commercial insurance News

Southland Man Sentenced for Grand Theft After Posing as Insurance Agent

A Southern California man has been sentenced for grand theft for posing as a licensed insurance broker, selling insurance to commercial truckers and then pocketing premiums. Cristian Raul Videla, 34, of Van Nuys, Calif., pleaded no contest this week to …

UK’s Insurance Act May Lead to More Intense Rate Competition: Fitch Wire

A new U.K. law, designed to make it harder for insurers to dispute commercial insurance claims, could lead to more intense price competition and slimmer margins for the sector, according to Fitch Ratings. The Insurance Act, due to take effect …

Gridiron Insurance Releases Nationwide Small Business Program Platform

Gridiron Insurance Underwriters Inc., a program manager that specializes in program business on a regional and national basis, has launched a new platform product designed for small businesses. Gridiron Insurance Underwriters’ Gridiron Package Select (GPS) is a fully automated program …

IDT911 Enhances Data Breach Services for Commercial Insureds

IDT911 has enhanced its DataRiskStages data breach mitigation and remediation service for insurance companies and their commercial policyholders. The DataRiskStages platform has been enriched with three new features: Ins.breachresponse.com to help avoid and manage a breach, CyberClaims911  for more efficient …

ACE Takes 24% Stake in CoverHound’s Online Commercial Insurance Plans

CoverHound has raised $33.3 million in a financing round led by ACE Group, which the company plans to use to build an online commercial insurance platform starting with businessowners policy insurance offerings that could be available next year. San Francisco, …

Flooding Hampers Commerce on Arkansas River System

Drenching rains and flooding over the past two months have greatly reduced barge traffic along the 455-mile McClellan-Kerr Arkansas River Navigation System and dented the finances of companies that depend on the waterway. The navigation system stretches from Catoosa, Okla., …

Allianz Global Corporate & Specialty Names Kadow as Chief Agent for Canada

Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), has appointed Ulrich Kadow as chief agent for Canada effective immediately. Based in Toronto, Kadow will lead AGCS’s commercial insurance business in Canada and will report to Arthur Moossmann, president and …

Texas Takes Up Comprehensive Ridesharing Bill

Ridesharing giants Lyft and Uber left San Antonio in their rearview mirror after the nation’s seventh largest city restricted their operations, instead shifting their focus — and money — on convincing Texas lawmakers to allow them to operate statewide with …

5 Accused in Houston-Area Truck Crash ATM Theft

Five individuals are facing aggravated robbery charges after police in suburban Houston arrested them for allegedly robbing an ATM from a gas station. Police in Humble say several men used a stolen truck to ram into the side of the …

California Surplus Lines up Considerably in 2014, Report Shows

Premiums for California wholesalers rose considerably in 2014 from a year earlier, showing that segment of the industry outperformed the rest of the state’s economy, according to a report from the Surplus Lines Association of California. For 2014 there was …