Insurance Journal

JANUARY 14, 2025

Polo Insurance Managers (PIM), the Guernsey based insurance manager business within the PoloWorks group, announced the launch of Clockwork Re a newly established Category 4 Commercial General Reinsurer in Guernsey. Clockwork Re has been formed to access superior insurance …

Commercial 259

Commercial Insured Insurer Insurance 259

Insurance Journal

JANUARY 9, 2025

With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of destructive Los Angeles area blazes are sure to become clearerlikely pushing up billion-dollar-plus insured loss estimates put forth from fires …

Damage 312

Damage Insured Insurer Insurance 312

Insurance Journal

JANUARY 15, 2025

Trucordia acquired the insurance business of Boulder Insurance Solutions in Colorado. Boulder Insurance Solutions is full-service brokerage in serving small- to mid-sized businesses. Trucordia, formerly PCF Insurance Services, is the group name for the brokerage headquartered in Lindon, Utah.

Insured 221

Insured Insurer Insurance 221

Insurance Journal

JANUARY 10, 2025

Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for both insurers and their reinsurers, with preliminary …

Insured 328

Insured Insurer Insurance 328

Insurance Journal

DECEMBER 23, 2024

Insurance commissioners from nine states are looking to the new Department of Government Efficiency to do away with the Federal Insurance Office. The letter, addressed to DOGE heads Elon Musk and Vivek Ramaswamy, said the FIO’s mission of monitoring the …

Insured 279

Insured Insurer Insurance 279

Insurance Journal

SEPTEMBER 17, 2024

US property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes. The average US property insurance rate decreased 0.94% in the second quarter from a year …

Property Insurance 325

Property Insurance Insured Insurer Insurance 325

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 Insurer Insurance 331

Insurance Journal

DECEMBER 29, 2024

Loyalhanna Insurance Group of Latrobe, Pennsylvania has been acquired by Union Bay Acquisition LLC, an aggregator of insurance agencies based in Lansdale, Pennsylvania. Terms were not disclosed. This acquisition is Union Bay’s sixteenth, and seventh in the state of Pennsylvania.

Insurance Agency 279

Insurance Agency Insured Insurer Insurance 279

Insurance Journal

JANUARY 8, 2025

Active wind-driven wildfires in Southern California that are estimated to have burned more than 1,000 properties and prompted evacuation orders for more than 80,000 residents will likely lead to what industry watchers say will be sizable insured losses. With the …

Insured 299

Insured Insurer Insurance Damage 299

Insurance Journal

JANUARY 6, 2025

A former insurance agent plead guilty to stealing premium from a premium finance company. Formerly licensed insurance agent Tonja Van Roy, 59, who currently resides in Las Vegas, but operated an insurance agency based in Northridge, California, pleaded guilty today …

Insurance Agent 264

Insurance Agent Insurance Agents Agents Premium 264

Insurance Journal

DECEMBER 22, 2024

acquired the assets of Great Basin Insurance Inc. and the Great Basin Insurance team, will join Hub Northwest. Great Basin Insurance will be referred to as Great Basin Insurance, … Hub International Ltd. Agency Partners Dana Loreman and Bill Gilmore Jr.,

Insured 253

Insured Insurer Insurance 253

Insurance Journal

DECEMBER 29, 2024

The three largest insurers brokers each announced or closed multi-billion-dollar acquisitions in 2024. The topic was one of many in which readers of Insurance Journal kept a close eye. Difficulties in the personal auto insurance line of business gave way …

Auto Insurance 264

Auto Insurance Insurance Broker Broker Insured 264

Insurance Journal

DECEMBER 26, 2024

Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2025? Sampson, president and CEO, American Property Casualty Insurers … Here are the responses we received: David A.

Casualty Insurance 286

Casualty Insurance Insured Insurer Insurance 286

Insurance Journal

JANUARY 13, 2025

As more policyholders with Florida’s Citizens Property Insurance are statutorily required to purchase flood insurance, another insurance rate-quoting service has gotten in on the act. Officials with HoneyQuote.com announced Monday that the firm has started offering flood insurance quotes from …

Policyholder 264

Policyholder Insurance Quotes Property Insurance Insured 264

Insurance Journal

DECEMBER 30, 2024

Wildfires and their effect on the California’s homeowners insurance crisis dominated Insurance Journal’s West headlines this year. Other popular stories included big lawsuits, and stories on fraudsters and bad actors being caught and punished. Following is the top 10 list …

Insured 264

Insured Insurer Insurance Workers Compensation 264

Insurance Journal

DECEMBER 30, 2024

announced the acquisition of Tustin, California-based Murray Gardner Insurance Agency Inc., dba BMR Insurance. BMR Insurance is a retail insurance agency serving commercial and personal lines clients primarily … Gallagher & Co. Terms of the transaction were not disclosed.

Insurance Agency 264

Insurance Agency Commercial Insured Insurer 264

Insurance Journal

DECEMBER 29, 2024

What do a demolished bridge, insolvent taxi insurer, jailed gang member, upset Mets fan, malfunctioning elevator, drunk injured employee, and a convicted politician have in common? They are all central players in the some of the top Insurance Journal East …

Insured 264

Insured Insurer Insurance 264

Insurance Journal

JANUARY 8, 2025

There is a risk crisis affecting the insurance industry. Hurricanes Helene and Milton left a trail of tens of billions of dollars of destruction across the southeastern United States. These latest storms have shown that no region is safe from …

Insurance Industry 278

Insurance Industry Insured Insurer Insurance 278

Insurance Journal

JANUARY 2, 2025

Verisk said on Thursday it will be the first modeler to request a review of its wildfire catastrophe model under a reform pushed by California Insurance Commissioner Ricardo Lara. The reform allows catastrophe models to be used by insurance carriers …

Insurance Carrier 290

Insurance Carrier Insured Insurer Insurance 290

Insurance Journal

JANUARY 14, 2025

Insurance Journal is searching for the nation’s leading independent agents and producers to become part of Insurance Journal’s Agents of the Year listing to be published … Are you a top agent/producer? Do you know someone at your agency who is?

Agents 264

Agents Insured Insurer Insurance 264

Insurance Journal

JANUARY 13, 2025

A federal judge last week tripled the damages that Alex Murdaugh’s co-conspirator must pay to Nautilus Insurance Co., million plus significant attorney fees incurred by the insurer. bringing the total to $3.75 A jury last week found Cory Fleming, …

Damage 264

Damage Insured Insurer Insurance 264

Insurance Journal

JANUARY 14, 2025

DARAG, a leading legacy acquirer with a focus on the European and UK market, and wefox Insurance AG, the Liechtenstein-domiciled insurance carrier of wefox Group, announced the transfer of a run-off portfolio including motor damage and third-party liability, private liability …

Liability 263

Liability Insurance Carrier Damage Insured 263

Insurance Journal

JANUARY 8, 2025

Founded in 1963, GLM Insurance is a third-generation family-owned agency providing personal and commercial insurance throughout Virginia and North Carolina. The Andrew Agency has acquired Garriques, Lloyd & McMahon in Richmond, Virginia. The Andrews Agency is an independent agency based …

Insurance Agency 246

Insurance Agency Commercial Insurance Commercial Insured 246

Insurance Journal

JANUARY 14, 2025

The Iowa Insurance Division, a member of the North American Securities Administrators Association (NASAA), announced last week it has joined a $17 million settlement with Edward D. Jones & Co., Edward Jones) resulting from an investigation into the broker-dealer’s …

Broker 264

Broker Insured Insurer Insurance 264

Insurance Journal

DECEMBER 30, 2024

Readers of Insurance Journal were drawn to South Central headlines detailing the complexities facing the insurance industry, from legal and regulatory issues to the evolving landscape of cyber threats and natural disasters. Other popular topics include insurance fraud and unscrupulous …

Cyber 264

Cyber Insurance Industry Insured Insurer 264

Insurance Journal

DECEMBER 27, 2024

Inszone Insurance Services announced the acquisition of Roten & Company Insurance, a longstanding family-owned and operated insurance agency based in San Antonio, Texas. This acquisition strengthens Inszone’s footprint in Texas and enhances its ability to deliver personalized insurance solutions to …

Insurance Agency 246

Insurance Agency Insured Insurer Insurance 246

Insurance Journal

DECEMBER 23, 2024

RiverStone International, the London-based provider of legacy solutions, announced it has signed an agreement with the French branch of Zurich Insurance Europe and Zurich Insurance Co. to provide a loss portfolio transfer reinsurance (LPT) and an insurance business transfer relating …

Insured 260

Insured Insurer Insurance 260

Insurance Journal

DECEMBER 30, 2024

From insurance lawsuits resulting from a murderous South Carolina lawyer and his family, to relentless Florida storm claims, a tight mobile home market and body-shop fraud charges, news stories gave Insurance Journal readers in the Southeast plenty to digest in …

Insured 263

Insured Insurer Insurance Claim 263

Insurance Journal

JANUARY 2, 2025

SageSure closed the acquisition of GeoVera Advantage Insurance Services LLC in Fairfield, California. The entity will now function as a newly formed managing general agent and includes the residential earthquake risk underwriting franchise. As part of the transaction, SageSure has …

Underwriting 278

Underwriting Underwriter Agents Insured 278

Insurance Journal

DECEMBER 19, 2024

Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is increasing non-renewal rates in multiple states, but the insurance industry clapped back by saying extreme weather is just part of …

Insurance Industry 279

Insurance Industry Insured Insurer Insurance 279

Insurance Journal

JANUARY 16, 2025

Intense competition among cyber insurance carriers has resulted in higher limits, enhanced cyber risk management services, flexibility in insurance … While 2024 brought record-breaking data-breach costs and evolving cyber risk, all signs point to stable rates and ample capacity in 2025.

Cyber 246

Cyber Risk Insurance Carrier Insured 246

Insurance Journal

JANUARY 1, 2025

This post is part of a series sponsored by Darkhorse Insurance. Many captive insurance agents, while enjoying the … Ever felt like a bird with clipped wings, singing the same song for the same company year after year? You’re not alone.

Insurance Agent 246

Insurance Agent Insurance Agents Insured Insurer 246

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 Insured 312

Insurance Journal

DECEMBER 26, 2024

announced the acquisition of Oakbrook Terrace, Illinois-based Afina Insurance Advisors Inc. Afina Insurance). Afina Insurance is a property/casualty insurance broker serving clients in greater Chicago. Gallagher & Co. Terms of the transaction were not disclosed. George Van Denend …

Casualty Insurance 246

Casualty Insurance Insurance Broker Broker Insured 246

Insurance Journal

JANUARY 3, 2025

Governor Mike Parson announced that Mick Campbell will take over as the Acting Director of the Department of Commerce and Insurance (DCI) effective January 1, 2025. Campbell currently serves as the Commissioner of Finance for DCI. “We have announced that …

Insured 279

Insured Insurer Insurance 279

Insurance Journal

JANUARY 14, 2025

Floridians may remember the strange case of Jacksonville businessman Jose Lantigua, who faked his own death in 2013 in an attempt to collect millions of dollars in life insurance proceeds. His deeds earned him a spot on the Coalition Against …

Life Insurance 264

Life Insurance Insured Insurer Insurance 264

Insurance Journal

DECEMBER 30, 2024

This year’s top Insurance Journal Midwest headlines feature a range of misconduct, from fraud and embezzlement to high-profile lawsuits. Top stories stories also highlight increasing frequency of severe weather event and the evolving legal landscape of workplace safety. Top 10 …

Insured 264

Insured Insurer Insurance 264