Around the P&C insurance industry: October 30, 2024
This week's update includes insurance industry news from Insurance Information Institute, FM, Jubinville Insurance Group and more.
Insurance Information Institute has launched a multi-faceted campaign that included an Interstate 20 billboard in Downtown Atlanta and digital billboards across the Metro Atlanta area on bus stops and other urban panels.
Rare Earth Insurance Partners Shanghai launched in mainland China. Led by industry veterans Wang Wei and Mark Gu, Rare Earth Shanghai will be the first independent wholesale insurance broker in mainland China, providing expertise and competitive commercial insurance products to insureds and retail brokers. Rare Earth is member of the +8 Partners insurance ecosystem.
FM announced its third resilience credit, bringing the total allocation to more than $1 billion since the program’s inception in 2022. The recent catastrophic hurricane events in the southeastern United States highlight the importance of strengthening communities and helping businesses understand their risks and protect against natural hazards.
Cover Genius celebrated their 10th anniversary. It’s an opportunity to reflect on the last decade of growth as they’ve pursued their vision to protect the global customers of the world’s largest digital platforms.
Renaissance acquired the agency network business of United Agents of Arizona, an agency group based in Mesa, Arizona. The transaction closed effective September 30. The arrangement gave UAA’s seven agency members, which collectively represent $170m in premium, the opportunity to leverage the same benefits that help Renaissance’s members improve their agency efficiency, drive revenue and increase profitability.
USI Insurance Services was named to the prestigious 2024 Fortune Best Workplaces for Women list by Great Place To Work and Fortune. USI ranked 10th and is the only insurance brokerage and consulting firm in the top 50 out of 100 recognized organizations across industries in the large company category. The Best Workplaces for Women list is based on an analysis of survey responses from nearly 600,000 women who work for Great Place To Work Certified companies that were eligible for the list.
PCF Insurance Services rebranded to Trucordia. The name Trucordia combines the words “trust” and “accord” which reflect the integrity, harmony and collaboration that are the cornerstones of its business.
Jewelers Mutual Group was named to Inc.’s 2024 Power Partner Awards list. This is the second consecutive year the insurer has received this honor. The award recognizes business-to-business providers across the country for their support of entrepreneurs and small businesses. Jewelers Mutual is among 359 companies across various industries and critical areas of business receiving recognition.
Pivix Specialty Insurance Services Inc. has launched a property and casualty contract binding program with global specialty carrier Canopius US Insurance Inc. This binding authority facility targets smaller commercial property and general liability E&S risks produced by select brokers exclusively through the wholesale distribution market.
MIJS Captive Management, LLC partnered with commercial P&C underwriters, I–RE, to enable MIJS’s high performing, mid-market clients to take on some of their own commercial P&C insurance risk in a standalone captive. MIJS Captive Management, LLC, the captive manager practice of legal services provider, Moore Ingram Johnson and Steele LLP, was established in 2008 to provide businesses with an alternative to the standard captive management model.
National Association of Professional Insurance Agents announced the winners of its 2024 Fall Awards program. These awards, given out in the spring and fall, recognize top insurance companies, their representatives, and managing general agents that help advance the goals of PIA members and independent insurance agencies.
Jubinville Insurance Group partnered with Wheeler & Taylor Insurance, the oldest independent insurance agency in Berkshire County. This partnership expanded The Jubinville Insurance Group’s opportunities for its clients, offering additional markets and new specialty insurance programs. The firm will continue its exceptional professional service with its current staff and management at its 39 Lamb Street location.
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