News – Insurance Journal
Posted January 15, 2018 at 1:04 pmSunken Iranian Oil Tanker Causes 10-Mile Oil Slick in East China Sea
The burning Iranian oil tanker that sank in the East China Sea on Sunday in the worst oil ship disaster in decades has produced a 10-mile long oil slick as black smoke continued to billow from the site, Chinese media …
Posted January 14, 2018 at 5:59 pmIowa High-Rise Project Uncertain After Property Swap with Insurer
The developer of an $88 million high-rise project in downtown Des Moines has announced plans to trade the land to an insurance company in exchange for a portion of a downtown property. Blackbird Investments’ announcement leaves the future of its …
Posted January 12, 2018 at 5:39 pmChicago-Area Fire Destroys Half of Metal Recycling Facility
Crews worked through the night to extinguish large fire at a recycling facility in suburban Chicago. No injuries were reported following the fire that started late on Jan. 10 in Des Plaines. Deputy Chief Peter Dyer of the Des Plaines …
Posted January 12, 2018 at 5:34 pmArthur J. Gallagher & Co. Acquires Houston’s AquaSurance
Arthur J. Gallagher & Co. announced it has acquired AquaSurance LLC in Houston, Texas. Terms of the transaction were not disclosed. Founded in 2002 by Harry Peyton and Marshall Schoth, AquaSurance is a property/casualty broker focused exclusively on serving Texas …
Posted January 12, 2018 at 5:31 pmJ.M. Wilson Adds James as Assistant Property/Casualty Underwriter in Ohio
J.M. Wilson has hired Taylor James as assistant property/casualty underwriter in its Westerville, Ohio, office. James is responsible for assisting underwriters on a wide variety of property and casualty risks, as well as quoting new and renewal business and servicing …
Posted January 12, 2018 at 5:30 pmPhiladelphia Insurance Cos. Employees Plant Trees in Wildfire-Devastated Texas Park
Fifty Philadelphia Insurance Companies (PHLY) employees are supporting the company’s efforts to plant 80,000 trees for the third consecutive year through a two-day project near Austin, Texas. Employees have finished their second day of planting in Bastrop State Park as …
Posted January 12, 2018 at 5:24 pmCalifornia Mudslide Victims ID’d as Crews Continue Survivor Search
The oldest victim swept away in a California mudslide was Jim Mitchell, who had celebrated his 89th birthday the day before. He died with his wife of more than 50 years, Alice. The youngest, 3-year-old Kailly Benitez, was one of …
Posted January 12, 2018 at 4:36 pmLeavitt Group Insurance Advisors Adds Scott in Utah
Salt Lake City, Utah-based Leavitt Group Insurance Advisors has named Mike Scott a senior risk advisor and director of program business. Scott will focus on middle markets, large accounts, and hard-to-place specialty risks. He specializes in insurance for technology, exporters, …
Posted January 12, 2018 at 4:19 pmHub International Acquires P/C Book from Montreal Broker Daniel Picard
Hub International Ltd. (Hub), the Chicago-based insurance brokerage, announced it has acquired a property and casualty insurance book of business from Montreal broker Daniel Picard. Terms of the acquisition were not disclosed. Daniel Picard’s property and casualty insurance book of …
Posted January 12, 2018 at 4:17 pmAll Risks Adds CRC Swett’s Aasen in Northern California
All Risks Ltd. has added Brandon Aasen to its San Francisco, Calif. office as a property broker. Aasen will be responsible for producing new property business for the West Coast. He will also specialize in commercial property coverages including difference …
IBR – Commercial lines News
Posted January 14, 2018 at 6:10 pmBIBA introduces trade credit insurance scheme
The British Insurance Brokers’ Association (BIBA) has launched a scheme for trade credit insurance via CMR Insurance Services.
Posted January 10, 2018 at 12:00 amRyan Specialty to buy wholesale insurance brokerage Kerwick & Curran
Ryan Specialty Group, an international specialty insurance organization that offers solutions for brokers, agents and insurance carriers, has agreed to acquire wholesale insurance brokerage Kerwick & Curran (K&C).
Posted January 5, 2018 at 12:00 amAllianz acquires 49% stake in LV=’s UK General Insurance businesses
Allianz has completed the acquisition of 49% stake in LV=’s UK General Insurance businesses.
Posted January 3, 2018 at 12:00 amIndia’s GIC Re secures approval for new Lloyd’s syndicate
General Insurance Corporation of India (GIC Re) has secured in-principle approval from the Lloyd’s Franchise Board to establish a new syndicate.
Posted December 22, 2017 at 5:45 amSoftBank leads $120m investment round for AI insurance startup Lemonade
Lemonade, an insurance company powered by artificial intelligence (AI) and behavioral economics, has raised $120m in funding for global expansion.
Posted December 21, 2017 at 10:49 amAllianz becomes BIMA’s largest strategic shareholde
Allianz X, the digital investment unit of the Allianz Group, has invested $96.6m in BIMA, a digital microinsurer using mobile technology to serve low-income customers in Africa, Asia and Latin America.
Posted December 20, 2017 at 12:00 amXL Catlin launches insurance for marine contractors in US
XL Catlin’s North America marine insurance business has introduced an insurance solution specifically designed for marine contractors in the US.
Posted December 19, 2017 at 12:34 pmHowden enters into Mexican insurance market
Howden has entered into the Mexican insurance market in partnership with Grupo Ordás.
Posted December 18, 2017 at 11:00 amLloyd’s selects REG (UK) to assist in reducing administrative burden of coverholder compliance
Lloyd’s has selected REG to assist in recording data and to help reduce the administrative burden on UK coverholders.
Posted December 14, 2017 at 6:17 amBHSI introduces financial institution professional indemnity insurance in Asia
Berkshire Hathaway Specialty Insurance Company (BHSI) has introduced Professional First Financial Institution Professional Indemnity (FIPI) Insurance in Asia.