Archive for: April 2018

Recently, the President of the APESEG (Peruvian Association of Insurance Companies), Eduardo Moron, expressed his concern regarding the harmful impact that Emergency Decree N ° 003-2017 would have on the insurance market for bond letters and surety bonds that guaranteed the obligations of various members of the so-called construction...

There are very few insurance carriers willing to “roll up their sleeves” and “dive head first” into a complex surety deal. The surety marketplace can have fierce competition and small profit margins. Insurer Chubb has an integrated global surety division under the leadership of Stephen Haney. Chubb’s surety team...

Some insurers have left the marijuana insurance market after a warning memo sent by Attorney General Jeff Sessions earlier this year, but others are staying and even planning to increase their involvement in the sector, say observers. Insurers who have left the business include Glen Allen, Virginia-based Markel Corp....

A bill that would allow companies to road-test self-driving vehicles in New Hampshire may be facing some speed bumps. House Bill 314 cleared the House on a voice vote earlier this year. Its prime sponsor, Rep. Steven Smith, R-Charlestown, said the measure is the result of three years of...

The three leading global credit insurers Atradius, Coface and Euler Hermes currently benefit from a supportive economic environment that is limiting corporate insolvencies, according to Moody’s https://www.intelligentinsurer.com/news/credit-insurers-buoyed-by-economic-environment-15083

IAT Insurance Group has agreed to acquire IFIC Surety Group which includes International Fidelity Insurance Company and its subsidiary Allegheny Casualty Company. Through the deal IAT will enter the surety market. IFIC Surety Group is said to be the eighth largest surety writer in the US with over $150...

A South Abington Twp. insurance agent pleaded guilty to collecting insurance premiums from construction companies and never buying the insurance on their behalf. Timothy A. Hewitt, 41, billed six clients more than $200,000 for performance bond insurance without buying the insurance from Liberty Mutual, Lackawanna County Assistant District Attorney...