Patriot Growth Insurance Services announced it has acquired a new strategic partner, Morse Insurance Agency, a property/casualty insurance agency based in North Easton, Mass. Morse Insurance Agency operates multiple locations across the state, including offices in North Easton, Norton, Bridgewater, and Marion. Morse Insurance Agency will continue to operate under its existing leadership while gaining access to Patriot’s expanded resources, strategic support, and growth capabilities. Founded in 2019, Patriot has more than 2,200 employees operating in over 100 locations across 29 states, Patriot is backed by GI Partners and Summit Partners. Topics Massachusetts Was this article valuable? Yes No Here…
Author: Awais
Before the Atlantic hurricane season begins each year, forecasters release activity predictions that can have some influence on reinsurance pricing. However, a recent commentary from global alternative and active investment manager Man Group challenges the accuracy of these forecasts, questioning both their reliability and the benchmarks used to measure success.Recognising that catastrophe bond portfolio managers cannot predict the future, Man Group argues that rather than seeking opportunities based on seasonal forecasts, the industry should embrace unpredictability and focus on robust portfolio construction. In the firm’s latest commentary, written by Andre Rzym, Partner and Portfolio Manage at Man AHL, and Tarek…
Los Angeles County buses will soon be large, rolling warnings against workers’ compensation fraud. L.A. County District Attorney Nathan J. Hochman announced the launch of a countywide LA Metro bus advertisement campaign in which buses will bear warnings that lying or misrepresenting facts to obtain unentitled workers’ comp benefits is a felony. Related: Judge Upholds New York Workers’ Comp Board Ban Against Spinal Surgeon “If you choose to falsify a claim, exaggerate an injury, or create false medical documentation, you are committing a felony, and my office will prosecute you,” Hochman stated. “In fact, the very buses that soon will…
Construction is finished on a major Massachusetts offshore wind farm, the first project to reach this stage during President Donald Trump’s time in office. Offshore construction was completed Friday night on Vineyard Wind with the installation of the final blades, Craig Gilvarg, a spokesperson for the project, said Saturday. Trump, who often talks about his hatred of wind power, has said his goal is to not let any “windmills” be built. Vineyard Wind was one of five major East Coast offshore wind projects the Trump administration halted construction on days before Christmas, citing national security concerns. Developers and states sued,…
US President Donald Trump is desperate to reopen the Strait of Hormuz to ease a growing global energy crisis. He won’t achieve that easily without a ceasefire in the war on Iran. Iran’s sporadic attacks on vessels and the threat of mines have cut traffic in the vital waterway to a trickle, effectively putting Tehran, not outside naval forces, in charge of the flow. The strait carries about a fifth of the world’s oil, and the disruption has led to production cuts, fuel shortages and price increases from Asia to Europe. (Related: US $20B Reinsurance Plan Unlikely to Restart Gulf…
The case stems from a 2015 accident at a Kinro facility in Waxahachie, Texas. Quinton Williams was moving large plates of glass with a cart when the load shifted unexpectedly because the cart was not properly equipped for the job. The glass fell on Williams, leaving him with what he described as severe, permanent, and disabling injuries. He sued Lippert Components and its subsidiaries Kinro, Inc., Kinro Texas, Inc., and LCI Industries.
Germany plans to encourage investments in data centers to at least double domestic capacity and to boost artificial intelligence data processing at least fourfold by 2030, the government said on Tuesday. In a bid to catch up with the dominant players the United States and China, digital minister Karsten Wildberger proposed a range of measures, including dedicating land for development, that ministers are due to approve on Wednesday. Under the scheme, municipal business taxes will go to the town or city that attracts the new center, no longer to where the company is headquartered Regulatory reviews are to speed up…
Onex Corp. made a big bet on an insurance startup, and it didn’t take long for the losses to mount. First there was the pandemic, then a deep freeze in Texas. In 2022, Hurricane Ian ripped across the Caribbean and Florida en route to becoming one of the costliest storms on record. The investment, Convex Group, was “seeing nothing but essentially money going out the door,” said Paul Brand, the insurer’s chief executive officer. But Brand, who has been underwriting risk for more than three decades, knew that disasters and bad luck tend to run in cycles. After its bumpy…
They include a new chief product and technology officer and a new head of insurance
US farmers, long one of Donald Trump’s most loyal constituencies, are increasingly worried by the Iran war as soaring fertilizer and fuel prices hammer them just as they are about to start planting crops for the year. “Is the war going to be short term or is it going to be drug out?” asked Pam Johnson, who has a family farm with her two sons, growing corn and soybeans in northern Iowa. “The longer it goes, the harder it’s going to be on just everybody.” Farmers are anxious about how they will pay for or even obtain fertilizer for their…
Gulf banks could face domestic deposit outflows of $307 billion if the Middle East conflict deepens, S&P Global Ratings said. An S&P report said it had seen no evidence of major outflows of foreign or local funding from banks in the Gulf, which have proved resilient since war broke out in the region last month. But a prolonged conflict could trigger a flight to quality between banks within the same systems, as well as broader external and local funding exits, the ratings agency added. Read more: Asia’s Rich Having Second Thoughts on Dubai as War Rages S&P’s base case scenario…
The U.S. Securities and Exchange Commission’s enforcement director has resigned just over six months after she started on the job, the SEC said on Monday, a sudden departure for an agency that has changed dramatically under Republican leaders. Former military judge Margaret Ryan has led the SEC’s enforcement unit since joining the agency in early September. She has resigned from the agency effective immediately, the SEC said in a statement, confirming Reuters’ earlier reporting. Ryan, a former Marine who had clerked for well-known conservative judges, had been seen as an unusual pick to lead the 1,400-person enforcement given she had…
Pool Re, the UK government backed mutual terrorism reinsurance firm, is back in the catastrophe bond market to sponsor its fourth terrorism catastrophe bond, with a Baltic PCC Limited (Series 2026-1) issuance being offered to investors, we understand.When Pool Re announced its latest retrocession program renewal earlier this month, we indicated that sources were saying at the time that a new Baltic terror cat bond may emerge within a matter of weeks. Previously, Pool Re had renewed its Baltic cat bonds as each of the previous vintages matured, so only keeping one deal in-force at a time within its retrocessional…
A lower court had previously ruled in favor of the policyholders, determining that the pollution exclusion did not apply because the emissions were authorized by the Illinois Environmental Protection Agency through issued permits. Based on that interpretation, the United States District Court for the Northern District of Illinois ordered National Union Fire Insurance Co. of Pittsburgh, Pa. to pay substantial defense costs – approximately $16 million to Griffith Foods and $75.5 million to its subsidiary, Sterigenics.