new market News

Tower Hill Specialty Enters Illinois Property Insurance Market

Ohio-based Tower Hill Specialty is now offering property insurance in Illinois. Currently available in seven states, Tower Hill Specialty provides homeowners, dwelling fire, manufactured housing and condominium products. Insurance coverages for vacation homes, rental properties and fixer-uppers are some of …

Prospect General Offering Admitted Residential Flood Product in Illinois

Prospect General Insurance Agency (Prospect General) has launched its admitted residential flood insurance product, Flood Guard, in Illinois. Written through Palomar Specialty Insurance Co., Flood Guard provides residential flood coverage as an alternative to the National Flood Insurance Program (NFIP). …

Vault E&S Approved as Surplus Lines Insurer in Arkansas

A new Arkansas-based surplus lines insurer has been approved to do business in the state, according to the Arkansas Insurance Department. Vault E&S Insurance Company has been granted authority to sell property, casualty (excluding workers’ compensation), and marine insurance products …

TAGA, QBE NA Launch Herbicide/Pesticide Insurance Program in Texas

Tejas American General Agency (TAGA), a Texas based MGA and wholesale brokerage has launched a new herbicide/pesticide program in Texas, underwritten through QBE North America, an operating division of global insurer QBE Insurance Group Limited. The herbicide/pesticide program allows applicators …

AmWINS Announces HPR/Engineered Risk Practice

Specialty broker AmWINS Group Inc. has launched an Engineered Risk Practice within its brokerage division. The Highly Protected Risk (HPR)/Engineered Risk practice handles property placements for insureds with generally $250 million in total insurable value (TIV) and up, including risks …

ICAT Launches Special Purpose Lloyd’s Syndicate for Mid-Sized U.S. Risks

Colorado-based natural disaster recovery specialist ICAT announced that Lloyd’s of London has granted approval of Special Purpose Syndicate 6123 to further expand ICAT’s per risk capacity. Subject to completion of the application, the new SPS will go live on May …

XL Group Assembles Crisis Management Team in U.S.

XL Group has added a crisis management team to provide corporate clients in the U.S. with product recall, war, terrorism and political violence, kidnap, ransom, and extortion insurance. Led by Denise Balan in New York, the new team has underwriters …