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Steven Quance, Drake Plastic’s president, established Drake Insurance in North Carolina to address coverage gaps his business faced. Despite nine IRS audits of Drake-related entities and Quance’s family – all concluding without finding irregularities – the agency disallowed the company’s 2020 captive insurance premium deduction, claiming the arrangement lacked “economic substance.”
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[ad_1] “As the US E&S market continues to grow, we are advancing our wholesale strategy by investing in talent, enhancing our service offerings, and focusing on key industries,” said Stephen Buonpane, president of Everest Evolution. “With this strengthened leadership team, we are well-positioned to expand our market presence and provide our US wholesale partners with…
[ad_1] According to the complaint, the cargo was loaded in good order and condition at Nhava Sheva and Hyderabad, India, and was intended for delivery in Savannah, Georgia, and Memphis, Tennessee. On or about August 28, 2024, the complaint states, numerous containers and their cargoes fell overboard from the M/V MSC ANTONIA and were lost…
[ad_1] Hippo’s response to wildfire threats Hippo said that it has been expanding partnerships with housing developers to provide homeowners’ insurance, particularly in states like California, where McCathron said it serves as the company’s primary source of new business. The insurer currently has access to about 120,000 new dwellings nationwide, with continued quarterly growth. [ad_2]…
[ad_1] American National has also been restructuring its property and casualty operations. In 2023, the company announced its exit from the homeowners insurance market in nine states, including California, Louisiana, Arkansas, Colorado, Minnesota, Oklahoma, South Carolina, South Dakota, and Washington. The company attributed the decision to profitability challenges in those markets. [ad_2] Source link
[ad_1] The Supreme Court ruled, however, that Farmers met its legal obligations by using notice language approved by the state’s Department of Consumer and Business Services (DCBS). The court said insurers that adopt agency-approved wording are not liable for omitting portions of the statute, affirming that the legislature intended for such approval to serve as…
[ad_1] Industry vets bring expertise in terrorism underwriting and nationwide construction strategy [ad_2] Source link
