Author: completebodyneeds

Offshore oil and gas producers have begun shutting in wells and evacuating personnel from rigs and platforms near the US Gulf Coast in preparation for the region’s first Atlantic hurricane of the season, arriving by Saturday. Tropical Storm Isaias is expected to grow into a strong Category 2 hurricane in the coming days, with top winds of 110 miles (177 kilometers) per hour, the US National Hurricane Center said in a 5 p.m. New York time advisory. Forecasters are increasingly confident that the storm will land east of major energy assets off the coast of Louisiana and Texas. But any…

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Hartland Mutual Insurance Company (Hartland) (Minot, ND). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process. The ratings reflect Hartland’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The rating affirmations reflect the reversal of a trend in deterioration of surplus…

Jeff Severino has joined Alliant Insurance Services as vice president within its employee benefits group on the Alliant Affinity team. Based in Kansas City, Severino will work with clients nationwide to design and develop tailored programs, drawing on a broad background spanning brokerage, underwriting, and client advisory. Severino brings 25 years of insurance industry experience, with a strong background in program design in the association and affinity market. His experience spans property and casualty, professional liability, management liability, and cyber programs. Having worked as both a broker and underwriter, Severino brings a well-rounded understanding of insurance and financial services products…

he Federal Trade Commission and the US Department of Agriculture launched an inquiry into the agricultural equipment market, including potential anticompetitive conduct. The public inquiry, announced Wednesday, seeks to address a “growing number of complaints” from farmers that they “face other barriers to acquiring agricultural equipment and the services required to keep equipment operating.” Shares in Deere & Co. extended declines to as much as 5.7%, while rivals AGCO Corp. and CNH Industrial NV tumbled 8.4% and 7.3%, respectively. Caterpillar Inc. shares fell as much as 6.4% intraday. The price of machinery has been one of many financial stressors for…

Starting this quarter, Aviva said it is entering the U.S. specialty market with Aviva Specialty, which will begin underwriting commercial property. Aviva Specialty will serve open-market brokerage, and partnering with leading program administrators. As a wholly owned surplus carrier, Aviva Specialty will write on Aviva Insurance Limited paper. Aviva said New York-based Aviva Specialty will start with commercial property, but it has plans to expand into additional lines of business including cyber, specialty & financial lines as well as specialty casualty. “What differentiates Aviva Specialty is the combination of a seasoned specialty insurance team and the agility of a purpose-built…

Sanlam Ltd.’s $1.2 billion bid to take full ownership of Santam Ltd. will give Africa’s top insurer more freedom to deploy capital across the continent, India and the Lloyd’s of London market, the latest step in an expansion that will soon include banking. Cape Town-based Sanlam, which operates in about 29 countries, has been on a years-long dealmaking spree to bolster its South African business and expand elsewhere, including combining its continental operations with those of Allianz SE and building a presence in India through investments in Shriram Group’s life- and general-insurance units. Its cash offer of about 20.7 billion…

The National Flood Insurance Program is once again set to expire in two months. Early last month, NFIP’s authority to operate was renewed when the president signed legislation passed by Congress to keep NFIP running until midnight Dec. 12. According to the Congressional Research Service (CRS), there have been 36 short-term extensions of the NFIP since the end of fiscal year 2017. The program was reauthorized in November 2025 and again in February and September 2026. Last November’s reauthorization came after a 43-day government shutdown. No new federal flood insurance policies were sold or renewed during the timeframe. The Federal…

Arthur J. Gallagher & Co. announced that its specialist underwriting subsidiary Pen Underwriting has acquired Wexford, Ireland-based Ornella Underwriting Ltd. Terms of the transaction were not disclosed. Ornella is a managing general agent (MGA) providing a diverse range of commercial and personal insurance coverages across Ireland through its network of independent broker partners, with particular expertise in private car, van, home and motor fleet. The business will become part of Pen Underwriting, and Paul Whelan will continue to lead the team from its current location under the direction of Michael Doyle, head of Pen Underwriting’s operations in Ireland. “Ornella is…

California-based Heffernan Insurance Brokers has acquired Walterry Insurance Brokers, an independent insurance agency based in Clinton, Maryland. The Walterry team joined Heffernan effective May 1, 2026. Established in 1968, Walterry Insurance Brokers specializes in media liability, professional liability, and business insurance, serving newspapers, broadcasters, film and television producers, and nonprofit trade associations. Walterry also provides commercial and personal insurance, life and health insurance, and other coverages. The acquisition expands Heffernan’s presence in the Washington, D.C., metropolitan area and strengthens its capabilities in media liability and professional liability insurance. Bill Coady, vice president of Walterry Insurance Brokers, said his agency will…

Six people have been charged for their alleged roles in “smash-and-grab” robberies targeting jewelry stores across New Jersey in 2025 and 2026, U.S. Attorney Robert Frazer announced. According to prosecutors, masked and gloved perpetrators used crow bars and/or sledgehammers to smash the glass doors and front windows of the stores. Once inside, they smashed glass display cases, stealing the jewelry inside. “Customers at these jewelry stores found themselves caught in the middle of violent robberies carried out by masked men who showed little regard for anyone who might get hurt,” said FBI Newark, Special Agent in Charge Stephanie Roddy. The…