The Justice Department said S&P Global Inc. should “carefully consider” a proposed change to how it evaluates the creditworthiness of bonds owned by insurance companies, warning that such a change “could raise significant concerns” under US antitrust law. In a letter dated last Friday, the Justice Department’s antitrust division stated that S&P, the world’s largest… Continue reading DOJ Antitrust Chief Warns S&P Global Over Insurer Ratings Tweak
Tag: bonds
Liberty Company Partners with R.W. Babcock Insurance Brokerage
The Liberty Insurance Brokers is proud to announce its most recent partnership with R.W Babcock Insurance Brokerage, Inc. of Pleasanton, California. Founded in 2013 and led by Rob Babcock, R.W. Babcock Insurance specializes in insurance, surety, and various services for the construction, technology, manufacturing, and life sciences industries. Recently, Rob told the Liberty team, “I’m… Continue reading Liberty Company Partners with R.W. Babcock Insurance Brokerage
New Infrastructure Law Expected to Boost U.S. Surety Market: AM Best
The recently enacted $1.2 trillion U.S. infrastructure package is expected to result in more business opportunities for surety companies given the new and sizable investments that the transportation and energy sectors will see, according to a new AM Best report. The new law includes $550 billion in new spending on infrastructure over the next five… Continue reading New Infrastructure Law Expected to Boost U.S. Surety Market: AM Best
Old Republic Surety Says Surety Business ‘Must Lead in Recovery, Infrastructure and Expansion’
Surety carriers and professional bond producers must step up to lead as growing employment fuels economic expansion and the federal government increases spending, says Alan P. Pavlic, president and chief operating officer of Old Republic Surety Co., the nationwide surety carrier that is part of Old Republic International Corp. “The right underwriting, the right product,… Continue reading Old Republic Surety Says Surety Business ‘Must Lead in Recovery, Infrastructure and Expansion’
SpottedRisk Acquires Media Guarantors
SpottedRisk, a leading provider of entertainment insurance, today announced that it has acquired Media Guarantors, a fast-growing, specialized Managing General Underwriter focused on completion bonds. Media Guarantors has been a subsidiary of Cast & Crew, a leading provider of payroll and human resources, accounting and financial management, and workflow and productivity software and services to… Continue reading SpottedRisk Acquires Media Guarantors
McNeil & Company to Acquire Bonding & Insurance Specialists Agency, Inc.
McNeil & Company (McNeil), a leader in specialized risk assessment and insurance, announced announced that it has acquired Bonding & Insurance Specialists Agency, Inc. (BISA), a firm providing insurance products in the environmental and restoration industries. As part of the agreement, BISA has become a program of McNeil. The company will remain in its place… Continue reading McNeil & Company to Acquire Bonding & Insurance Specialists Agency, Inc.
Liberty Mutual Acquires Surety and Credit Reinsurance Operations of AmTrust
Liberty Mutual Insurance announced today it has signed a definitive agreement to acquire the global surety and credit reinsurance operations of AmTrust Financial Services, Inc. (AmTrust), a multinational property and casualty insurer specializing in coverage for small to midsized businesses. Upon closing, Liberty Mutual will acquire four AmTrust businesses: AmTrust Surety, previously managed by Insco Dico, which provides contract, commercial, and subdivision… Continue reading Liberty Mutual Acquires Surety and Credit Reinsurance Operations of AmTrust