Workers’ compensation insurance rates will continue to decrease in Louisiana with a new rate reduction beginning in May, the insurance department reported. Louisiana Insurance Commissioner Jim Donelon has approved a loss cost filing by the National Council on Compensation Insurance …
American Capital Assurance Corp., a Florida-based insurer focused on commercial residential and non-residential property risks, as well as flood coverage, had its Demotech rating withdrawn and was downgraded by AM Best. Demotech announced March 5 that it had withdrawn American …
Louisiana insurance regulators have approved rate and form filings for Farmers Insurance in advance of California-based insurer’s re-entry into the Louisiana market. The Louisiana Department of Insurance reported that Farmers is returning to the Louisiana market in March with auto, …
Relation Insurance Services Inc. (Relation) has entered the Texas market with the acquisition of the assets of InSource Insurance Agency Inc. (InSource), in San Antonio, and Shepard Insurance Agency (Shepard), headquartered in McAllen. InSource and Shepard provide commercial and personal …
Chicago-based global insurance brokerage, Hub International Limited (Hub), has acquired the assets of The Juban Insurance Group in Baton Rouge, La. Terms of the transaction were not disclosed. The Juban Insurance Group is an independent insurance agency specializing in business …
After being battered by withering criticism of its management of the power grid during February’s winter storm, the Electric Reliability Council of Texas (ERCOT) saw several of its board members resign and fired its CEO. The chair of the Public …
Jim Heintz has been appointed as underwriting manager for property/casualty insurer Zurich North America’s South Central area. In his role as underwriting manager for the South Central area, Heintz will be responsible for managing underwriters and cultivating key distributor relationships …
Texas surplus lines insurance premium recorded in Texas in February totaled $509.48 million, the Surplus Lines Stamping Office of Texas (SLTX) has reported. With the addition of February premium, the year-to-date total rose to $1.12 billion. This results in a …
Seven people were injured in a natural gas explosion near Houston, including one person who was flown to a hospital for treatment, officials said. Workers for Comcast struck a gas line while working in Klein on Friday, news outlets reported. …
The Porch Group, a software platform focused on home services companies, is acquiring Irving, Texas-based managing general agent and insurance carrier, Homeowners of America (HOA). Under a merger agreement, Porch will acquires HOA and all related subsidiaries. The transaction, which …
