Elsewhere, Markel launched FintechRisk+, an insurance policy tailored for fintech companies. This policy offers comprehensive coverage, including financial services and technology liability, directors and officers (D&O) liability, theft, and cyber protection, with limits up to $20 million.
In 2024, Higginbotham completed several notable acquisitions, including Eagan Insurance Agency in Metairie, La.; Fountain, Parker, Harbarger & Associates in Huntsville, Ala.; Thompson & Smith Insurance in Jackson, Tenn.; Glenn Harris & Associates in Oklahoma City; and Barnard Insurance Agency. Source link
Total assets at the end of 2024 stood at $48.16 billion, up from $46.74 billion a year earlier. Surplus rose to $4.3 billion from $3.3 billion. Penn Mutual reported paying $245.8 million in policyholder dividends in 2024, up from $188.7 million in 2023. For 2025, the company approved a $265 million dividend, which it said…
In American National Lloyds Ins. Co. v. Alexis, Civil Action No. 23-130, the insurer sought a declaratory judgment that it had no obligation to defend or indemnify Michelange Alexis and Real Estate Brothers, L.L.C., in a lawsuit filed in Berks County Court by Ernesto and Ana Rosa. The plaintiffs allege that Mr. Rosa suffered serious injuries…
The state’s unique bifurcated regulatory structure involves two primary entities: the DFS, traditionally led by the chief financial officer and responsible for managing consumer services, including the intake and initial processing of insurance complaints; and the OIR, headed by the insurance commissioner, overseeing insurer licensing, rate approvals, and market conduct examinations. Source link
