In Their Own Words
“I had heard of apprenticeship programs for individuals in the trades, but not for individuals in a corporate environment. I knew right away this was the right opportunity for me. … After the first week, I could see that the …
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Anticipated reinsurance rate increases for Florida-specific property insurance companies in the upcoming June 2020 renewal period potentially could pressure the more thinly capitalized companies in the market, according to an AM Best commentary released this month. In its “Florida Insurers …
Specialty Broker Shares Thoughts on Today’s Marina Market
Barbara Galgiani has spent her entire career specializing in both recreational and commercial marine industry – marinas, boat yards, hospitality, excursion boats and marine contractors. Roughly 90% of her revenue comes from this specialty. After working as an account manager …
Business Moves
National Tokio Marine, Pure Group Tokio Marine Holdings has completed the acquisition of Privilege Underwriters Inc. and its subsidiaries, known as Pure Group. The deal was announced last October. The acquisition price was $3.1 billion. The deal was completed through …
Declarations
Fair Report Privilege “The defendants’ statements were privileged; such a privilege cannot be evaded simply by relabeling a deficient claim.” — Massachusetts Supreme Judicial Court Justice Barbara Lenk stated in her opinion regarding The Massachusetts Supreme Judicial Court’s ruling that …
People & Places
National The Hanover Insurance Group has appointed Matthew S. Mitchell as president of its middle market business. He has been with The Hanover for more than 13 years. He was named chief strategy officer in 2018 and previously was president …
Why Comparing Drug Prices Drops Costs for Employers and Patients
A University of California at Berkeley study has found that a “reference pricing model” — comparing brand name and generic medications and adjusting co-pays to encourage patients to choose the lowest cost drugs — delivers “significant cost-savings that increase over …
My New Markets
Personal Umbrella – High Risk Drivers Market Detail: Indemnity Excess & Surplus Agency Inc. (www.ies-xs.com) offers personal umbrellas for high risk drivers. Eligible risks include operators with up to three violations and/or two accidents; operators of all ages; unlimited number …
More than $3M Recovered for Arkansas Insurance Consumers in 2019
The Arkansas Insurance Department’s Consumer Services Division (CSD) recovered $3,005,606 for consumers in 2019, the department said. Recoveries are dollar amounts recovered in excess of the amounts initially offered by insurance companies. CSD closed 2,320 cases in 2019 while receiving …
Amerisafe in Louisiana Reports 4Q Earnings of $34M
Amerisafe Inc. on Wednesday reported fourth-quarter earnings of $34 million. The Deridder, Louisiana-based company said it had profit of $1.76 per share. Earnings, adjusted for investment gains, were $1.70 per share. The results topped Wall Street expectations. The average estimate …