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Novatae Acquires Arkansas’ American Management Corporation
IJ – September 6, 2023 – Novatae Risk Group announced that it acquired the assets of American Management Corporation, (“AMC”) of Conway, Arkansas on September 1, 2023. Terms of the transaction were not disclosed.
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CIBA Welcomes New Head of Product Development: Andrew Aldorisio
GLENDALE, CA – (Aug. 10, 2023) As we enter our 30th year as a company, we are excited to announce the appointment of Andrew Aldorisio as Head of Product Development as we enter the next chapter of our growth and development.
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Beazley Introduces New Tornado Crisis Insurance Product
IBA – September 1, 2023 – Beazley has joined forces with Sola Technologies and Spinnaker Insurance Company to introduce the industry’s first admitted parametric tornado disaster benefit insurance designed for homeowners.
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Zurich Names Head of Programs Business
BI – August 31, 2023 – Zurich North America on Thursday appointed Eric Cittadino as head of programs.
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AM Best Revises Outlook to Positive for Texas’ Skyward Specialty
IJ – August 28, 2023 – AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- (Excellent) of Great Midwest Insurance Company, Houston Specialty Insurance Company, Oklahoma Specialty Insurance Company and Imperium Insurance Company (IIC).
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Signers National Acquires Two Nonprofit Insurers
NEW YORK, Aug. 24, 2023 — Signers National, a group of premier insurance companies dedicated to servicing key client segments across the United States, today announced the acquisition of two leading nonprofit insurance companies, Eclipse Risk Insurance Services and Whittaker Agency.
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Rokstone CRU, Builders Partner on Follow-Form Excess Program
IBA – August 24, 2023 – Rokstone Construction Risk Underwriters (Rokstone CRU), a subsidiary of Aventum Group’s international (re)insurance managing general agent Rokstone, has recently formed a strategic partnership with Builders’ specialty program division.
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Wright Flood to Launch Residential, Private Flood Insurance Option in 5 States
IJ – August 22, 2023 – Wright National Flood Insurance Services introduced FocusFlood, the company’s newest product and an extension of its popular ResiFlood program, into Florida, Texas, New Jersey, South Carolina and Louisiana.
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Greene & Associates Launches New Partnership with Old Republic Specialty Underwriters
EAST AURORA, NY, August 2023 — Greene & Associates, a specialized program manager and wholesale broker, is excited to announce they have partnered with Old Republic Specialty Insurance Underwriters to launch a, nationwide, unsupported Commercial Excess Liability program.
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Cracks Starting to Show? Fallout From Collateral Issues with Vesttoo
August 9, 2023 – ALIRT has been closely following the fall-out from the news last month that certain Letters of Credit (LOC) backing reinsurance recoverables for programs sourced on the Vesttoo platform are fraudulent.
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DUAL Bolsters Fine Art Practice
IBA – August 9, 2023 – DUAL North America has announced the appointment of Peter Gosselink as executive vice president of its fine art program.
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Resilience Cyber Insurance Solutions Raises $100 Million
BI – August 7, 2023 – Resilience Cyber Insurance Solutions LLC said Monday it had secured $100 million in series D funding led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, Intact Insurance.
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