Since its founding in 1889, the Insurance Advocate® has been the magazine that covers the people and issues affecting the insurance industry in New York, New Jersey, Eastern Pennsylvania, Connecticut and beyond.
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Insurance News
AUW founder, Steve Menzies, Acquires Insurance Companies from Berkshire Hathaway in $920MM Transaction
Applied Underwriters, Inc. and its subsidiary North American Casualty Co. (“A” rated, A.M. Best), a group of diversified, national financial services companies, has been acquired by Applied’s founder, Steve Menzies, joined by the Quasha Group led by Quadrant Management. The transaction, valued at $920MM, included the buyout of all other shareholders including the 81% of the 25 year old Company’s stock held by Berkshire Hathaway Inc.
“The combination of strengths that our experience and our enterprises bring to Applied will foster robust organic growth, as has long been Steve Menzies’ approach in making Applied a national leader…”
In Memoriam: Art Marchiselli
It is with great sadness that we mourn the loss of a great friend and insurance advocate, Art Marchiselli (1935-2019). Artie was one of the founding members of NYACT and without his leadership NYACT would not be the organization it is today. His unwavering pursuit of uncovering insurance fraud and addressing auto theft has been […]
Berkshire Offering Commercial Coverage in NJ
Berkshire Hathaway GUARD Insurance Companies recently added their Commercial Package product in New Jersey. This offering includes: Commercial Property with limits up to $120 million per location with an enhanced causes of loss form which includes built-in equipment breakdown and inland marine coverages as well as crime coverage; General Liability with base limits of $1 […]
Insurance Brokers’ Association of NY Elects Justin Foa President
NEW YORK, NY—Justin Foa, CPCU, President and CEO of Foa & Son International Insurance Brokers (pictured right), has been elected to serve as president of the Insurance Brokers’ Association of the State of New York. Mr. Foa was elected to the Board of Directors in 2010, appointed to the Executive Committee in 2015 and sworn […]
