Commercial Lines News

Small Commercial Lines: The Good, The Bad, The Ugly

Small commercial lines is suddenly the Cinderella of the insurance industry. Previously the unwanted step child turned beauty queen being courted, pursued, and being offered dowries for marriage. Dowries and marriage are the correct metaphors because companies are clearly willing …

U.S. Home Construction Jumps 15.7% in July

U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines. Construction increased 15.7 percent in July to a seasonally adjusted annual rate of …

Employment Growth Leads to Workers’ Comp Benefit, Cost Uptick

Workers’ compensation benefits rose by 1.3 percent to $61.9 billion in 2012, while employer costs rose by 6.9 percent to $83.2 billion, according to a report released today by the National Academy of Social Insurance (the Academy). This growth in …

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 …