INSURANCE NEWS
Brown & Brown Acquires New England’s Smithwick & Mariners Insurance
Brown & Brown of Massachusetts has acquired Maine-based Smithwick & Mariners Insurance, which includes MidCoast Insurance and Chapman & Chapman Insurance. Originally founded in 1987 to service the marine industry, Smithwick & Mariners has grow to serve business owners and …
Markets/Coverages: Earnix, Guidewire Partner; XPT Unifies Brands; Franchise Hotel Program at Suitelife; New Hotel Umbrella Option at Distinguished
Earnix and Guidewire Partner Guidewire and Earnix announced that the two companies have launched a collaborative effort to facilitate faster adoption and increased ongoing performance of their shared offerings. Earnix is a global provider of real-time AI-driven rating, analytical underwriting, …
Hong Kong Insurer FWD Refiles Application for Hong Kong IPO, Eyeing 2023 Listing
FWD Group Holdings Ltd., the Asian insurer backed by billionaire Richard Li, has refiled an application for a Hong Kong initial public offering as it now weighs a listing next year amid market volatility. The renewed filing will grant more …
Montenegro Wrestles With Massive Cyberattack, Russia Blamed
At the government headquarters in NATO-member Montenegro, the computers are unplugged, the internet is switched off and the state’s main websites are down. The blackout comes amid a massive cyberattack against the small Balkan state which officials say bears the …
Supply Chain Restructuring to Generate $33B in Commercial P/C Premiums by 2026: Swiss Re
Swiss Re predicts that deglobalization will generate $33 billion in new commercial property/casualty insurance premiums by 2026, according to its latest sigma report: “Maintaining resilience: the role of P&C insurers in a new world order.” Supply chain restructuring is expected …
Misrepresentation by Insured? It’s Complicated, Florida Appeals Court Rules
Proving that an insured misrepresented the extent of damage from a storm may have just become a little more complicated for Florida insurance companies. Florida’s 5th District Court of Appeals last week reversed a trial court’s summary judgment order, which …
How Comp Fraud Probe at Florida’s Guarantee Insurance Led to Payroll, Tax Convictions
The name Guarantee Insurance is not one that is likely to be recalled with fondness by many Floridians. The workers’ compensation carrier in 2017 was declared insolvent, a rarity in what is one of the most profitable lines of insurance. …
Taylor to Lead Delaware Captive Bureau, Succeeding Kinion
Delaware has named Stephen Taylor, former insurance commissioner for the District of Columbia, as the next director of its captive bureau. Taylor will succeed Steve Kinion, who is leaving Sept. 30 when his contract expires. Taylor served as D.C. insurance …
Virginia Research Facility Shows How to Live With, Not Against, Rising Tides
NORFOLK, Va. — The Elizabeth River Project’s latest work doesn’t fight the rising tide. It will roll with it. The environmental group is constructing a 6,500-foot resilience lab along Colley Avenue and Knitting Mill Creek. The building has an intentional …
People Moves: MS Amlin’s Beazley Named CEO of SCOR UK, SCOR Syndicate; Aon Reinsurance Solutions Hires Goodman as UK President
This edition of International People Moves details appointments at SCOR and Aon Reinsurance Solutions. A summary of these new hires follows here. Former MS Amlin Exec Beazley Appointed CEO of SCOR UK, SCOR Syndicate SCOR announced the appointment of Chris …
Catastrophe Data Company PERILS Expands Coverage to Include European Flood
PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has announced the expansion of its market coverage to include exposure and event loss data for European floods. The new service is in addition to PERILS’ windstorm coverage in …
Alera Group Acquires Louisiana’s jweinland Group Benefits
Alera Group announced the acquisition of jweinland Group Benefits, a full-service employee benefits firm specializing in the highest quality group benefits and self-funded insurance plans. “Our large and mid-market clients enjoy the flexibility of partial self-funding and we help them …