Commercial Lines News

IAG Receives Regulatory Approval for Wesfarmers Underwriting Acquisition

Insurance Australia Group Limited (IAG) announced that it has received the required regulatory approvals from the Commonwealth Acting Assistant Treasurer for its acquisition of the Wesfarmers insurance underwriting business. IAG expects to complete the transaction on June 30, 2014. Managing …

Scottsdale, Virtue Risk Partners to Offer Commercial Package Product

Scottsdale Insurance Co. has partnered with Virtue Risk Partners, LLC to offer a commercial package product. Virtue Risk Partners will offer commercial package products, including commercial general liability, professional, excess, environmental, commercial auto, and storage tank compliance coverages. The products …

Capital Insurance Group Launches Risk Mitigation Resource

Capital Insurance Group (CIG), a property and casualty insurer serving the Western United States, has launched a new, online risk mitigation platform, CIG RiskAlly. The new resource is currently available for CIG commercial, apartment and restaurant owner insurance policy clients …

Technical and Medical Device Convergence Exposes New World of Risks

When the acclaimed television drama series Homeland climaxed with a devious plot by terrorists to kill America’s vice-president by hacking into his electronic pacemaker, critics mocked the ludicrousness of the idea deeming it as simply far-fetched fiction. However, the storyline …

AIG Launches Cross-Border Casualty Risk Product for Multinational Companies

American International Group, Inc. (AIG) has launched its Global Casualty Single Solution (GCSS), a new product to cover cross-border casualty risks for U.S.-based multinational companies. The product is designed for middle market businesses with up to $700 million in annual …

ACE Expands Accelerator Portal to Construction Industry

The ACE Group has expanded its ACE Accelerator portal to allow access to construction industry clients. More specifically, the portal will now be made available to risk managers who support specialty and large general contractors and large national construction entities. …

The Hartford School Of Insurance Launches Small Commercial School

The Hartford School of Insurance has introduced a small commercial training program designed to educate new agency professionals on technical insurance and sales knowledge focused on the needs of a small business owner. According to Rick Newell, vice president and …

Ironshore’s U.S. Energy Unit Launches Endorsements for Upstream Risks

The Energy Unit of Ironshore’s U.S. Specialty Casualty unit is now offering enhanced insurance coverage endorsements for upstream energy risks as part of its ExcessProtect Plus Energy Commercial Excess Liability policy.  The suite of endorsements provides insurance coverage for energy …

Federal Insurance Office Releases Long-Awaited Modernization Report

After nearly two years of delay, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in the United States. In its report, the FIO …

Argo Surety to Issue Surety Bonds in Europe for U.S. Clients

Argo Surety, a division of Argo Group International Holdings, Ltd., now has the capability to issue surety bonds throughout the European Union (EU). Policies will be written through Argo Group’s European subsidiary, ArgoGlobal SE, which has been authorized by the …