All the headlines from our Commercial Lines Topic Page, ordered by recency.
Nov 8 2023 // SureChoice Underwriters Reciprocal Exchange (SURE), a policyholder-owned coastal insurer, in partnership with SageSure, a large managing general underwriters focused on catastrophe-exposed markets, has announced its...
Nov 6 2023 // Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends.“The liability component has been more problematic than the...
Nov 3 2023 // Howden Scotland, formerly known as Bruce Stevenson, announced the acquisition of Neilson Laurence & Neil, the Glasgow-based UK specialist commercial insurance broker.Financial details of the deal were not disclosed....
Nov 2 2023 // The California FAIR Plan Association is offering increased commercial coverage of up to $20 million per location. Prior to the adjustment, the maximum limits for commercial coverage were $8.4 million per location. Business...
Nov 1 2023 // The Ardonagh Group, the London-based independent insurance distribution platform, has agreed to acquire ASSEPRO, the largest independent commercial broker for small and medium-sized enterprises (SMEs) in Switzerland, with...
Oct 30 2023 // A U.S. labor board on Oct. 26 issued a final rule making it easier for workers and unions to hold companies liable for labor law violations by their franchisees and contractors, reviving an Obama-era standard heavily...
Oct 27 2023 // The Hartford reported a 93% increase in third quarter net income to $645 million driven by results in its commercial lines segment.The Hartford, Connecticut-based insurer said third quarter net income in commercial lines...
Oct 27 2023 // Kingsbury Companies LLC has paid a worker $40,000 in punitive damages and $3,901 in back pay after the company terminated the employee in retaliation for speaking with the employer and other employees about whether they...
Oct 27 2023 // CRC Group named Angela Alaniz as chief digital officer of its commercial solutions division. Alaniz is based in San Francisco, Calif. Alaniz has been with CRC Group since 2010 and most recently served as senior vice...
Oct 25 2023 // Risk Strategies acquired North Bay, a business unit from InterWest Insurance Services LLC, adding specialty expertise to its Wineries Practice. Along with offices in Petaluma, California and Santa Rosa, California, the...
Oct 24 2023 // Erin Lee McCarroll, 49, of Laguna Beach, California, was arraigned on 27 felony counts including grand theft and forgery after a California Department of Insurance investigation found she allegedly stole more than $62,000...
Oct 24 2023 // A Connecticut appeals court has revived a wrongful death claim that tests a narrow exception to the state law that makes workers’ compensation the exclusive remedy for most workplace deaths and injuries.Harold...
Oct 23 2023 // The chance for persistent inflation to keep interest rates higher and potential losses in the commercial real estate market are among the top concerns of respondents to a Federal Reserve survey on financial stability, the...
Oct 20 2023 // This edition of International People Moves details appointments at Allianz Commercial and Sompo International.A summary of these new hires follows here. Allianz Commercial Taps AIG’s Valencia to Lead Portfolio...
Oct 18 2023 // Nirvana Insurance announced a $57 million Series B funding round with Lightspeed Venture Partners investing again to lead the round, and additional participation from General Catalyst and Valor Equity Partners.The new...
Oct 17 2023 // The number of soured commercial real estate loans has begun to rise in the UK as the rapid increase in interest rates feeds through to property valuations.The overall default rate on UK commercial real estate debt reached...
Oct 13 2023 // On March 25, 1911, 146 people, mostly young female immigrants, were killed when a fire broke out at the Triangle Shirtwaist Co. garment factory in New York. The tragedy led to legal reforms for workers’ rights and...
Oct 12 2023 // Approximately 78% of commercial auto insurers are in the research phase of preparing for usage-based insurance (UBI) products, according to a new report from The National Alliance for Insurance Education and Research and...
Oct 12 2023 // This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI) and Allianz Commercial.A summary of these new hires follows here. BHSI Taps Allianz’s Fuertes as Head...
Oct 11 2023 // Third quarter 2023 commercial insurance rates remained up, but about 3.7% compared to up about 5% during the second quarter.According to MarketScout’s Market Barometer, the composite rate for all U.S. lines of...