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CRC Group reveals ARC acquisition
The move is the latest in a string of acquisitions by CRC Group as it continues to scale its specialty distribution platform. In December 2024, CRC snapped up SLB Insurance Group to bolster its binding authority operations in the Southeast — particularly South Florida, where SLB had a strong presence in high-volume property business. Just…
Iowa passes auto glass repair law with new limits on insurance
Under the statute, policyholders are no longer permitted to reassign post-loss benefits, including any rights, duties, or benefits under their insurance policies. While insurers cannot require the use of a particular repair facility, they may still suggest preferred vendors and operate within existing repair networks. Source link
Insurance for renewables under pressure as climate risks accelerate: GCube
“That’s not something we can accept, forcing developers to find coverage elsewhere, often in a different market. We are seeing more engagement between lenders, insurance advisors, brokers, and developers to ensure that policies are bankable from the start. This needs to happen early in the process, ideally before construction insurance is finalised,” Luciano added. Source…
Howden close to finalizing Risk Strategies deal – report
Mubadala, the Abu Dhabi-based sovereign investment fund, and Hg Capital, an existing Howden shareholder, are expected to contribute around $2 billion (£1.5bn) each in equity. The new investment would value Howden at approximately $20 billion, implying a combined valuation of around $30 billion for the group. Source link
Lloyd’s reports lower profit in 2024 with higher claims ratio from disasters
Lloyd’s 2024 results Gross written premium for the year, meanwhile, rose to £55.5 billion, up from £52.1 billion in 2023, representing a 6.5% increase. The growth was driven primarily by an 8.5% rise in volume, including 7.6% from existing syndicates and 0.9% from new entrants. Source link
Foresters lapse ruling clarifies insurer liability under California notice laws
In 2014, Siino moved and attempted to update her address with Foresters, but the request was rejected because she failed to sign the change-of-address form. Her husband, however, successfully updated his address and continued to receive policy notices. As a result, Siino stopped receiving annual premium notices after her move. Source link