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HCI Executive: Subsidiary Has Surplus to Absorb Closing Florida Homeowners Book at Anchor: HCI Group Inc. subsidiary Homeowners Choice Property & Casualty Insurance Co. Inc. will offer short-term coverage to all the policies, to be cancelled April 1, ...
Date: February 14, 2020    
Catastrophe Modelers Estimate Losses From Europe’s Winter Storm Ciara-Sabine at US$2 Billion: Catastrophe modelers are estimating insured property losses of up to €1.9 billion (US$2.06 billion) from Winter Storm Ciara-Sabine, which hit the United ...
Date: February 14, 2020    
Lawsuit Says Progressive Denied Injury Claims Based on ‘Paper’ Reviews: Two Kentucky residents are seeking a federal class-action lawsuit against Progressive Direct Insurance Co., alleging the company improperly and systematically ...
Date: February 14, 2020    
Openly CEO: The Vantage Spot Is Between Customers and Risk Capital: Ty Harris, founder and chief executive officer, Openly, said the startup managing general agent works with agents, insurers and reinsurers to sell homeowners ...
Date: February 14, 2020    
Trump’s 2021 Budget Would Reduce Crop Insurance Subsidies by 26%, Reduce Affordability: President Donald Trump’s fiscal year 2021 budget would cut $3.1 billion from federal crop insurance programs next year, a reduction of 26% that trade ...
Date: February 13, 2020    
Virginia House Takes Up Bill Raising Auto Liability Minimums: The Virginia House of Delegates is considering a bill that would increase minimum coverage for injury and damage in an auto accident. S.B. 664 would raise ...
Date: February 13, 2020    
Sun Life Sees Fourth-Quarter Profits Rise on Wealth Management: Fourth-quarter net income attributable to Sun Life Financial Inc. rose 24% to C$719 million (US$542 million), as group retirement services saw quarterly sales ...
Date: February 13, 2020    
AM BestTV: Australian Fires Could Impact Earnings, Reinsurance Markets, Says AM Best Associate Director: In this episode of AMBestTV, AM Best Alex Rafferty, associate director, analytics, said many Australian insurers appear positioned to absorb losses from the ...
Date: February 13, 2020    
Argo Warns $114M Underwriting Loss Will Hurt Fourth-Quarter Earnings: Argo Group International Holdings Ltd. said it expects to report a fourth-quarter underwriting loss of around $114 million when it reports its quarterly ...
Date: February 12, 2020    
Walkers Bermuda Partner: Cryptocurrency Risks Find Home in Captive Market: Cryptocurrency risks are proving difficult to place in the commercial market, but are finding coverage through captives, said Peter Dunlop, partner, insurance ...
Date: February 12, 2020    
Assurant CEO: Cellular Coverage Exceeded Expectations, Company Well-Positioned to Support a Larger T-Mobile: Assurant Inc. has become T-Mobile’s partner of choice for all mobile device coverage and is positioned to support the wireless cellphone company’s future ...
Date: February 12, 2020    
Trupanion Names President for New Canadian Unit: Pet insurer Trupanion Inc. has named Randy Valpy as president of its to-be-formed Canadian underwriting company. Valpy has more than 20 years experience in ...
Date: February 12, 2020    
Insurance Bureau of Canada Forms Commercial Task Force to Look at Hardening Market: The Insurance Bureau of Canada has launched a commercial insurance task force to examine impacts of the hardening global market, risk mitigation and cost ...
Date: February 12, 2020    
Lloyd’s Insurance Broker Besso Re Appoints New Head: Besso Insurance Group, a London-headquartered Lloyd’s insurance broker, has named David Merry as head of Besso Re. Merry has almost 35 years of experience as ...
Date: February 12, 2020    
AM Best Miami Briefing to Focus on Evolving Latin America Insurance Markets, Innovation and Emerging Risks: AM Best will host a market briefing on the state of Latin America’s insurance industries on Thursday, Mar. 12, 2020, at the JW Marriott Miami Turnberry Resort ...
Date: February 12, 2020    
AM Best to Host Webinar on Current Trends in the ILS Market: AM Best will host a complimentary webinar, on Feb. 20, 2020, at 10 a.m. (EST). A panel of AM Best analysts will examine developing issues in the ...
Date: February 12, 2020    
ICA Declares Sixth Catastrophe in Australia, Raises Combined Insured Loss Estimate to A$2.56 Billion: Australian insurers have incurred A$2.56 billion (US$1.7 billion) in estimated losses from six catastrophes since September, including February storms and ...
Date: February 11, 2020    
Marsh: Commercial Lines Pricing Rose Nearly 11% in Fourth Quarter: Global commercial insurance prices rose nearly 11% in the fourth quarter of 2019, as prices increased for the ninth-consecutive quarter of price increases, ...
Date: February 11, 2020    
Lloyd’s Names Members to Independent Culture Advisory Group: Lloyd’s named members to its independent culture advisory group, recently launched as part of what the market said is “a comprehensive action plan to drive ...
Date: February 11, 2020    
Kemper CEO: Windhaven Liquidation Likely to Add Fuel to Kemper’s Nonstandard Growth in Florida: Kemper Corp. expects the liquidation of Florida automobile writer Windhaven Insurance Co. will fuel even greater growth in specialty auto in the state, ...
Date: February 11, 2020    
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