Articles by Andrew G. Simpson

QBE Selling U.S. Agency Businesses to Alliant for $300M

QBE Insurance Group Ltd. of Australia is selling its U.S. agency businesses to California-based Alliant Services Inc. for about $300 million and exiting the distribution business. The agencies being bought by Alliant include Community Association Underwriters (CAU), Deep South Insurance …

Google Poised to Enter U.S. Auto Insurance Market: Report

Giant search engine Google, which already offers auto insurance online in the United Kingdom, could soon be selling auto insurance online in the U.S. Google Compare Auto Insurance Services Inc., its online auto insurance shopper, has been licensed to sell …

Senate Expected to Follow House, Approve Terrorism Insurance Renewal

Supporters of renewing the federal terrorism reinsurance program are optimistic that the Senate will follow the House and approve it, however the exact day and time of the Senate vote this week remains unclear. In addition to dealing with the …

Smaller Firms Showing Interest in Cyber Liability Coverage: Aspen’s Vitale

Cyber liability insurance isn’t just for large corporations anymore. Demand for cyber liability insurance is now coming from middle-sized and small businesses, according to an insurance CEO who believes the market potential is tremendous. “Now we see many, many what …

InsureZone Agency Network Enters Florida, Offering Markets

Fort Worth, Texas-based InsureZone, a national brokerage and agency network, has launched operations in Florida. The new operation, Florida InsureZone Direct (IZD), is targeting small-to-midsized insurance agencies, offering them markets, tools and support to help them compete with larger brokers …

Removing Barriers to More Private Flood Insurance

A House Financial Services subcommittee recently held hearing to focus attention on legislation sponsored by two Florida representatives who want to encourage more flood insurance sales by private insurers as an alternative to policies sold by the National Flood Insurance …

Hypothetically, Here’s How to Respond to a Data Breach

How an organization responds within 72 hours of a data breach can be critical. Take the case of GlobalMart, a hypothetical Boston-based international company that has had a hypothetically horrendous 2014, ricocheting from one data security crisis to another. The …

Insurers Win Case to Kill HUD Disparate Impact Rule

Property/casualty insurer trade groups won a court victory Monday when a federal judge ruled in their favor that the U.S. Fair Housing Act does not prohibit housing practices including the pricing of homeowners insurance that have a disparate impact on …

Rule Addresses Lenders’ Flood Insurance Escrowing, Mandate Exemptions

Five federal regulatory agencies are seeking comment on a proposed rule pertaining to loans secured by property located in special flood hazard areas. The rule, part of a broader proposal first offeerd last October, would implement provisions of the Homeowner …

ACE’s Greenberg Says TRIA Inaction ‘Shameful’; Defends Ebola Underwriting

The failure of Congress to renew federal terrorism reinsurance legislation is “shameful” because both political parties know it needs to be done and their differences are minor, an insurance executive said today. Evan G. Greenberg, chairman and CEO of ACE …