Insured Losses for Europe’s Storm Sabine (aka Ciara) Estimated at €1.55B: PERILS March 24, 2020 The initial loss estimate for extratropical cyclone Sabine”, also known as “Ciara” and “Elsa,” is €1.55 billion (US$1.8 billion), according...
Fitch Revises Outlook for London Insurance Sector to Negative on COVID-19 Impact March 24, 2020 Fitch Ratings has revised its outlook for the underlying fundamentals of the London market insurance sector to negative from stable....
World Insurance Associates Acquires Virginia Insurance Partners March 24, 2020 World Insurance Associates LLC (WIA) has acquired Virginia Insurance Partners (VIP). The transaction was effective February 1, 2020, and terms...
Peachtree Special Risk Brokers Acquires Massachusetts’ RLA Insurance Intermediaries March 24, 2020 Peachtree Special Risk Brokers LLC, a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of...
A.M. Best Downgrades Rhode Island’s Providence Mutual March 24, 2020 The Providence Mutual Fire Insurance Co. has been dealt a financial strength rating downgrade from A.M. Best. A.M. Best said...
Swiss Re Names da Victoria Lobo as Market Executive for Western, Southern Europe March 24, 2020 Swiss Re has announced that Nikhil da Victoria Lobo, currently managing director and head of Americas for its Public Sector...
BMS Buys Spanish Specialist Insurance Broker Jurado Mata March 24, 2020 BMS Group, the independent specialist re/insurance broker, announced its Spanish subsidiary, BMS Iberia, has acquired Jurado Mata, the Granada-based Spanish...
UK Travel Insurers Expect to Pay Record Coronavirus Claims of US$319M March 24, 2020 UK travel insurers expect to pay record claims of at least £275 million (US$319 million) due to the coronavirus pandemic,...
CWCI Elects Board of Directors for 2020 March 23, 2020 Matthew Zender of AmTrust North America has been elected chair of the California Workers’ Compensation Institute Board of Directors for...
Silicon Valley Firm Seeking OK to Give Essential Workers 50% Auto Insurance Discount March 23, 2020 Silicon Valley-based insurance company Go on Monday announced it is seeking approval from state regulators to offer a 50% discount...