INSURANCE NEWS
People Moves: United Fire Group Names Weidwinger as President, CEO; Sentry Adds Schenker as Head of Specialty
United Fire Group Names Kevin Weidwinger as new President and CEO United Fire Group, Inc. named Kevin Leidwinger as its new president and chief executive officer. An insurance executive with more than 30 years in the industry, Mr. Leidwinger will …
Jobs Blowout Cements Case for Another Big Fed Rate Hike
Another blowout jobs number and continued wage growth will likely stiffen resolve at the Federal Reserve for another three-quarter point rate increase at the central bank’s July meeting, as the welcome news of a still strong job market clashes with …
People Moves: Robnett Appointed to Texas Mutual Board of Directors
Kevin Robnett of Fort Worth has been appointed to the Texas Mutual Insurance Company board of directors by Gov. Greg Abbott. His board term for Texas Mutual, the state’s leading provider of workers’ compensation insurance, will expire on July 1, …
Chicago Insurance Broker Saves Young Boy’s Life in July 4 Parade Shooting
A woman, stunned and speechless in the chaos of a July 4 parade massacre, walked up to Greg Ring and handed him a 2-year-old boy, covered in blood. Ring had fled the scene in the Chicago suburb of Highland Park …
Hub Acquires Louisiana’s Shaver-Robichaux Agency
Hub International Limited acquired the assets of Shaver-Robichaux Agency, Inc. (Shaver-Robichaux). Terms of the transaction were not disclosed. Located in Thibodaux and Raceland, Louisiana, Shaver-Robichaux is an independent agency providing commercial and personal insurance solutions, including home, auto, health, life …
Severe Storms Cause Damage, Power Outages in South Dakota
Xcel Energy says 55,000 customers lost service when a long line of severe thunderstorms rolled across South Dakota. By Wednesday morning, 90% of power lost on Tuesday has been restored by more than 600 employees and contractors working in the …
Porch Group’s Homeowners Insurance Enters Delaware, Its 19th State
Home services firm Porch Group announced the expansion of its homeowners insurance services, Homeowners of America (HOA), to Delaware, its 19th state. Porch Group is a Seattle-based, technology platform that provides software and services to home services companies including home …
New York City to Provide Inflatable Dams to Homeowners at Risk for Floods
Homes at high risk for flooding in New York City will receive free inflatable dams in a new plan rolled out Thursday by Mayor Eric Adams. The plan aims to prepare city dwellers for extreme rainfall and costs the taxpayers …
Florida’s Capacity Insurance Gets Downgraded, Stops Writing New Business
AM Best has withdrawn its financial strength rating for Sunrise, Florida-based Capacity Insurance, and the company has stopped writing new business. “Due to a variety of circumstances, the Florida market has undergone tremendous changes over the last year. As a …
Insurtech Venture Capital Fund Seeks Digital MGA Startups for Lab
InsurTech Fund, a venture capital fund associated with InsurTech NY, has announced that it will be accepting applications for its first Digital MGA Lab, a three-month program focused on managing general agents. The program is designed for digital brokers, analytics …
Cowbell Doubles Underwriting Capacity With Palomar
Cowbell Cyber said it reached an agreement with Palomar Excess & Surplus Insurance Company to double the available reinsurance capacity for Cowbell Prime 250, Cowbell’s cyber coverage for businesses with up to $250 million in revenue. The expanded relationship between …
U.S.-Based 3M Faces More Costs After $581M Chemical Cleanup Pact in Belgium
3M Co. still faces the prospect of additional costs to resolve contamination liabilities in Belgium after reaching an agreement to clean up and remediate PFAS, the so-called forever chemicals used in many consumer goods, a government official said. The St. …