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Category: Insurance


Activity, Insurance

New York Finalizes Regulations to Crack Down on Title Insurance Industry

October 18, 2017

Via: Insurance Journal

The New York Department of Financial Services (DFS) has finalized two new regulations to protect New Yorkers and crack down on unscrupulous practices in the title insurance industry. These regulations, which are the culmination of efforts by DFS to reform […]


Activity, Channels, Insurance

Universal Insurance Holdings Expands to New York with Launch of Universal Direct

October 17, 2017

Via: Insurance Journal

Universal Insurance Holdings Inc. has announced that its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (UPCIC), has written its first homeowners policy in New York. The company also announced the official launch of Universal Direct, the direct-to-consumer online platform […]


Activity, Insurance

SCC Names White as New Virginia Commissioner of Insurance

September 29, 2017

Via: Insurance Journal

The State Corporation Commission (SCC) in Virginia has appointed Scott A. White to serve as Virginia’s 14th Commissioner of Insurance in the 111-year history of the SCC’s regulation of the insurance industry. White assumes the post on Jan. 1, 2018, […]


Activity, Insurance

Despite Rise in Catastrophe Losses, Home Insurance Loss Costs Declined in Recent Years

September 28, 2017

Via: Insurance Journal

In 2016, Colorado and Texas homeowners suffered the greatest percentage of catastrophic losses due to extreme weather and other perils, according to a study of home insurance trends. The six-year LexisNexis Risk Solutions study indicates that despite the rise of […]


Activity, Insurance

Hardened Market, Higher Insurance Pricing Expected as a Result of Recent Hurricanes: KPMG Survey

September 14, 2017

Via: PR Newswire

NEW YORK, Sept. 14, 2017 /PRNewswire/ — A KPMG survey of more than 300 senior insurance executives found that 44 percent of respondents expect the property market to harden in the short-term, with reduced supply and higher premiums, as a […]


Activity, Insurance, Investment banking

Alleghany Corporation Announces Sale Of Pacific Compensation Insurance Company

September 13, 2017

Via: PR Newswire

NEW YORK, Sept. 13, 2017 /PRNewswire/ — Alleghany Corporation (NYSE: Y) today announced that its wholly-owned subsidiary Alleghany Insurance Holdings LLC, has signed a definitive agreement to sell Pacific Compensation Insurance Company (PacificComp), an underwriter of workers’ compensation insurance, primarily […]


Activity, Insurance

U.S. Taxpayers Face Hit From Flood-Insurance Program Drowning in Debt

September 1, 2017

Via: TheStreet

The National Flood Insurance Program is nearly broke, and just at the worst possible time. The U.S. government’s 49-year-old flood-insurance program is about $25 billion in debt, with just $1.7 billion of cash and $5.8 billion of borrowing capacity. And […]


Activity, Insurance

Key House Chairman Wants Flood Insurance Reforms, Not Just Renewal

August 29, 2017

Via: Insurance Journal

A key Republican said Hurricane Harvey will spur Congress to reach a deal to fund the nation’s flood insurance program before it expires next month, even though divisions persist over how much the federal government should be on the hook […]


Activity, Insurance, Products, Retail banking

High Cost, Scarcity of Insurance Keeping Vendors from Sears Shelves

August 28, 2017

Via: Insurance Journal

U.S. department store operator Sears Holdings Corp. is having trouble stocking shelves, as some vendors have fled while others are demanding stricter payment terms because of difficulties hedging against default risk. The strain in Sears’ supply chain is exacerbated by […]


Activity, Insurance

Berkshire Hathaway Reports Losses on Re/Insurance Underwriting in Q2

August 7, 2017

Via: Insurance Journal

Warren Buffett’s Berkshire Hathaway insurance and reinsurance businesses lost money or gained less in underwriting in the second quarter and first six months of 2017 compared to last year while his railroad, manufacturing, energy and utilities businesses all reported increased […]