Most Americans agree U.S. insurers price personal auto and homeowners policies by using fair rating variables yet nearly half of them (47 percent) said paying for coverage was a challenge, a newly-released Insurance Research Council (IRC) survey found.
Tag: personal insurance
Kemper Announces Exit from Preferred Home and Auto Business
Kemper Corporation announced on Monday that it is exiting the preferred home and auto insurance market, sold through its Kemper Personal Insurance brand, and will actively reduce the business immediately, with all policies being non-renewed or canceled in accordance with applicable state regulations.
Hub Expands Commercial and Personal Insurance Capabilities with Acquisition of Compass Insurance Services
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
Berkley One Expands Into Four New States
Berkley One (a Berkley Company), an insurance provider for modern, sophisticated individuals and families, has expanded its personal insurance portfolio to Delaware, Montana, South Carolina and Wyoming. Insurance solutions from Berkley One are now available in 29 geographies. “Always moving forward is not only our brand promise but also our approach to accelerating our expansion… Continue reading Berkley One Expands Into Four New States
Allianz Buys Westpac Insurance Business
Allianz has acquired the Westpac general insurance business in a A$725 million deal that includes a 20-year agreement for distribution of products to the bank’s customers. The insurer says the transaction is an important step in building its consumer portfolio in Australia and builds on an existing relationship with Westpac, in place since 2015, that… Continue reading Allianz Buys Westpac Insurance Business
Lykes Insurance Sold to Tampa-based Baldwin Krystyn Sherman Partners
Tampa insurance brokerage and risk management company Baldwin Krystyn Sherman Partners has bought Lykes Insurance, formed in 1925 as part of the wide-ranging Lykes Bros. agribusiness empire. Terms of the deal, which closed on March 13, were not disclosed. The buyer, which goes by BKS-Partners, has more than 300 employees in offices throughout the Southeastern… Continue reading Lykes Insurance Sold to Tampa-based Baldwin Krystyn Sherman Partners
AIG Canada to Stop Underwriting New Individual Personal Policies
AIG Canada is pulling out of writing personal lines business in Canada. AIG communications director Lynn Woodburn confirmed to Canadian Underwriter Wednesday evening that it would no longer underwrite new policies in personal lines. This confirmed speculation among brokers that came to light late last week. The decision does not affect AIG’s commercial business, which… Continue reading AIG Canada to Stop Underwriting New Individual Personal Policies
Online Posts Could Directly Impact Insurance Coverage
What insurance policy holders do in their daily lives may not be so private. If you’re posting any information publicly online, your insurance company could be using it to determine your coverage, CBS2’s Natalie Duddridge reported Thursday. Posing in front of a great white shark and dangling your feet out the side of a helicopter… Continue reading Online Posts Could Directly Impact Insurance Coverage
Wells Fargo Gives Up California Insurance License Over Renters Insurance Violations
Wells Fargo is prohibited from selling or brokering personal insurance in the state of California for at least three years as part of a settlement with the state over allegations that the bank signed customers up for renters and life insurance products without their knowledge. The settlement with the California Department of Insurance stems from… Continue reading Wells Fargo Gives Up California Insurance License Over Renters Insurance Violations
Donegal Mutual Exits Personal Lines Insurance Business in 7 States
Donegal Mutual Insurance Co. said Monday it is exiting the personal lines insurance business in seven states. Marietta-based Donegal said it is transferring its personal lines business in Alabama, Maine, Nebraska, New Hampshire, North Carolina, South Carolina and South Dakota to Safeco Insurance. Financial terms were not disclosed, nor was Donegal’s number of personal lines… Continue reading Donegal Mutual Exits Personal Lines Insurance Business in 7 States