Around the P&C insurance industry: September 7, 2022
News from PCF Insurance Services, RT Specialty, Universal Casualty and more.
PCF Insurance acquired Wilber-Price Insurance Group, a full-service independent insurance agency offering commercial and personal lines solutions, as well as specialty products, for home, auto, crop, life, business and more in the southern Ohio region.
SUITELIFE Underwriting Managers announced the addition of the Franchise Hotel Program to their portfolio. SUITELIFE is part of the Ryan Specialty family within the underwriting managers specialty of the firm, Ryan Specialty Underwriting Managers. In addition, SUITELIFE has an alternative market providing coverage for distinguished inns, B&Bs, non-franchised independent hotels, hunting and fishing lodges and coastal locations.
RT Specialty announced a new and exclusive excess cyber facility. This new facility brings additional capacity and creative insurance solutions to a cyber market that remains in a state of flux. The new facility offers up to $15 million in capacity per account, is underwritten by EmergIn Risk, and is supported by a consortium of high-quality carrier groups including Aspen, CoAction and Skyward Specialty Insurance.
925 Partners Insurance Agency acquired Waterbrook Agency, Inc, of Clermont, FL on August 31, 2022. Waterbrook Insurance, Inc. has been providing property and casualty insurance to individuals and businesses in the Central Florida area for the last 10 years.
Universal Casualty partnered with NIADA; the National Independent Automobile Dealers Association. NIADA was founded in 1946 and serves as the representative body for over 38,000 used vehicle dealers in the United States. By partnering with Universal Causality, an insurance company that specializes in serving independent auto dealers, NIADA members are now eligible for exclusive market premiums.
World Insurance Associates LLC acquired Tarpey Insurance Group of Wakefield, Massachusetts, and Rush-Kent Insurance Agency Inc. of Arlington, Massachusetts on August 1, 2022. Terms of the transaction were not disclosed.
Paragon Insurance Holdings, LLC acquired Reel Media, LLC, a leading provider of insurance solutions for the broader entertainment and sports industries.
Coalition commenced trading in the U.K. effective September 1, 2022. Backed by a multi-year capacity agreement with Allianz Global Corporate & Specialty, Coalition will distribute its products via brokers across the UK. Targeting the UK’s SME sector, Coalition’s risk appetite encompasses firms up to £1 billion turnover.
Stonetrust Insurance Company will begin writing workers’ compensation coverage in Iowa and Georgia effective October 1, 2022. This announcement follows the Baton Rouge based company’s recent Financial Strength Rating upgrade to A- Excellent by AM Best.
Alera Group acquired Greenhill Insurance Services, a managing general underwriter and program manager with binding authority to underwrite professional liability programs throughout the country for various insurance companies.
HUB International Limited acquired the assets of James L. Miniter Insurance Agency, Inc. Terms of the transaction were not disclosed.
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