May 31
Big I, Namic, Apcia Unveil “Customer Focused” Federal Pandemic Protection Plan
The National Association of Mutual Insurance Companies (NAMIC), the American Property Casualty Insurance Association (APCIA), and the Independent Insurance Agents & Brokers of America, Inc. (Big “I”) unveiled a new customer-focused proposal for a federal program tailored specifically to help businesses meet the financial challenges from future pandemics. The industry-backed Business Continuity Protection Program (BCPP) would provide revenue replacement assistance for payroll, employee benefits, and operating expenses following a presidential viral emergency declaration.
The Next Pandemic Has Begun to be “Courted”
Whether or not a particular policy contains an explicit exclusion for pandemics or some similar condition, misses the point: there is no federal pandemic backstop, as there is for Terrorism. And, by the way, if you follow the early line from the White House, it may have been purposefully motivated, i.e. terroristic in nature.. This […]
Zurich N. America brings Apprenticeship Program to NYC
Zurich North America is expanding its professional apprenticeship program from its Chicagoland headquarters to its downtown New York City office, with the Borough of Manhattan Community College as the education provider. Zurich’s earn-while-you-learn apprenticeship program, launched at its Schaumburg headquarters in 2016, is designed to attract diverse talent to the insurance industry while providing a […]
MSO Advances Megan Townley
MSO, Inc. (The Mutual Service Office, Inc.), continues to grow in a strong manner, promoting from within its talented ranks. Megan Townley has been named to the position of Assistant Vice President Operations and Program Management. Ms. Townley joined MSO, Inc. in 1998 as Network Administrator and has held various positions including Director of Operations […]
Risk Retention Groups Report Surplus Growth Despite Underwriting Losses
By Douglas A. Powell A review of the reported financial results of risk retention groups (RRGs) reveals insurers that continue to collectively provide specialized coverage to their insureds while remaining financially stable. Based on reported financial information, RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses. […]
PIANJ Elects Leadership for Coming Year
The Professional Insurance Agents of New Jersey elected five independent insurance agents from around the state to its board of directors, at the association’s annual business meeting. The following individuals were re-elected to serve for a three-year term, expiring in 2023: Michael Beckerman, CPCU, of Millington, N.J. Beckerman is president of Beckerman & Co./Acrisure in […]
A Victory For American Transit Insurance Company As It Defeats Motion to Dismiss Filed by Health Care Providers on $28 Million Lawsuit
American Transit defeated a motion to dismiss filed by various health care providers in a lawsuit seeking a declaration that American Transit has no obligation to pay claims and to recover the payments that it has made relating to fraudulent and abusive claims made under New York automobile no-fault coverage. The lawsuit was filed in […]
PartnerRe Appoints Head of U.S. Casualty
PartnerRe has just announced the appointment of Gareth Stanley as Head of U.S. Casualty. Mr. Stanley assumes responsibility to lead Partner Re’s strategic effort to r grow and develop its U.S. Casualty business by providing clients with relevant and impactful casualty reinsurance solutions, the announcement states. He will be based in PartnerRe’s Stamford office and […]
How COVID-19 is Impacting the Home Insurance Industry
By Bill Martin Accidents at home don’t disappear in a pandemic, but they do require home insurers to make some critical adjustments. The auto insurance industry has been busy developing relief plans to return unexposed premiums and support their customers financially through COVID-19. Home insurers have a different opportunity to help. Homeowners are taking this […]
