The Woodlands Insurance Co. (TWICO), located in The Woodlands, Texas, has launched a Texas homeowners policy that will include flood insurance to all qualifying households. With a tiered offering of Twico Prime, Twico Prime Plus, and Twico Prime 360, homeowners …
Microsoft Corp.’s captive insurer has lost its bid to recover $175 million in costs the software maker said it incurred in 2013 to replace memory chips that a manufacturer failed to deliver because of a fire at the chipmaker’s plant …
Authorities say the owners of a contracting firm stole nearly $700,000 from homeowners and subcontractors they were supposed to use to make repairs to homes damaged by Superstorm Sandy. Ocean County, N.J., prosecutors say Adam Nevius and his wife, Kimberly …
A Massachusetts woman has pleaded guilty to defrauding a Rhode Island technology company out of more than $550,000 in reimbursements for business expenses. Jill Martinho entered her plea to wire fraud and willfully making a false tax return. Federal prosecutors …
Gramercy Risk Holdings LLC, a Uniondale, N.Y.-based insurance holding company, has acquired Executive Insurance Company, a New York-domiciled admitted insurance company. Following the acquisition, Executive will be renamed Gramercy Indemnity Company. Executive joins Gramercy Risk Management and Certus Claims Administration …
SterlingRisk Insurance, a Woodbury, N.Y.-based, independently owned insurance brokerage, has hired Angelina M. Bocanegra as alternative market program director. In this role, Bocanegra will manage strategic growth within SterlingRisk’s Alternative Market Insurance Solutions Division, which provides alternate options to SterlingRisk …
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 …
European Property Underwriting Ltd. (EPUL), a commercial property managing general agent (MGA), has launched “Solutions,” a package of covers specifically designed to address the challenges that brokers face in placing cover for unorthodox property owner risks. This product provides cover …
A.M. Best maintains its negative outlook for the U.S. commercial auto insurance market even though its analysts believe it should improve somewhat in 2019. That forecast stems from commercial auto insurers having taken steps to address their most problematic exposures, …
AXA XL has promoted Jennifer Minors to senior vice president – product line leader in its Bermuda Professional Lines Insurance business. Minors is responsible for managing directors and officers (D&O), professional liability, employment practices liability (EPL), wage & hour (W&H), …
