Commercial Lines News

MacNeill Group Selected to Grow Commercial Property and Casualty Business

Sunrise, FL, February 27, 2015 – MacNeill Group, a wholly-owned subsidiary of Team Focus Insurance Group (Team Focus), and a licensed managing general agent (MGA) specializing in commercial, personal, transportation and flood lines of property and casualty (P&C) insurance, is …

Western Security Surplus Enlists Tania V. Strickland to Head New San Antonio Office

Plano, TX, February 23, 2015- Kyle Stevens, President/CEO of WSS announced that the company has hired Tania Strickland as a new Senior Broker and Regional Vice President. Strickland will be heading a new Central Texas office located in San Antonio, …

Agent-Broker Profitability Reaches Record 21% for 2014: Reagan Consulting

Agent-broker profitability reached 21 percent for 2014, a new record for the Reagan Consulting Organic Growth and Profitability (OGP) survey that began tracking profitability for agencies in 2008. That median profitability for EBITDA (earnings before interest, taxes, depreciation and amortization) …

Atlas General, Rockingham Group Partner on New Commercial Lines Programs

Atlas General Insurance Services, LLC, a national multi-line program manager, has partnered with The Rockingham Group to offer three exclusive new programs: general contractors general liability, artisan contractors general liability and commercial multi-peril package programs. Atlas General and the Rockingham …

USI Insurance Services Launches Terrorism Insurance Underwritten by Lloyd’s

USI Insurance Services has launched a new terrorism insurance product to address the expiring Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which ends Dec. 31. Unlike TRIPRA however, USI’s Terrorism Facility Solution, which is underwritten by Lloyd’s of London, covers …

Top 10 Casualty Insurance Trends for 2015: Marsh

While casualty insurance rates remain stable overall and new capacity continues to enter the market, certain classes of business continue to be difficult to place, according to Marsh’s U.S. Casualty Practice. The following report outlines 10 key trends that Marsh …

Arch Insurance Europe Buys Resource Underwriting Pacific in Australia

Arch Insurance Europe has acquired 100 percent of Resource Underwriting Pacific Pty Ltd (RUPPL), the Melbourne-based MGA. RUPPL will be added to Arch Insurance Europe’s current holdings in Australia. James Weatherstone, Arch Insurance Europe chief executive, said: “We are delighted …

Commercial Rates Continue on Slow Slide; Personal Lines Rates Moderate: Survey

The composite rate for U.S. commercial insurance was plus 1 percent in October 2014 while the composite rate for U.S. personal lines was plus 3 percent for the month, according to MarketScout’s monthly analysis of market conditions. “As expected, the …

Prices Start to Stabilize in UK Auto Market

Direct Line Insurance Group plc Chief Executive Officer Paul Geddes said the company had started to see prices stabilize in the U.K.’s competitive motor insurance market. Prices for its auto business were unchanged in the three months to Sept. 30, the Bromley, England-based insurer …

The Hartford Offers Safety Rewards, Discounts for Commercial Auto

The Hartford is offering small and midsize businesses the opportunity to receive commercial auto insurance premium discounts and rewards for safety. The company has also expanded its quoting system for agents and brokers to include small commercial auto coverage. The …