Axon launches crisis-management division | Insurance Business

Axon Underwriting Services has announced the formation of a crisis-management division to offer product-recall and foodborne illness and contamination coverage for US-domiciled clients. Axon Crisis Management is led by Alex Pittignano, senior vice president, and Marcos Garcia Norris, senior vice president. Pittignano and Norris have more than 45 combined years of underwriting experience. Pittignano has […]

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BRP Group subsidiary acquires real estate insurance agency, employee benefits providers

Baldwin Krystyn Sherman Partners (BKS-Partners) – the middle-market subsidiary of Baldwin Risk Partners Group (BRP Group) – has acquired three firms. The acquired firms are Rosenthal Brothers in Chicago, Trinity Benefit Advisors (TBA) in Tennessee, and Russ Blakely & Associates (RBA), also in Tennessee. Rosenthal Brothers is a provider of P&C insurance, employee benefits and […]

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Marsh makes case for public-private pandemic risk solution

Global insurance broker and risk advisor Marsh has published a new report making a case for a public-private pandemic risk solution. “We believe a pandemic risk solution is needed now to accelerate our economic recovery from the global COVID-19 pandemic and provide much-needed protection against future pandemic risks,” said John Doyle president and CEO of […]

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SIAA hits $9.1 billion in written premium

SIAA (Strategic Insurance Agency Alliance), the largest independent insurance agency alliance in the country, has reached $9.1 billion in total written premium. “Surpassing $9 billion in premium demonstrates the strength, stability and ongoing success of the organization, its member agencies, and its strategic partners,” said Jim Masiello, chairman of SIAA. SIAA, now in its 25th […]

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Insurance agent on how COVID-19 has impacted his business

It’s not just operational changes that have impacted insurance agencies; there are also major concerns about dips in revenue, especially in areas like auto insurance and workers’ compensation insurance, where premiums are expected to decline due to fewer drivers on the road and greater unemployment amid the pandemic. But like all things COVID-19-related, there’s no […]

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Greenlight to reopen doesn’t offset coronavirus-related risks

“Many [businesses] that are opening up think that somehow by some governor’s fiat or by the president’s, that’ll protect them in a lawsuit and it won’t,” said Jim Hood (pictured), who served as Attorney General of Mississippi from 2004 to 2020 and is today an attorney at Weisbrod Matteis & Copley PLLC. “The standard of […]

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RenaissanceRe aiming for massive capital raise

A whopping 5.5 million of RenaissanceRe Holdings Ltd’s common shares are up for grabs in an underwritten public offering. The global (re)insurance provider – which has offices in Bermuda, Australia, Ireland, Singapore, Switzerland, the UK, and the US – has commenced the offering, with Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC […]

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AIG confirms major sale | Insurance Business

The Carlyle Group and T&D Holdings have completed their acquisition of 76.6% interest in Fortitude Group Holdings from American International Group (AIG). The transaction was first announced last November. Fortitude Group Holdings’ reinsurance subsidiary Fortitude Re is now being positioned as a major provider of retroactive reinsurance and legacy run-off management solutions, armed with the […]

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