Latest New Markets Headlines
All the headlines from our New Markets Topic Page, ordered by recency.
Willis Unit Launches Piracy Prevention, Management Coverage Plan
Mar 4 2009 // Willis announced that its London-based Special Contingency Risks Limited (SCR) unit, a division of Faber & Dumas, the third-party wholesale insurance broker, and Underwater Security Consultants Limited trading as...
Ace Europe Launches New Program for Sprinkler Protected Property
Mar 3 2009 // ACE Europe has launched ACE Protect, a new property coverage aimed at companies which have installed sprinkler fire extinguishing systems in their premises. ACE said the new coverage “offers training and risk...
AAA Texas Unveils Guaranteed Rebuilding Cost Coverage Endorsement
Feb 17 2009 // AAA Texas announced that a new Guaranteed Rebuilding Cost (GRC) optional endorsement is now available for qualifying homeowners from its affiliated carrier, the Auto Club Indemnity Company. The GRC optional endorsement...
Study Unveils Target Areas for Flood Policy Sales
Feb 8 2009 // But Selling More at Subsidized Premiums Could Sink Flood Program There are a number of communities across the country where more flood insurance policies should be sold given their populations and flood risk. They include...
Texas Announces December Insurance Industry Enforcement Actions
Feb 3 2009 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during December. The actions include five license revocations, three license denials and fines and...
Coal Industry Group Launches Mine Safety Effort
Jan 14 2009 // The National Mining Association is launching a new campaign it hopes will help keep underground coal miners safe. The “Stay Away, Stay Alive” initiative is aimed at reducing accidents and deaths related to...
FEMA Announcs $10 Million in Flood Recovery in Eastern Iowa
Dec 29 2008 // FEMA has announced it will give more than $10 million for flood-recovery projects in eastern Iowa. Projects in Lake Delhi, Iowa City, Anamosa, Bluffton and Cedar Falls will split the FEMA dollars. Among those receiving...
Validus Enters Technical Lines Property Coverage with New Underwriter
Dec 23 2008 // Bermuda-based Validus Holdings, Ltd. announced today that it is expanding its business into Technical Lines Property insurance through the creation of Validus Underwriting Risk Services Inc. (VURS), a managing general...
Obama Inauguration May Raise Insurance, Legal Issues for Enterprising Homeowners
Dec 2 2008 // The days leading up to the inauguration of Barack Obama could be an economic windfall for residential property owners in and around D.C. Washington Post staff writer David Nakamura reports that droves of people are looking...
Aon Launches New Global Specialty Business Unit
Dec 2 2008 // Following the closing of its acquisition of the UK-based Benfield Group, Aon has announced that it has created a new global specialty business unit – Aon Specialty. The bulletin described the new operation as...
D&O Insurance Marketplace Entering a Transitional Phase
Nov 30 2008 // As Credit Crisis Ripples Through Economy, Competitive Conditions Could Be Shifting The growing wave of subprime-related litigation is among the many side effects of the subprime mortgage meltdown. The litigation wave has...
California Announces 2009 Workers’ Comp Insurance Assessment Rates
Nov 21 2008 // The California Department of Industrial Relations (DIR) has issued 2009 assessment rates for User Funding, the Uninsured Employer Benefit Trust Fund, the Subsequent Injury Benefit Trust Fund, the Occupational Safety &...
RLI Launches Design Professionals Liability Unit
Nov 14 2008 // Peoria, Ill.-based RLI Corp. launched an architects and engineers (A&E) professional liability division – named RLI Design Professionals. RLI Design Professionals will be led by Louis Leonard “Lenny”...
Travelers Launches New Professional Liability Coverage Program
Nov 12 2008 // Travelers said it has introduced a new, modular professional liability product, 1st Choice+, geared toward accounting, design, legal and real estate professionals. The product offers errors and omissions coverage in one...
Advocacy Group Launched to Assist Existing Louisiana Businesses
Nov 7 2008 // The Louisiana Department of Economic Development (LED) is moving forward with the creation of a Business Retention and Expansion (BRE) Group that will focus solely on addressing the challenges and opportunities of...
California Commissioner Announces 5% Workers’ Comp Rate Increase
Nov 2 2008 // Rejecting the Workers Compensation Insurance Rating Bureau’s (WCIRB) call for a 16 percent increase in the benchmark for determining workers’ compensation costs, California Insurance Commissioner Steve Poizner...
Steamship Mutual Launches Luxury Yacht Liability Insurance Product
Oct 28 2008 // London-based Steamship Mutual, a leading P&I Club providing marine liability insurance worldwide, announced that it is launching a new Yacht Liability insurance product for luxury super and mega yacht owners,...
West Virginia-based BrickStreet Launches Out-of-State Coverage
Oct 28 2008 // BrickStreet Mutual Insurance Co., headquartered in West Virginia, will expand its services in 2009 by offering to provide its West Virginia policyholders with workers’ compensation coverage in other...
Survey: P/C Premiums Decline Again as Industry Enters ‘Uncertain Times’
Oct 27 2008 // Commercial property/casualty premiums continued a downward slide during the third quarter of 2008, but there were suggestions the market decline may have leveled off, at least between July and September, for small and...
Venture Launches Coastal Property Coverage Under New Facility
Oct 24 2008 // West Chester, Pa.-based Venture Insurance Programs, a national program administrator, will offer coastal property coverage under a new CATalyst Property Insurance brokerage facility. CATalyst will support each of...
