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North Dakota tightens insurance producer regulations
Under the bill, service of process and official communications from the Insurance Commissioner may now be delivered via electronic mail. Insurance producers, particularly nonresident licensees, are expected to monitor their designated email accounts regularly. Failure to do so could result in significant legal or administrative repercussions. Source link
Argo Group appoints new chief executive officer
Industry and market outlook The leadership transition comes as Argo adapts to shifting industry dynamics, including regulatory changes, rising litigation costs, and evolving risks in the specialty insurance sector. With Donahue at the helm, the company is expected to continue refining its underwriting approach while seeking growth opportunities in niche markets. Source link
Minnesota moves to regulate peer-to-peer car sharing, impacting insurance industry
The bill, H.F. No. 2752, defines key operational terms for P2P car-sharing services, clarifying the legal distinctions between car-sharing and traditional rental services. Unlike traditional car rentals, peer-to-peer car-sharing allows private vehicle owners to rent their cars to others via online platforms. By excluding P2P car-sharing agreements from the legal definition of vehicle rentals, the…
Wholesale insurance brokers and Managing General Agents gain ground as surplus lines market surges
This momentum has elevated standout firms such as Monarch E&S, Wholesure, and Gorst & Compass, each earning 5-Star status for their performance across 10 criteria including product range, tech innovation, and ability to place niche risks. Monarch E&S president Yiana Stavrakis emphasized the firm’s commitment to tailoring solutions for mid-market clients and exploring niche programs—most notably, a custom personal umbrella…
Court lets insurance, mortgage servicing claims move forward after wind damage denial
In an order issued March 20, Judge Henry T. Wingate of the US District Court for the Southern District of Mississippi denied motions to dismiss filed by PennyMac Loan Services, LLC and Caliber Home Loans, Inc. The ruling allows plaintiffs Ashley C. Guerdan and Catherine E. Guerdan to proceed with their lawsuit, which includes claims…
HDI Global records revenue milestone Amid product expansion and new deals in the US
Tech upgrades, specialist lines, and resilience strategies shape next-phase priorities Source link