commercial insurance News

Massive Iowa Construction Site Fire Fueled by High Winds

High winds hampered firefighters’ efforts to extinguish a fire at a huge assisted living complex under construction in West Des Moines, Iowa, officials said. The four-alarm fire was reported around 6 p.m. Monday, the Des Moines Register reported. Fire officials …

Cause of Fire that Destroyed Businesses in Minnesota Town Still Unknown

Investigators worked to learn what caused a massive fire that wiped out part of downtown Alexandria in western Minnesota. More than 100 firefighters battled a blaze on Feb. 25 that destroyed RM Tattoo, Raapers Eatery & Ale, Charlie’s Bazaar and …

Insurtech Startup Blackboard Insurance Receives Approval in Virginia

Blackboard Insurance has announced the approval of its commercial insurance package in Virginia, bringing capabilities to middle market customers in 47 states and territories. Blackboard’s commercial insurance package includes property, general liability, auto, and umbrella across the manufacturing, real estate, …

Third Round of Flooding, Cleanup Takes Toll on Iowa Merchants

A third bout of flooding and cleanup is taking a toll on people who operate some small businesses along Iowa Highway 2 in southwestern Iowa. They heavily rely on north-south traffic from nearby Interstate 29 and on westbound travelers being …

Why Insurance Claims in Renewable Energy Industry Are Rising

The frequency and severity of insurance claims in the U.S. renewable energy market have significantly increased over the last five years, meaning insurers and asset owners must reset their benchmark for renewable energy risks, according to an insurer that specializes …

Missouri Exempts Some Commercial Insurance Policies from Rate Filing Rules

Missouri’s General Assembly has passed, and the governor has signed, a bill that exempts some commercial insurance policies and endorsements from rate filing requirements. The summary of SB 594 on the legislative website states that it “exempts certain lines and …

Here’s What’s to Expect for Global Commercial Insurance Market Growth

Global commercial property/casualty insurance premiums were worth approximately $730 billion in 2017 and by 2021 will rise to almost $900 billion. U.S. commercial P/C insurance premiums were worth $274.5 billion in 2017 and are forecast to rise to $331.5 billion …

Thieves Steal Tires from 40 Vehicles at Oklahoma Dealership

Investigators in Norman, Oklahoma, say the theft of tires and rims from vehicles at a Norman car dealership appears similar to thefts reported in Texas. Police say tires and rims were discovered missing removed from about 40 vehicles at a …

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 …