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Will updated wildfire hazard maps affect insurance rates or coverage?
The maps evaluate hazard rather than risk, according to the fire marshal, using a method similar to flood zone mapping. They estimate the likelihood of wildfire based on factors such as topography, vegetation, wind patterns, ember production and movement, climate conditions, and fire history, without predicting specific outcomes. Source link
Insurance hires at Canal Insurance, Zurich North America, Trucordia and Safety National
Mark Walls, formerly vice president of Client Engagement, has been named corporate senior vice president and chief marketing officer. Dan Berns, previously vice president of account services, will become corporate senior vice president of operations, overseeing account services and insurance compliance. Source link
Ryan Specialty agrees to acquire J.M. Wilson
Founded in 1920, J.M. Wilson operates six offices across the US. The company offers a wide range of products, including personal lines and surety, with a particular focus on transportation insurance. J.M. Wilson’s reputation in the transportation sector is supported by its historical underwriting profitability and longstanding relationships with carriers. It generated approximately $19 million…
The internet never forgets – and neither will your insurer when setting your premium
From Glassdoor to LinkedIn, your online presence is now part of the underwriting file Source link
Triple-I outlines risks and trends in annual report
“Communication is at the heart of what we do,” said Sean Kevelighan, CEO of Triple-I, in his letter accompanying the report. “Over the past year, we have elevated our impact and reach, reinforcing our position as the most trusted and quoted source in the property/casualty insurance industry.” Source link
Totalis Program launches new MGA for entertainment industry
In a separate transaction, Doxa Insurance Holdings acquired R.V. Nuccio & Associates (RVNA), an MGA that specializes in event-related coverage across entertainment, sports, leisure, recreation, and nonprofit sectors. The acquisition, completed on February 29, 2024, represents Doxa’s entry into a new market segment. Terms of the deal were not disclosed. Founded in 1990, RVNA offers…