P&C Companies News

NEXT, Thimble Latest Insurtechs to Announce Layoffs This Year

NEXT Insurance and Thimble are the latest insurtechs to lay off part of their workforce this year, with NEXT citing challenging economic conditions and both insurtechs pointing to an increased focus on profitability. NEXT laid off 17% of its workforce …

New Lending Rules Could Stifle Loans, Insurance for Florida Condos that Need Repairs

Just as some insurers have tightened requirements for underwriting high-rise condominiums in the wake of the Champlain Towers collapse in Miami Beach last year, now mortgage banks are starkly revising lending rules. The moves could make sales of some condo …

S&P Report Sheds Light on Florida Farm Bureau’s Losses

Recently posted data provides new insight on the dire financial situation for Florida Farm Bureau, one of four carriers that announced it would stop writing or non-renew thousands of homeowner policies in Florida this year. Farm Bureau, which industry analysts …

WSIA’s Diversity, Inclusion Director Sees Industry Progress, Commitment to Change

In an effort to continue its commitment to promoting diversity, equity and inclusion in the insurance industry, the Wholesale and Specialty Insurance Association (WSIA) recently hired Vanessa Sims as its first director of DE&I. According to the association, Sims will …

Fox Point Expands E&O Liability Program for Small Business Risks

Fox Point Programs is expanding its professional liability insurance offerings for small businesses in more than 2,000 professional categories through the introduction of its FoxPro Defender series errors and omissions (E&O) coverage. This coverage is being launched in collaboration with …

Lexington’s Levinson on Why E&S Is More Relevant Now Than Ever

When Lou Levinson became president and CEO of Lexington Insurance in late 2018, he knew the company needed a change. He believed that Lexington should be a wholesale focused distribution channel and that the company should remain focused and disciplined …

Florida Litigated Claims Dropped 9% in September

The Florida Legislature’s recent efforts to curtail assignments-of-benefits abuse and excessive claims litigation may be having an impact, according to a new report from a lawsuit-tracking firm. CaseGlide, a litigation management software company that regularly reports on insurance litigation, said …

Origami Risk Enhances Workers’ Comp Claims Administration Package

Origami Risk, a risk, safety and insurance Software as a Service (SaaS) technology firm, announced it has packaged its online workers’ compensation claims administration into a standard offering to help insurance carriers, third party administrators (TPAs), risk pools and managing …

Flow Insurance, Chaucer Group to Offer Residential Flood Insurance

Flow Insurance Services has partnered with Chaucer Group to allow for the digital distribution of Chaucer’s new residential flood insurance product. Flow’s retail agents will have the ability to quote, bind, and service Chaucer’s flood insurance product on the FlowRater. …

Colonial Surety Launches Cyber and Fiduciary Package for Retirement Planning

Colonial Surety, a direct and digital insurer, expanded its fiduciary liability product offering for plan sponsors – businesses that offer retirement plans – with a new, two-part package that includes cyber liability coverage. The new package offers fiduciary liability insurance …