National News

Nationwide’s Transition to Independent Agency Insurance Company Complete

Nationwide says the process of transitioning the company to operate as an independent insurance agency carrier is complete, effective July 1. For the past 18 months, the Columbus, Ohio-based insurer has been working on the transition. The company says more …

Brit Global Specialty USA Transfers Renewal Rights for Cargo Business to Falvey Cargo

Brit Global Specialty USA will transfer the renewal rights for its cargo business to Falvey Cargo Underwriting, effective July 2. As part of the deal, Will Frohne and Yasu Saegusa will move from Brit to Falvey Cargo as underwriters. Brit …

Data and Analytics Firm CoreLogic Weighs Unsolicited Acquisition Bid

Data and analytics firm CoreLogic disclosed it has received an unsolicited acquisition bid from an investment firm and hedge fund. Cannae Holdings and Senator Investment Group offered to acquire all outstanding common shares of the company for $65 per share …

Liberty Mutual Re Taps Steiner from RenRe for U.S. Casualty Treaty Team

Liberty Mutual Re (LM Re), part of Liberty Mutual Insurance Group, has appointed Sara Steiner to the role of vice president and director of Assumed Reinsurance. Steiner is based in LM Re’s office in Stamford, Connecticut and reports to Thomas …

Government-Produced Flood Maps May Have Underestimated Properties at Risk

First Street Foundation, a nonprofit agency, is making accurate climate change-adjusted flood scores available for every property in the U.S. today. There are government-produced maps showing 8.7 million homes and properties at significant flood riskā€”and it turns out those may …

Tesla Sued Over Highway Crash When Model 3’s Airbags Malfunctioned

Tesla Inc. was sued over a Maryland highway crash last year in which a Model 3’s airbags failed to deploy, leaving a college professor with brain damage. Elon Musk, the company’s co-founder, has touted the Model 3 as the “safest …

Italy’s Generali Eyes Possible Acquisition of U.S. Asset Manager Brightsphere: Sources

Assicurazioni Generali SpA has approached Brightsphere Investment Group Inc about a possible acquisition of the U.S. asset management firm, people familiar with the matter said on Friday. A deal would expand the U.S. footprint of Italy’s top insurer while enabling …

Top Agencies: Deadline Approaching to Submit for 2020 Ranking

Is your agency a top property/casualty independent agency? Find out by submitting your agency for the 2020 Insurance Journal Top 100 Property/Casualty Agencies Listing. Each year, Insurance Journal searches for the nation’s top independent insurance agencies for recognition in the …

Cybersecurity Firm Exposes Chinese Tax Software’s Malware That Endangers Networks

When a U.K.-based technology vendor started doing business in China, it hired a cybersecurity firm to proactively hunt for any digital threats that could arise as part of doing business in the country. The firm discovered a problem, one with …

Trump Administration Backs GOP Governors’ Supreme Court Bid to Repeal Obamacare

President Donald Trump’s administration has asked the U.S. Supreme Court to invalidate the Obamacare law introduced by his predecessor that added millions to the healthcare safety net but has been a major political controversy. Government advocate Noel Francisco argued in …

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