Insurance Journal

DECEMBER 2, 2024

Private equity’s advance into the insurance sector exacerbates the risk of “fire sales” that disrupt the functioning of financial markets, the Bank of England warned. A growing number of PE firms in the US have acquired life insurers, while British …

Risk 286

Risk Life Insurance Insurer Insured 286

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 264

Insurance Companies Insurer Insured Insurance 264

Insurance Journal

DECEMBER 3, 2024

Zurich Insurance Group said Tuesday its acquisition of American International Group’s global personal travel insurance business is complete. Zurich said the acquisition of AIG’s personal travel insurance and assistance business, including Travel Guard, for $600 million makes it one of …

Insurer 274

Insurer Insured Insurance 274

Insurance Journal

DECEMBER 4, 2024

the Jacksonville, Florida-based specialty insurer and subsidiary of Tiptree Inc., announced it has received regulatory approval to launch a UK subsidiary, called Fortegra Insurance Company UK. The Fortegra Group Inc., The Prudential Regulation Authority (PRA) granted Fortegra UK the license, …

License 254

License Insurance Companies Insurer Insured 254

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 …

Insurer 328

Insurer Insured Insurance 328

Insurance Journal

NOVEMBER 26, 2024

An Ohio man was sentenced to five years in prison and ordered to pay restitution for filing 24 fraudulent claims with multiple insurance companies, totaling more than $229,000, the Ohio Department of Insurance announced. Justin Mack, a native of Buffalo, …

Insurer 264

Insurer Insured Insurance Insurance Companies 264

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 …

Insurer 317

Insurer Insured Insurance 317

Insurance Journal

DECEMBER 2, 2024

personal lines insurance segment for 2025, citing improved rate and pricing conditions, particularly in the auto insurance space, along with solid levels of risk-adjusted capitalization among carriers. AM Best has revised its outlook to stable from negative for the U.S.

Auto Insurance 299

Auto Insurance Insurer Insured Insurance 299

Insurance Journal

NOVEMBER 26, 2024

Tennessee has seen a 25% jump in the number of insurance producer licenses in the past five years, an increase that regulators have attributed to a population boom in the state and easy access to producer exams. The state now …

License 289

License Insurer Insured Insurance 289

Insurance Journal

DECEMBER 2, 2024

The people at Brightway Insurance, based in Ponte Vedra Beach, Florida, near Jacksonville, seem to have taken employee satisfaction and performance to a whole new level. Each employee is asked to make sure, before they leave the office each day, …

Insurer 279

Insurer Insured Insurance Insurance Agency 279

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.

Insurer 289

Insurer Insured Insurance 289

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 279

Property Insurance Insurance Industry Insurer Insured 279

Insurance Journal

DECEMBER 1, 2024

The president of Energy Insurance Agency, an operation with a large presence in Kentucky, said it is “incredibly humbling” for the agency to again be named one of Insurance Journal’s Best Agencies to Work For in the Southeast. “This recognition …

Insurance Agency 264

Insurance Agency Insurer Insured Insurance 264

Insurance Journal

DECEMBER 18, 2024

Highstreet Insurance Partners announced today its acquisition of Collum Insurance Group, LLC based in Richardson, Texas. Along with Collum’s 35 years of personal lines expertise, this transaction adds an additional location to Highstreet’s Gulf Region under Gulf Regional President, Vin …

Insurer 236

Insurer Insured Insurance 236

Insurance Journal

NOVEMBER 27, 2024

Leavitt Inland Pacific is merging with Troy Insurance Agency in Idaho. Both agencies are locally owned and affiliates of Leavitt Group, a network of insurance brokers. This strategic partnership enables Leavitt Inland Pacific to offer service team support and use …

Insurance Agency 264

Insurance Agency Insurance Broker Broker Insurer 264

Insurance Journal

DECEMBER 9, 2024

A North Carolina elementary school principal and a Cape Hatteras man were arrested last week and charged with insurance fraud after authorities said they attempted to make false claims to their insurance companies. Robert Grayson Dail, 35, of Gibsonville, principal …

Insurer 254

Insurer Insured Insurance Insurance Companies 254

Insurance Journal

NOVEMBER 25, 2024

The Missouri Department of Commerce and Insurance is cautioning drivers to be on the lookout for deer and other wild animals as temperatures drop and nights become longer. “Dawn and dusk are the most susceptible times to experience deer collisions,” …

Insurer 279

Insurer Insured Insurance 279

Insurance Journal

DECEMBER 1, 2024

By Chad Hemenway Progressive said it will stop offering dwelling fire insurance, with nonrenewal notices going out as early as Nov. The Mayfield, Ohio-based insurer said the decision to discontinue writing the coverage, often dubbed “landlord insurance,” for non-primary …

Insurer 246

Insurer Insured Insurance 246

Insurance Journal

DECEMBER 4, 2024

Verlingue, the Quimper, France-based insurance broker and subsidiary of the Adelaïde Group, announced it has acquired ProConseils Solutions, a major player in the insurance brokerage market in French-speaking Switzerland. Financial details of the deal were not disclosed. Verlingue said this …

Insurance Broker 250

Insurance Broker Broker Insurer Insured 250

Insurance Journal

NOVEMBER 25, 2024

The UK government expanded its sanctions against Russia’s energy industry on Monday, blacklisting dozens of tankers responsible for moving the nation’s oil as well as two insurers involved in the trade. The measures ban any cooperation with Moscow-based insurers AlfaStrakhovanie …

Insurer 262

Insurer Insured Insurance Marine 262

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 Insurer Insured Insurance 279

Insurance Journal

DECEMBER 4, 2024

announced the indictment of officers of Inter-Insurance Agency Services Ltd. Manhattan District Attorney Alvin Bragg, Jr. and the firm for their roles in an eight-year scheme in which they allegedly provided more than $250 million in coverage to clients while …

Agents 264

Agents Insurance Agency Insurer Insured 264

Insurance Journal

OCTOBER 28, 2024

A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a “direct physical loss” as required by the policy. The Fourth Circuit …

Theft 312

Theft Insurance Policy Policy Insurer 312

Insurance Journal

DECEMBER 3, 2024

Dallas, TX, December 3, 2024 — Jupiter Risk Services, an affiliate of Risk Theory, is proud to launch its High Value Homeowners Insurance, a new insurance product designed specifically for single-family, high-value homeowner properties with coverage ranging from $800,000 to …

Risk 246

Risk Insurer Insured Insurance 246

Insurance Journal

DECEMBER 17, 2024

acquired the assets of Jackson Hole Insurance LLC in Wyoming. Jackson Hole Insurance will be referred to as Jackson Hole Insurance, a Hub International … Hub International Ltd. Evan Molyneaux, president, and Geoff Whitaker, senior sales executive, will join Hub Mountain.

Insurer 237

Insurer Insured Insurance 237

Insurance Journal

NOVEMBER 26, 2024

Truliant Federal Credit Union and its Truliant Insurance subsidiary has acquired Atkins & Associates Insurance Agency in Greenville, South Carolina, expanding the firm’s presence in the Southeast. Atkins has been in operation for 16 years. Tory Atkins is principal. Truliant …

Insurance Agency 263

Insurance Agency Insurer Insured Insurance 263

Insurance Journal

DECEMBER 10, 2024

Top insurance companies suffered $10.6 billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our Future. Of the 28 insurers reviewed, more than … billion of climate-attributed losses this year, just shy of the $11.3

Premium 246

Premium Commercial Insurer Insured 246

Insurance Journal

DECEMBER 10, 2024

Global insurance broker Hub International Limited announced that it has acquired the assets of Fairfield County Bank Insurance Services, LLC. Terms of the transaction were not disclosed. Headquartered in Ridgefield, Connecticut, with additional offices across the state and in New …

Insurance Agency 246

Insurance Agency Insurance Broker Broker Insurer 246

Insurance Journal

NOVEMBER 27, 2024

Insurance broker Aon plc announced it has signed a definitive agreement to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG), enhancing Aon’s risk and health capability offering in Japan. Financial details of the deal were not disclosed.

Insurance Agency 290

Insurance Agency Insurance Broker Broker Insurer 290

Insurance Journal

DECEMBER 3, 2024

Jason Bertoldi has joined Alliant Insurance Services, headquartered in Irvine, California, as global team leader, litigation and contingent risk insurance. Bertoldi assists clients in obtaining bespoke contingent risk insurance policies and structuring transactions that incorporate insurance policies as investment collateral.

Insurance Policy 246

Insurance Policy Insurer Insured Insurance 246

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 279

Home Insurance Claim Insurance Industry Insurer 279

Insurance Journal

DECEMBER 3, 2024

1, every company in Italy must buy insurance to protect its assets from floods, landslides and other natural hazards that have become more common thanks to global warming. Starting Jan. It’s the latest sign of Europe’s rising anxiety about climate …

Risk 260

Risk Protection Insurer Insured 260

Insurance Journal

DECEMBER 3, 2024

Hatchette has been named deputy commissioner of the Maryland Insurance Administration (MIA). Acting Maryland Insurance Commissioner Marie Grant announced the appointment of Hatchette, who since 2004, has served as the associate commissioner for consumer education and advocacy. She …

Insurer 246

Insurer Insured Insurance 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 277

Insurance Industry Insurer Insured Insurance 277

Insurance Journal

NOVEMBER 25, 2024

Two auto insurers will pay fines totaling $11.3 million for data breaches of online insurance quoting systems that New York officials say compromised personal information of an estimated 120,000 customers in total. New York Attorney General Letitia James and New …

Auto Insurance 264

Auto Insurance Cyber Insurance Quotes Insurer 264

Insurance Journal

NOVEMBER 27, 2024

At one of the early meetings of American Legal Connections, Rich Henderson, a senior vice president for reinsurer TransRe, bumped into a concerned client from a hospital insurance company who brought his team members to the event. The insurer was …

Insurance Industry 272

Insurance Industry Insurance Companies Insurer Insured 272

Insurance Journal

NOVEMBER 3, 2024

This means that the changes happening in the property insurance market o which safeguards this asset o are … By Andrew Mais, Jon Godfread, Scott White, & Elizabeth (Beth) Kelleher Dwyer Most homeowning Americans consider their home their most valuable asset.

Property Insurance 298

Property Insurance Insurer Insured Insurance 298