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INSURANCE NEWS
Amwins Acquires Firearms Insurance Specialist Joseph Chiarello & Co.
Specialty insurance wholesale broker Amwins reports it has acquired Joseph Chiarello & Co., Inc., a managing general agent (MGA) specializing in commercial insurance for the firearms industry. Terms of the deal were not disclosed. Chiarello will join Amwins Underwriting, adding …
US-Iran Clashes Escalate as Fears Grow of Extended Conflict
Fighting between the US and Iran over control of the Strait of Hormuz intensified after a period of relative calm, triggering a fresh jump in energy prices as fears grow of an open-ended war. The US military carried out a …
People: Builders Insurance Names Jasmund Board Chairman
Atlanta-based Builders Insurance Group has named David Jasmund, a longtime board member and investment banker, as chairman of the board. Jasmund succeeds Charles Potok, who retired last month after three years as chairman, the company said in a news release. …
Tech Update: Howden Re Offers Property-Level Modeling for SRCC Risks
Howden Re, the reinsurance arm of insurance broker Howden, is partnering with the modeling company Synthetik Insurance Technologies, to launch an analytical tool designed to help insurers and reinsurers better understand, quantify, and manage strikes, riots and civil commotion (SRCC) …
Texas A&M Forest Service Launches Prescribed Burn Manager Insurance Program
The Texas A&M Forest Service launched an insurance program this week to provide liability protection for qualified certified and insured prescribed burn managers (CIPBMs). The Texas Prescribed Burn Manager Insurance Program was created in response to a recent House Bill …
Florida Citizens Awards Commercial Clearinghouse Management to Bridge Specialty
Despite months of lobbying and significant political campaign contributions by Ryan Turner Specialty brokerage, the winning bid for management of part of a Florida Citizens Property Insurance commercial clearinghouse has been awarded to another brokerage. At a meeting Tuesday, Citizens …
Severe Thunderstorms Threaten From Great Lakes to New Jersey
Another round of severe thunderstorms is threatening the US and Canada, from the Great Lakes to New Jersey, promising to disrupt flights and cause power outages. There is a level two risk of severe thunderstorms from Michigan to New Jersey …
People Moves: Cincinnati Insurance Chief Claims Officer Schambow to Retire, McMillan to Assume Responsibilities
Cincinnati Financial Corporation announced that Marc J. Schambow, CPCU, AIM, ASLI, chief claims officer for its property casualty subsidiaries, led by The Cincinnati Insurance Company, will retire in January 2027. Schambow has served as Cincinnati’s top claims officer since 2020, …
Ships Adopt Makeshift Anti-Drone Defenses as Black Sea Attacks Intensify
Tankers and cargo ships are transiting the Bosphorus strait adorned with nets, water tanks and tires to try to fend off growing Russian and Ukrainian drone strikes in the Black Sea, according to security experts and video obtained by Reuters. …
First Half US P/C Industry Underwriting Gain Jumps to $31.7B
The U.S. property/casualty insurance industry posted a much higher net underwriting gain of $31.7 billion for the first half of 2026, up from $11.6 billion the prior year. According to a report from data analytics and technology firm Verisk and …
PG&E to Defer $2 Billion of Work After California Shelved Fire Bill
PG&E Corp. plans to defer about $2 billion of investments next year as part of a strategic review of its businesses, a move that comes after it said a proposed revamp of California’s wildfire response didn’t do enough to protect …
Stewart Information Services Acquires Telecommunications Specialist Tower Title
Houston-based title insurer and real estate services firm Stewart Information Services Corp. reports it has acquired East Providence, Rhode Island-based Tower Title, a national specialist in title services for the telecommunications industry. Terms of the transaction were not disclosed. Founded …
