The small business market is big. The U.S. small commercial market represents about one-third of the total commercial lines market and generates between $99 billion and $103 billion in direct written premium, according to a 2016 McKinsey & Co. report. …
The driver of a Tesla Inc. Model S crashed into an unoccupied, parked police vehicle in Laguna Beach, Calif., on Tuesday and the driver told investigators the Tesla was in “Autopilot” mode at the time, police said. The driver suffered …
Insurance is complicated. I think that we all agree about that. That’s why agents, underwriters, adjusters, and regulators spend so much time reading, studying and learning. That’s why I’ve spent my insurance career in continual learning mode. By the way, …
China has made progress on reforms but should allow market forces to play a more decisive role and accelerate its opening up to the rest of the world, the International Monetary Fund said. While credit growth has slowed, it remains …
The New York Compensation Insurance Rating Board (NYCIRB), a non-governmental rate service organization, has proposed an 11.7% decrease in the overall loss cost level in New York State. The change was proposed in its 2018 loss cost filing with the …
Allianz Group has agreed to acquire eight percent in African reinsurer Africa Re. The total cash consideration payable at closing would amount to USD$ 81 million (or Euro 69 million). Africa Re has been operating for 42 years on the …
Insurance Center of New England (ICNE), a privately owned and independent insurance agency with three offices in Agawam, Gardner and Westford, Mass., has hired Lori A. Slezek as chief financial officer. In this role, Slezek will report directly to ICNE …
Narragansett Bay Insurance Company (NBIC) has named Glen Tiziani senior vice president of Sales & Distribution, effective May 21, 2018. NBIC, a Rhode Island-headquartered, wholly-owned subsidiary of Heritage Insurance Holdings Inc., offers specialty insurance services and products to homeowners through …
Monomoy Insurance Group and Rogers & Gray Insurance have launched an admitted residential homeowners product in Massachusetts through a partnership with Spinnaker Insurance Company (Spinnaker), a national property and casualty insurer. Monomoy Insurance Group was established with a goal of …
Insurance broker Aon has appointed Karl Hennessy as chief executive officer of the firm’s newly created Carrier Solutions group. The newly formed group will support and grow Aon’s network of managing general agents (MGAs) and managing general underwriters (MGUs). Hennessy …
