NFIP rating revamp pushed back a yearFema has announced that its Risk Rating 2.0 initiative will now be implemented in October 2021, a year later than it originally announced, against a backdrop of political criticism of the new rating system.
Aon sues Alliant over alleged corporate raid on construction practiceAon is again in litigation with Alliant over an alleged corporate raid on its Construction Services Group (CSG) following the defection of seven executives late last month including the practice’s chief broking officer Matt Walsh, The Insurer can reveal.
Worldwide Facilities promotes Kitchen to MGA presidentWorldwide Facilities has announced Gary Kitchen as president of its MGA division, a new position, as the expansive national wholesale broker looks to further grow its geographic footprint.
Ensurance adds underwriting duoConstruction and engineering MGA, and Lloyd’s coverholder, Ensurance has expanded its underwriting team with the addition of Brad Green as senior underwriter and Courtney Varney as underwriting assistant.
Kemper Q3 beats on strong specialty insurance growthKemper has reported third quarter net operating income of $130.0mn, or $1.93 per diluted share, up from $104.5mn or $1.59 per diluted share in the same period.
The Hartford beats as core income climbs 31%The Hartford comfortably beat Wall Street forecasts for Q3 core earnings that included the first full quarter of results from its Navigators acquisition earlier this year.
Palomar GWP up 66% in Q3 as quake cover demand surgesPalomar Holdings has reported a 65.6 percent increase in gross written premiums in the third quarter, to $66.2mn from $40.0mn, driven by strong growth in both earthquake and non-earthquake products.
NFIP pays out over $280mn in Imelda claimsThe National Flood Insurance Program (NFIP) has paid over $280mn to Texas policyholders from Tropical Storm Imelda.
Equinox Global rebrands as Nexus SpecialtyLondon-based managing general agent Nexus Group has rebranded its US operation Equinox Global as Nexus Specialty as it seeks to step up its ambitions in the North American specialty markets.
Court gives FIGA green light to pay Florida Specialty claimsA judge has ruled that the Florida Insurance Guaranty Association (FIGA) may make claims and unearned premium payments to Florida Specialty Insurance Company (FSIC) policyholders without the court making a new insolvency finding.
FIGA asks judge to clear up uncertainty over Florida SpecialtyThe Florida Insurance Guaranty Association (FIGA) has asked a judge to rule whether it is still required to pay claims and unearned premiums relating to Florida Specialty after insolvency allegations against the carrier were struck from a liquidation order last week.
Argo creates new Americas reporting structureBermudian carrier Argo has established a new reporting structure for its business in the Americas led by newly appointed executive vice presidents.
AM Best gets positive on SelectiveCiting factors including expected improvement in commercial auto and E&S, AM Best has revised the outlook of Selective Insurance Group’s A financial strength rating to positive from stable.
Tripra bill clears House committee after extension reduced to seven yearsThe House Financial Services committee has advanced a bill that would give a seven-year extension of the federal terrorism risk insurance programme, which is due to expire at the end of 2020
UPC falls to bigger Q3 loss than in prior periodFlorida insurer United Insurance Holdings (UPC) has reported a core loss of $29.2mn, compared with a $14.9mn loss in the third quarter of 2018.
Hanover beats with Q3 increase in earningsThe Hanover has reported a 9.5 percent increase in third quarter operating earnings, aided by lower catastrophe losses than in the prior year period.
Burns & Wilcox sues CRC and defectors including Don Carson SrBurns & Wilcox has sued its larger rival wholesale broker CRC Insurance Services over the defection of 10 employees, including a top executive who the lawsuit claims went “rogue” after 30 years with the company.
Travelers turns to AI to speed policy issueUS insurer Travelers has partnered with analytics firm Groundspeed to increase the efficiency of writing new and renewal business in its Business Insurance segment using artificial intelligence (AI).
Carlyle to buy US broker Hilb from Abry PartnersThe Carlyle Group has agreed a deal to take a majority stake in US retail broker The Hilb Group that will buy out Abry Partners ownership of the firm.
Beazley names Diamond group head of claims as Hobkinson retiresBlue chip Lloyd’s carrier Beazley’s has named Beth Diamond to succeed Anthony Hobkinson as group head of claims following the latter’s decision to retire from his current role in February 2020.