Insurance Journal » Agents & Brokers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 03 Mar 2015 22:47:52 +0000 en-US hourly 1 http://wordpress.org/?v=4.1.1 Insurance Journal, Channel Harvest Launch Survey on Agent-Carrier Relationships http://www.insurancejournal.com/news/national/2015/03/03/359101.htm Tue, 03 Mar 2015 13:37:45 +0000 http://www.insurancejournal.com/?p=359101 Channel Harvest Research, in partnership with Insurance Journal, is conducting its 2015 national survey of agents’ attitudes about their carrier partners. This is the seventh annual study on key aspects of the property/casualty independent agent-carrier relationship. Agents and brokers have …

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Merger of Hyperion & RK Harrison Approved by Boards, Shareholders http://www.insurancejournal.com/news/international/2015/03/03/359083.htm Tue, 03 Mar 2015 09:12:48 +0000 http://www.insurancejournal.com/?p=359083 Hyperion Insurance Group Limited and RK Harrison Holdings Limited announced the signing of the terms of agreement for the merger of the two London-based businesses, following approval by the two companies’ respective boards and shareholders. The transaction remains subject to …

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SIAA Grew Premium to $5.7B, Signed 410 New Member Agencies in 2014 http://www.insurancejournal.com/news/national/2015/02/24/358508.htm Tue, 24 Feb 2015 20:50:19 +0000 http://www.insurancejournal.com/?p=358508 SIAA (Strategic Insurance Agency Alliance) said it grew premium by $901 million in 2014 to $5.7 billion, with 80 percent of its growth coming from existing member agencies. Premium growth with SIAA’s strategic partner companies was up more than $576 …

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Towergate Wins Creditor Support for $1.5 Billion Restructuring http://www.insurancejournal.com/news/international/2015/02/17/357561.htm Tue, 17 Feb 2015 09:34:05 +0000 http://www.insurancejournal.com/?p=357561 Towergate Finance plc said it has enough creditor support to restructure 1 billion pounds ($1.5 billion) of debt in U.K. courts. The plan was agreed by more than 75 percent of the insurance broker’s secured and unsecured debt holders, the threshold required …

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Ardian Agrees to Buy JLT’s Stake in Siaci St Honoré http://www.insurancejournal.com/news/international/2015/02/13/357390.htm Fri, 13 Feb 2015 12:42:06 +0000 http://www.insurancejournal.com/?p=357390 Jardine Lloyd Thompson Group plc announced that Ardian has agreed to buy JLT’s 26.2 percent stake in Milestone, the holding company of Siaci St Honoré, JLT’s French associate. This offer extends to all shareholders, JLT said. The transaction will be …

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Agent-Broker Profitability Reaches Record 21% for 2014: Reagan Consulting http://www.insurancejournal.com/news/national/2015/02/10/357093.htm Tue, 10 Feb 2015 18:09:39 +0000 http://www.insurancejournal.com/?p=357093 Agent-broker profitability reached 21 percent for 2014, a new record for the Reagan Consulting Organic Growth and Profitability (OGP) survey that began tracking profitability for agencies in 2008. That median profitability for EBITDA (earnings before interest, taxes, depreciation and amortization) …

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Aon Reports $3.3 Billion Q4 Total Revenue; $12 Billion FY http://www.insurancejournal.com/news/international/2015/02/09/356859.htm Mon, 09 Feb 2015 10:08:59 +0000 http://www.insurancejournal.com/?p=356859 Aon has reported fourth quarter total revenue of $3.3 billion, and $12 billion for the full year. Other highlights for the fourth quarter include the following: – Organic revenue growth of 6 percent – Operating margin increased 320 basis points …

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U.K.’s Towergate Creditors to Take Over Company in Debt Restructuring http://www.insurancejournal.com/news/international/2015/02/02/356043.htm Mon, 02 Feb 2015 10:38:28 +0000 http://www.insurancejournal.com/?p=356043 Towergate Finance plc said it reached an agreement with creditors to restructure more than 1 billion pounds ($1.5 billion) of debt in exchange for control of the company. The deal will cut the insurance broker’s net obligations by more than …

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Jardine Lloyd Thompson Announces Senior Employee Benefit Appointments http://www.insurancejournal.com/news/international/2015/01/30/355965.htm Fri, 30 Jan 2015 14:47:02 +0000 http://www.insurancejournal.com/?p=355965 London-based Jardine Lloyd Thompson Group plc announced several senior management appointments within its UK Employee Benefits business and JLT Asia. These appointments are subject to obtaining the appropriate regulatory approvals, where required. Mark Wood is retiring from his role as the CEO …

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Towergate Creditors Seeking Takeover With $1 Billion Debt Swap http://www.insurancejournal.com/news/international/2015/01/16/354265.htm Fri, 16 Jan 2015 12:01:57 +0000 http://www.insurancejournal.com/?p=354265 Towergate Finance Plc’s creditors are offering to cancel 715 million pounds ($1 billion) of debt in exchange for control of Europe’s largest insurance broker. The company’s senior secured creditors also propose writing off the accrued interest, according to a statement from Moelis …

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ACE Launches Middle Market Insurance Solution for Continental Europe http://www.insurancejournal.com/news/international/2015/01/15/354127.htm Thu, 15 Jan 2015 12:11:58 +0000 http://www.insurancejournal.com/?p=354127 ACE Group has launched ACE Middle Market Solutions, an enhanced proposition for brokers and clients, designed to help continue building its position in the middle market segment in key Continental Europe insurance markets. The launch follows ACE’s research during 2014, …

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A.M. Best: Reinsurers Need Underwriting Discipline in Competitive Market http://www.insurancejournal.com/news/international/2015/01/14/354005.htm Wed, 14 Jan 2015 14:50:12 +0000 http://www.insurancejournal.com/?p=354005 Increasing competition and lower underwriting margins in the reinsurance market highlights the importance of disciplined underwriting, according to an A.M. Best briefing entitled “Global Reinsurers: Who Will Gain Despite All the Pain?” “The market is expected to remain challenging in …

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Paris Terror Attacks Not Unexpected; Demand for Political Risk Cover Is Up http://www.insurancejournal.com/news/international/2015/01/14/353997.htm Wed, 14 Jan 2015 08:42:07 +0000 http://www.insurancejournal.com/?p=353997 Terrorism, security and political risk experts from Willis provided some broad observations about last week’s terror attacks in Paris and how insurance buyers are responding. “The tragic events in Paris are a continuation of a pattern that has been proliferating …

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Canada’s Cowan Insurance Group Acquires The Williamson Group http://www.insurancejournal.com/news/international/2015/01/06/351830.htm Tue, 06 Jan 2015 18:10:53 +0000 http://www.insurancejournal.com/?p=351830 Cowan Insurance Group, a Canadian insurance brokerage and consulting operation, has acquired The Williamson Group, a financial services company focused on providing employer sponsored benefits, pensions and disability management programs, as well as individual financial services. Terms of the acquisition …

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Most Popular Insurance Journal South Central Stories of 2014 http://www.insurancejournal.com/news/southcentral/2014/12/31/351456.htm Wed, 31 Dec 2014 16:04:31 +0000 http://www.insurancejournal.com/?p=351456 Fraud, higher homeowners rates, fracking, and electronic traffic tickets are topics that drove readers to the following stories on InsuranceJournal.com in 2014. The following 10 stories led as the most popular picks by readers in the South Central region. Workers’ …

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Arocha to Lead Cooper Gay’s Business Production in Venezuela http://www.insurancejournal.com/news/international/2014/12/24/351095.htm Wed, 24 Dec 2014 09:55:22 +0000 http://www.insurancejournal.com/?p=351095 Cooper Gay Swett & Crawford (CGSC), the global reinsurance, wholesale and specialty broker, has appointed Rafael Arocha as head of Cooper Gay’s business production in Venezuela with immediate effect. He is based at Cooper Gay’s regional headquarters in Miami and report …

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V3 Partners Adds Berkshire’s National Liability to Online Workers’ Comp Program http://www.insurancejournal.com/news/national/2014/12/22/350194.htm Tue, 23 Dec 2014 03:20:16 +0000 http://www.insurancejournal.com/?p=350194 V3 Insurance Partners LLC  has enhanced its workers’ compensation program, adding National Liability & Fire Insurance Co., a Berkshire Hathaway Group company, as a new market. Now available in additional states with more class codes, V3iConnect Comp – a web-based …

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OneBeacon Launches Environmental Website for Producers, Clients http://www.insurancejournal.com/news/national/2014/12/18/349380.htm Thu, 18 Dec 2014 11:00:48 +0000 http://www.insurancejournal.com/?p=349380 OneBeacon Environmental, a member of Hamilton, Bermuda-based OneBeacon Insurance Group Ltd., has launched a new website, www.onebeaconenvironmental.com, featuring overviews of product lines, classes of business, and industry products for specific types of businesses with environmental risks. Through the site, customers and …

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Online Dovetail Offers MetLife Business Owners Policy in 5 States http://www.insurancejournal.com/news/national/2014/12/17/349373.htm Wed, 17 Dec 2014 11:00:58 +0000 http://www.insurancejournal.com/?p=349373 Columbia, S.C.-based Dovetail Insurance, a supplier of cloud-based insurance products for agents and brokers, is offering a MetLife Business Owners Policy (BOP) through its NetBOP Insurance Portal in five states: California, Illinois, Indiana, North Carolina and Ohio. The company said …

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Hiscox PRO Adds Admitted Policies, New Coverages http://www.insurancejournal.com/news/national/2014/12/10/348708.htm Wed, 10 Dec 2014 11:00:44 +0000 http://www.insurancejournal.com/?p=348708 Hiscox has launched enhancements to its Hiscox PRO suite of insurance coverages for professional liability, encompassing a wider variety of professions with new admitted policies for technology, miscellaneous professional, privacy/data breach, home healthcare and standalone general liability products. The additions …

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Allianz Business Services Limited Joins Willis Commercial Network http://www.insurancejournal.com/news/international/2014/12/10/349470.htm Wed, 10 Dec 2014 10:35:33 +0000 http://www.insurancejournal.com/?p=349470 Willis Group Holdings announced that the Allianz-owned company, Allianz Business Services Limited (ABSL), trading as Premierline, has joined the Willis Commercial Network (WCN). Lancaster-based ABSL joins WCN as part of a deal that includes the sale of Willis’s Businesscare business …

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Brokerslink Appoints Gooch to Drive Business Development http://www.insurancejournal.com/news/international/2014/12/10/349468.htm Wed, 10 Dec 2014 10:20:33 +0000 http://www.insurancejournal.com/?p=349468 Independent insurance broker network Brokerslink has appointed Corey Gooch as its first director of business development. As part of the executive team, he will help drive Brokerslink’s growth by working with its broker members to introduce new clients and identify …

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ACE Westchester Extends Its Product Recall Insurance to Small Businesses http://www.insurancejournal.com/news/national/2014/12/05/348278.htm Fri, 05 Dec 2014 11:00:53 +0000 http://www.insurancejournal.com/?p=348278 ACE Westchester has launched ACE Recall Plus for Small Business, a product that offers  product recall coverage and crisis management services to the small business market segment. The move follows an increase in the frequency and cost of product recalls …

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FranchisePerils Launches Multiline Product for Franchisors http://www.insurancejournal.com/news/national/2014/12/04/348282.htm Thu, 04 Dec 2014 11:00:41 +0000 http://www.insurancejournal.com/?p=348282 Los Angeles-based FranchisePerils, a division of ExecutivePerils Inc., has launched FranchisorSuite, a comprehensive five-in-one insurance policy written exclusively for franchisors. Tthe policy is designed to protect franchisors against the most common lawsuits filed by franchisees, investors, government agencies and their …

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Chubb Survey: Attic Storage Can Cause Homeowner Grief, Hazards http://www.insurancejournal.com/news/national/2014/12/04/348722.htm Thu, 04 Dec 2014 11:00:27 +0000 http://www.insurancejournal.com/?p=348722 Homeowners who don’t pay attention to what’s going on in their attics can face costly damage that can spread throughout their entire home, warns a new survey sponsored by the Chubb Group of Insurance Companies. According to the survey of …

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Hub International Acquires Canada-Based MGA Partners http://www.insurancejournal.com/news/international/2014/12/04/348898.htm Thu, 04 Dec 2014 09:19:46 +0000 http://www.insurancejournal.com/?p=348898 Hub International Limited, a global insurance brokerage, announced that its subsidiary Hub Financial Inc. has acquired the shares of MGA Partners Inc., an Ontario Canada-based managing general agency. Terms of the acquisition were not disclosed. The acquisition broadens Hub’s footprint …

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XL’s New Standalone Terrorism Policy Addresses TRIPRA Gaps http://www.insurancejournal.com/news/national/2014/12/03/348743.htm Wed, 03 Dec 2014 15:00:00 +0000 http://www.insurancejournal.com/?p=348743 XL Group’s U.S. Crisis Management business has introduced a new standalone terrorism insurance policy intended to help U.S. businesses address potential gaps in coverage provided by the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA). With TRIPRA reauthorization still in question …

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Towergate’s Secured Creditors Said to Hire Moelis for Debt Talks http://www.insurancejournal.com/news/international/2014/12/01/348530.htm Mon, 01 Dec 2014 13:38:50 +0000 http://www.insurancejournal.com/?p=348530 Towergate Finance plc’s secured bondholders hired Moelis & Co. as advisers as they prepare for talks with the U.K. insurance broker about its $1.6 billion of debt, according to two people familiar with the mandate. Investors in the company’s 248.6 million pounds …

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Liberty Mutual Offers Cyber Cover for Small, Mid-Sized Businesses http://www.insurancejournal.com/news/national/2014/11/30/347946.htm Mon, 01 Dec 2014 00:57:00 +0000 http://www.insurancejournal.com/?p=347946 Liberty Mutual Insurance has launched cyber coverages on its commercial package products and monoline general liability policies for small- to mid-sized businesses. The new Data Security endorsement provides four optional coverages, each with separate and varying aggregate limits, sub-limits, and …

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AssureStart Online Small Business Insurance Now Sold in California http://www.insurancejournal.com/news/west/2014/11/24/347815.htm Mon, 24 Nov 2014 16:21:28 +0000 http://www.insurancejournal.com/?p=347815 AssureStart, a Seattle-based online small business insurance provider, is now open for business in California. AssureStart sells business property and general liability insurance on the Internet to small businesses with fewer than 30 employees. By answering a few questions on …

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