Author: completebodyneeds

For The Mahoney Group, employee ownership is more than a financial structure. It is a central part of how the company operates, makes decisions, and builds careers. Founded in 1915 and headquartered in Chandler, Arizona, The Mahoney Group is one of the nation’s largest independent, employee-owned insurance and employee benefits brokerages. The firm provides business and personal insurance, employee benefits, risk management, and surety services to clients nationwide. The company’s employee stock ownership plan makes the ESOP collective the majority owner, with every qualified employee receiving an ownership stake. The firm accepts no outside capital, reinforcing its independence and allowing…

Innovation” has become nearly synonymous with technology. Mention innovation in the insurance industry, and the conversation quickly turns to AI, automation, agent orchestration, data platforms, or the latest insurtech darling. But tech alone is mere invention. Innovation carries the requirement that the new thing being brought to the table is successfully implemented to create actual value. It happens often: insurance organizations spend significant time, money, and energy implementing stuff that technically works but doesn’t solve the problem employees, producers, or clients are living in. A system performs exactly as designed and somehow makes the workflow more complicated. A tool ships…

A book called “Start with Why” by Simon Sinek covered this topic and gave inspiration for this article. “When an organization is filled with ‘good fits,’ those who believe what you believe, success just happens,” said Sinek. Sir Ernest Shackleton, who led three expeditions to the Antarctic, including the infamous Endurance voyage back in the early 1900s, surrounded himself with a team of noble and adventurous explorers. On Shackleton’s search for the crew for his voyages, he clearly described the type of people he needed when he placed ads in The New York Times in 1915. He even noted that…

Munich Re has reclaimed its position from Swiss Re as the largest of global reinsurers that use IFRS-17 accounting standards, while Lloyd’s has moved to the top ranking of non-IFRS-17 reinsurers, according to AM Best. Among IFRS-17 reporters, Munich Re is followed by Swiss Re, Hannover Re, and SCOR, at second, third, and fourth places, respectively, while Lloyd’s (in the non-IFRS-17 group of reinsurers) is followed by Berkshire Hathaway at number two, Reinsurance Group of America Inc. (RGA) in third place, and Everest Re coming in at number four. The most notable change among the IFRS-17 reporting reinsurers is Munich…

The hospitality market has become a bit of a “tale of two markets,” according to Dana Fansler, AIM, AINS, AVP and Program Manager, Amwins Program Underwriters. “Property insurance has softened considerably, with increased capacity, broader terms, and rate reductions for many well-performing hotels,” Fansler said. Casualty’s tale tells a much different story, she added. “Casualty remains challenged due to social inflation, nuclear verdicts and increased litigation,” she told Insurance Journal. “As a result, insurers are becoming much more focused on what they’re covering rather than simply how much premium they’re collecting.” According to Amwins’ recent State of the Market: A…

National Munich Re Group, At-Bay Inc. Munich Re Group agreed to acquire cyber insurtech At-Bay Inc. for $575 million. The cyber insurance and managed detection and response (MDR) provider primarily serving small- to medium-sized enterprises in the U.S. will be overseen by Hartford Steam Boiler (HSB), part of Munich Re’s Global Specialty Insurance business. HSB has been a partner of At-Bay since its founding in 2017. The transaction is expected to close in Q1 2027. At-Bay currently employs approximately 280 employees in the U.S. and Israel and has gross written premiums totaling $278 million. Willis Re, BMS Re To establish…

National AXIS Capital Holdings Limited appointed Jim Rhyner head of North America financial lines, programs, and Canada. Rhyner reports to Head of North America Mike McKenna. He will work out of the company’s Short Hills, New Jersey, office. Rhyner joins …

Insurance broker Willis Towers Watson (WTW) is accusing rival Lockton Companies and 18 former employees of WTW’s Northeast construction insurance team of engineering a “smash and grab” operation that began on August 19. On that day, 18 members of WTW’s Northeast construction team, including senior leadership, resigned between 8:02 am and 8:46 am, according to the WTW complaint filed in Superior Court in Boston on August 24. Also, according to the WTW complaint, within 48 hours the departed employees had taken 13 WTW clients worth more than $5 million in annual revenue with them to Lockton, along with confidential business…

An insurance agency is a business; make no doubt about it. And it needs to be treated as a true business to fully realize its potential. Many traditional agency owners, however, are not interested in running a business. They like the idea of owning a business, and, psychologically, many need to own an agency rather than work in one. Wanting to “own” a business and wanting to “run” a business have almost nothing in common, other than society and law mostly dictate that those who own a business should run it, with the partial exception of publicly traded companies. Most…

Workers’ compensation has long been one of the most operationally complex lines in the property and casualty insurance industry. “What appears to be a straightforward claims process is, in reality, a highly interconnected ecosystem involving injured workers, employers, insurers, medical providers, regulators, legal stakeholders, and a growing network of technology and service providers.” That’s according to a new white paper by Sollers Consulting, an international business and IT consultancy specializing in the insurance and financial services industries, titled “Orchestrating Workers’ Compensation in the AI Era,” in partnership with Guidewire and CLARA Analytics. The paper examines how AI-driven claims intelligence and…