First Insurance Hawaii, AXIS
Hawaii Insurance Commissioner J.P. Schmidt announced the formation of a business association between First Insurance Company of Hawaii (FICOH) and AXIS Insurance Co. Through this program, AXIS Insurance Co. will offer hurricane insurance to new and existing FICOH homeowners and dwelling fire policyholders.
Both AXIS Insurance Co. and FICOH are rated “A” by A.M. Best. AXIS Insurance is a wholly owned subsidiary of AXIS Capital Holdings Ltd., a provider of specialty lines insurance and treaty reinsurance.
“This partnership between our oldest local insurance company, First Insurance, and AXIS Insurance Co. will bring additional world class protection to the homeowners of Hawaii,” Schmidt said. “It has been one of this administration’s long-term strategic goals to assure easier and more affordable access to hurricane and other lines of insurance to our state’s businesses and consumers.”
FICOH expects to begin transferring approximately 13,000 existing hurricane policies to AXIS Insurance over the next year as the policies come up for renewal. The process is expected to begin this fall. The policies will be issued with the same basic terms and coverage limits.
FICOH will continue to write the primary homeowners and dwelling fire coverage, and will service both the primary insurance policy and the AXIS hurricane policy. AXIS hurricane policies will only be sold in conjunction with FICOH primary homeowners or dwelling fire policies.
CRC Insurance, TB&C Wholesale
Birmingham, Ala,-based CRC Insurance Services Inc., the wholesale insurance subsidiary of BB&T, signed an agreement with TB&C Wholesale Insurance Services to combine two of the California offices of both companies. The combined offices will operate as CRC Insurance Services.
Robin Robb and Joseph Rowland, managing partners of TB&C, will combine their locations with CRC’s Santa Ana and Glendale, Calif., offices.
Robb will serve as office president for casualty in Glendale. Rowland will serve as office president in Santa Ana.
CRC also promoted James Kuchta to president for professional liability in the Glendale office.
San Francisco-based Woodruff-Sawyer & Co. formed a new Private Client Personal Insurance Division to address the individual needs of executives and corporate officers. Diane Borden was hired as private client executive. She has 30 years of industry experience.
Montana State Fund
Montana State Fund has moved into a new LEED-certified headquarters at 855 Front Street in Helena. New phone numbers are 406-495-5000. The toll-free number remains 800-332-6102.
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