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Insurance News & Reinsurance News


Find here the latest insurance industry news from around the world. The news is updaily almost hourly.

Insurance News Update

Brightway Insurance Continues U.S. Expansion with First New Jersey Store
Brightway Insurance is continuing its expansion across the U.S. with the opening of its first store in New Jersey. Brothers Michael, Robert and Ray Norton will open Brightway, The Norton Agency in Blackwood, N.J., on December 18. Brightway also opened …
Deadly Northern New York Crashes Spur Bill Requiring Truck Side Guards
A bipartisan bill introduced by two U.S. senators would change truck safety standards to prevent crashes like the one that killed four people in northern New York this summer. The law introduced by Democrat Kirsten Gillibrand and Republican Marco Rubio …
Fidelis Takes Equity Stake in New MGA Firestone Surety
Fidelis Insurance announced it has taken an equity stake in a new managing general agent (MGA) Firestone Surety Ltd., and will provide underwriting capacity. Details about the amount of Fidelis’ investment and capacity provision were not released. London-based Firestone will …
Farmers Reports $1.2B in Claims from Northern California Wildfires
Farmers Insurance reported it has received more than 4,000 claims from the Northern California wildfires to date at an estimated gross cost of $1.2 billion. With reinsurance, the Los Angeles-based carrier estimates its incurred loss will be $140 million, and …
Louisiana Citizens Property Insurance Policy Count Continues to Drop
The Louisiana Department of Insurance (LDI) estimates that the state’s property insurer of last resort has gone from the third largest property insurance company to the 35th in 10 years. The eleventh round of depopulation is underway for the Louisiana …
Arkansas Lawmakers Want Panel to Reconsider Dicamba Ban
Arkansas lawmakers have recommended a regulatory panel look at revising its proposed ban of an herbicide farmers in several states say has drifted onto their crops and caused damage, nearly a month after a maker of the weed killer asked …
Issuer Credit Rating of Ohio?s Affinity Mutual Insurance Co. Downgraded
A.M. Best announced it has has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Affinity Mutual Insurance Co. (AMIC) in Lima, Ohio. The outlook of …
Michigan Insurance Agent Sentenced for Embezzling $800K from Clients
A suburban Detroit insurance agent has been sentenced to at least six years in prison for embezzling more than $800,000 from a dozen elderly clients. Paul Garceau Jr. of Grosse Pointe Park had pleaded guilty to embezzlement by an agent …
Westcap Insurance Services Ups Limits for Contractors Program, Expands into Arizona
Solvang, Calif.-based Westcap Insurance Services, LLC has expanded its admitted program for contractors to now include Arizona domiciled risks. Westcap also announced increased limits and other product enhancements to the program in the state of Washington. Westcap will now offer …
Tougher Utility Rules Being Considered in Wake of California Wildfires
California utilities may face tougher safety rules for power lines, phone lines and utility poles in parts of the state most prone to wildfires. Under the proposed rules being considered by the California Public Utilities Commission, tree branches would have …

Reinsurance News Update

Tougher Utility Rules Being Considered in Wake of California Wildfires
California utilities may face tougher safety rules for power lines, phone lines and utility poles in parts of the state most prone to wildfires. Under the proposed rules being considered by the California Public Utilities Commission, tree branches would have …
Westcap Insurance Services Ups Limits for Contractors Program, Expands into Arizona
Solvang, Calif.-based Westcap Insurance Services, LLC has expanded its admitted program for contractors to now include Arizona domiciled risks. Westcap also announced increased limits and other product enhancements to the program in the state of Washington. Westcap will now offer …
Brightway Insurance Continues U.S. Expansion with First New Jersey Store
Brightway Insurance is continuing its expansion across the U.S. with the opening of its first store in New Jersey. Brothers Michael, Robert and Ray Norton will open Brightway, The Norton Agency in Blackwood, N.J., on December 18. Brightway also opened …
Louisiana Citizens Property Insurance Policy Count Continues to Drop
The Louisiana Department of Insurance (LDI) estimates that the state’s property insurer of last resort has gone from the third largest property insurance company to the 35th in 10 years. The eleventh round of depopulation is underway for the Louisiana …
Issuer Credit Rating of Ohio?s Affinity Mutual Insurance Co. Downgraded
A.M. Best announced it has has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Affinity Mutual Insurance Co. (AMIC) in Lima, Ohio. The outlook of …
Deadly Northern New York Crashes Spur Bill Requiring Truck Side Guards
A bipartisan bill introduced by two U.S. senators would change truck safety standards to prevent crashes like the one that killed four people in northern New York this summer. The law introduced by Democrat Kirsten Gillibrand and Republican Marco Rubio …
Farmers Reports $1.2B in Claims from Northern California Wildfires
Farmers Insurance reported it has received more than 4,000 claims from the Northern California wildfires to date at an estimated gross cost of $1.2 billion. With reinsurance, the Los Angeles-based carrier estimates its incurred loss will be $140 million, and …
Michigan Insurance Agent Sentenced for Embezzling $800K from Clients
A suburban Detroit insurance agent has been sentenced to at least six years in prison for embezzling more than $800,000 from a dozen elderly clients. Paul Garceau Jr. of Grosse Pointe Park had pleaded guilty to embezzlement by an agent …
Fidelis Takes Equity Stake in New MGA Firestone Surety
Fidelis Insurance announced it has taken an equity stake in a new managing general agent (MGA) Firestone Surety Ltd., and will provide underwriting capacity. Details about the amount of Fidelis’ investment and capacity provision were not released. London-based Firestone will …
Arkansas Lawmakers Want Panel to Reconsider Dicamba Ban
Arkansas lawmakers have recommended a regulatory panel look at revising its proposed ban of an herbicide farmers in several states say has drifted onto their crops and caused damage, nearly a month after a maker of the weed killer asked …

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