Hub International Limited, a leading global insurance brokerage and financial services firm, in partnership with Bold Penguin, Inc., an insurtech innovator, announced today that they have agreed to acquire the assets of Insureon Holdings, LLC and its affiliates. Pending the closings of two separate transactions, Hub will acquire the Insureon digital insurance agency and brand… Continue reading Hub and Bold Penguin to Buy Insureon
Author: Farkas Laura
Trager Reznitsky Insurance Acquires Stronghold Insurance’s P&C Division
Trager Reznitsky Insurance, an independent insurance agency based in Connecticut focusing on property and casualty, life accident and health, has acquired the property casualty division of Stronghold Insurance LLC, a full-service agency supporting clients with employee benefits, personal products and services and more. With this new purchase, the first acquisition for Trager Reznitsky, the company… Continue reading Trager Reznitsky Insurance Acquires Stronghold Insurance’s P&C Division
Kerstin VanZanten Joins Alliant’s Employee Benefits Group in Orange County
Alliant has hired Kerstin VanZanten as Vice President within its Employee Benefits Group. Based in Orange County, California, VanZanten joins Alliant with a diverse background that includes experience in benefits communication and enrollment and leadership roles with various large insurance carriers. “Kerstin has a unique understanding of the benefits process and is well versed in… Continue reading Kerstin VanZanten Joins Alliant’s Employee Benefits Group in Orange County
IICF Southeast Raises $1 Million for Charity at 10th Anniversary Benefit
The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, raised $1 million at its tenth anniversary IICF Southeast Benefit Gala at The Thompson Hotel in Dallas, Texas on Thursday. The event gathered insurance professionals from Texas and the broader insurance community throughout the southeast region, along with… Continue reading IICF Southeast Raises $1 Million for Charity at 10th Anniversary Benefit
Small Businesses Hit Hard in 2021 with 56% Rise in Average Cyber Claims Cost
According to the Coalition’s 2022 Cyber Claims report, ransomware claims severity appeared to be leveling off in the second half of 2021, but smaller businesses suffered disproportionately from a 56 percent increase in average claim cost and a 40 percent increase in ransomware events. The average ransom demand increased by 20% to $1.8 million, but… Continue reading Small Businesses Hit Hard in 2021 with 56% Rise in Average Cyber Claims Cost
Russian Ransomware Attacks on Ukraine Muted by Leaks, Insurance Woes
Warnings that pro-Russian ransomware gangs would snarl networks in Ukraine and its allies have so far failed to materialize, owing to disarray in the criminal underworld that is often behind such attacks, as well as fears that insurers would refuse to pay out. Conti, one of the most notorious Russia-based cybercrime groups known for using… Continue reading Russian Ransomware Attacks on Ukraine Muted by Leaks, Insurance Woes
Liberty Mutual Insurance Completes Acquisition of State Auto Group
Liberty Mutual Insurance has completed the acquisition of State Auto Group, a super-regional property and casualty insurance holding company headquartered in Columbus, Ohio that distributes personal and small commercial coverages in 33 states through approximately 3,400 independent agents. More than 2,000 State Auto employees will join Liberty Mutual’s Global Retail Markets US business unit. Through… Continue reading Liberty Mutual Insurance Completes Acquisition of State Auto Group
Alliant Named One of America’s Best Employers
Alliant has been named to Forbes’ prestigious list of America’s Best Employers, a recognition that places the firm in elite company among the nation’s leading midsize employers. The survey is conducted annually by Forbes and Statista, Inc. “Alliant is committed to building and nurturing a culture of leadership and collaboration, driven by the contributions of… Continue reading Alliant Named One of America’s Best Employers
Cargo Ship Carrying Thousands of Luxury Cars Sinks in the Atlantic
The Felicity Ace, a 60,000-ton merchant ship that caught fire on February 17 while transporting approximately 4,000 Lamborghini, Porsche, Bentley, Audi, and Volkswagen vehicles, sank Tuesday morning in the Atlantic Ocean about 220 nautical miles (253 miles) off the Azores islands, according to the ship’s management company. The Felicity Ace sank around 9 a.m. local… Continue reading Cargo Ship Carrying Thousands of Luxury Cars Sinks in the Atlantic
Market Conditions Continue to Stabilize with Exceptions: Woodruff Sawyer
Market conditions did not change significantly from the previous quarter in the fourth quarter of 2021, according to Woodruff Sawyer. We continue to see stabilization in many sectors of the commercial lines market, and cyber remains a concern for insurers as ransomware losses continue unabated. As premiums continue to rise, cyber buyers are feeling the… Continue reading Market Conditions Continue to Stabilize with Exceptions: Woodruff Sawyer