Monthly Archives: <span>June 2020</span>

New York’s ReSource Pro Hires Jain as Carrier Practice Leader

ReSource Pro has hired Anuj Jain as its Carrier Practice leader. In this role, Jain will be responsible for developing operational solutions for insurance carriers and accelerating ReSource Pro’s growth in the segment. Prior to joining ReSource Pro, Jain served …

Pennsylvania Provides Guidance for Businesses Damaged During Civil Unrest

Pennsylvania Insurance Commissioner Jessica Altman has released guidance to Pennsylvania businesses damaged during the civil unrest across the state. The information is intended to assist business owners identify what is generally covered by understanding the terms in their policies and …

Florida Supreme Court Suspends Attorney Behind Thousands of Insurer Lawsuits

The Florida Supreme Court has granted an emergency request by The Florida Bar to immediately suspend an attorney who, with his firm, has filed thousands of assignment of benefit and first party lawsuits against Florida property insurers over the last …

Fidelis Insurance Raises $500 Million of Equity Capital for Growth in Hardening Market

Fidelis Insurance Holdings Ltd. announced it has raised $500 million of equity capital from existing investor relationships. On top of the $300 million raised by the company in February, Fidelis has now secured $800 million of additional equity during 2020. …

Global Insurers Pulled into Epicenter of COVID-19 Crisis, Firmly in Uncharted Territory

Roger Federer and Rafael Nadal locked in spell-binding battle. Paul McCartney sharing a stage with Kendrick Lamar and Taylor Swift. The long-awaited 32nd Olympic Games. The list of canned crowd-thrillers that were planned for the coming weeks isn’t just bad …

Captives Can Be an Insurtech Accelerator

With the immense financial and operational challenges brought on by the spread of the COVID-19 pandemic, many insurers have had to dramatically cut back on insurtech funding. Insurtech solutions were starting to help insurers improve their commercial customers’ buying and …

The Hilb Group Acquires Fort Myers Insurance Agency/Freedom Insurance Center of Florida

The Hilb Group, LLC has acquired Florida-based Fort Myers Insurance Agency, Inc., dba Freedom Insurance Center (FIC). The transaction became effective June 1, 2020. FIC is a property and casualty full–service agency that focuses mostly on homeowners and auto policies …

Workers’ Comp Carrier ClearPath Mutual Expands into Indiana, Tennessee

ClearPath Mutual Insurance Co. has expanded its workers’ compensation insurance offering into Indiana and Tennessee. According to ClearPath Mutual, when it began operations in 2018, the company applied for licenses in Tennessee and Indiana to better serve its existing Kentucky …

Federal Government Proposes $4.6B Plan to Protect Miami from Climate Impacts

The federal government is proposing a $4.6 billion plan to protect the low-lying Miami area from the effects of climate change, including the construction of miles of sea walls. The U.S. Army Corps of Engineers released a draft plan Friday …

Measuring the Moment: How Will George Floyd’s Death Matter to Insurance Industry?

The marches and protests across the globe sparked by the death of George Floyd by Minneapolis police are presenting the country with opportunities to confront the racism and inequality that African-Americans confront every day. As executive director of the National …