Personal Lines News

$4MM Commission – CA Preferred Personal Lines Agency For Sale by Ace Business Brokers

Santa Monica, CA, May 4, 2016 – Ace Business Brokers announces a Southern California preferred personal lines agency for sale: $4 million in commissions 16,500+ client base Retention rates in 90’s Adjusted Net income $2.9 million Portable opportunity – ideal …

AAIS Offers Its First Personal Auto Program for Insurers; Includes 60 Endorsement Options

The property/casualty insurance advisory organization AAIS has unveiled its first standardized personal auto insurance program for use by insurers that it says is the first new auto program available to the industry in decades. The American Association of Insurance Services …

One-Size Doesn’t Fit All in Today’s Evolving Homeowners Market

The homeowners insurance line, not often thought of as a bastion of change, is actually quietly evolving beyond the traditional “one-size-fits-all” business. Some of the puzzle pieces that make up homeowners insurance are changing shape and new pieces that address …

Self-Driving Cars to Create Long Term Challenges for Auto Insurers: Moody’s

Accident avoidance features in vehicles, such as automatic braking, adaptive cruise control, and lane departure prevention, are becoming more prevalent and will lead to lower accident frequency in the next five-to-10 years, a benefit for auto insurers. Longer term, self-driving …

‘Smart City’ Pilot Project to Test Tools Aimed at Reducing Accidents

The U.S. Transportation Department and NXP Semiconductors NV are joining forces in a pilot project to use communication technology to reduce congestion and speed traffic, they said on Friday. The department said in December that it would award up to …

Travelers to Offer Homeowners Insurance Discount for Smart Home Devices

The Travelers Companies, Inc. will now provide a discount on homeowners insurance for eligible customers with qualifying smart home devices. Smart smoke detectors and security systems that alert homeowners through their smartphones may qualify for the Protective Device discount from …

J.M. Wilson Adds Benda, Mandwee

Property/casualty insurance wholesaler J.M. Wilson has hired Adam Benda as claims representative and personal lines underwriter. The company also Adam Mandwee as assistant fleet underwriter in its Portage, Mich. office. Prior to joining J.M. Wilson, Benda worked as an underwriting and …

The Main Street America Group Launches Personal Auto Program in South Carolina

The Main Street America Group has introduced Main Street Protection Auto, its new private passenger auto insurance program for the preferred/standard marketplace in South Carolina via its statewide network of independent insurance agents. Product highlights include 20 different types of …

ACE Names Personal Lines Leadership Team for Overseas General Insurance

ACE Ltd. has appointed the future personal lines leadership team for the new Chubb Group’s Overseas General Insurance division. The leadership appointments will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of …

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] …