Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
How Broker Specialization Will Revolutionize Customer Experience: Viewpoint
Jan 23 2020 // In today’s landscape, forward-thinking agencies and brokers should avoid taking a one-size-fits-all approach by only targeting the general insurance market. The market is heading toward specialization, and the next...
The Hilb Group Acquires New York’s BR Vital Brokerage
Jan 23 2020 // The Hilb Group LLC (THG) has acquired New York-based BR Vital Brokerage Inc. (BRV). The transaction became effective January 1, 2020. Based in Brooklyn, N.Y., BRV is an independent brokerage primarily providing property...
Ratings Agencies Disagree Over Financial Strength of Florida Family Insurance Co.
Jan 23 2020 // The credit ratings of homeowners insurer Florida Family Insurance Co. and its subsidiary, Florida Family Home Insurance Co., have been downgraded by AM Best due to a deterioration in underwriting results for the insurer....
J.C. Flowers Considers Sale of Its French Loan Insurance Broker CEP
Jan 23 2020 // J.C. Flowers & Co, the U.S. investment and financial services-focused private equity firm, is reviving plans for a potential sale of its French loan insurance broker Financiere CEP, according to people familiar with...
State of Insurance Agency E&O Insurance Market: Managing Rates and Risks
Jan 23 2020 // Agency errors and omissions (E&O) coverage is likely the most important insurance policy an agency purchases. As customer demands rise to an all-time high, having the right E&O coverage and ensuring best practices...
Massachusetts’ Sayata Labs Hires King Flynn as Head of Insurance
Jan 22 2020 // King Flynn has joined Sayata Labs, a Boston, Mass.-based, Axa-backed insurtech startup, as head of Insurance. Sayata helps insurance carriers and brokers accelerate their mid-market cyber business while simultaneously...
Former Iowa Agent Sentenced to Federal Prison for Fraud
Jan 22 2020 // A Muscatine, Iowa, insurance agent has been sentenced to 18 months in federal prison for wire and mail fraud. Federal prosecutors for Iowa said that Ashley Erin Murphy Schneider, 37, was sentenced Thursday in...
Alabama Agencies Ordered to Pay $540K in Back Wages to Disabled Workers
Jan 21 2020 // A recycling center that employs adults with intellectual disabilities in Alabama should have paid hundreds of thousands of dollars to its workers, federal labor officials said. The U.S. Department of Labor recently...
Wolf Promoted to President of Big I Advantage, Replacing Departing Buse
Jan 21 2020 // Mark Steven Wolf is the new leader of Big I Advantage, replacing Paul Buse who is moving on after more than 21 years with the company. Wolf is now president of Big I Advantage, IIAA Agency Administrative Services, IIAA...
New Minority-Led Broker Protecdiv Shoots for $100M Within 5 Years, Record Diversity
Jan 21 2020 // A minority-led insurance and reinsurance broker has launched with ambitious goals of achieving $100 million in revenue within five years and having the most diverse workforce in the industry. Protecdiv, based in...
Catapult Insurance Promotes King, Adds Fisher to Executive Team in Dallas
Jan 17 2020 // Catapult Insurance Solutions, a privately held managing general insurance agency and wholesale brokerage based in Dallas, has promoted Becky King to vice president of Underwriting and product manager, and added Steve...
Keystone Signs Minnesota Agencies Cartier, Moores Insurance Management
Jan 16 2020 // Keystone Insurers Group (Keystone) has signed on two new pioneer partners in Minnesota: Cartier Agency of Duluth and Moores Insurance Management of St. Paul. The agency partnership group said the signing of the two new...
Renaissance Alliance Insurance Services Adds Five New Agencies to Its Network
Jan 16 2020 // Renaissance Alliance Insurance Services, a national membership alliance for independent insurance agencies, has announced that five independent insurance agencies joined its network. New member agencies are in...
Santarelli to Head Maryland’s Newly Formed Wye River Insurance Brokerage
Jan 15 2020 // Wye River Insurance, based in Baltimore, Md., has announced leadership appointments for the newly-formed insurance brokerage serving real estate and construction professionals in the multifamily industry. Long-time...
Captive Insurance Agents Turning Independent: How to Choose New Software
Jan 15 2020 // There’s a storm brewing for many captive insurance agencies and their agents, and that storm may be lengthy. As an example, Nationwide is one of a number of captive insurance companies actively converting their...
U.K. Broker Tysers Invests in Bermuda-Based MGA, Helix Underwriting Partners
Jan 15 2020 // Tysers, the London-based broker, announced it has taken a minority investment in Bermuda’s newly formed and first independent managing general agent Helix Underwriting Partners Ltd. “As we enter the 200th year...
2019 Agents of the Year
Jan 13 2020 // Welcome to Insurance Journal’s Agents of the Year report. This report features 20 agents who define what it means to be a successful independent agent today. These agents are more than top sellers. While they have...
Arthur J. Gallagher & Co. Takes 100% Stake in Capsicum Reinsurance Brokers
Jan 13 2020 // Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced it increased its stake in Capsicum Reinsurance Brokers from 33% to 100%, effective Jan. 1, 2020. Financial details of the transaction were...
Gallagher Buys 60% Stake in Caribbean-Based Broker, Risk Management Services Ltd.
Jan 13 2020 // Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced it has acquired a 60% interest in Caribbean insurance broker Risk Management Services Ltd. (RMS). Terms of the transaction were not...
January 2020 Reinsurance Renewals Varied Significantly, Brokers Say
Jan 13 2020 // The January 2020 reinsurance renewals saw significant variation in pricing and capacity depending on geography, line of business, cedents’ loss record and client relationships, according to two reports published by...
