Virginia tightens surplus lines insurance broker rules, offers relief for public transit insurers

Cyber capacity After a period of significant expansion, the cyber insurance market experienced a modest contraction of 2% in 2023, indicating a stabilization following previous rapid growth. This stabilization suggests that, while the market has matured, capacity has remained relatively sufficient to meet demand.​ Source link

Guru of Insurance, based in King George, Virginia, provides employee benefits planning and group benefits services to clients in the region. David Rao, president of Guru of Insurance, and his team will join Hub Mid-Atlantic. The firm will operate under the name of Guru of Insurance, a Hub International company. Source link

Legal professionals are assessing the insurance implications of trade-related disruptions. According to Pillsbury Law’s Jeff Kiburtz and Lisseth Ochoa-Chavarria, several lines of coverage may be affected, including political risk, directors and officers liability, builder’s risk, subcontractor default, and marine insurance. Although tariffs do not cause physical damage, the financial and operational fallout may lead to…

According to a news release, Exzeo, formerly known as TypTap Insurance Group, was rebranded earlier this year as part of HCI’s strategic effort to divide its operations into two distinct units with dedicated leadership and objectives. The move reflects a broader plan to allow each arm to pursue its goals more effectively, the company said…

Watko Benefit Group, founded in 2003 by Principal Greg Watkins, provides a range of employee benefits services to businesses with employee counts from 10 to over 3,000. The firm’s offerings include group insurance, voluntary benefits, and executive benefits. The six-person Watko team brings more than 50 years of combined experience in areas such as healthcare…

Forget Fortune 500s – captives are going mainstream, and some brokers are dangerously unprepared Source link