Markets
Cyber Insurance Firm Coalition Secures $175M to Fuel Global Expansion, New Products
Coalition, a cyber insurance managing general agency and security company, said it has raised $175 million to accelerate its growth and global expansion. The firm said it will use the funds to expand ...
Assessing Delegated Underwriting Authorities, MGAs: AM Best Explains
Over the last decade, as insurers and reinsurers have sought profitable opportunities for growth, they increasingly have handed the underwriting pen to managing general agents, managing general ...
As MGA Growth Explodes, AM Best Unveils New Assessments Coming Soon
With the volume of premium generated by managing general agents and other delegated underwriting authority enterprises (DUAEs) rocketing skyward in recent years, AM Best had decided it's time to ...
Hippo and AXIS Insurance Form Separate Partnership Deals
Hippo said it has formed two new partnerships that will deploy automation to boost speed and processing of its back-end customer claims services. AXIS Insurance said it formed a strategic partnership ...
S&P Grants Zurich Insurance a Ratings Upgrade Over Improved Performance
Zurich Insurance's improved financial performance has earned it a ratings upgrade from Standard & Poor's. The Swiss insurer and its core operating entities now have an S&P rating of 'AA', up ...
Texas Utility Sues Power Grid Operator, Alleging ‘Excessive’ Cold Snap Charges
The largest city-owned utility in Texas on Friday sued the state's grid operator alleging it levied "excessive" power prices during a February deep freeze, and seeking to bar the grid from issuing a ...
Some States Continue Mulling Mandatory Business Interruption Cover
Since about a year ago when their business constituents began complaining that their insurance companies were telling them their policies do not cover their losses from the pandemic, lawmakers in a ...
TransRe CEO Sapnar Will Depart; Brandt to Succeed Him
TransRe President and CEO Mike Sapnar is leaving the company to pursue another opportunity. He'll stay on the job through April 30 to help with the transition. Ken Brandt, currently TransRe's ...