Financial lines market in state of change – Daily – Insurance News

Financial lines underwriters are likely to remain cautious in areas such as directors’ and officers’ (D&O) and construction, while cyber breaches are on the rise and the threats are evolving, Australasian Professional Indemnity Group (APIG) National President Mitchell Spurr says. “Beyond the pandemic, our industry has changed significantly in the last three years,” Mr Spurr … Read more

Applied Systems buys commercial lines rating platform

Applied Systems Inc. said Tuesday it has acquired Boston-based Tarmika, a small-business-focused commercial lines rating platform for insurance agencies.   Terms of the transaction were not disclosed. Tarmika was founded in 2018 and has about 30 employees, all of whom have joined Applied, a spokeswoman said. University Park, Illinois-based Applied said the deal will expand its … Read more

US lawmakers draw battle lines over search of Trump home

US lawmakers demanded more information on the potential threat to national security posed by Donald Trump’s hoarding of classified documents, as the fallout from the unprecedented search at the home of the former president reverberated through Washington. The comments by Democrats and Republicans on Sunday were among the first reactions from Congress to the release … Read more

BHSI Hires Kammermann for Exec & Professional Lines in Switzerland; Apollo Taps Beazley’s Foster as Head of Property; MGA Aqueous Hires Hall as Development U/W

This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance, Apollo Syndicate Management, and specialist MGA Aqueous Underwriting. A summary of these new hires follows here. BHSI Launches Exec & Professional Lines in Switzerland, Led by Kammermann Berkshire Hathaway Specialty Insurance (BHSI) announced it is introducing executive & professional (E&P) Lines coverages … Read more

Shells hit power lines at Ukraine nuclear plant, fighting in east

Breadcrumb Trail Links PMN Business Author of the article: Article content KYIV — Russia and Ukraine accused each other on Friday of shelling Europe’s biggest nuclear power plant as fighting raged again in the crucial border region of the Donbas and three more ships left ports carrying previously blockaded Ukrainian grain. Shells hit a high-voltage … Read more

Rajasthan govt lines up big plans for handicrafts, handloom industries

The Rajasthan government has decided to promote the local handicrafts and handloom industry in a big way. Various steps are being planned by the state government to give a boost to the sale of handloom, handicrafts and khadi products. Rajasthan is among the richest states in the country in terms of art and craft. The … Read more

Hartford Q2 earnings decrease the result of personal lines

Hartford Financial Services Group Inc. on Thursday posted second-quarter net income of $437 million, down 51% from the same time period last year and mostly due to decreases in personal lines. Its core earnings totaled $714 million, down 15% from last year’s second quarter. Yet, according to the results, commercial lines core earnings for the … Read more

Most commercial lines see rate increases accelerate in Q2 renewals

Most major lines of commercial insurance experienced quarter-over-quarter increases in average premium renewal rate change, with umbrella a notable exception, Ivans Insurance Services reported Thursday. In commercial property lines, the average premium renewal rate change increased 6.4% quarter over quarter, up from 6.16% in the first quarter, Tampa, Florida-based Ivans said. The quarterly premium renewal … Read more

Most commercial lines see positive Q2 premium renewal rate changes

Most major lines of commercial insurance experienced quarter-over-quarter increases in average premium renewal rate change, with umbrella a notable exception, Ivans Insurance Services reported Thursday. In commercial property lines, the average premium renewal rate change increased 6.4% quarter over quarter, up from 6.16% in the first quarter, Tampa, Florida-based Ivans said. The quarterly premium renewal … Read more

Surplus lines premiums jump 32% in H1

Surplus lines premiums increased 32.4%, to $31.4 billion in the first half, according to the U.S. Surplus Lines Service and Stamping Offices’ 2022 midyear report, which was issued Tuesday. Stamping offices typically report higher premiums in the third and fourth quarters than in the first and second, “and most predict dynamic economic factors will drive … Read more