Old Republic International Corporation is forming a new operating company, Old Republic Property Inc., to underwrite specialized property insurance products through a national retail broker distribution network, the company announced on Monday. The company will be led by Patrick Hagerty as president. Hagerty has more than 20 years of property underwriting and leadership experience. Old Republic Property is the seventh new specialty operating company that Old Republic has launched since 2021. Chicago, Illinois-based Old Republic is a specialty insurer that operates a group of property/casualty and title insurance companies. Topics Carriers Property Was this article valuable? Yes No Here are…
Author: Awais
AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Federated Mutual Insurance Company and its pooled subsidiaries, Federated Service Insurance Company, Federated Reserve Insurance Company, and Granite Re, Inc. These companies are collectively referred to as Federated Mutual Group (Federated) and are domiciled in Owatonna, Minnesota. The outlook of the Long-Term ICRs has been revised to stable from positive, while the outlook of the FSR is stable. Additionally, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICR…
The U.S. Environmental Protection Agency and Department of Health and Human Services announced that they will monitor the impact of microplastics and pharmaceuticals on drinking water, the first step toward assessing their health risks and shaping new policies. The joint announcement April 2 was hailed by EPA Administrator Lee Zeldin and Health Secretary Robert F. Kennedy, Jr. as a win for President Donald Trump’s “Make America Healthy Again” agenda, whose priorities have included reducing the number of recommended childhood vaccines and promoting whole foods in new dietary guidelines. The EPA will now include microplastics and pharmaceuticals on the sixth Contaminant…
Old Republic International Corporation said it is forming a new operating company, Old Republic Property, Inc., to underwrite specialized property insurance products through a national retail broker distribution network. The company will be led by Patrick Hagerty as president. Hagerty brings over 20 years of extensive property underwriting and leadership experience, with a track record of building and leading underwriting teams. Old Republic CEO Craig R. Smiddy said property insurance “aligns well with Old Republic’s long-standing strategy and focus on diversified growth in Specialty Insurance.” Old Republic Property is the seventh new specialty operating company that Old Republic has launched…
OAKLAND, Calif. — Rosa María Carranza leaned forward to hold a 3-year-old’s back as the girl climbed a rock in the forested hills of northeast Oakland. Dressed in hiking gear and beaded necklaces, Carranza, 67, maneuvered between trees and children on a sunny morning in December. “Hold on to that branch,” she said in Spanish. “You can do it, my love!” Carranza, a child development professional who grew up swinging through trees and swimming in rivers in El Salvador, said she feels at home in the forest at the outdoor preschool she co-founded. She has worked with children and teens…
Healthcare today relies heavily on technology in the patient journey. Patient onboarding, visits staged through a digital front door, electronic records sharing, and online claims submission are distinct elements of the patient experience that are all made simpler and more convenient by providers’ investments in technology. They also demonstrate how the healthcare journey can fall apart when data is faulty or incomplete. Patient data is at the core of healthcare processes; maintaining its quality is strategic to overall care and far more than a compliance task. Ignoring the obvious is costly When claims are denied, hospital revenue takes a hit.…
JA Kyosai, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives often better known as Zenkyoren, has established a reinsurance company in Guernsey with a strategic goal to underwrite international risks to diversify its exposure, with investments into catastrophe bonds also in scope for the structure.Zenkyoren Re Ltd. was established in Guernsey at the beginning of this year, has been licensed as a commercial reinsurer to underwrite internationally and commenced its business operations on April 1st, President Yoshihiko Murayama announced today. Zenkyoren Re is 100% owned by JA Kyosai, but its reinsurance operations are being outsourced to Aon Insurance Managers.…
Some investors think private credit is a tempest in a teapot. Others think it is about to spark a new financial crisis. Depending on the time horizon, both sets of views about the esoteric sector may be right. Signs of trouble in the obscure world of private lending, which had soared in popularity with companies looking for quick bespoke debt and investors seeking high returns, have been brewing since the middle of last year. The pace at which investors are demanding money back from some of the private credit funds, known as business development companies (BDCs), has accelerated this year…
In a new lawsuit, one of the first three women to officiate an NFL game describes her three years at the pinnacle of her profession as a descent into the grip of a sexist institution unable to treat a woman as an equal. Robin DeLorenzo cited gender-based scrutiny, humiliation and open hostility among the indignities she suffered from 2022 to 2025 as a league official. The lawsuit in Manhattan federal court, filed Friday, sought reinstatement along with unspecified damages. Brian McCarthy, an NFL spokesperson, said in an email that DeLorenzo was terminated after three seasons of documented underperformance. “The allegations…
The owner of Patriot Public Adjusting has been charged with misappropriating over $82,000 in insurance claim funds intended for his clients, including elderly homeowners in Pennsylvania and New Jersey. Pennsylvania’s Bucks County District Attorney Joe Khan said his office filed multiple felony charges against Michael Joseph Breitenbach, who was operating his business out of a residence in Bensalem Township. He faces numerous charges including felony counts of insurance fraud, theft by deception, forgery and deceptive business practices. Authorities allege that between September 2023 and September 2024, Breitenbach acted as a public adjuster on behalf of residents in Pennsylvania and New…
Of all the things Donald Trump has done to disrupt global commerce, from levying punitive tariffs to tearing up trade deals, few would be as consequential as withdrawing and leaving the rest of the world to secure the Persian Gulf. The move, which the US president has repeatedly threatened as his war with Iran drags on, would represent a break with decades of US policy keeping open the sea lanes that carry four-fifths of the $35 trillion global goods trade. Even the threat of reducing security for the Strait of Hormuz risks shaking confidence in a pillar of the world…
Delos Insurance Solutions says it has increased access to its insurance by more than 1 million homes in wildfire-stressed locations across California in the past 12 months with new capacity. The property insurance MGA said it is also able to go into more areas due to its sophisticated wildfire model. The company’s increased confidence in its wildfire risk model led to 270,000 homes in the five counties surrounding the Eaton and Palisades fire footprints in Southern California becoming eligible. Model enhancements were aided by the injection of refined high resolution wind data as well as other datasets related to suppression…
Three weeks after Sophia Bassan’s mastectomy, she felt a stabbing pain beneath her right armpit. In the following months, painful shocks radiated through her chest and back. Her body became so sensitive that at times she couldn’t wear a shirt or lift a fork to her mouth. Bassan slept sitting up because it hurt to lie down, and she would flinch at the slightest touch. “I remember thinking I was losing my mind,” said Bassan, 43. “One time I was in so much pain that I had to take off my top, and then my cat’s tail brushed against my…
Federal regulators approved an operating license extension for California’s last-standing nuclear power plant, which under state law can run until at least 2030, the governor of the most populous U.S. state said last week. PG&E’s Diablo Canyon Nuclear Power Plant on California’s central coast was scheduled to shut in 2025, but the plant that contributes about 10% of the state’s total electricity has remained online in the face of rising demand and swelling power bills. “The renewed federal licenses for the plant’s two units mean Diablo Canyon will continue to provide critical 24/7 carbon-free electricity as California navigates growing electricity…