Tag: insurance industry news

16 More insurance companies file lawsuits against Pacific Power

Marc
Insurance companies - Lawsuit filed

The joint lawsuit against the utility and its parent company PacifiCorp is connected to the Archie Creek Fire. An additional 16 insurance companies have filed a joint lawsuit against PacifiCorp as well as Pacific Power, its subsidiary, for reasons relating to damages caused by the Archie Creek Fire. The lawsuit was filed by the insurers on January 5 in the Douglas County Circuit Court. The insurance companies are pursuing a combined $14.2 million from the electric utility and its subsidiary. The 16 insurers are based in eight different states, including…

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Mercury General Corporation names Victor Joseph Executive Vice President and COO

G. Turner
Mercury General Corporation - Job Promotion

The company has called this a positive step forward “for a strong and vibrant future”. Mercury General Corporation (NYSE stock symbol MCY) recently announced that it has named Victor Joseph as its Executive Vice President and Chief Operating Officer (EVP & COO). The position was newly created, and Joseph will become the first to hold the title. Joseph will take this new position at Mercury General Corporation as of the start of next year. He was chosen to start with this newly created title on January 1, 2022, as an…

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Progressive plans to create more up to 6,400 insurance jobs

Logan B.
Insurance jobs - hiring sign

The insurer plans to hire thousands of new employees before the year comes to a close. Progressive has announced new insurance jobs with its intention to hire as many as 6,400 new employees during the second half of 2021 in order to support the insurer’s growth and plans to continue doing so. During 2020, Progressive’s total revenues broke the $42 billion mark as it gained market share. The market share held by Progressive continued rising throughout last year as it built up its customer base. Now, it plans to add…

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Network of Employers for Traffic Safety adds State Farm Insurance to board

G. Turner
Network of Employers for Traffic Safety - office - conference room

The NETS has announced that the insurer has joined the Board of Directors. The Network of Employers for Traffic Safety (NETS) has announced that State Farm Insurance has now been added to its Board of Directors. Two representatives from the insurer have been added to the NETS Board of Directors. “The Board of Directors welcomes State Farm Board representatives Scott Winn, Small Business Insurance Loss Control Administrator, and Liz Pulver, Transportation Safety Research Senior Program Manager, to NETS,” read a statement from Network of Employers for Traffic Safety Board Chair…

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

Marc
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

Marc
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

PR Article
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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