USI Insurance Services announced the acquisition of Alexander & Associates Insurance Services, LLC. Alexander & Associates will join USI's El Paso, Texas, office. Alexander & Associates president, J. D. Alexander said that by combining their P&C practice with USI, clients will be able to benefit from an expanded suite of products and services.
Chubb Corporation has canceled its July 23 conference call to discuss second quarter 2015 financial results, following its July 1 announcement of the proposed acquisition of The Chubb Corporation by Ace Limited. Chubb confirmed its intention to issue a press release reporting its second quarter 2015 results after the market closes on July 23.
The Massachusetts Division of Insurance has approved overall rate increases for the largest insurance companies by approximately 9%. This could increase the state's average premium of $1,150 by $100. Mapfre USA Corp. will increase rates by an average of 8.9% as of August 1, a sharp spike from last year's 2.3%. Daniel McCabe, Mapfre's vice president for New England, said that claims resulting from unprecedented events relating to the winter weather have negatively impacted the insurance industry.
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Trudy Knockless
Trudy Knockless is a reporter on ALM Media's Business of Law desk. She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless.
