Citizens shrinks as more policies move to private market in Florida

[ad_1] In a closely watched insurance dispute, a New York appellate court ruled on April 29, 2025, that Colony Insurance Company must defend and cover Sandy Clarkson LLC, a property owner, in a personal injury lawsuit stemming from a construction site accident – even though Sandy Clarkson had no direct contract with the subcontractor insured…

[ad_1] Transatlantic Underwriters (TAU), a Marietta, Georgia-based wholesale insurance brokerage specializing in transportation risks, has launched a new Property and Casualty (P&C) division. The expansion adds six new lines of business: Commercial General and Excess Liability, Commercial Property, Inland Marine, Builders Risk, and Garage. [ad_2] Source link

[ad_1] Successor has been with the company since 2008 [ad_2] Source link

[ad_1] Consumers who unknowingly purchase the fraudulent policies not only lose their money, but may face serious consequences for driving without valid insurance, officials said. That includes vehicle registration revocation or impoundment by law enforcement. [ad_2] Source link

[ad_1] Vince Gaffigan, executive vice president and director of risk consulting at Lockton, addressed the increased complexity faced by risk managers today. According to Gaffigan, interconnected global systems in finance, technology, supply chains, and energy, combined with geopolitical shifts and market volatility, have significantly increased the speed at which risks develop. [ad_2] Source link

[ad_1] The upstream market, which has seen a 5% growth in capacity, is benefiting from a quiet year for losses. This growth continues to fuel soft market conditions. Insurers are under pressure to expand their market share, which has led to reductions in rates and an increasing willingness among underwriters to take on leadership roles,…