With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, “prospects for the U.S. cyber insurance market are grim,” according to an AM Best report. According to the global rating agency’s analysts, insurers “urgently need to reassess all aspects …
Propel Insurance, a privately-owned insurance agency and portfolio company of Flexpoint Ford, has acquired South Carolina-based South Risk Management (SRM), a construction-focused insurance consulting firm. The acquisition of SRM expands Propel’s presence into South Carolina and adds to the company’s …
Ascot as a partnered with Highland Insurance Solutions LLC, a subsidiary of WNC Insurance Services Inc. to provide a builders risk insurance program for projects in the U.S. The partnership will provide Highland with additional capacity to underwrite frame and …
Economical Insurance has introduced Vyne Commercial, a new digital platform and an expanded product offering, which is designed to simplify the process of insuring small businesses. Broker partners will be able to instantly quote and bind new property/casualty policies for …
A former North Carolina deputy is suing a sheriff over his requirement for employees to get a COVID-19 vaccine. Christopher Neve, the former Durham County deputy, is asking a court to force Sheriff Clarence Birkhead to reinstate him with back …
Florida has again taken the top spot for strongest building code with Virginia right behind in second place. That’s according to the 2021 edition of the Insurance Institute for Business & Home Safety (IBHS) report Rating the States, which every …
Cedar Park, Texas-based Tejas American General Agency (TAGA) has formed an exclusive partnership with Main Street America Insurance, a member of the American Family Insurance group, to distribute its farm and ranch products in Texas. Main Street’s farm and ranch …
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Texas-based property/casualty insurance company, Southern Vanguard Insurance Co. (SVIC). Southern Vanguard …
Security First Insurance, one of the largest private homeowners insurers, has launched its Homeowner’s Premier HO5 policy. Floridians must have no claims or one claim caused by a weather event and with good-to-excellent credit could quality for a 20% premium …
Arkansas Insurance Commissioner Alan McClain is reminding insured Arkansans seeking automobile repairs that insurance companies cannot require automobile repairs be done at a specific repair shop. “If an insurer inaccurately informs you that your vehicle’s coverage is contingent upon utilizing …