The Ardonagh Group acquires BGC insurance brokerage business for $500 million

Insurance brokerage - business aquisition

The acquisition transaction is expected to close before the end of this year. The Ardonagh Group Limited has announced that it has acquired the insurance brokerage business from BGC Partners, Inc for $500 million of cash consideration. BGC is a leading global financial technology and brokerage business. “The agreement to sell our Insurance Brokerage business for $500 million reflects the significant value we have created since entering this market in 2017. Like our previous sales of eSpeed and Trayport, as well as our IPO and tax-free spin-off of Newmark, this…

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Dairyland Insurance to plant 72,000 trees in Arbor Day Foundation partnership

Dairyland Insurance - planting tree

The auto and motorcycle insurer’s goal is to help with forest restoration across the country. Dairyland Insurance has partnered with the Arbor Day Foundation in a forest restoration project that will plant 72,000 trees in the United States. The insurer is hoping the initiative will encourage its customers to choose paperless billing. We recently reported on the insurer’s California insurance news as a provider of motorcycle insurance in the state. Now, it is hoping to encourage its customers to choose paperless billing options by drawing attention to the issue of…

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Innovative Automotive Claims and Restoration Solution Provider Expands Portfolio

Nexterra Solutions Automotive Claims News

NASHVILLE, TN. (February 10, 2021) – Nexterra Solutions Group, LLC, the international automotive restoration, claims management and service contract provider that operates Dent Concepts and Allied Overspray service brands, continues to expand its reach and value offerings into the automotive dealership and OEM communities. Nexterra provides fully customizable concierge auto physical damage assessment and restoration platforms, plus vehicle service products that improve loss cost efficiencies and vehicle owner loyalty. By providing partners with improved methods to assess, repair and complete hail and overspray claims more efficiently, The Nexterra Solutions Group…

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USAA and State Farm blockchain platforms go live

USAA and State Farm blockchain platforms go live - business - digital

The insurers have launched this new form of processing all subrogation claims. The USAA and State Farm blockchain platforms have gone live for processing all subrogation claims. They are hopeful that other US carriers will also choose this strategy throughout this year. Many large insurance companies have been investigating blockchain platform strategies. The State Farm blockchain interest first started in 2018 in investigating its potential for subrogation. The partnership between that insurer and USAA started in 2019. The two companies represent a combined 12 percent of the $620 billion American…

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First Allstate Chief Sustainability Officer appointed

Allstate Logo on Sign - Allstate Chief Sustainability Officer

The insurer announced that Susan L. Lees would be the first person to take that position. The first ever Allstate Chief Sustainability Officer was recently announced, as Susan L. Lees took the position. Lee’s previous role as Chief Legal Officer and Secretary of the corporation will be taken over by Rhonda Ferguson, Executive Vice President and General Counsel. Lees is taking the position immediately, as is Ferguson who replaced her in her former role. “This realignment of responsibilities is consistent with Susie’s decision announced in August to focus on environmental,…

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State farm fire prevention project tests electrical wiring sensors for problems

State Farm fire prevention - wires in walls

The insurance company is sending homeowners sensors in a pilot testing for electrical defects. A new State Farm fire prevention program pilot has launched. It will use sensors to detect electrical wiring hazards in 40,000 homes in California, Texas, and Arizona. The goal is to provide consumers with a way to prevent electrical wiring fires and measure savings. The State Farm fire prevention pilot will send the sensors to the homeowners to measure customer acceptance and potential savings if the program were to be broadened. The insurer’s vice president and…

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Allstate points to Better Arguments project to avoid toxic conversations

Better Arguments Project - woman, man facing away from one another

The insurer issued a news release stating that toxicity in communications are “threatening our future.” Allstate Insurance recently issued a news release praising the strategies of The Better Arguments Project. This strategy is meant to help Americans to better navigate the current environment which consists of the “deepest political and cultural divides in our nation’s history.” The insurer acknowledged that the divisions are only worsened by the COVID-19 pandemic crisis. According to Allstate, “our collective future depends on Americans’ ability to come together.” However, at the same time, it didn’t…

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