Commercial Lines News

V3 Insurance Offers Enhanced Auto Dealers Coverage in Western States

V3 Insurance Partners LLC of Newtown, Pa. has launched the V3 Dealer V₃antage program for non-franchised auto, truck and RV dealers. The program features garage liability, garage keeper’s liability, dealer’s open lot insurance, property, inland marine and crime cover. The …

Cunningham to Become CEO of IAT Reinsurance

IAT Reinsurance Company Ltd., the privately owned Bermuda insurer, announced that Peter R. Kellogg is retiring as chief executive officer, a position he has held since the company’s founding in the early 1980s. William Cunningham will assume the role of …

Is Ebola Compensable Under Workers’ Compensation?

Two tests must be satisfied before an illness or disease can be considered occupational and thus compensable under workers’ compensation. First, the illness or disease must be “occupational,” meaning that it arose out of the course and scope of employment. …

CareRise Granted Third U.S. Patent for Nursing Facility Risk Management

The U.S. Patent Office has issued a third patent to Tim Goux, CEO of CareRise, a risk management company based in Mandeville, La. The patent further protects the company’s business method to reduce insurance claims and losses at healthcare facilities …

ProAssurance, Pro-Praxis Introduce Excess Package for Complex Healthcare Risks

ProAssurance Corp. of Birmingham, Ala., has launched a new suite of excess insurance coverages, ProAssurance Complex Medicine, or ProCxM, for large healthcare facilities and organizations. This new package of coverages and related services will allow the company to respond more …

Swett & Crawford Expands Energy Practice Group

Swett & Crawford, headquartered in Atlanta, has formed a partnership with JH Blades, which will expand the capabilities offered by its Energy Practice Group. Operating as a coverholder and MGA, the Houston-based JH Blades underwrites upstream energy business both onshore …

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 …