Commercial Lines News

Texas Insured Property Losses Setting Record in 2016

Damaging hail storms and wide-spread flooding have caused record setting losses for both homes and automobiles this year in Texas, according to a state insurance trade group. This year’s insured losses for the first two quarters already surpass every year’s …

West Des Moines-Based GuideOne Insurance Cutting Jobs

Officials say a West Des Moines-based insurance company is cutting more than 70 jobs over the next 12 to 18 months. The Des Moines Register reports that GuideOne Insurance says it’s going to stop providing home and auto insurance and …

Online Agency Insureon Secures $3B in Capacity from Lloyd’s to Launch MGA for Small Business

Insureon, an online agency for small business insurance, has formed a new managing general agency (MGA), Insureon Underwriting Managers, which will operate as a division of Insurance Noodle, the company’s wholesale brokerage subsidiary. The new MGA will target hard-to-place coverage …

Autopilot Warning May Not Help Tesla in Crash Defense

Telling Tesla drivers its Autopilot feature doesn’t mean their cars can drive themselves may not be enough to keep Elon Musk off the hot seat if the technology comes up short. This month, two Teslas equipped with Autopilot veered into …

Mid-Market Firms Fall Short on Natural Catastrophe Risk Management: Assurex Global

Middle market businesses in all parts of the world view their exposures to natural catastrophes as increasing but some fall short when managing these risks effectively, according to a new survey of senior executives at more than 80 independent insurance brokers. The survey …

Commercial Rates Fell 2% in April: MarketScout

Commercial insurance prices fell 2 percent for April as compared to 3 percent in March and 4 percent in January and February 2016. Rates changed in most coverage classifications with property, business interruption, business owners (BOP), inland marine, workers’ compensation, …

Ramsey Named Commercial Lines Director for State Auto’s Western Region

State Auto Insurance Co. has selected Gayle Ramsey to lead the company’s Western Region as commercial lines regional director. She is based in Austin, Texas. Ramsey joined State Auto in 2013 as an underwriter in State Auto’s practice groups and …

Hiscox Launches E-Trading System for U.K. Commercial Brokers

After a successful pilot, Hiscox has launched Hiscox Trader, a new e-trading solution for U.K. commercial insurance brokers in partnership with insurance technology specialists Open GI London. The new cloud-based technology enables brokers to give their customers an indication of …

Deadly Floods Disrupting Agriculture, Commercial Operations in U.S. Midwest

Deadly flooding across the U.S. Midwest is disrupting everything from oil to agriculture, forcing pipelines, terminals and grain elevators to close. The floods have killed at least 30 people and shut hundreds of roads across Missouri and Illinois, according to state …

IT Workers, Doctors, Dentists Less Likely to Lose Jobs to Robots

Computer scientists, doctors and dentists are the jobs least likely to be taken by robots as automation spreads through advanced economies, according to Bank of England Chief Economist Andy Haldane. Speaking in Parliament this month, Haldane said analysis by staff …