auto liability insurance News

Exclusion Left Off Declarations Page Ruled Unenforceable ‘Hidden Trap’ in New Jersey

A three-judge New Jersey Superior Court appellate panel has ruled that an intra-family liability exclusion in a Travelers (St. Paul) auto insurance policy amounts to a “hidden pitfall” and is unenforceable because it was not cited on the policy’s declarations …

Trinity Underwriting Managers, Obsidian Partner on Auto Liability Offering

Trinity Underwriting Managers (TUMI), part of Amwins Underwriting, has formed a new carrier partnership with Obsidian, an A.M. Best rated “A-” hybrid fronting program carrier. The partnership will add to TUMI’s automotive liability product offerings with specialty insurance coverage for …

Legacy Acquirer DARAG Completes Purchase of DONAU Versicherung’s Italian Portfolio

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has completed the acquisition of the Italian non-life portfolio of DONAU Versicherung AG after receiving approval from Austrian and Italian regulators. Financial details of the transaction were not disclosed.The deal was …

Legacy Acquirer DARAG Buys Italian Motor Business from DONAU Versicherung

Legacy Acquirer DARAG Group Ltd. announced it has agreed to purchase a portfolio of Italian non-life business, consisting primarily of motor third party liability from DONAU Versicherung AG. Financial details of the transaction, which is subject to approval by the …

TUMI Now a Lloyd’s Coverholder, Launches Auto Liability & Transportation Programs

Trinity Underwriting Managers, Inc. (TUMI), a Georgia-based program administrator, is now an approved Lloyd’s Coverholder and recently began underwriting business on behalf of certain underwriters at Lloyd’s. Available coverages include, but are not limited to: motor truck cargo, auto physical …

Maryland OKs Bill Allowing MAIF Policyholders Installment Payment Option

Maryland’s General Assembly has passed a bill this month that would allow the Maryland Automobile Insurance Fund (MAIF) to offer installment payment option for policyholders. MAIF, the insurer of last resort, was created by the Maryland State Legislature in 1972 …