The frequency and severity of insurance claims in the U.S. renewable energy market have significantly increased over the last five years, meaning insurers and asset owners must reset their benchmark for renewable energy risks, according to an insurer that specializes …
Missouri’s General Assembly has passed, and the governor has signed, a bill that exempts some commercial insurance policies and endorsements from rate filing requirements. The summary of SB 594 on the legislative website states that it “exempts certain lines and …
Global commercial property/casualty insurance premiums were worth approximately $730 billion in 2017 and by 2021 will rise to almost $900 billion. U.S. commercial P/C insurance premiums were worth $274.5 billion in 2017 and are forecast to rise to $331.5 billion …
Investigators in Norman, Oklahoma, say the theft of tires and rims from vehicles at a Norman car dealership appears similar to thefts reported in Texas. Police say tires and rims were discovered missing removed from about 40 vehicles at a …
Chattanooga, Tennessee-based commercial insurance provider, Reliance Partners, is expanding in the Midwest by opening a new office in the Chicago area. Edgar Mercado will lead the new Chicago office. Mercado started his career at Reliance in Chattanooga and has emerged …
Louisiana’s eight metropolitan areas included two of the nation’s fastest growing economies and two of its fastest shrinking ones in 2016. Lake Charles’ economy grew 8.1 percent, the fastest in the nation according to numbers released in September by the …
Hurricane Harvey could upend a trend of nearly flat commercial insurance prices that has continued since 2015, Willis Towers Watson said in its latest industry survey. “Insurers are bracing for a significant volume of complex commercial property claims, as well …
Liberty Mutual’s has launched a new proprietary Premier Property Protector all-risk policy to accommodate all of a broker’s single carrier and shared and layered property coverage needs. According to Mike Fallon, president of National Insurance, Liberty Mutual’s business unit that …
On May 11, the Texas Senate passed a bill exempting certain policyholders from the requirement that agents to make a “diligent effort” to find insurance in the admitted commercial insurance market. Gov. Greg Abbott has signed the measure, which becomes …
Zurich Insurance has created a new structure for its Commercial Insurance business in Asia Pacific (APAC), following the combination of its Global Corporate and Commercial units into a single division. “This simplified structure provides a single point of entry for …
