Program Business News

JLT Re Builds Programs & Binding Authorities Division with 3 New Hires

JLT Re, the London-based reinsurance broker and consultancy, announced it is continuing to develop and diversify its Programs and Binding Authority Division with three new appointments. Mark Sleet has joined from Miller where he specialized in casualty business; Sleet has …

QBE North America Adds Fry, Remy as Specialty Program Underwriting VPs

QBE North America  announced two new underwriting vice presidents in the company’s Specialty Programs unit – Erin Fry and Bob Remy. Fry joins QBE from XL, where she was vice president and head of professional liability programs. She will be …

AIG Buys Controlling Interest in Program Manager NSM Group

American International Group Inc. has agreed to acquire a controlling stake in NSM Insurance Group, a managing general agent and insurance program administrator, from ABRY Partners and NSM management. Terms of the deal were not disclosed. The transaction is expected …

Not All Program Market Competition Is Good

The program insurance business market has enjoyed years of growth and appears on track to continue its expansion. However, while program business is attracting new interest, some participants are cautioning that not all competition is good. Program business premiums grew …

Program Business Market Grew 9.8% in 2013: TMPAA

Commercial property/casualty insurance program administrators outperformed the overall property/casualty insurance market last year. Program business premium revenues increased by 9.8 percent, reaching $30.1 billion in 2013 up from $27.4 billion in 2012. In comparison, the total P/C industry grew commercial …

Combined Group Launches Admitted Drycleaner Insurance Program

Combined Group, a wholesaler of commercial insurance based in Dallas, has released a new exclusive insurance program available for drycleaners, drycleaner plants, drycleaner receiving stations, commercial launderers, linen suppliers, uniform rental firms, coin-operated laundromats, self-service laundromats & washaterias. Combined Group’s …

CPro Associates Spin-Off Concentrating on Commercial Insurance Business

Dallas-based CPro Associates has spun off its binding authority and programs unit as a new company, B&H Risk Services Inc., headed by William E. Buckley. Buckley joined CPro in late 2013 to form and develop the new business unit. B&H focuses …

Venture Expands Cyber Liability Coverage to Hospitality Industries

Venture Insurance Programs has expanded and enhanced privacy and data breach protection for its PREFERRED CLUB program for golf and country clubs, and its Suitelife programs for hotels and resorts. The policy offers flexible, less expensive coverage for the costs …

Program Brokerage Corp. Acquires South Carolina’s Sirles

Program Brokerage Corp. (PBC), a wholesale subsidiary of insurance broker Hub International Limited (Hub), sad it has acquired the assets of Sirles Insurance Group Inc., a South Carolina-based commercial insurance brokerage firm. Terms of the acquisition were not disclosed. In …

Insurance Program Provider Energi Opens New Office in Irving, Texas

Energi, a provider of risk management and insurance programs for the energy industry, has opened a new satellite office in Irving, Texas. The new office is located in The Towers at Williams Square. Energi also plans to open an additional …