news

Trident Marine Managers, Nationwide E&S enter underwriting agreement

Trident Marine Managers has entered a new delegated authority underwriting agreement with Nationwide E&S, to offer recreational marine and marine equipment insurance solutions, as well as workers’ compensation. Trident is a managing general underwriter subsidiary of RSG Underwriting Managers (RSGUM), which specializes in marine insurance. Under the partnership, Trident’s Nationwide E&S recreational marine and marine…

news

Diversity leader joins Women in Insurance Initiative

Million Women Mentors’ Women in Insurance Initiative (MWM WII) has announced that Dr. Leroy David Nunery II (pictured) has joined the organization as a senior advisor for diversity, equity, and inclusion (DE&I). In this role, Nunery will help the organization work toward more inclusion for all within the insurance industry. Nunery, a long-time leader in…

news

Costero Brokers moves for Prospect Insurance Brokers

Lloyd’s of London broker Costero Brokers Ltd., investors of which include US firm Heffernan Insurance Brokers, has acquired Prospect Insurance Brokers for an undisclosed sum. “It is fantastic to see Costero Brokers expanding with the purchase/merger of Prospect, to be part of the new initiatives going forward, and to be working collaboratively to create innovative…

news

NCCI on the direct and indirect impacts of the pandemic

“Business as usual” is what the National Council on Compensation Insurance (NCCI) has promised as it navigates through COVID-19 challenges to complete its workers’ compensation rate filing season for 2021. The organization, which gathers workers’ compensation data, analyzes industry trends, and provides objective insurance rate and loss cost recommendations in 38 states, intends to “make…

news

Duo partner up for cyber package

Cybersecurity insurance company Elpha Secure and Sterling New Age Cyber have partnered to launch ES-1000, an all-inclusive, complimentary cybersecurity package. A business would generally spend in excess of $300 per user annually for the protections offered by ES-1000, said Geraldine DelPrete, president of programs for SterlingRisk. “From the moment a policy is bound, Elpha Secure…

news

Berkshire Hathaway bounces back during Q2 but hit with H1 loss

It’s the turn of Berkshire Hathaway Specialty Insurance (BHSI) parent firm Berkshire Hathaway Inc. to reveal its interim financial results – and it’s a half-full/half-empty scenario, depending on what period you’re looking at. In the second quarter of 2020, the multinational conglomerate enjoyed $26.30 billion in net earnings attributable to Berkshire shareholders – a major…

news

Lloyd's warns about impact of coronavirus on intangible assets

As the COVID-19 pandemic amplifies the acceleration of digital business models, Lloyd’s has expressed concern that intangible assets might become a major blind spot for businesses not factoring them into their risk models. Lloyd’s latest report, released in collaboration with KPMG, urges businesses to focus on the new risk landscape that has developed amid the…

news

Insurer reacts to proposed Non-profit Property Protection Act

A bill pending before the House Financial Services Committee – H.R. 4523, Non-profit Property Protection Act – is proposing to allow well-established risk retention groups (RRGs) to expand their offering beyond liability risks to meet their members’ property and auto physical damage insurance needs. The bill seeks to amend the Liability Risk Retention Act (LRRA)…

news

CRC Group expands binding capabilities in the Midwest

CRC Group has announced the opening of a new Indianapolis office and several strategic hires as part of its goal to expand binding capabilities in the Midwest. The company is also considering M&A targets in the region. Mark Maucere has been hired as office president of the new Indianapolis office, bringing with him more than…