National News

2017 Cyber Risks to Intensify as Hackers Become More Cunning: Report

Top cyber threats during 2017 are expected to include nation state cyber espionage, a rise in data integrity attacks and an increase in attacks harnessing Internet of Things (IoT) devices, according to a report published by Stroz Friedberg, an Aon …

MF Global’s Corzine to Pay U.S. Regulator $5 Million Over Firm’s Collapse

Jon Corzine, former New Jersey governor and Goldman Sachs co-chairman, will pay a $5 million civil fine to settle a U.S. regulator’s lawsuit over the 2011 collapse of his commodity brokerage, MF Global Holdings Ltd. Thursday’s accord with the U.S. …

Nation’s Largest Alliance of Independent Agencies Grows Membership Again in 2016

The largest alliance of independent insurance agencies in the United States, SIAA, or the Strategic Insurance Agency Alliance, added 441 new independent agencies to its membership roster in 2016, bringing the total number of members to more than 6,100 agencies. …

Floods, Other Major Climate Events Cost U.S. $46 Billion, 138 Lives in 2016

During 2016, the United States experienced 15 weather and climate disasters with insured and uninsured losses exceeding $1 billion each across the United States. Overall, these events resulted in the deaths of 138 people and had “significant economic effects” on …

Today’s Insurance Agency E&O Costs, Coverage and Claims

Independent agency owners spend their entire careers worrying about the risks and exposures of others. Managing the risks of their own agencies can take a backseat to helping their clients. While agents appreciate the importance of errors and omissions (E&O) coverage …

Is Soft Market Bottoming? A.M. Best Points to Some Promising Signs

Some observers believe the bottom of the reinsurance market may be in sight because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, according to a report published by A.M. Best. …

Federal Housing Agency to Lower Mortgage Insurance Premiums

The U.S. Federal Housing Administration will reduce the annual premiums on mortgage insurance on home loans the agency insures by a quarter point on Jan. 27, it said on Monday. The FHA projected homeowners it insures would save an average …

Beazley, VALE Partner on Environmental Coverage for Small, Mid-Sized Firms

Beazley has partnered with managing general agency VALE Insurance Partners to offer its environmental cover to US-domiciled firms with revenues of up to $15 million. VALE will offer the full suite of Beazley environmental products including contractors’ pollution liability, environmental …

Everest Insurance Expands U.S Property Team

Everest Insurance has expanded its property underwriting team with several key hires in the retail, wholesale and inland marine areas.  According to the insurer, joining the Everest Wholesale Property team are: Patrick Mulready has been appointed vice president of the …

Ryan Specialty Group Names Rosson Senior Vice President

Ryan Specialty Group LLC has named Charlie Rosson senior vice president. Rosson is based in San Francisco, Calif. He will work to develop RSG penetration with brokers on a national basis. He has 23 years of experience in the insurance …

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