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Fifth Circuit rules against Allied World in $10 million sprinkler system insurance dispute
The Fifth Circuit found that under Louisiana law’s one-year prescription period for products liability claims, Allied’s lawsuit was time-barred. The court ruled that RISE Residential, acting as an agent for the developer Provident Group-Flagship Properties, LLC, had constructive knowledge of the root cause well before the July 23, 2020 deadline. That knowledge, the court said,…
Chubb CEO calls for greater consistency in US trade policy
Speaking on a first-quarter earnings call, Greenberg said the federal government should align its trade, economic, and fiscal priorities. He expressed hope that future trade agreements would ease or remove tariffs, which he said have affected the country’s international standing and increased the risk of an economic downturn. Source link
American Integrity sets IPO terms as homeowners policies surge in Florida
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…
North Dakota enacts stricter penalties for insurance law violations
HB 1088, introduced by the Industry, Business and Labor Committee at the request of the Insurance Commissioner, underscores North Dakota’s enhanced commitment to consumer protection and industry accountability. Garnering significant bipartisan support, the bill passed with overwhelming majorities in both chambers: a 76-13 vote in the House and a decisive 45-1 vote in the Senate….
The perfect storm of stress – why are staff at insurance agencies burning out?
“Programs like the CPIA (Certified Professional Insurance Agent) help producers see that they’re not alone, that others are going through the same challenges. They can learn from each other, improve their skills, understand different technologies, learn how to market online in new ways, and build better client relationships.” Source link
Storms, wildfires and withdrawals: How E&S is filling the Texas insurance gap
Gordy Bunch (pictured), CEO of The Woodlands Financial Group (TWFG), told IB that a rise in catastrophic events including the 2025 California wildfires coupled with Hurricanes Milton, Helen, Beryl, multiple tornado derecho events, and increased frequency of severe convective storms, means that the Lone Star State will continue to see an expanded dependency on the…