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10, 2015
Hub International Acquires Oxford Coverage in New York
Hub International Limited, a global insurance brokerage, announced that it has acquired the operations of Oxford Coverage in Brooklyn, New York. Terms of the acquisition were not disclosed. Oxford Coverage is a brokerage that specializes in providing commercial lines insurance …
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10, 2015
Willis Launches European Motor Risk Model for 3rd Party Exposures
Willis Group Holdings plc has launched a modeling tool that enables risk managers to forecast third party motor risk across Europe. The Dynamic Casualty Forecast tool uses Willis’ proprietary data so that a client with significant motor exposure of any …
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10, 2015
Personal Chef Association Launches Expanded Liability Coverage
The United States Personal Chef Association (USPCA) has contracted with event insurance provider The Event Helper to offer supplemental liability insurance for its members when they are working outside of the client’s home. This coverage applies to all business situations …
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10, 2015
Global Risk Partners Hires Lewer to Lead E-Trading; Lee for e-Trade Underwriting
Simon Lewer has joined Global Risk Partners Limited (GRP)* as the chief operating officer of its MGA Division, with responsibility for the development of GRP’s electronic trading initiatives. He also has been appointed as the electronic trading director of Plum …
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10, 2015
New York-Based Freedom Specialty Rebranded as Nationwide
Nationwide Mutual Insurance Company announced that the New York-based Freedom Specialty Insurance Company is taking on the Nationwide name, effective Oct. 8. Freedom Specialty’s rebranding aims to leverage Nationwide’s brand recognition, diverse product offerings, and financial stability, the announcement said. …
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10, 2015
China Re Will Sell Almost Half of $2B IPO to Cornerstone Investors
China Reinsurance (Group) Corp., the nation’s biggest reinsurer, will sell about half of its as much as $2 billion Hong Kong initial public offering to cornerstone investors. U.S.-based Prudential Financial Inc., China Life Insurance Co. and Macau casino executive Pansy Ho are …
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10, 2015
GOP Candidate Rubio Criticizes Gov’t Regulation of On-Demand Economy
Republican presidential candidate Marco Rubio vowed to cap the number of regulations government can impose on businesses, particularly “on-demand” startups like Uber and Airbnb that he considers models for a changing national economy. Speaking in New York City on Oct. …
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10, 2015
U.S. Bankruptcy Judge Approves Quebec Oil Train Crash Settlement
A U.S. bankruptcy judge on Friday approved a settlement that clears the way for payments to victims of Canada’s Lac-Megantic crude-by-rail derailment, according to the trustee for the insolvent railway at the heart of the disaster. The approval came after …
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10, 2015
California Commissioner OKs Metlife Ridesharing Insurance for Lyft Drivers
Lyft drivers have a new ridesharing insurance option covering all three ridesharing periods and offering liability coverage with the option to add additional coverages. Those changes came to light on Monday with the introduction of a new product, approved by …
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10, 2015
What’s Driving Surplus Lines Insurance Growth?
Times are good for surplus lines professionals. The surplus lines industry reached new heights in 2014, growing direct premium written (DPW) in 2014 to $40.2 billion – the highest point in history, reports A.M. Best’s “2014 Special Report U.S. Surplus …