Marsh, the world’s leading insurance broker and risk advisor, today announced the opening of a new renewable energy facility in the United States and Canada that will provide streamlined, dedicated insurance capacity for mid-scale solar and battery energy storage system (BESS) risks. Renewable energy companies have struggled to find sufficient capacity for smaller standalone solar… Continue reading Marsh Launches Renewable Energy Facility for Mid-Scale Solar and BESS Risks
Author: Farkas Laura
Lemonade Premiums Up 71% Amid Growing Losses
Insurtech Lemonade reported a 71% increase in gross earned premiums in the first quarter of 2022, finishing the period with $96 million, up from $39.8 million. However, the company’s net loss increased in comparison to Q1 last year, rising to $74.8 million in Q1 2022 from $49 million previously. Revenue for the quarter increased by… Continue reading Lemonade Premiums Up 71% Amid Growing Losses
California Bill Would Invest Billions for Wildfire Response
As Gov. Gavin Newsom prepares to release his May budget revision, with an estimated surplus of $68 billion, Assemblymember Marc Levine (D – Marin County) announced a $10 billion budget request on Monday, including $5 billion to incentivize home hardening in high wildfire risk areas and another $5 billion to establish a state Catastrophic Wildfire… Continue reading California Bill Would Invest Billions for Wildfire Response
Commercial Insurance Rates Increasing Due to Inflation, Legal System Abuse, Other Cost Drivers
APCIA’s latest report, “Commercial Insurance Rates Rising: What Business Owners Need to Know,” examines the impact of inflationary pressures on commercial lines insurance and business owners. Skyrocketing inflation and legal system abuse have forced prices higher across society while losses in lines such as cyber insurance have also increased. As a result, insurers are facing… Continue reading Commercial Insurance Rates Increasing Due to Inflation, Legal System Abuse, Other Cost Drivers
USG Announces Hire of Perez in Houston, TX
USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the hire of AJ Perez as Producer/Broker: Commercial Lines in the Houston, TX branch office. Perez joins the USG team with 16 years of insurance industry experience, most recently with CRC Insurance. In his new role at USG, AJ will focus on… Continue reading USG Announces Hire of Perez in Houston, TX
Liberty Company Announces Partnership with Buren Insurance Group
The Liberty Company Insurance Brokers is proud to announce its new partnership with Buren Insurance Group of Ashland, Ohio. Buren Insurance Group was founded in 1968 by Don Buren and is currently led by his sons, Tim Buren, Chairman, and Jeff Buren, President and Managing Partner. As Jeff and Tim focused on their respective disciplines,… Continue reading Liberty Company Announces Partnership with Buren Insurance Group
Jackie Reinberg Joins Alliant Insurance Services’ Absence, Disability, and Life Team
Alliant Insurance Services continues to add top talent to its growing Absence, Disability, and Life (ADL) team, hiring Jackie Reinberg as Senior Vice President. The Wayne, Pennsylvania-based benefits consultant will design and deploy tailored solutions that enhance productivity and improve business outcomes for clients across the U.S., further expanding Alliant’s presence in the ADL market.… Continue reading Jackie Reinberg Joins Alliant Insurance Services’ Absence, Disability, and Life Team
SageSure and SURE Close Debut $150 Million Multi-Year Catastrophe Bond
SageSure and SureChoice Underwriters Reciprocal Exchange (“SURE”) today announced that SURE, a coastal property reciprocal insurer whose policies are exclusively available through SageSure, has successfully closed a $150 million private placement catastrophe bond transaction. SURE entered into a three-year reinsurance arrangement with Gateway Re Ltd., a newly established Bermuda special purpose insurer, which will provide… Continue reading SageSure and SURE Close Debut $150 Million Multi-Year Catastrophe Bond
Truckers Want More Trucks than Industry Can Build
The trucking industry in the United States, which is at the heart of the country’s struggle to move freight efficiently, is caught in its own constrained supply chain. Heavy-duty truck production is slowed by parts shortages that can’t keep up with a large backlog of orders, according to industry executives, preventing fleets from replacing and… Continue reading Truckers Want More Trucks than Industry Can Build
Carlyle to Acquire NSM Insurance from White Mountains in $1.78 Billion Deal
Private equity firm Carlyle Group Inc told Reuters on Monday it has agreed to acquire U.S. specialty insurance provider NSM Insurance Group from White Mountains Insurance Group Ltd for $1.78 billion in cash. Carlyle said the deal is expected to close in the second half of this year. The transaction is expected to add $280… Continue reading Carlyle to Acquire NSM Insurance from White Mountains in $1.78 Billion Deal