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15 06, 2020

Axon Underwriting Forms Product Recall Crisis Management Division

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Axon Underwriting Services LLC, a specialty lines program administrator, has formed Axon Crisis Management to offer its product recall and foodborne illness and contamination products for U.S. domiciled clients. Axon’s Crisis Management Division is led by Alex Pittignano, senior vice …

15 06, 2020

Caregiving Part of Job for Minnesota Agent with Protest-Impacted Clients

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Dan Gutlovics did a lot of virtual hand holding during the first days of the violent protests in Minneapolis and St. Paul following the death of George Floyd while in the custody of Minneapolis police on May 25. Gutlovics, sales …

15 06, 2020

Genstar Capital Exits Remaining Stake in Palomar in California

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Genstar Capital announced on Monday it has exited its remaining stake in specialty property insurer Palomar Holdings Inc. in La Jolla, Calif. Genstar in 2014 partnered with current CEO Mac Armstrong to form Palomar, a new specialty insurance platform company …

12 06, 2020

Nebraska Farm Bureau: Potential Ag Losses from Pandemic — $3.7B

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Nebraska potentially faces nearly $3.7 billion in agricultural losses from the coronavirus pandemic if economic conditions do not improve, the Nebraska Farm Bureau said. Its estimate projects revenue losses for this year’s commodities, including corn, soybeans, wheat, beef cattle and …

12 06, 2020

New Insurer Astaara Focuses on Protecting Maritime Industry from Cyber Risks

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A new insurance services business, called Astaara Company Ltd. (ACL), has been launched to protect maritime companies from cyber threats Offering risk management, underwriting and analytics, London-based Astaara will work with shipowners and ports operators to decrease their vulnerability to …

12 06, 2020

Insurers Distance Themselves from Disputed Adani Project Amid Global Coal Backlash

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Global insurance companies linked to Adani’s Carmichael coal mine in Australia are distancing themselves from the controversial development, as pressure mounts on financial institutions to cut their ties to the fossil fuel. A growing global consensus has seen financial institutions …

12 06, 2020

Searchlight Capital Partners Completes Acquisition of UK Broker Global Risk Partners

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Global Risk Partners Ltd., the London-based independent insurance intermediary, announced that global private investment firm Searchlight Capital Partners has completed its acquisition of a majority stake in the group, following regulatory approval. Financial details of the deal, which was first …

12 06, 2020

Aspen Insurance Reconfigures Management Team with 2 New CEOs, Non-Exec Director

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Aspen Insurance Holdings Ltd. announced it has made some major changes to its management team, including the appointment of a non-executive director, two chief executive officers and a chief underwriting officer. The announcement also covers the appointment of Theresa Froehlich …

12 06, 2020

New Jersey Framing Contractor Facing $1.9M in Proposed Fines for Safety Hazards

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The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) is proposing penalties against BB Frame LLC, operating as Frame Q and as Owner and Principal Juan Quevedo, for exposing workers to multiple safety hazards at four Bergen County, …

12 06, 2020

Massachusetts’ Safety Insurance Extends Personal Auto Relief Credit

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Safety Insurance has extended its Personal Auto Relief Credit through June 30 to reflect changing consumer patterns and needs during the ongoing COVID-19 pandemic, according to a company press release. The original credit was announced in April and offered all …