Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Compass Insurance Services, Inc. Terms of the transaction were not disclosed. Headquartered in Kronenwetter, Wisconsin with seven additional locations, Compass Insurance Services is a full-service, independent insurance agency providing commercial and personal insurance,… Continue reading Hub Expands Commercial and Personal Insurance Capabilities with Acquisition of Compass Insurance Services
Author: Farkas Laura
Cyber Insurance Firm Coalition Valued at $5 Billion After Fund Raise
Coalition said on Friday it had raised $250 million in a late-stage funding round last month that valued the cyber insurance provider at $5 billion, at a time organizations have been facing an increasing risk of cyber threats. Cybersecurity is a hot market right now, having attracted billions of dollars in investments, thanks to the… Continue reading Cyber Insurance Firm Coalition Valued at $5 Billion After Fund Raise
RLI Must Cover $2.4M Company Settlement to Injured Trucker
The Sixth Circuit ruled that an RLI Corp. unit must pay $2.4 million toward an Ohio trucking company’s settlement with an injured driver after the company failed to obtain workers’ compensation insurance for him. According to the US Court of Appeals for the Sixth Circuit, the case hinges on RLI Insurance Co.’s obligation to cover… Continue reading RLI Must Cover $2.4M Company Settlement to Injured Trucker
Lawsuits Filed Days After Deadly Missouri Amtrak Crash
The first lawsuits have been filed only days after an Amtrak train collision and derailment in rural Missouri that left four people dead and injured up to 150 others. In a federal lawsuit filed last Friday, surviving passenger Janet Williams of Dubuque, Iowa, named Amtrak, BNSF Railway Co. and MS Contracting LLC, the employer of… Continue reading Lawsuits Filed Days After Deadly Missouri Amtrak Crash
U.S. Active Shooting Insurance Rates Jump As Incidents Rise
According to insurers, the cost of purchasing insurance against mass shootings has increased by more than tenfold in the United States this year as a result of a string of deadly events. According to the Gun Violence Archive, the United States has seen 293 mass shootings this year, which are defined as any event involving… Continue reading U.S. Active Shooting Insurance Rates Jump As Incidents Rise
GloveBox Secures $5.5M for Its Insurance Client Experience Platform
GloveBox, a client experience platform for insurance agents and carriers, has raised $5.5m in Series A funding. The round was led by Panoramic Ventures with follow-on participation from Heffernan Insurance Brokers and a top tier insurance carrier. Founded in 2019, Denver-based GloveBox provides a platform that delivers a self-service mobile and web app for policyholders,… Continue reading GloveBox Secures $5.5M for Its Insurance Client Experience Platform
NHTSA Plans New Push Against Speeding
The head of National Highway Traffic Safety Administration (NHTSA) said on Wednesday the agency plans a new push to convince Americans to stop speeding, hoping to reduce traffic deaths which have risen sharply in recent years. “We have a new speed campaign that’s going to be kicking off in a couple of weeks,” NHTSA Administrator… Continue reading NHTSA Plans New Push Against Speeding
Octagram Formed to Help Commercial P-C Carriers Compete with Data, Analytics
Octagram Analytics has been established to close the gap between data and analytics models and actual business impact for commercial property-casualty insurance organizations. The consulting firm is led by CEO Jessica Leong, who for 20 years has managed actuarial and data science teams in the commercial property-casualty industry. She is former president of the Casualty… Continue reading Octagram Formed to Help Commercial P-C Carriers Compete with Data, Analytics
Cowbell Doubles Underwriting Capacity in a Multi-Year Program Agreement with Palomar
Cowbell Cyber, the leading provider of cyber insurance for small and medium-sized enterprises (SMEs), today announced an agreement with Palomar Excess & Surplus Insurance Company. The expansion of Cowbell’s relationship with Palomar doubles the available reinsurance capacity for Cowbell Prime 250, Cowbell’s cyber coverage for businesses with up to $250 million in revenue. The agreement… Continue reading Cowbell Doubles Underwriting Capacity in a Multi-Year Program Agreement with Palomar
SageSure and SURE Prevent Coverage Interruption for 14K+ South Carolina Homeowners
SageSure, the insurance first, tech-forward managing general underwriter for coastal property, announced today the completed transfer of more than 14,000 South Carolina homeowners insurance policies from FedNat Insurance Company to its carrier partner SURE. The member-owned property insurance company SURE entered the South Carolina homeowners insurance market in June 2022, and will assume these policies.… Continue reading SageSure and SURE Prevent Coverage Interruption for 14K+ South Carolina Homeowners