Personal Lines News

UK Broker Market ‘Stagnant;’ M&A, but No Real Growth: Finaccord Study

Two new research studies issued by market research firm Finaccord put a value of £4.64 billion [$7.234 billion] on the size of the total non-life insurance broking market in the UK in 2014, up marginally from £4.55 billion [$7.09 billion] …

ACE to Acquire Chubb in $28.3 Billion Deal

In a major transaction, ACE Limited has agreed to acquire The Chubb Corp. for $28.3 billion in cash and stock. The balance sheet’s size and strength will elevate the combined company into the elite group of global P/C insurers. As …

How the Insurance Industry Is Using Google Glass

Improved customer service may be just one benefit insurers could see by using Google Glass in their operations. Michael Clifton, vice president of Insurance for Cognizant, described some of the benefits in the company’s white paper last year, “Google Glass: …

Cell Phone Notifications Drive More Distraction: Study

Driver distraction could happen even when the driver isn’t using their cell phone. That’s according to a new study by Florida State University that found just receiving a notification on a cell phone can cause enough of a distraction to …

Auto Makers Seek to Limit Data Sharing with Tech Partners

Carmakers are limiting the data they share with technology partners Apple Inc and Google Inc through new systems that link smartphones to vehicle infotainment systems, defending access to information about what drivers do in their cars. Auto companies hope that …

SkiSafe Expands Sailboat Coverage to Live Aboard Vessels

SkiSafe insurance has broadened its underwriting guidelines for its Sailboat Insurance program to provide coverage for sailboat risks with live aboard exposures.  In addition to the clientele of sailors already utilizing the SkiSafe program for protection against vessel damage, liability …

Ironshore Launches Security Endorsement for High Net Worth Insureds

Ironshore Personal Lines is introducing a Home and Family Security Endorsement to its High Value Homeowner Program to broaden coverage for losses arising from random attacks or situations impacting high net worth families.  Designed to meet the needs of high …

Confie Acquires Colyer Insurance in San Antonio

National personal lines insurance specialist, Confie, has acquired Colyer Insurance Agency Inc. of San Antonio, Texas. Colyer Insurance has been part of the San Antonio community for over 35 years providing personal lines. Based in California, Confie has acquired and …

5 Most Misunderstood Homeowners’ Coverage Concepts

Many are unaware that the Academy of Insurance has four “skills tests” available. Of the four, the personal lines skills test has proven to be the most popular. Here is a link to all four tests. From the beginning we …

UK Regulator Asks Insurers to Provide Transparency on Coverage Costs

The UK’s financial regulator said insurance companies are not always providing clear information to consumers about whether it is cheaper to pay for coverage upfront or in installments. The Financial Conduct Authority said the industry should take action when required …