Latest New Markets Headlines
All the headlines from our New Markets Topic Page, ordered by recency.
New Players Enter the E&O Market … But Some Agents May Not See Rates Decline
Nov 18 2007 // Despite a rosier outlook in the agents’ errors and omissions (E&O) insurance market compared with years past, many insurance agents still faced rate increases in their E&O coverage in 2007 and anticipate...
SafeAuto Insurance Enters Mo. Market
Nov 7 2007 // Columbus, Ohio-based SafeAuto Insurance recently announced that it is expanding its operations into the “Show Me State,” Missouri with its brand of minimum coverage insurance beginning Nov. 8, 2007. Minimum...
GIA Launches Pricing Program for Personal Auto
Nov 2 2007 // Grange Insurance Association based in Seattle has launched a new pricing program for personal auto in Colorado, Idaho, Oregon and Wyoming “GIA’s tiered auto program will position our agents to be more...
Insurance Industry Charitable Foundation Launches Firestorm Relief Effort
Nov 1 2007 // In response to the wildfire disaster in California, the Insurance Industry Charitable Foundation has established the Industry Foundation Firestorm Response on behalf of the industry and its partners. All online...
Schwarzenegger Announces Additional Assistance for Fire Victims
Oct 30 2007 // California Governor Arnold Schwarzenegger has announced cash grants of up to $10,000 are available to help some individuals who have suffered losses in the Southern California fires. The grants are administered by the...
Ironshore Enters La. E&S Market; Will Cover Property, Cat Risks
Oct 30 2007 // Louisiana insurance regulators have approved Ironshore Insurance Ltd. to provide property and catastrophe insurance in Louisiana on an excess and surplus basis for risks located in the state. The company said it would...
OneBeacon Enters Indiana Small Business Market
Oct 24 2007 // Canton, Mass.-based One Beacon Insurance Group announced Tuesday that it will begin offering property-casualty products to small-business owners in Indiana through independent agent partners. OneBeacon’s local...
Reinsurance Business of Towers Perrin Announces New Hires
Oct 23 2007 // Towers Perrin, a global professional services firm, announced that Leo Magrath, Lois Massa, Michael Brownsell and Nick DiPietra have joined the firm’s reinsurance business. Magrath has joined as an executive vice...
CAIC Enters Texas Surety Market
Oct 23 2007 // CAIC Holding Company Inc. announced it began offering surety coverages in Texas through its wholly owned subsidiary, Commercial Alliance Insurance Company (CAIC), effective Oct. 1, 2007. Sterling Emens III was appointed...
Ironshore Launches Specialty Construction Division
Oct 22 2007 // Hamilton, Bermuda-based Ironshore Inc. announced the company has entered into the specialty construction sector with the launch of its IronBuilt division. IronBuilt, based near Boston, offers construction risks protection...
Marsh UK Launches $425 Million London Market Property Facility
Oct 9 2007 // Marsh UK has arranged a property facility that will provide up to $425 million of non-catastrophe capacity in the London market for US and Canadian companies. The facility can also be adapted to provide up to $262.5...
Erie Insurance Announces Plans to Enter Minnesota Market in ’09
Sep 25 2007 // Penn.-based Erie Insurance recently announced that the company plans to write business in Minnesota beginning in the fourth quarter of 2009. . “We are looking forward to entering Minnesota because of the substantial...
Ariel Acquiring Zurich’s Valiant for Launch of U.S. Specialty Carrier
Sep 20 2007 // Bermuda-based Ariel Holdings Ltd. reports it will acquire Valiant Insurance Co. from Zurich North America Commercial Group. Ariel Holdings Ltd. said it has established a U.S. based insurance holding company, Valiant...
Wis. Capitol Launches New Specialty Markets Division
Sep 18 2007 // Middleton, Wis.-based Capitol today announced the formation of its new Specialty Markets Division. The focus of the division will be specialty property and casualty insurance programs throughout the U. S. The division will...
State Auto Announces New Affiliation with Patron Mutual Group of Conn.
Sep 13 2007 // Ohio-based State Automobile Mutual Insurance Company recently announced that it has formed a new affiliation agreement with Patrons Mutual Group of Connecticut. Under the agreement, State Automobile Mutual will assume...
RI3K Launches New London Market E-Message Service
Sep 12 2007 // London-based service provider RI3K announced the completion of its new message service for the insurance and reinsurance industry, following extensive trials to assure that “it is scalable, secure and fit for...
Texas Medical Liability Carrier Announces Rate Cut
Sep 7 2007 // Medical liability insurer Texas Medical Liability Trust (TMLT) recently approved a 6.5 percent rate reduction for all medical specialties and classes effective Jan. 1, 2008, the third straight rate reduction/dividend for...
Mich. Auto Parts Maker Delphi Announces Settlement of Fraud Lawsuit
Sep 4 2007 // Struggling auto parts maker Delphi Corp. announced on Friday, Aug. 31 that there is a settlement of lawsuits by investors who have accused the company’s former managers of fraud. The plaintiffs, including about...
Lloyd’s to Unveil New Marine Policy Contract Wordings
Aug 22 2007 // Lloyd’s announced that “experts from across the Lloyd’s and London markets are set to unveil a suite of new contract wordings for the marine market in the coming weeks and months.” Spurred by the...
Workers’ Comp Writer MEMIC Enters N.Y.; Opens Albany Office
Aug 21 2007 // Workers’ compensation insurer MEMIC has begun operating in the New York market for the first time. The company opened an office in Albany for its MEMIC Indemnity Co. subsidiary in June, and has begun offering its...
