AM Best has revised its outlooks to stable from negative and affirmed its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” (Excellent) for the members of Barnstable Group, which includes Barnstable County Mutual Insurance Co. …
Digital home insurance company Kin Insurance, Inc. and Omnichannel Acquisition Corp., a special purpose acquisition company, announced they have mutually agreed to terminate their plan to merge. The parties cited “current unfavorable market conditions” for the termination. In December, Kin, …
While some insurance firms are pulling out of the troubled Florida property insurance market, Orchid Underwriters Agency is expanding its role in coastal states by partnering with R&Q Accredited, the companies announced this week. “The frequency of severe coastal events …
Home-coverage startup Kin Insurance is in talks to go public via Omnichannel Acquisition Corp., a special purpose acquisition company led by recurring “Shark Tank” guest judge Matt Higgins, according to people with knowledge of the matter. The combined entity is …
Confie Seguros, a Huntington Beach, California-based national provider of personal lines insurance, has acquired three insurance brokerages. Among these additions is Bower Insurance, an agency in Lockport, New York, providing auto, homeowners and small commercial insurance to the western New …
Frontline Insurance has launched a new rental home insurance product for owners of rental property in South Carolina. The coverage protects non-owner occupied properties in coastal areas and offers protection from fire damage and the owner from legal liability. Coastal …
Frontline Homeowners Insurance, a coastal-focused insurer, is now offering wind and flood coverage to Alabama residents with coastal properties in Mobile and Baldwin Counties. Frontline Homeowners Insurance offers a contractors assist program as part of its coverage, which manages the …
In a meeting on March 25, the board of directors of Texas’ insurer of last resort in coastal areas is expected to discuss the organization’s dire financial condition and the possibility of placing the organization into receivership. According to the …
A bill has been filed that would drastically change the structure and/or funding for Texas’ insurer of last resort for wind and hail along the coast. Senate Bill 18 by Sen. John Corona would create the Texas Property Insurance Program, …
Alabama homeowners insured by the state’s property insurer of last resort are paying less after the insurer implemented its first rate decrease in three years. The Alabama Insurance Underwriting Association last month called for an average 6.2 percent rate cut, …
