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February 19, 2021
 
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National

 

Fitch Sees 'Modest' Homeowners Insurance Underwriting Loss for 2020

The homeowners insurance industry is poised to shift to a modest underwriting loss for 2020, reports Fitch Ratings, citing losses from...
 

SPAC Backed by AmTrust Executives Files for $300M IPO

A blank-check firm, backed by AmTrust Financial Services Chief Executive Officer Barry Zyskind, is looking to raise $300 million through...
 

A.M Best Upgrades E&S Outlook; Praises Resiliency, Clear Terms Amid Pandemic

A.M. Best has upgraded its outlook for the U.S. excess & surplus lines insurance sector citing its resiliency in the face of pandemic...
 

Why Industry Must Take Measurable Steps to Increase Diversity

A key takeaway from 2020 is the acknowledgement that change of a magnitude greater and more frequent than anyone had anticipated is upon...
 

AIG Hikes Rates Up to 45%; Reports Interest in Life/Retirement Unit Sale

American International Group Inc. said on Wednesday it is hiking some commercial insurance rates by as much as 45%, a trend it sees...
 

U.S. Financial Services Leaders Support Principles for Low-Carbon Transition

U.S. financial services leaders have stated their support in principle for a U.S. transition to a low-carbon economy. The support comes...
 

Seeding Innovation With Purpose: A 2021 Priority

The Chinese use two brush strokes to write the word "crisis." One brush stroke stands for danger, the other for...
 
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Business Income Insurance Demystified
 
Business income coverage is arguably one of the most important coverages your commercial clients should have. Get THE book on the subject.
 
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East

 

Viewpoint: Biometric Information Privacy Statutes Could Be a Minefield for Insurers

In recent years, there has been a dramatic increase in private entity use of biometric-dependent technology to assist with employee...
 

Policygenius Hires Shepherd as Chief Financial Officer

Policygenius has hired Bill Shepherd as the company's chief financial officer. In this role, Shepherd will oversee all of the company's...
 

Sovereign Claims Appoints Humphreys, Conolly to its Executive Team

Sovereign Claims LLC, an insurance risk management consultancy serving underwriters in the real estate development, general contracting...
 

Crum & Forster Adds Quaranta, Borovski to East, Southeast eRisk Teams

Crum & Forster has expanded its eRisk team with the addition of Cassie Quaranta as an executive underwriter in the Northeast Region and...
 
More East News »
 
 
 
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Midwest

 

Citing Bias, Black Franchise Owner, Ex-MLBer, Sues McDonald's

The Black owner of 14 McDonald's franchises says the company has shown more favorable treatment to white owners and denied him the...
 

$23.9M Returned to Missouri Insurance Consumers in 2020

The Consumer Affairs and Market Regulation divisions of the Missouri Department of Commerce and Insurance (DCI) helped consumers receive...
 

OSHA: Missouri Plumbing Contractor Fined $299.5K for Trench Safety Violations

Barely two years after an Oak Grove, Missouri, plumbing contractor agreed to adopt a comprehensive trench safety program following the...
 
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Independent Agency in AL for Sale.
 
Agency in same location for 21 years.
 
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Southeast

 

Freezing Winter Storm Paralyzes Deep South; Thousands Without Power

Winter storms that dumped additional snow and ice on the Deep South plunged more than 300,000 homes and businesses into darkness early...
 

Officials: 'Freak Storm' Caused Deadly North Carolina Tornado

North Carolina Gov. Roy Cooper said Wednesday that the state must learn from the surprise tornado that struck Ocean Isle Beach with...
 

North Carolina Offering Altered Road Test for Teen Drivers to Receive Licenses

North Carolina's Division of Motor Vehicles has started offering road tests to teen drivers again. The Raleigh News & Observer reports...
 

Crum & Forster Adds Quaranta, Borovski to East, Southeast eRisk Teams

Crum & Forster has expanded its eRisk team with the addition of Cassie Quaranta as an executive underwriter in the Northeast Region and...
 
More Southeast News »
 
 

South Central

 

Insurers Expect 'Hundreds of Thousands' of Claims from Texas Storm

U.S. property insurers are bracing for claims for damage from collapsing roofs, bursting pipes and lost business as Texas takes stock of...
 

Winter Storm Uri to Generate Billions in Insured Losses: Moody's

The massive winter storm that barreled through the mid-section of the United States and across the South in mid-February, hitting Texas...
 

Oklahoma Legislation Would Require Tornado Safety Information in Hotels

Under legislation passed by the Oklahoma House of Representatives, new or renovated hotels and motels would be required to tornado safety...
 
More South Central News »
 
 

West

 

Washington Insurance Commissioner-Backed Bill to Ban Use of Credit Scores Amended

A Washington bill to ban insurers from using consumers' credit scores to determine auto and homeowner insurance premiums was gutted by an...
 

Anchorage Building Getting $41M Upgrade After Quake

A building in Anchorage that once housed a Key Bank office is undergoing a $41 million renovation inspired by Alaska's glaciers. The...
 

California Commissioner Wants More Group Discounts for Lower-Income Drivers

California Insurance Commissioner Ricardo Lara on Thursday released revised draft regulations to expand drivers' access to group...
 

Cannabis Broker Spotlight: Lockton's Devey Helps Clients Battle 'Insurance Fatigue'

Editor's note: This part of a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got...
 
More West News »
 
 
 
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$2.8 Million Allstate Agency for Sale
 
Owner financing and office space available.
 
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International

 

UK Court Rules Uber Drivers Should Be Classed as Workers, in Blow to Business Model

LONDON - A group of Uber drivers are entitled to worker rights such as the minimum wage, Britain's Supreme Court ruled on Friday in a...
 

Caribbean Agricultural Workers Keep Fighting for Compensation from Pesticide Exposure

SAN JUAN, Puerto Rico - Agricultural workers who have long sought compensation for contamination from a pesticide banned in France but...
 

UK to Set Up Green Finance Hubs to Encourage Banks, Insurers to Invest in Renewables

The UK will set up green finance hubs in Leeds and London as part of efforts to encourage lenders and insurers to invest in renewable...
 

Allianz' 2020 Operating Profit Drops 9.3% in First Decline Since 2011

FRANKFURT - German insurer Allianz posted its first fall in annual operating profit in nearly a decade on Friday on higher claims from...
 

Swiss Re Reports Larger-Than-Expected Annual Loss of US$878 Million

Swiss Re swung to a larger-than-expected annual loss on Friday, pressured by $3.9 billion in claims and reserves related to the...
 

Lloyd's Expects to Reopen Underwriting Room in April or May

Lloyd's expects to reopen its underwriting room on Lime Street in London after Easter from April 12, or after the early May UK holiday on...
 

Specialty Lines MGA Ensurance Completes New Capacity Deal with AXA

Ensurance, the London-based specialty managing general agent, has announced a new capacity deal with AXA Insurance UK plc for its core...
 

Zurich Insurance Appoints De Nil as CEO of Nordics

Zurich Insurance Group has appointed Dirk De Nil as CEO of Nordics, in addition to his current role as CEO Benelux, expanding his...
 
More International News »
 
 
 
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Understanding Business Income
 
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Research and Webinars

 
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Guide to Administering Your Own Premium Financing Program

Agencies arranging financing to insureds through premium finance companies can increase their top and bottom lines by offering...
 
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The SEO Guidebook for Insurance Agents

Have you thought about how your insurance agency can be found online? Consumers have been turning to the internet to shop for...
 
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Getting the Most Out of Your Agency Data

To succeed and grow in a digital-first world, insurance agencies need to know and use the data in their technology. Agencies...
 
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3 Ways to Jumpstart Your Agency Growth

Surviving as an independent agent is no longer the name of the game. Modern agencies want to grow their business more than...
 
More research and webinars »
 
 

Insurance Journal TV

 
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EP.18: Insuring Public Cannabis Companies is the Business to be in

Shares in cannabis companies soared during the trading week ending Feb. 12, spurred in part by...
 
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Diversity, Resilience, Innovation: Altmaier's NAIC Priorities for 2021

Florida insurance chief David Altmaier has a busy year ahead, and it won't just include...
 
Watch more videos at InsuranceJournal.tv »
 
 

New Discussions in the Forums

 

Chrome or Internet Explorer

Posted: Wed Feb 17 -- How can any business survive without programming for Chrome? US-Insurance-Tech
 

How can a new agent obtain appointments?

Posted: Wed Feb 10 -- If you're just starting your transition or comparing aggregators, word of advice, review the contracts. "You own the book" has multiple... jdwebb
 
Go To Forums »
 
 

Reader Comments

 

Kin Insurance Launches Landlord Insurance in Florida Market

Posted: Fri Feb 12 -- LFG!!! JR
 

Florida Consumers 'Flabbergasted' by Property Insurance Rate Hikes

Posted: Fri Feb 12 -- Never understood why insurers cover roof coverings at replacement cost. I know it's easier to adjust claims that way but the majority of... SWFL Agent
 

In Texas's Black-Swan Blackout, Everything Went Wrong at Once

Posted: Wed Feb 17 -- So it's not the fault of the non-existent Green New Deal and responsibility should be placed on the leaders of the state? Rosenblatt
 

NTSB Will Investigate Deadly 130 Vehicle-Plus Crash in Texas

Posted: Thu Feb 18 -- what? blame the transportation department because they can't remove all ice/snow from a highway in winter?! **news flash**: SLOW DOWN when... theOCG
 

Texas Leaders Failed to Heed Warnings About Vulnerability of Power Grid, Experts Say

Posted: Thu Feb 18 -- Not addressing this situation is like saying that when the sun shines there is no reason to fix a leaking roof. Texas residents and business... Hmmmmmm
 
Go To Popular Comments »
 
 
 
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