Monthly Archives: <span>July 2020</span>

USI Closes Acquisition of Associated Benefits & Risk Consulting

USI Insurance Services (USI), headquartered in Valhalla, N.Y., has completed its acquisition of Associated Benefits & Risk Consulting (ABRC) from Associated Banc-Corp., based in Green Bay, Wisconsin ABRC is a multi-line insurance agency and Midwest-based consulting firm with 400 employees, …

First Washington Employer Cited for Ignoring Governor’s Safe Start Order

A fitness center near Yakima, Wash. is facing nearly $10,000 in fines for operating in violation of Gov. Jay Inslee’s Safe Start order. The Washington State Department of Labor & Industries cited company owner Bradshaw Development, Inc. this week after …

Just Auto in California Secures $5.7M Seed Financing Led by ManchesterStory

Los Angeles, Calif.-based SF Insuretech Inc., the parent company of Just Auto Insurance, on Wednesday announced a $5.7 million seed funding round. ManchesterStory led the round, with additional investments from CEO and Founder Robert Smithson, Crosscut Ventures and Plug & …

California Commissioner Launches Diversity Initiative, Names COIN Board Members

California Insurance Commissioner Ricardo Lara on Wednesday announced the launched an “Invest in Our Diverse Communities” initiative to identify diverse woman-, veteran-, LGBTQ, Latinx, Asian Pacific Islander, Black, and Native American-owned investment managers who can guide investments made by insurers …

Mayor in Savannah, Georgia Implements Strict Mask Policy for Businesses, Public Places

The mayor of Savannah said Tuesday he’s ordering people to wear masks inside retail shops, grocery stores and other public places – and those who refuse could face $500 fines. “Frankly and honestly, I do not believe that we have …

Hilltop Holdings Completes Sale of National Lloyds to Align Financial

Dallas-based Hilltop Holdings Inc. and Align Financial Holdings LLC (Align) announced the completion of the sale of Hilltop’s wholly owned Texas-based subsidiary, National Lloyds Corp. (National Lloyds), to Align on June 30. The transaction, which was first announced in January …

Fort Worth P/C Insurer, Hallmark Financial, Reports $34M Loss

Hallmark Financial Services Inc. (HALL) has reported a loss of $34 million in its fourth quarter. The Fort Worth, Texas-based company said it had a loss of $1.87 per share. Losses, adjusted for investment gains, were $2.01 per share. The …

Flooding in Western Wisconsin Causes Evacuations, Rescues

Some residents of a western Wisconsin village hit hard by hours of torrential rain were evacuated from their homes as floodwater lapped at their doors and motorists had to be rescued from the roofs of their partially submerged vehicles. The …

R Street Lauds Louisiana Lawmakers for Passing Auto Insurance Reform Bill

The R Street Institute, a non-profit public policy research organization based in Washington, D.C., says the Louisiana Legislature’s passage of a bill aimed at lowering high auto insurance costs represents a positive direction for insurance markets in the state. R …

Textron Aviation Cited for 2019 Explosion at Kansas Site

Federal regulators have cited aircraft maker Textron Aviation for a December 2019 explosion that injured 15 workers at its Wichita, Kansas, manufacturing plant. U.S. Department of Labor’s Occupational Safety and Health Administration says Textron had a serious violation when it …