Assurant News

Assurant to Offer Private Flood Insurance in Florida

Assurant, Inc. has launched Assurant Primary Flood Insurance for Florida customers. The new Assurant Primary Flood Insurance offers structural coverage up to $800,000 and up to $250,000 in contents coverage, at competitive rates that include no federal fees or surcharges. …

Assurant Names Waghray Chief Technology Officer in Atlanta

Assurant, Inc. has appointed Ajay Waghray to the role of chief technology officer and to the company’s management committee, effective May 9, 2016. In this newly created role, Waghray will drive technology strategy and align IT with business objectives across …

Assurant Finds Buyer for Health Insurance Business: National General

Assurant Inc. has officially decided it will exit the health insurance market to focus instead on its housing and lifestyle specialty protection products. The firm has reached an agreement to sell its Assurant Health supplemental and small group health lines …

Assurant to Exit Employee Benefits, Health Insurance

New York-based specialty insurer Assurant, Inc. said it is exploring strategic alternatives for its employee benefits and health business segments, including the sale of each business. If it can’t sell its health business segment before too long, the company said …

Global Indemnity Completes Purchase of American Reliable

Dublin-based Global Indemnity plc’s U.S. affiliate said it has completed its previously-announced purchase of American Reliable Insurance Co. from Assurant Inc. In a transaction valued at approximately $394,000,000, Global Indemnity’s U.S. division said it paid $114 million in cash to …

Assurant to Buy French Mobile Device Insurance Broker CWI

Consumer electronic and household device insurer Assurant Inc. has made a binding offer to acquire CWI Group, a mobile insurance brokerage in France, for approximately €56 million ($71 million). The acquisition by Assurant Solutions would strengthen Assurant’s capabilities in mobile …

Assurant Names Colberg as President, CEO

Specialty insurance provider Assurant Inc. has named Alan B. Colberg, as president, effective immediately, and as chief executive officer and director of the company’s board, effective Jan. 1, 2015. He succeeds Robert B. Pollock who announced his plan to retire …

New Force-Placed Insurance Rules Prompt $100 Million Agency Sale

One of the country’s largest overseers of troubled home loans, Nationstar Mortgage Holdings Inc., is quietly trying to sell a $100 million insurance agency that doesn’t appear to exist. Harwood Service Co. has no website, no independent offices and only …

N.Y. Proposes Sweeping Rules to Reform ‘Force-Placed’ Insurance Business

New York State officials today proposed a comprehensive set of rules to reform the “force-placed” — also known as “lender-placed” or “creditor-placed” — insurance industry in the state. The New York Department of Financial Services (DFS) said the regulations will …

JP Morgan, Assurant Settle Force-Placed Insurance Claims for $300M

JPMorgan Chase & Co and a major insurer have agreed to a $300 million settlement to resolve accusations that they forced homeowners into over-priced property insurance and entered into kickback arrangements that inflated the policies’ prices. The lawsuit being settled …