In this week's news will talk about DOXA to be acquired by Goldman Sachs, Alliant continues nationwide hiring spree and much more...
Alliant continues nationwide hiring spree
Alliant Insurance Services has continued its nationwide hiring spree with the appointment of Ann DiPasquale as senior vice president within its employee benefits group.
DiPasquale has experience in self-funded medical and pharmacy plans, stop-loss insurance, and other health and welfare plans. She will be based in Kansas City, Mo., strengthening Alliant’s presence in the region.
DiPasquale has experience in self-funded medical and pharmacy plans, stop-loss insurance, and other health and welfare plans. She will be based in Kansas City, Mo., strengthening Alliant’s presence in the region.
California democrats voice concern over insurance reforms
They say proposed changes threaten consumer protections under Prop 103
Thirty-two members of California’s Democratic Congressional Delegation have written a letter to insurance commissioner Ricardo Lara, expressing concern that his proposed reforms could weaken consumer protections and the regulatory authority granted by Proposition 103.
Led by Representatives John Garamendi and Zoe Lofgren, the group questioned the potential implications of Lara’s Sustainable Insurance Strategy, which includes a deal that would require insurers to return to certain fire risk zones in exchange for more leeway when it comes to setting rates.
Thirty-two members of California’s Democratic Congressional Delegation have written a letter to insurance commissioner Ricardo Lara, expressing concern that his proposed reforms could weaken consumer protections and the regulatory authority granted by Proposition 103.
Led by Representatives John Garamendi and Zoe Lofgren, the group questioned the potential implications of Lara’s Sustainable Insurance Strategy, which includes a deal that would require insurers to return to certain fire risk zones in exchange for more leeway when it comes to setting rates.
DOXA to be acquired by Goldman Sachs
DOXA Insurance Holdings is set to join the portfolio of Goldman Sachs Asset Management following a definitive acquisition agreement.
This move by Goldman Sachs represents a strategic investment in DOXA and signifies a major leap towards further expansion for the underwriting company. The inflow of capital from Goldman Sachs will bolster DOXA's strategy for acquiring complementary businesses and fuel its organic growth endeavors. Despite the change in ownership, DOXA's management and employee shareholders will maintain a substantial stake in the company.
This move by Goldman Sachs represents a strategic investment in DOXA and signifies a major leap towards further expansion for the underwriting company. The inflow of capital from Goldman Sachs will bolster DOXA's strategy for acquiring complementary businesses and fuel its organic growth endeavors. Despite the change in ownership, DOXA's management and employee shareholders will maintain a substantial stake in the company.
BTJ Insurance expands with addition of two new affiliate agencies
In a series of strategic affiliations within the sector, Antioch Insurance Agency and Baker Insurance have both integrated with BTJ Insurance to bolster the latter’s foothold in Tennessee.
Earlier in the year, Antioch Insurance Agency, previously independently owned by Doug and Sherry Paschall, aligned with BTJ Insurance, which operates under the network of Leavitt Group affiliates. Post-affiliation, Antioch Insurance has adopted the BTJ Insurance brand identity. The Paschalls bring their industry expertise to BTJ Insurance's Nashville office.
Earlier in the year, Antioch Insurance Agency, previously independently owned by Doug and Sherry Paschall, aligned with BTJ Insurance, which operates under the network of Leavitt Group affiliates. Post-affiliation, Antioch Insurance has adopted the BTJ Insurance brand identity. The Paschalls bring their industry expertise to BTJ Insurance's Nashville office.
Hub International launches violent acts liability insurance offering
Hub International (HUB) has launched a new product designed to cover liability risks arising from malicious acts of violence on business operations.
A news release from the brokerage said its Violent Acts Liability Insurance is underwritten by Lloyd’s of London and has a maximum coverage limit of up to $25 million, with the flexibility to secure higher limits if required.
According to HUB, this offering includes broader coverage for the third-party liability caused by violent acts impacting an organization, including mental anguish experienced by onlookers or family members of victims who were not physically harmed during the incident.
A news release from the brokerage said its Violent Acts Liability Insurance is underwritten by Lloyd’s of London and has a maximum coverage limit of up to $25 million, with the flexibility to secure higher limits if required.
According to HUB, this offering includes broader coverage for the third-party liability caused by violent acts impacting an organization, including mental anguish experienced by onlookers or family members of victims who were not physically harmed during the incident.
