Personal 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 …

American Integrity Insurance Launches Umbrella Coverage for Florida Homeowners

Tampa-based American Integrity Insurance Co., a Florida property insurance company, has launched a new umbrella policy for Florida consumers and property insurance policyholders. The new coverage offers up to $5 million in protection. Umbrella coverage is designed to help protect …

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 …

NFP Completes Sale of Majority Stake in Kestra Financial to Stone Point Capital

NFP, an insurance broker and consultant, has completed the sale of a majority stake in Kestra Financial (Kestra) to funds managed by Stone Point Capital LLC (Stone Point), a private equity firm focused on investing in the financial services industry. …

Main Street America Group Expands Private Passenger Auto Coverage to Conn., N.H.

The Main Street America Group has expanded its private passenger auto insurance program to Connecticut and New Hampshire. Highlights of the Main Street Protection Auto program, which was first launched in South Carolina and Virginia last fall, include a lineup …

Confie Buys Automobile Insurance Specialists, Trinity Insurance & Whitehead Insurance

Editor’s Note: This announcement has been updated to correct the name – Automobile Insurance Specialists Inc., based in Las Vegas. Confie has acquired three insurance agencies in Las Vegas, South Florida, and Washington State. Confie acquired the assets of: Automobile Insurance …

$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 …