Buckle, the all-encompassing tech-enabled financial services company, and Amwins Specialty Auto (Amwins), a non-standard auto insurance specialist with 25 years of experience, have signed a managing general agency (MGA) agreement. Amwins will underwrite Buckle’s non-standard auto (NSA) insurance policies in Florida, as well as Buckle’s gig auto insurance for rideshare and delivery drivers in the… Continue reading Amwins Specialty Auto and Buckle Enter into MGA Agreement in Florida
Author: Farkas Laura
Top Regulator Calls for Banks to Amp Up Cyber Security As Ransomware Attacks Rise
A top U.S. banking regulator is warning firms to ensure they have robust policies in place to protect themselves from cyberattacks, citing an increase in ransomware attacks in a report issued Monday. According to the Office of the Comptroller of the Currency, banks must have “robust” systems in place to identify threats and vulnerabilities in… Continue reading Top Regulator Calls for Banks to Amp Up Cyber Security As Ransomware Attacks Rise
BRP Group Amending Its Credit Agreement, Seeking $250 Million in Loans
BRP Group, Inc., an independent insurance distribution firm, has announced that its subsidiary, Baldwin Risk Partners, is seeking to amend its existing credit agreement with an incremental term loan facility. Under its credit agreement, BRP will borrow $250 million in new term B loans. The aggregate principal amount of its existing senior secured first lien… Continue reading BRP Group Amending Its Credit Agreement, Seeking $250 Million in Loans
Nevada Supreme Court Says Gunmakers Cannot Be Held Responsible for Las Vegas Shooting
The Nevada Supreme Court ruled that gun manufacturers cannot be held liable for the deaths in the 2017 Las Vegas Strip mass shooting because a state law shields them from liability unless the weapon malfunctions. In July 2019, the parents of a woman who was among the 60 people killed in the shooting at a… Continue reading Nevada Supreme Court Says Gunmakers Cannot Be Held Responsible for Las Vegas Shooting
WTW Expands Aviation Insurance Broking Solutions with Aerosure Acquisition
Willis Towers Watson has acquired Aerosure, a leading aviation industry specialist, focused on the Australia, New Zealand and Pacific Island region. Aerosure, based in Sydney, will become a part of Willis Towers Watson’s Global Aerospace business, providing a suite of aviation insurance broking solutions to service the insurance and risk needs of the aviation industry… Continue reading WTW Expands Aviation Insurance Broking Solutions with Aerosure Acquisition
AM Best Revises Outlook on U.S. Commercial Lines Insurance Industry Back to Stable
The outlook for the property/casualty insurance industry’s commercial lines segment in the United States has been revised by AM Best to stable from negative. The credit insurance agency cited the relatively modest negative impact of the COVID-19 pandemic, continued strong pricing momentum across the segment, and favorable rulings to date on many business interruption coverage… Continue reading AM Best Revises Outlook on U.S. Commercial Lines Insurance Industry Back to Stable
Vaccine Mandate for NYC Private-Sector Workers Goes into Effect December 27
In what Mayor Bill de Blasio described as a “first in the nation measure,” New York City will require all private-sector workers to be fully vaccinated against Covid-19. The new mandate will take effect on December 27th, just days before a new mayor takes office and while a federal vaccine mandate for many private-sector employees… Continue reading Vaccine Mandate for NYC Private-Sector Workers Goes into Effect December 27
TSA Issues Directives to Rail Sector to Strengthen Cybersecurity
The Transportation Security Administration (TSA) issued two security directives on Thursday, requiring rail and rail transit groups to take steps to strengthen cybersecurity in the sector, including reporting cyber incidents to the federal government. The security directives require higher-risk freight rail, passenger rail, and rail transit organizations to report cybersecurity incidents to the Cybersecurity and… Continue reading TSA Issues Directives to Rail Sector to Strengthen Cybersecurity
Climate Change Comes to Insurance: Opinion
Natural disasters have cost the United States more than $600 billion over the past five years. With climate change, those costs are expected to continue increasing. Moving forward, managing and distributing these harms will become increasingly important. Insurance is one tool to do so. Unfortunately, the insurance system is also at risk from climate change.… Continue reading Climate Change Comes to Insurance: Opinion
Jimcor Announces New Sales Manager for New York
Jimcor Agency, Inc. a national wholesale broker and MGA, announced a new Sales Manager for New York with the hire of Bob McNamee. McNamee will lead the New York offices including team members based in Long Island and Saratoga. He will also look to expand the presence of Jimcor in the New York region. Bringing… Continue reading Jimcor Announces New Sales Manager for New York