The case began after Hurricane Irma struck in 2017, damaging multiple buildings at the Golf Villas II condominium complex, managed by the Condominium Association of Golf Villas II, Inc. The association submitted a property damage claim to its insurer, American Capital Assurance Corporation. But before the claim could be fully resolved, American Capital became insolvent and entered liquidation.
For insurers, this breakdown provides more than just a snapshot of market composition; it’s a call to sharpen strategic focus. With liability lines anchoring the market, competition on pricing, underwriting discipline, and claims efficiency will remain fierce. At the same time, emerging risks – such as advanced driver-assistance systems, autonomous vehicles, and evolving fraud schemes…
Last year, TWFG Insurance, a Texas-based insurance broker, made a strong market debut. Priced at $17 per share, the IPO exceeded expectations, closing at $22.10 on its first trading day – a surge of over 30%. The company raised approximately $170 million, which is earmarked for debt repayment, potential acquisitions, and general corporate purposes. Source…
Origin, part of Beyond Risk since 2021, provides solutions for niche markets, including hospitality, hotels, and service stations. Led by President Neno Djordjevic, the company specializes in Workers’ Compensation, Property, and Transportation, working exclusively with carriers and reinsurers rated “A-” or better by A.M. Best. Source link
Michael’s Fabrics, LLC, a Baltimore-based retailer specializing in high-end fabrics, purchased a business owners’ insurance policy from Donegal Mutual Insurance Company for the period covering December 16, 2022, to December 16, 2023. The policy, for which the company paid an annual premium of $4,765, included $3,364 for property coverage. Source link
