New Jersey-based specialty insurer Transverse Insurance Group reported it has raised $48 million of additional capital to support expansion of its hybrid fronting insurance business. The $48 million raise was comprised of a private placement of $30 million aggregate principal …
Technology-driven Hippo has expanded its commercial lines homeowners association (HOA) insurance offering into 15 additional states after debuting it last August in Arizona. Hippo’s HOA insurance is now available in Arizona, Colorado, Delaware, Idaho, Illinois, Indiana, Massachusetts, Maryland, Michigan, Nevada, …
Kentucky lawmakers, back in session, are planning to take up tornado-recovery legislation this week, with the goal of quickly distributing an initial round of assistance, House Speaker David Osborne said. The newly introduced legislation proposes $200 million of aid in …
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance, BMS and Fidelis Insurance. A summary of these new hires follows here. BHSI Promotes Kidd to Country Manager, Ireland Berkshire Hathaway Specialty Insurance (BHSI) announced that Louise …
In the latest turn in litigation over the opioid crisis, a state’s high court has found an insurer does not need to pay defense costs under a commercial general liability policy for a pharmacy chain facing public nuisance lawsuits. The …
Florida’s insurance commissioner announced that his office had begun a rulemaking process to draft a form insurers should use to report a wide range of data on claims, as required by legislation passed in 2021. “Residential property insurers should begin …
First Underwriting Ltd., the London-based specialist MGA that is part of Kingfisher UK Holdings, announced a five-year capacity deal to place approximately £1 billion (US$1.4 billion) of gross written premium into the market. Working in partnership with Accredited Insurance (Europe) …
Enstar Group Ltd. announced that one of its wholly owned subsidiaries has reached an agreement for a ground-up loss portfolio transfer (LPT) with Aspen Insurance Holdings Ltd. for its 2019 and prior business. In the LPT transaction, Enstar’s subsidiary will …
As the raging omicron variant of COVID-19 infects workers across the nation, millions of those whose jobs don’t provide paid sick days are having to choose between their health and their paycheck. While many companies instituted more robust sick leave …
The sister of a slain federal security officer is suing Facebook, alleging the tech giant played a part in the radicalization of two men who are accused of planning the killing on its platform. David Patrick Underwood was fatally shot …
