Global commercial insurance prices increased 22% in the fourth quarter of 2020, according to the Global Insurance Market Index released by insurance broker Marsh. The increase, the largest since the index was launched in 2012, follows average increases of 20% …
San Francisco, Calif.-based Newfront Insurance has named Jeff Chenu a principal and commercial insurance broker. Chenu is based in Sacramento, and supports a client roster across the Western U.S. He joins Newfront from Relation Insurance Services, where he spent 17 …
Crescencio Velasco Covarrubias, 45, of Button Willow, Calif., was arraigned this week on multiple felony counts of insurance fraud after allegedly failing to disclose prior work-related injuries in order to collect undeserved workers’ compensation benefits. Covarrubias filed a workers’ comp …
USG Insurance Services Inc., a national wholesaler and managing general agency (MGA), has hired Edwin Tejada as a producer/broker for commercial lines in the Philadelphia, Pennsylvania, branch. Tejada joins the USG team with eight years of experience in the insurance …
Maury, Donnelly & Parr Inc. (MDP) and the Kastendike Insurance Group (KIG) has acquired Connecticut-based Northeastern Underwriters LTD. (NEU). The transaction became effective January 1, 2021. As part of the transaction, NEU will continue to work out of its existing …
The California-based multi-level marketing business LuLaRoe is paying $4.75 million to settle allegations from the Washington state Attorney General’s Office that it operated as a pyramid scheme. LuLaRoe sells leggings and other clothing to a network of independent retailers, who …
TrustLayer, developer of a proof-of-insurance risk management platform, has raised $6.6 million in seed funding from venture investors, insurance brokers and others. “Verification of insurance and business credentials is a pain point for millions of businesses and demands a solution …
Gisele Norris has joined global insurance broker Marsh to lead its U.S. Healthcare Practice. In this role, Norris is responsible for the delivery of health care risk management knowledge, expertise, and transactional services to clients across the U.S. Norris joins …
Global insurer Chubb reported fourth quarter results for 2020 significantly better than the same period in 2019. For the 2020 fourth quarter, Chubb’s net income grew significantly higher, as did its net premiums written, which expanded by double digits for …
Argo Group International Holdings Ltd. estimates losses from fourth quarter 2020 natural catastrophes and the COVID-19 pandemic will hit $51 million. Breaking down the overall total, Bermuda-based Argo expects to report Q4 natural catastrophe losses of approximately $38 million, primarily …