Th regulation is intended to strengthen the state’s insurance law, Proposition 103, by establishing coverage commitments from insurance companies …

Insured 264

Insured Insurance Insurer Insurance Companies 264

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 …

Insured 276

Insured Insurance Insurer Commercial 276

Insurance Journal

SEPTEMBER 30, 2024

Estimates of insured losses from Hurricane Helene continue to range around $5 billion, not including flood insurance losses, as the death toll in the Southeast continued to rise, approaching 100 by Monday morning. In Florida, the state Office of Insurance …

Insured 306

Insured Insurance Insurer 306

Insurance Journal

OCTOBER 1, 2024

Crest Insurance Group acquired Alliance Insurance Agency LLC in Colorado. Crest’s Colorado operations center around its Denver hub and expand to Longmont and Fort Collins. The Alliance deal adds Arvada to the footprint and adds 20 employees to the Crest …

Insurance Agency 264

Insurance Agency Insured Insurance Insurer 264

Insurance Journal

NOVEMBER 15, 2024

Oklahoma Insurance Commissioner Glen Mulready issued a bulletin providing insurers with regulatory guidance on the use of artificial intelligence. The bulletin, which was adopted by the National Association of Insurance Commissioners (NAIC), outlines expectations on the ethical use of AI.

Insured 286

Insured Insurance Insurer 286

Insurance Journal

SEPTEMBER 17, 2024

PCF Insurance Services acquired the insurance business of Top Insurance Associates in Snohomish, Washington. The Top Insurance Associates team will join PCF Insurance’s Fortiphi Insurance.

Commercial Insurance 263

Commercial Insurance Insured Insurance Insurer 263

Insurance Journal

NOVEMBER 12, 2024

Hub International Limited announced that it has acquired the assets of ANCO Insurance Managers, Inc. ANCO Insurance). Headquartered in Bryan, Texas with six additional offices, ANCO Insurance is one of the largest independent … Terms of the transaction were not disclosed.

Insured 245

Insured Insurance Insurer 245

Insurance Journal

SEPTEMBER 27, 2024

the Guernsey-based re/insurance group, announced that Paratus Renewables Insurance Ltd. has been granted regulatory approval by the Guernsey Financial Services Authority (GFSC) to provide insurance cover to the renewable power industry. Paratus said its insurance solutions will … Paratus Holdings Ltd.,

Insured 260

Insured Insurance Insurer 260

Insurance Journal

NOVEMBER 17, 2024

The insurance industry is facing a significant rise in roof-related claims. The combination of increasingly severe weather events, inflation-driven repair costs and the growing issue of roofing scams has created a perfect storm — one that is straining insurer portfolios …

Home Insurance 264

Home Insurance Claim Insurance Industry Insured 264

Insurance Journal

NOVEMBER 20, 2024

KBRA downgraded the insurance financial strength ratings (IFSR) of Oregon Mutual Insurance Co. and its wholly owned subsidiary, Western Protectors Insurance Co. to BBB+ from A-. The outlooks for both ratings remain negative. The downgrades reflect the continued deterioration in …

Insurance Companies 147

Insurance Companies Insured Insurance Insurer 147

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 Broker 277

Insurance Broker Broker Insured Insurance 277

Insurance Journal

NOVEMBER 11, 2024

Inszone Insurance Services acquired Nugent Insurance Brokers LLC in Chico, California. Nugent Insurance will also expand into personal lines by gaining access to Inszone Insurance’s markets … Valerie and Tom Nugent Jr., and Tom Jr.’s ’s daughter, Marissa, will remain with Inszone.

Insurance Broker 238

Insurance Broker Broker Insured Insurance 238

Insurance Journal

NOVEMBER 13, 2024

A North Carolina insurance agent who was penalized by regulators almost 20 years ago has given up her producer license after she was charged with pocketing insurance premiums. Lori Ann Crisp, 56, of Kannapolis, was charged with forgery, embezzlement and …

Insurance Agent 246

Insurance Agent Insurance Agents Agents License 246

Insurance Journal

OCTOBER 30, 2024

Florida-based insurance broker King Risk Partners reports it has acquired Suzio Insurance Center, Inc., an independent insurance agency based in Meriden, Connecticut. Suzio Insurance Center was started in 1974 by the late Franklin Suzio and is currently headed by James …

Risk 277

Risk Insurance Broker Insurance Agency Broker 277

Insurance Journal

OCTOBER 14, 2024

October 15, 2024 – The Risk & Insurance Education Alliance, in collaboration with BrokerTech Ventures (BTV), is proud to introduce its latest educational initiative, the Introduction to Insurance for Insurtech Professionals module. Austin, TX., First announced in June 2024, the …

Risk 264

Risk Insured Insurance Insurer 264

Insurance Journal

NOVEMBER 13, 2024

North American specialty insurance brokerage Risk Strategies reports it has acquired Felsen Insurance Services, Inc., a New Jersey-based agency offering commercial and personal property/casualty insurance. Terms of the deal were not disclosed. Established in 1985, Felsen is based in Denville, …

Risk 257

Risk Casualty Insurance Personal Property Commercial 257

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 Broker 275

Insurance Broker Insured Insurance Insurer 275

Insurance Journal

NOVEMBER 13, 2024

An Iowa couple pleaded guilty to insurance fraud, forgery and theft, the Iowa Insurance Division announced. Des Moines – Lance Seastrand, age 52, and his wife, Staci Seastrand, age 56, of Davenport, were sentenced on October 31, 2024, after pleading …

Theft 246

Theft Insured Insurance Insurer 246

Insurance Journal

NOVEMBER 15, 2024

A large majority of carriers intend to increase or maintain staff sizes in the next 12 months, according to Jacobson’s Q3 2024 Insurance Labor Market Study. While the industry continues to add jobs, the employment growth remains relatively modest, according …

Insurance Industry 261

Insurance Industry Insured Insurance Insurer 261

Insurance Journal

NOVEMBER 7, 2024

ORANGE, CA, November 6, 2024 – CITA Insurance Services and Ascot Insurance Company (Ascot) have partnered to deliver a new real estate agents and brokers error & omissions (E&O) program nationwide. This admitted insurance product was designed to provide professional …

Broker-Agent 243

Broker-Agent Insurance Companies Broker Agents 243

Insurance Journal

NOVEMBER 4, 2024

The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal Emergency Management Agency(FEMA), administrator of the NFIP, said the change was …

Premium 279

Premium Insured Insurance Insurer 279

Insurance Journal

NOVEMBER 21, 2024

Zurich Insurance Group AG set new targets for profitability and profit growth for the next three years, after a better-than-expected market environment put it on track to exceed its existing guidance a year ahead of plan. The insurer pledged to …

Insured 274

Insured Insurance Insurer 274

Insurance Journal

NOVEMBER 21, 2024

joining a raft of investment firms that have been tapping the deep pockets of insurers through such deals. Sanlam, the country’s biggest insurer by … South African asset manager Ninety One Ltd. has agreed to sell a stake to Sanlam Ltd.,

Insured 222

Insured Insurance Insurer 222

Insurance Journal

OCTOBER 3, 2024

An Iowa woman was charged with insurance fraud following an investigation by the Iowa Insurance Division’s Fraud Bureau. Antonia Maddison, age 46, of Sully, was charged with one count of Insurance Fraud – Application Submission (Class D Felony). The charges …

Insured 277

Insured Insurance Insurer 277

Insurance Journal

NOVEMBER 14, 2024

Fidelis Insurance Group, a Bermuda-based global specialty re/insurer, announced a new strategic partnership with Euclid Mortgage Insurance Services LLC, a managing general agency that specializes in underwriting credit risk on portfolios of residential mortgages. Fidelis Insurance Group will provide reinsurance …

Underwriter 243

Underwriter Underwriting Insured Insurance 243

Insurance Journal

NOVEMBER 17, 2024

The insurance industry is in the midst of a digital revolution, with artificial intelligence (AI) at the heart of it. From streamlining claims processing to creating personalized policies, AI has quickly become a vital tool for insurers striving to stay …

Insurance Industry 237

Insurance Industry Insured Insurance Insurer 237

Insurance Journal

AUGUST 6, 2024

In the insurance industry, the term “termination” can refer to a few different things. These occur when an insurance policy runs its course and the … This post is part of a series sponsored by AgentSync. First, there are policy terminations.

Insurance Carrier 240

Insurance Carrier Insured Insurance Insurer 240

Insurance Journal

NOVEMBER 13, 2024

Baloise Holding AG has become one of the most-discussed takeover candidates in the European financial sector, after agitation by an activist investor triggered top industry players to take fresh looks at the Swiss insurer. Zurich Insurance Group AG, AXA SA …

Insured 246

Insured Insurance Insurer 246

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.

Compensation 278

Compensation Insured Insurance Insurer 278

Insurance Journal

NOVEMBER 13, 2024

The Oklahoma Insurance Department is offering assistance to residents affected by the severe storms that hit the state in early November. Tornadoes and severe storms struck Oklahoma Nov. 2-4, injuring at least 11 people and causing damage to homes and …

Damage 244

Damage Insured Insurance Insurer 244

Insurance Journal

NOVEMBER 20, 2024

Florida’s newest legislative leaders on Tuesday rattled some sabers about property insurance rates and claims but offered no agenda for the upcoming session that begins in March, according to state news reports. Incoming Senate President Ben Albritton, R-Wauchula, warned insurers …

Property Insurance 256

Property Insurance Insured Insurance Insurer 256

Insurance Journal

NOVEMBER 15, 2024

North Carolina Insurance Commissioner Mike Causey announced the arrest of David Fitzgerald Bishop Jr., A North Carolina man gas been charged with obtaining property by false pretense and common law forgery, both felonies. of Winston-Salem. According to special agents with …

Insured 245

Insured Insurance Insurer Agents 245

Insurance Journal

NOVEMBER 22, 2024

Weiss Ratings, a Palm Beach Gardens financial ratings firm, sparked some outrage from the Florida insurance industry in recent weeks after it released reports contending that some of Florida’s largest property insurers were closing almost half of their hurricane claims …

Property Insurance 218

Property Insurance Insurance Industry Insured Insurance 218

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 …

Insured 264

Insured Insurance Insurer 264

Insurance Journal

OCTOBER 16, 2024

Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind. Verisk’s Extreme Event Solutions group said the range includes privately insured losses to onshore property …

Damage 331

Damage Insured Insurance Insurer 331

Insurance Journal

NOVEMBER 18, 2024

A construction industry captive insurer along with three construction contractors have filed a lawsuit alleging a massive New York fraud scheme involving staged workplace accidents and bogus workers’ compensation and personal injury lawsuits backed by complicit lawyers and medical providers.

Injury 278

Injury Compensation Claim Insured 278

Insurance Journal

OCTOBER 17, 2024

Unison Risk Advisors (URA) has acquired Enders Insurance, a family-run property/casualty insurance agency based in Harrisburg, Pennsylvania. Enders has more than 60 employees throughout its central Pennsylvania office locations including Lancaster, Reading and Middleburg. Currently led by Andrew Enders, the …

Risk 264

Risk Casualty Insurance Insurance Agency Insured 264