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

California’s Wine Country Adapting to Annual Wildfire Threat

Harvest season in Northern California’s wine country is what dream weddings are made of: ripe grapevines and golden sunsets provide ceremonies an alluring backdrop that every year draws millions of visitors. But harvest season now overlaps with fire season as …

Cross Insurance Hires Moriarity as Chief Information Officer Based in Maine

Cross Insurance, a subsidiary of Cross Financial Corp. and an independent insurance provider in New England, has hired Timothy Moriarity as chief information officer (CIO). He will be based in Bangor, Maine. In this new role, Moriarity is responsible for …

World Insurance Associates Acquires New Jersey’s Fairways Insurance

World Insurance Associates LLC (WIA) has acquired Fairways Insurance Inc. of Cinnaminson, N.J., on November 1, 2020. Terms of the transaction were not disclosed. Fairways is a full-service insurance agency serving clients throughout New Jersey, Pennsylvania and Delaware. WIA is …

Apartment Builders Settle Claims of Illegal Asbestos Work in Massachusetts

The builders of an apartment complex have agreed to pay $335,000 to settle allegations that workers improperly handled asbestos-containing material during the redevelopment of a former manufacturing site in Lawrence, Massachusetts Attorney General Maura Healey said Tuesday. The agreements settle …

For First Time, Federal Reserve Cites Climate as Financial Stability Risk

The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. “Acute hazards, …

Goldman Eyes More Business From Europe’s Insurers With Barclays Hire

Goldman Sachs has poached Barclays’ insurance banker Marguerite Bion to win more business from Europe’s biggest insurers as industry consolidation heats up amid anemic profitability and tightening regulation. Bion, who started her career at Citigroup in 2001 and spent the …

Italy’s UnipolSai Stays on Profit Track Despite Coronavirus Resurgence

UnipolSai, Italy’s second-largest insurer, confirmed its full-year targets on Friday after a 37.7% rise in nine-month earnings, despite an uncertain economic outlook caused by the resurgence of the COVID-19 pandemic. The company said its consolidated net profit for the first …

North Carolina Insurers Seek 24.5% Rate Hike for Homeowners

The North Carolina Rate Bureau has requested an average statewide rate increase of 24.5% on homeowners insurance rates in the state, according to a statement from the North Carolina Department of Insurance. The NCRB is not part of the NCDOI …

Homeowners Insurer Openly Enters Ohio

Boston-based Openly is now selling homeowners insurance in Ohio. Ohio homeowners and independent agents can now buy Openly’s premium insurance, obtaining quotes in 15 seconds, according to the company’s media release. The company said its entrance to the state provides …

Distinguished Programs Adds AIG’s Schleich as Midwest Regional Sales Executive

Distinguished Programs, a national insurance program manager, has added Mike Schleich as regional sales executive covering the North Central Territory. This region includes Indiana, Michigan, Ohio, and Kentucky, as well the city of Chicago. Schleich, who is based in Cleveland, …