INSURANCE NEWS
SIAA Launches New Data Driven AI Tool to Boost Agency, Carrier Growth
The agency network, SIAA, today announced the launch of a new artificial intelligence optimization platform called SIAA NXT, a platform that combines a suite of solutions and services designed to help members and partners connect and grow in an increasingly …
New Hampshire’s Davis & Towle Acquires Tassey Group
Davis & Towle Insurance Group, headquartered in Concord, New Hampshire, has acquired Tassey Group Insurance in Berlin, which is about 115 miles north of Concord. Davis & Towle also announced the merger of Tassey Group with Davis & Towle affiliate …
8 Auto Insurance Providers to Pay New York $19M Over Data Breaches
New York State is securing more than $19 million in penalties from eight auto insurance providers for violations of the state’s cybersecurity regulation. Department of Financial Services (DFS) Superintendent Adrienne A. Harris said that inadequate cybersecurity controls allowed hackers to …
US Sanctions Online Scammers Who Stole Billions From Victims
The Trump administration sanctioned more than a hundred companies and individuals in Southeast Asia linked to online investment scams that have fleeced US victims of billions of dollars in recent years. The Treasury Department — in collaboration with the UK …
People Moves: Chamberlain to Lead Nationwide’s Small Commercial Operations; Duck Creek Gains New CEO in Former PowerSchool CEO Gulati
Chamberlain Named Small Commercial Operations and Service Solutions Leader Nationwide has tapped Joe Chamberlain to lead its small commercial operations and service solutions organization. Chamberlain has over 30 years of underwriting and operations leadership experience in the insurance industry. Most …
US Government Shutdown Threatens Home Sales in Flood-Prone Areas: Report
A shutdown of the U.S. government could hinder the accessibility of insurance coverage to prospective homeowners in flood-prone areas, and cost the already struggling housing market billions of dollars in delayed contract closings, data showed on Tuesday. The report from …
Viewpoint: Strong In-House Claims Functions Help Build Trust in MGA Sector
The managing general agent (MGA) market is in the spotlight as one of the most agile and innovative arrows of growth for the insurance sector. But as with any arrow, direction and precision matter. Fired without the right discipline, it …
Agents Struggle to Find Capacity, Meet Customer Timing Expectations: Survey
A new property/casualty insurance industry survey report reveals some of the key challenges that independent agents are facing, including providing quotes within customers’ expected time frames—or finding insurance capacity at all in some areas. Almost nine-out-of-10 agents surveyed by First …
Viewpoint: Can Parametric Insurance Bridge the FEMA Gap?
The way communities nationwide recover from natural disasters may never be the same. The National Flood Insurance Program (NFIP) expired on September 30. Simultaneously, pending congressional legislation stands to transform the Federal Emergency Management Agency’s (FEMA) Public Assistance (PA) program. …
Miss. Supreme Court Won’t Budge on $15M Bad-Faith Decision Against USAA
The Mississippi Supreme Court this month declined to reconsider its 2024 decision to uphold almost $15 million in punitive damages and attorney fees against USAA in one of the longest-running claims disputes to come out of Hurricane Katrina. The court …
South Dakota Farmers Use Farm Tunnels for Longer Growing Season
When snow covers the frozen ground, and most South Dakota farmers have sold or stored their products for the season, the operators of Cedar Creek Gardens are still able to grow vegetables and harvest a lucrative crop. Located in a …
Wisconsin Contractor Fined for Acting as a Public Adjuster
Wisconsin Insurance Commissioner Nathan Houdek issued a final decision to impose civil forfeitures of $6,000 after finding that a contractor was acting as a public adjuster under Wisconsin law, which subjected him to the standards of Wis. Stat. ch. 629, …