commercial insurance News

Reliance Partners Opening New Office in Chicago

Chattanooga, Tennessee-based commercial insurance provider, Reliance Partners, is expanding in the Midwest by opening a new office in the Chicago area. Edgar Mercado will lead the new Chicago office. Mercado started his career at Reliance in Chattanooga and has emerged …

Louisiana Cities Experienced Economic Ups and Downs in 2016

Louisiana’s eight metropolitan areas included two of the nation’s fastest growing economies and two of its fastest shrinking ones in 2016. Lake Charles’ economy grew 8.1 percent, the fastest in the nation according to numbers released in September by the …

Willis Towers Watson: Hurricane Harvey Could Upend Commercial Insurance Prices

Hurricane Harvey could upend a trend of nearly flat commercial insurance prices that has continued since 2015, Willis Towers Watson said in its latest industry survey. “Insurers are bracing for a significant volume of complex commercial property claims, as well …

Liberty Mutual Enhances Commercial Insurance Property Form

Liberty Mutual’s has launched a new proprietary Premier Property Protector all-risk policy to accommodate all of a broker’s single carrier and shared and layered property coverage needs. According to Mike Fallon, president of National Insurance, Liberty Mutual’s business unit that …

Texas ‘Industrial Insureds’ Surplus Lines Bill Signed into Law

On May 11, the Texas Senate passed a bill exempting certain policyholders from the requirement that agents to make a “diligent effort” to find insurance in the admitted commercial insurance market. Gov. Greg Abbott has signed the measure, which becomes …

Zurich Insurance in APAC Creates New Commercial Insurance Structure

Zurich Insurance has created a new structure for its Commercial Insurance business in Asia Pacific (APAC), following the combination of its Global Corporate and Commercial units into a single division. “This simplified structure provides a single point of entry for …

Trade Group: Workers’ Comp Reform Among Key Issues for Illinois Insurers

Workers’ compensation, commercial insurance purchasing rules and auto insurance verification are among key challenges for insurers in Illinois legislative session, a national insurance trade organization says. American Insurance Association (AIA), which identified legislative and regulatory issues for property/casualty insurers in …

Insureon CEO on Growth, Hockey Pucks and the Perils of Complacency

A major online provider of commercial insurance for small businesses in the United States keeps track of its growth milestones with hockey pucks. OK, that might be a bit of a stretch but Chicago-based Insureon definitely has found hockey pucks …

Liberty Mutual Adds 2 Excess Casualty Products for Large Companies

Liberty Mutual Insurance has launched two new excess casualty products for large companies: the Utility Follow Form Excess for the power and utility sectors, and the Integrated Occurrence Form for the large corporate sector. Both are available from Liberty Surplus …

Zurich Launches Commercial Insurance Unit; Shea Named as Head

Zurich Insurance Group AG named James Shea to head a new unit that will combine its global corporate and commercial businesses as part of a company-wide restructuring. Shea, 50, joins from American International Group Inc. where he headed global financial …