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Markets/Coverages: MGA OpenRoad Enters Collector Vehicle Insurance Market

May 21 2024 // Managing general agency Open Road Insurance announced its entry into the marketplace for collector vehicle auto insurance with its first license in Texas, and plans to launch in other U.S. states later this...

CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024

May 20 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024. According to The Council of Insurance Agents and Brokers’ Q1 Market Survey, the...

AM Best Affirms Arrow Mutual’s Ratings, Revises Outlooks Citing Claim Dispute

May 20 2024 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Arrow Mutual Liability...

Hawaii Study: Nearly 75% of Wildfire Survey Participants Have Respiratory Issues

May 20 2024 // A University of Hawaii study examining the health effects of last year’s deadly wildfires on Maui found that up to 74% of participants may have difficulty breathing and otherwise have poor respiratory health, and...

Report: Cybercrime ‘A Thriving Business’ as US Claims Frequency Rises

May 20 2024 // Cyber claims frequency in the United States rose 13% last year, a new report shows. According to the 2024 Cyber Claims Report published by Coalition, an insurer focused on digital risks, cybercrime is “a thriving...

Is an ESOP in Your Future? Don’t Overlook This Valuable Succession-Planning Tool

May 20 2024 // 2024 marks 50 years since Congress passed legislation codifying the tax benefits of employee stock ownership plans (ESOPs). Senator Russell Long, then chairman of the Senate Finance Committee, personally saw to it that...

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