August 2025
The MGA Market: Performance Leader as Dramatic Growth Continues
The MGA market continued its growth in 2024, with DPW (direct premiums written) rising 16% from the prior year, outpacing growth in the overall property-casualty market of 10%. We estimate that, in all its dimensions, U.S. MGA business was a $114.1 billion market in 2024. A Conning Report on the subject included several findings. Historically, […]
Fewer Than Half of U.S. Physicians in Private Practice
The share of U.S. physicians working in private practice continues to decline, dropping from 60.1% in 2012 to just 42.2% in 2024, according to the American Medical Association’s latest Physician Practice Benchmark Survey. This trend reflects the growing influence of hospitals and corporate entities over the U.S. healthcare delivery system and presents an ongoing challenge […]
The Real Threat Behind Carrier Failures: Tech-Enabled Claim Instigation
By Allen W. Kerr After more than 40 years in the insurance business, including serving as Arkansas Insurance Commissioner and Chair of the NAIC’s Market Regulation and Consumer Affairs Committee, I’ve seen our industry weather a great deal. But the greatest challenge we face today doesn’t come from market cycles, catastrophic losses, or poor management. […]
Applied Underwriters Launches Innovation Risk, an Independent MGA Platform Focused on Proprietary Technology and Methods in Advanced Risk Measurement
The new, independently operated MGA platform is expected to attract top underwriting and tech talent worldwide and will begin operations by consolidating Applied’s proven and patented innovations and extensive R&D and technical resources Mr. Steve Menzies, Chairman, Applied Underwriters, has announced the launch of Innovation Risk, a new MGA platform that will focus on casualty, […]
United Risk Acquires Verita CSG from WTW, Ensuring Continuity for All Clients, Agents and Brokers Under New Verist Brand
Mr. Rick Christofer, Chief Commercial Officer for United Risk, has announced that United Risk has acquired a portfolio of risks along with the Verita CSG, Inc. legal entity from WTW (NASDAQ: WTW) and branded the new venture as Verist LLC (“Verist”) keeping former Verita leadership, staff and operations associated with the portfolio fully intact and […]
Plymouth Rock and Innovative Benefit Planning Align to Launch New Auto Insurance Discount Program
Plymouth Rock Assurance, a leading auto and home insurance provider in the Northeast, has announced a new auto insurance discount program in collaboration with Innovative Benefit Planning (Innovative). This opportunity reflects Plymouth Rock’s commitment to supporting Innovative members and their employees with valuable benefits, tailored coverage options, and dedicated service. The program offers personal auto […]
Hanwha Life Completes Acquisition of U.S.-Based Velocity Clearing, LLC, Becoming the First Korean Insurer to Signal a Bold Expansion into North American Capital Markets
Hanwha Life, South Korea’s first life insurance company, has officially acquired a 75% stake in U.S.-based global financial services firm Velocity Clearing, LLC. The deal marks a bold strategic move into the North American capital markets—beyond Hanwha Life’s standard insurance business. With this transaction, Hanwha Life becomes the first Korean insurance company to acquire a […]
Statutory Penalties Must be Based on Evidence
When an appeal involved issues concerning the statutory penalties that apply to an insurer who knowingly or arbitrarily fails to pay a settlement to a third-party claimant within 30 days after a settlement agreement is reduced to writing The plaintiff, James Bridges, Sr., settled his claims arising from an automobile accident for $450,000. The trial […]
No Right to Sue a Person Not a Party for Breach of Contract
A Court Will Never Accept Legal Conclusions in a Suit The plaintiff, Nataly Gasova, claimed a breach of contract related to an insurance policy which IISS sold to her. IISS moved to dismiss the complaint, arguing inter alia that there was no contract between these parties. Gasova moved to amend her complaint to abandon her […]
