Industry News
Twice as Many Personal Lines Insurers Downgraded by AM Best in 2023
AM Best delivered 39 downward credit rating actions to U.S. personal lines insurers in 2023, more than twice the number registered for 2022, the rating agency reported in it official tally for the ...
Hard Market Strategy: How Independent Agents Adapt
The hard market has independent agents "going the extra mile" to prioritize client communication, retention, technology and team morale. Trusted Choice, the national consumer brand representing the ...
Deal Troubles: James River Lawsuit Says Fleming Failed to Close on JRG Re (Updated)
James River Group Holdings Ltd. announced it has filed a lawsuit against Fleming Intermediate Holdings for its failure to complete the $277 million acquisition of its casualty reinsurance subsidiary, ...
Florida Insurance Legislation Update: Bills That Passed; Bills That Didn’t Pass
A number of property insurance-related bills were introduced in the Florida legislature this year—from a fundamental change to the Citizens Property Insurance Corp. coverage model to further ...
Towers Watson Again Denied Coverage for $90M Settlements Over 2016 Willis Merger
Towers Watson has been hit with another roadblock on its long and winding road to reach coverage for $90 million in settlements of two lawsuits related to its merger with broker Willis in 2016. A ...
Tech Bytes: New Partnerships at VIU by HUB, Selective, INSTANDA
VIU by HUB, an omnichannel insurance brokerage platform, announced its partnership with HoneyQuote, a Florida home and condo insurance marketplace. The partnership provides expanded regional carrier ...
U.S. Treasury Drops Plan to Collect Insurer Data on Climate Risks
The U.S. government is stepping away from its effort to collect data on home insurance prices and availability at the ZIP code level as premiums soar and climate risks to property intensify. Instead, ...
Trump Quest to Appeal Puts Focus on Tiny Slice of Bond Market
Donald Trump's two recent courtroom losses and the staggering legal debts he now owes have put the spotlight on an obscure segment of the insurance market—the appeal bond. On Friday, Trump used the ...