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WALMART QUIETLY ENTERS INTO HEALTH INSURANCE BUSINESS

Jul 09, 2020

In a surprise move, retail corporation Walmart has entered the health insurance market and has even begun hiring licensed insurance agents for its new business.The company announced in a virtual conference that it would start selling health insurance plans with the creation of “Walmart Insuran...

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LIBERTY COMPANY INSURANCE BROKERS ASSOCIATES WITH THE BROWNING AGENCY

Jul 08, 2020

Liberty Company Insurance Brokers (LCIB) has formed a partnership with The Browning Agency in Ponte Vedra, FL. The Browning Agency, established in 1989, is a full-service brokerage and consulting firm specializing in high net worth personal lines. The brokerage also has an exclusive program with the...

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9.6% PERMANENT RATE DECREASE IN AUTO INSURANCE POLICIES FOR ALL STATE FARM INSURANCE POLICYHOLDERS

Jul 07, 2020

The Louisiana Insurance Commission has approved a 9.6% permanent rate decrease in auto insurance policies for all State Farm Insurance policyholders in the state, commissioner Jim Donelon announced on Monday. This marks the fourth occasion State Farm has reduced rates in recent times. In 2018, the i...

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AXA XL COMPLETES AN ALTERNATIVE CAPITAL REINSURANCE TRANSACTION WITH TEXAS MGA BLUEFIRE

Jul 07, 2020

Bluefire Insurance, a Texas-based managing general agency, and Bermuda-based AXA XL Reinsurance, have announced the completion of an alternative capital reinsurance transaction in which Bluefire will assume risk from its personal auto portfolio through a collateralized reinsurance agreement with AXA...

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LA CAPITALE AND SSQ INSURANCE MERGER OF EQUALS IS NOW OFFICIAL

Jul 06, 2020

La Capitale and SSQ Insurance have jointly announced that their merger is now official creating Canada’s largest mutual insurance company with more than 3.5 million members and clients. Mutual members of the respective companies gave their approval for the deal in March. And last month, the me...

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AGCS EMBARKS ON GLOBAL TRANSFORMATION PROGRAM TO REGAIN PROFITABILITY AND MARKET LEADERSHIP

Jul 02, 2020

Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, has announced a comprehensive transformation program, “New AGCS”. The program aims to regain profitability and market leadership in the corporate and specialty insurance segment. The company has mad...

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NORTH CAROLINA-BASED BB&T REBRANDS AS TRUIST INSURANCE HOLDINGS

Jun 30, 2020

BB&T Insurance Holdings, Inc., a subsidiary of Truist Bank, is officially now doing business as Truist Insurance Holdings, Inc.With $30 billion in premium in 2019, Truist Insurance Holdings is the fifth-largest insurance broker in the U.S. and sixth-largest in the world, according to a statement...

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AIG TO TRANSITION UPPER-MIDDLE-MARKET CLIENTS TO OTHER INSURERS

Jun 30, 2020

American International Group has announced that it has entered into an agreement with Safeco Insurance, a Liberty Mutual company, and Heritage Insurance Holdings to offer AIG Private Client Group’s (PCG) agents the ability to transition their upper-middle-market personal insurance business to ...

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FCA BUSINESS INTERRUPTION TEST CASE: A PEEK INTO INSURERS' DEFENCES

Jun 25, 2020

All of the defendants in the Financial Conduct Authority’s (FCA) High Court business interruption test case have served their defences, and Insurance Business brings you some of the key points from the documents.“The true position is that a number of separate, individual actions were tak...

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INSURER LEMONADE SEEKS TO RAISE $286 MILLION IN IPO

Jun 25, 2020

Insurance startup Lemonade Inc., which is backed by SoftBank Group Corp., said on Thursday it was looking to raise up to $286 million in its U.S. initial public offering (IPO), as the IPO market gains momentum after COVID-19 put many debuts on hold.Lemonade’s public listing comes amid a strong...

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OREGON EXTENDS EMERGENCY ORDERS FOR MOST COMMON INSURANCE POLICIES

Jun 23, 2020

The Oregon Department of Consumer and Business Services’ Division of Financial Regulation extended its emergency orders for property/casualty, long-term care, and life and disability insurance. The orders mean that the most common insurance policies, such as auto, home, term and whole life, an...

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ACCENTURE AND SOPRA STERIA TO HELP FRENCH INSURANCE GROUP COVÉA TRANSFORM ITS FINANCE FUNCTION

Jun 22, 2020

Accenture (NYSE: ACN) and Sopra Steria are helping Covéa, France's largest property and casualty insurer, with its finance transformation program as part of a four-year joint agreement.The program aims to modernize and simplify the insurance group’s finance function across its three...

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TRENDING NEWS

ELPHA SECURE AND STERLING NEW AGE HAVE PARTNERED TO LAUNCH ES-1000, A CYBERSECURITY INSURANCE PACKAGE

Aug 10, 2020

Cybersecurity insurance company Elpha Secure and Sterling New Age Cyber have partnered to launch ES-1000, an all-inclusive, complimentary cybersecurity package. A business would generally spend in excess of $300 per user annually for the protections offered by ES-1000, said Geraldine DelPrete, presi...

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SAPIENS ANNOUNCED THE AVAILABILITY OF SAPIENS CORESUITE FOR LIFE INSURANCE ON MICROSOFT APPSOURCE

Aug 07, 2020

Sapiens International Corporation, (NASDAQ: SPNS) (TASE:SPNS), a leading global provider of software solutions for the insurance industry, today announced the availability of Sapiens CoreSuite for Life Insurance on Microsoft AppSource, an online cloud marketplace that provides tailored line-of-busin...

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PIE INSURANCE UNVEILED ITS PARTNER PORTAL

Aug 06, 2020

Pie Insurance, one of the nation's leading insurtechs providing workers' compensation insurance to small businesses, today unveiled its partner portal. The portal uses proprietary technology that makes it easier for partner agents to submit their clients for workers' comp coverage and tr...

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HAWKSOFT INTEGRATES WITH ROCKET REFERRALS TO AUTOMATE MAINTAINING RELATIONSHIPS WITH INSUREDS

Aug 05, 2020

Successful independent agencies know that their best source of new business is their existing clients. This is a philosophy shared between HawkSoft and Iowa-based Rocket Referrals, a leader in managing and automating communications with insureds. Today, both companies are excited to announce that th...

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AXON ANNOUNCED THE ADDITION OF RENEWAL PORTFOLIO OF AGCS

Aug 04, 2020

Axon Underwriting Services has announced the acquisition of the renewal portfolio of Allianz Global Corporate & Specialty’s (AGCS) US contaminated and consumer products recall insurance business written through Allianz Global Risks US Insurance Company.We at Axon Crisis Management are exci...

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ATHOS INSURANCE CELEBRATES CONTINUED PARTNERSHIP WITH SHAREGRID TO PROVIDE THE BEST PROTECTION TO SHAREGRID'S CUSTOMERS

Jul 31, 2020

National entertainment and production insurance agency, Athos Insurance celebrates their continued partnership with ShareGrid – the largest, most trusted peer-to-peer camera sharing community for gear rental and camera sharing to provide the best protection to ShareGrid's customers. Athos&...

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ACRISURE ACQUIRES AI LEADER TULCO’S TO THE INSURANCE BROKERAGE INDUSTRY

Jul 30, 2020

In a transformational move, Acrisure today announced that it has acquired artificial intelligence (AI) leader Tulco LLC’s insurance practice to bring best-in-class data science, AI, and machine learning capabilities to the insurance brokerage industry. This transaction enables true deployment ...

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WORRY+PEACE MARKED ITS FIRST FORAY INTO OPEN INSURANCE WITH SCALABLE REVIEW-FOCUSED TOOLS

Jul 29, 2020

Insurtech company Worry+Peace has marked its first foray into open insurance with the release of a pair of automated and scalable review-focused tools accessible to all providers who are using the firm’s online platform. Reviews API gives each insurer a default key and a corresponding product ...

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MILLIMAN RELEASES NEW VERSIONS OF SYSTEMS FOR P&C INSURERS

Jul 27, 2020

Global consulting and actuarial firm Milliman has released version 2020b of its Arius reserve analysis systems for property and casualty insurers. The update provides significant enhancements to the products’ analytical capabilities and additions to their reporting and data-management tools.Th...

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COALITION ENTERED EXCESS CYBER INSURANCE MARKET TO OFFER PRIMARY INSURANCE COVERAGE

Jul 24, 2020

Cyber insurance and security company Coalition has announced it is entering the excess cyber insurance market. The move will extend Coalition’s reach beyond offering primary insurance coverage. The company will now be able to provide brokers with excess cyber liability and technology errors an...

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LLOYD'S TO OFFER COVER FOR THE DELIVERY OF ANY FUTURE VACCINE FOR COVID-19 TO LOW-INCOME COUNTRIES

Jul 23, 2020

Earlier this week, fresh hope of a COVID-19 vaccine was introduced by researchers at Oxford University, who described the initial results of their attempts to create a vaccine as “encouraging”. Today, the Financial Times (FT) has reported that Lloyd’s of London is going to start of...

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BERKSHIRE HATHAWAY SPECIALTY INSURANCE NOW PRESENT IN THE MAJOR CITY

Jul 22, 2020

Berkshire Hathaway Specialty Insurance (BHSI) has added Manchester to its roster of locations as the Boston-based insurance behemoth continues its British expansion. Coinciding with the office launch is the appointment of three national product line leaders UK national property manager Irfan Esa, UK...

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SPOTLIGHT

CYBER INSURANCE MARKET WATCH SURVEY

The Council of Insurance Agents & Brokers (The Council) is pleased to release its fourth biannual Cyber Insurance Market Watch Survey. The survey, which consisted of 16 questions designed to provide insights into the burgeoning cyber insurance market, creates a snapshot of the market allowing us

RESOURCES

DECK 7 WEBINAR BENCHMARKS AND BEST PRACTICES REPORT

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Read the Deck 7 Webinar Benchmarks & Best Practices Report to see how your webinars measure against market benchmarks. And learn about the best practices...
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Next-Generation Legal Operations

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Learn about the strategies legal operations professionals are adopting to address today’s challenges....
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Events

DISCOVERY IN BAD FAITH INSURANCE LITIGATION: KEY TO SUCCESSFULLY PROVING OR DEFENDING CLAIMS

August 12-12, 2020

This CLE webinar will discuss unique discovery requests that arise when a policyholder argues that its insurer's investigation and subsequent denial of its claim was arbitrary, capricious, and undertaken "in bad faith." The webinar will cover what information to request, how to request...

CLIMATE CHANGE, ITS IMPACT ON INSURANCE UNDERWRITING, AND THE LATEST INDUSTRY RESPONSE

August 18-18, 2020

The latest climate data available clearly indicates significant changes in weather indices, which when combined with changing exposures are materially impacting insurance underwriting and claims experiences. The industry is responding in many new, innovative ways to more effectively position themsel...

CONNECTED CAR INSURANCE USA 2020

September 02-03, 2020

Connected Car Insurance USA Join 400+ elite connected car & insurance executives. It is for connected car and auto insurance experts to share their insights and knowledge about the latest trends.

8TH ANNUAL TRAVEL INSURANCE FORUM

September 03-04, 2020

2019 has been an exciting year for the insurance industry. Global insurance premiums and investment in insurtech are expected to grow in the upcoming years. The travel insurance industry is not an exception. In fact, it is estimated it will double by the 2025. Technological development, globalizatio...