News Archives - Insurance Journal

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6 11, 2024

Markets/Coverages: Novatae Risk Group Launches Misc. Pro Liability Program

By | November 6th, 2024|Uncategorized|Comments Off on Markets/Coverages: Novatae Risk Group Launches Misc. Pro Liability Program

Novatae Risk Group, a managing general agency, program manager and wholesale brokerage, said it has launched its new miscellaneous professional liability program with a focus on fast quoting for brokers and exceptional claim service for insureds. With underwriting handled in-house …

6 11, 2024

AIG CEO Zaffino on Approach to Catastrophe Losses in Today’s Reinsurance Market

By | November 6th, 2024|Uncategorized|Comments Off on AIG CEO Zaffino on Approach to Catastrophe Losses in Today’s Reinsurance Market

American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead continue to be absorbed by primary insurance companies, he told analysts during …

6 11, 2024

Ivans Index Shows Commercial Lines Renewal Rates Down in October From August

By | November 6th, 2024|Uncategorized|Comments Off on Ivans Index Shows Commercial Lines Renewal Rates Down in October From August

All major commercial lines premium renewal rates were lower in October than in August, according to the latest monthly Ivans Index. Premium renewal rate change by line of business for October 2024 highlights include: Commercial Auto: 9.62%, down slightly from …

6 11, 2024

People Moves: H.W. Kaufman Group Promotes 11 Leaders Across North America

By | November 6th, 2024|Uncategorized|Comments Off on People Moves: H.W. Kaufman Group Promotes 11 Leaders Across North America

H.W. Kaufman Group, headquartered in Farmington Hills, Michigan, promoted 11 members of its North American team to new roles. The promotions include: Rich Gobler, promoted to executive vice president, Burns & Wilcox; from senior vice president. Manny Manuelidis, promoted to …

4 11, 2024

Monarch E&S Acquires Texas’ Professional Insurance Executives

By | November 4th, 2024|Uncategorized|Comments Off on Monarch E&S Acquires Texas’ Professional Insurance Executives

Monarch E&S Insurance Services (Monarch E&S), a division of Specialty Program Group LLC, announced its strategic acquisition of the assets of Professional Insurance Executives, Inc. (PIE), a leading contract binding/brokerage business located in Garland, Texas. This acquisition strengthens Monarch E&S’s …

4 11, 2024

Texas Agency Seeks $100M to Tackle Well Blowouts

By | November 4th, 2024|Uncategorized|Comments Off on Texas Agency Seeks $100M to Tackle Well Blowouts

Unable to keep up with the growing number of leaking and erupting wells in the state’s oil fields, the Texas Railroad Commission, which regulates the state’s oil and gas industry, has asked lawmakers for an additional $100 million in emergency …

4 11, 2024

Vehicle Crashes Into Tree in Wisconsin, Killing 5

By | November 4th, 2024|Uncategorized|Comments Off on Vehicle Crashes Into Tree in Wisconsin, Killing 5

Five people died in a fiery vehicle crash in Wisconsin, authorities said Saturday. The Dane County Sheriff’s Office said in a statement that the vehicle crashed into a tree Friday night off a roadway just south of Verona, a town …

4 11, 2024

Fire Closes Ohio River Bridge Near Cincinnati and Damges its Steel Structure

By | November 4th, 2024|Uncategorized|Comments Off on Fire Closes Ohio River Bridge Near Cincinnati and Damges its Steel Structure

CINCINNATI (AP) — A massive fire underneath a bridge spanning the Ohio River closed a heavily traveled route between Cincinnati and northern Kentucky on Friday and damaged part of the steel structure. No injuries were reported. The fire broke out …

4 11, 2024

Will People Leave Florida After Hurricanes? History Suggests Not

By | November 4th, 2024|Uncategorized|Comments Off on Will People Leave Florida After Hurricanes? History Suggests Not

ORLANDO, Fla. (AP) — The news rippled through Treasure Island, Florida, almost like a third storm: The mayor planned to move off the barrier island a month after Hurricane Helene flooded tens of thousands of homes along the Gulf Coast …

4 11, 2024

Berkshire’s GEICO Turns in Strong Q3 but Overall Insurance UW Income Slips

By | November 4th, 2024|Uncategorized|Comments Off on Berkshire’s GEICO Turns in Strong Q3 but Overall Insurance UW Income Slips

Third quarter underwriting income with Berkshire Hathaway’s insurance insurance units fell about $1.7 billion to $750 million due to estimated losses of about $565 million from Hurricane Helene and increases in losses from prior year claims. In releasing its earnings …