Tag: liability

August 17, 2023

World Insurance Associates LLC announced that R&S Insurance Agency, Inc. (“R&S”) of Stoughton, Wisconsin has joined World as of August 1, 2023. Terms of the transaction were not disclosed. R&S has been providing insurance products and services to individuals, families […]

August 17, 2023

An alleged “family and friend” organized auto insurance fraud ring in California was seemingly broken up by the Urban Automobile Insurance Fraud Task Force when seven people were arrested on Wednesday in connection to the case. In total, 23 individuals […]

August 16, 2023

Auto insurance shopping increased 12% during Q2 compared to the same period last year, according to a new TransUnion report. TransUnion’s quarterly Insurance Personal Lines Trends and Perspectives report, released Tuesday, attributed the rise to vehicle sales and the quest […]

August 10, 2023

The insurance industry is hyper fixated on an issue that is extremely relevant to the property sector, namely valuation. That is according to Ben Beazley (pictured), executive vice president, national accounts property at Jencap Group. “Valuation is the hottest topic […]

March 24, 2023

The Insurance Council of New Zealand (ICNZ) has recorded more than 40,000 claims for Cyclone Gabrielle totalling approximately $890 million, of which roughly $70 million has been paid. Cyclone Gabrielle caused significant flooding and landslides across the North Island of […]

November 3, 2022

Praedicat, the liability emerging risk analytics company, has launched a new probabilistic casualty catastrophe model called Nekomodel X to help facilitate exposure-based pricing and reserving for insurers. PraedicatNekomodel X is designed to expand on the underwriting applications of previous model […]

September 9, 2022

Arturo enacted a number of key leadership changes. Sayata hired a chief distribution officer. Zywave launched a group of new products targeted at the carrier audience. CyberCube is betting a new partnership will expand the audience for its cyber risk […]

July 26, 2021

Personal residential insurer Gulfstream Property and Casualty Insurance Co. has agreed to liquidate according to a July 22 order signed by the Florida Office of Insurance Regulation. The Florida Department of Financial Services must agree to receivership before the liquidation […]

June 21, 2021

The owner of an offshore oilfield boat that overturned off Louisiana plans to use $25 million in insurance on the vessel to pay down part of the Texas company’s debts. Attorneys for families of men killed when the Seacor Power […]

April 6, 2021

On a recent insurance social media page, an agent was looking for a market for a $2 million home that had experienced a $540,000 plumbing leak claim and the carrier had nonrenewed. A few weeks earlier, another agent had been […]

April 6, 2021

Oklahoma has reached a $25 million settlement with Farmers Insurance over the company’s handling of earthquake claims, state officials say. Oklahoma Attorney General Mike Hunter and Insurance Commissioner Glen Mulready say an investigation revealed that Farmers denied or failed to […]

April 5, 2021

First-quarter mergers and acquisitions involving U.S. and Bermuda-based insurance industry companies produced an aggregate deal value of $21.16 billion, according to a report Monday from S&P Global Market Intelligence. This year’s first-quarter tally tops full-year deal totals for 2019 and […]

April 5, 2021

Varney Insurance Agency has announced the formation of Varney Re, a Bermuda-based reinsurance company. Varney Re is a specialist alternative risk transfer reinsurance company that will serve a North American client base. Tod Austin (pictured above) has been appointed chief […]

March 29, 2021

The lawsuit from a 2017 crash of an airplane on 1900 West in Roy lingers on, more than three years after it was filed. The pilot, apparently, was not insured, leaving Samantha Sandoval – hit in her car in the […]

March 12, 2021

JAG Insurance Group (JAG), a South Florida-based commercial insurance agency with Florida offices in Coral Gables and Delray Beach, as well as Charlotte, N.C., has added Andy Fajardo as director of Marine Insurance. As a commercial lines coverage specialist (CLCS), […]

March 12, 2021

An insurer that paid defense costs for a policyholder involved in a liability dispute can recoup those costs if it is later determined that it did not owe a duty to defend the case, a divided Nevada Supreme Court ruled […]

March 11, 2021

Lara is now directing auto insurance companies to report by April 30 how they will return additional premium back to California policyholders that was reportedly over-collected in 2020. He is also directing commercial insurance companies to provide data about commercial […]

March 11, 2021

Property and casualty program carrier Transverse Insurance Group has announced two changes to its leadership team. The company has appointed John Fitzgerald as chief financial officer, while Robert Zerafa will assume the role of chief operating officer. Prior to joining […]

March 5, 2021

The complexities surrounding the development of an ultimate of insurance and reinsurance market losses from the recent US winter storm event are set to be significant, with broker Aon warning to expect a prolonged period of loss creep. winter-stormCurrently, estimates […]

February 26, 2021

A bill filed in the Illinois General Assembly would transfer the responsibilities for investigating workers’ compensation fraud to the state insurance department. Under HB 2947, the pending business of the Illinois Workers’ Compensation Commission’s Insurance Compliance Division would be transferred […]