Federated Insurance Company of Canada

NAIC Data Call to Provide Robust Look at Property Insurance Availability, Affordability

Retrieved on: 
Thursday, November 2, 2023
Property, Insurance, Treasury, FIO, Committee, Data collection, Commissioner, Multimedia, NAIC, Federated Insurance Company of Canada, U.S. Department of the Treasury, Office of Inspector General, Property and casualty insurance guaranty funds, Use of Free and Open-Source Software (FOSS) in the U.S. Department of Defense, National Association of Insurance Commissioners, Investment, National Association

Work on the template for the ZIP-code-level data state insurance regulators will request from insurers is continuing under the direction of the Property and Casualty Insurance (C) Committee, chaired by Alan McClain, Commissioner of the Arkansas Insurance Department.

Key Points: 
  • Work on the template for the ZIP-code-level data state insurance regulators will request from insurers is continuing under the direction of the Property and Casualty Insurance (C) Committee, chaired by Alan McClain, Commissioner of the Arkansas Insurance Department.
  • The NAIC has been engaged in ongoing discussions regarding the data call with members of the insurance industry and state insurance regulators, as well as the U.S. Department of the Treasury's Federal Insurance Office (FIO).
  • State insurance regulators have been working to add granular data on availability and affordability of property coverage for consumers to the robust financial data on solvency and investments we already have.
  • This is part of our long-term, robust data collection strategy to help regulators nimbly respond to inquiries related to their property markets.

NAMIC Warns Lawmakers to Focus on Growing Risk to Ease Rising Insurance Costs

Retrieved on: 
Wednesday, November 1, 2023
Insurance, Policy, Weather, Wildfire, National Centers for Environmental Information, Grande, National Association of Mutual Insurance Companies, Congress, Federation, United States House Financial Services Subcommittee on Housing and Insurance, Federated Insurance Company of Canada, Capitol Hill, Cyclone, Disaster, Risk, NAMIC, House, Consumer, Data wrangling, Hearing, National Association, Bank

Congress needs to look past the surface issues of higher insurance costs and focus on what's driving those increases.

Key Points: 
  • Congress needs to look past the surface issues of higher insurance costs and focus on what's driving those increases.
  • "Insurance is a mechanism for spreading risk, and it is not insurance that's changed," said Jimi Grande, senior vice president of federal and political affairs for NAMIC.
  • "Instead, what we're seeing is the risk and cost of what's being insured going up dramatically.
  • Congress needs to look past the surface issues of higher costs and focus on what's driving those increases."

OHBA Congratulates the 2023 Awards of Distinction Winners

Retrieved on: 
Wednesday, September 20, 2023
Human, Central Park, Twenty-five Year Award, IV, Engineering, Professional, BILD, Planner, Creativity, Lily Lake, AOD, Moen, Daniels, Construction, Federated Insurance Company of Canada, AMST, Interior design, Property management

Collingwood, Ontario, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The Ontario Home Builders’ Association (OHBA) is pleased to announce the 2023 OHBA Awards of Distinction (AoD) winners.

Key Points: 
  • Collingwood, Ontario, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The Ontario Home Builders’ Association (OHBA) is pleased to announce the 2023 OHBA Awards of Distinction (AoD) winners.
  • This annual awards program recognizes the creativity, innovation, and excellence of builders, renovators, developers, and service professionals within Ontario’s dynamic residential construction industry.
  • Categories span seven groupings, including architectural design, renovation, room design, image & advertising, on-site sales presentation, and the coveted prestige awards.
  • The winners were revealed last night at the AoD Gala presented by Federated Insurance and hosted by comedian and TV personality Graham Chittenden.

AM Best Upgrades Issuer Credit Ratings of Northbridge Financial Corporation’s Members and Affirms Credit Ratings of Wentworth Insurance Company Limited

Retrieved on: 
Thursday, August 17, 2023
Banking, Professional Services, Insurance, Finance, AM Best, ALL, ERM, Federated Insurance Company of Canada, Credit, Fairfax Financial, Zenith Insurance Company, FSR, FFH, AM, TSX, News, Risk management

AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of the members of Northbridge Financial Corporation (Northbridge), which is composed of Federated Insurance Company of Canada, Northbridge General Insurance Corporation, Zenith Insurance Company and Verassure Insurance Company.

Key Points: 
  • AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of the members of Northbridge Financial Corporation (Northbridge), which is composed of Federated Insurance Company of Canada, Northbridge General Insurance Corporation, Zenith Insurance Company and Verassure Insurance Company.
  • Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Wentworth Insurance Company Limited (Wentworth) (Barbados).
  • Northbridge’s ratings benefit from the favorable financial flexibility and significant levels of cash and marketable securities held at the ultimate holding company level.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

 Steve Jennings to Spearhead New Dedicated Real Estate Practice for AmTrust

Retrieved on: 
Monday, October 31, 2022
Insurance, Professional Services, Insurance, Chartered Property Casualty Underwriter, Lead, Multimedia, Tokio Marine, Communication, BOP, Jennings, AmTrust Bank, Federated Insurance Company of Canada, Aon, Real estate, Industry, CPCU, AmTrust Financial Services, University, Senior, Risk management, Goal, Management

AmTrust Financial Services, Inc. (AmTrust or the Company), a global specialty property and casualty insurer, today announced that Steve Jennings has joined the company as Senior Vice President, Underwriting, to oversee its Nonprofits Practice, as well as a newly created dedicated Residential Real Estate Practice.

Key Points: 
  • AmTrust Financial Services, Inc. (AmTrust or the Company), a global specialty property and casualty insurer, today announced that Steve Jennings has joined the company as Senior Vice President, Underwriting, to oversee its Nonprofits Practice, as well as a newly created dedicated Residential Real Estate Practice.
  • View the full release here: https://www.businesswire.com/news/home/20221031005120/en/
    Our new dedicated Residential Real Estate Practice will focus on the unique risk management needs of the owners and managers of residential properties, ranging from small apartment buildings to nationwide portfolios, said Jeff Duncan, Executive Vice President, Commercial Lines.
  • Our launch of this group, with Steve Jennings in the lead, underscores AmTrusts long-term commitment to residential real estate professionals and the agents who serve them.
  • Jennings joins AmTrust with deep experience in residential real estate, human services, and other niche businesses.

Cowbell Hosts Inaugural Cyber Insurance Day in Washington D.C.

Retrieved on: 
Monday, October 31, 2022
Insurance, Cowbell Digital Music, SME, Cybersecurity and Infrastructure Security Agency, Eight Hundred Block of F St. NW, Private sector, EDT, Federated Insurance Company of Canada, Government, CEO, District, Evolution, Awareness, Industry, CTA, Risk, Computer security, National Union Building, Importance, European Small Business Alliance, CISA, SBA, FIO, Treasury, Specialization, Cowbell, CRI, Policy, Risk management, Weapon, San Francisco Bay Area

PLEASANTON, Calif., Oct. 31, 2022 /PRNewswire/ -- Cowbell, the leading provider of cyber insurance for small and medium-sized enterprises (SMEs), is hosting its first-ever Cyber Insurance Day in collaboration with the Cybersecurity and Infrastructure Security Agency (CISA), Small Business Alliance (SBA), Small Business Digital Alliance (SBDA), Cyber Threat Alliance (CTA) and the Cyber Readiness Institute (CRI). The in-person event will take place on Wednesday November 2nd, at the National Union Building, 918 F St NW in Washington, D.C. from 3:00-7:00 p.m. EDT.

Key Points: 
  • PLEASANTON, Calif., Oct. 31, 2022 /PRNewswire/ -- Cowbell , the leading provider of cyber insurance for small and medium-sized enterprises (SMEs), is hosting its first-ever Cyber Insurance Day in collaboration with the Cybersecurity and Infrastructure Security Agency (CISA), Small Business Alliance (SBA), Small Business Digital Alliance (SBDA), Cyber Threat Alliance (CTA) and the Cyber Readiness Institute (CRI).
  • According to the 2022 Cowbell Q1 Cyber Round-Up report , 74% of policyholders reveal that they feel more prepared to respond to a cyber incident since purchasing cyber insurance, and 79% agree that cyber insurance is worth the cost.
  • During the event, Cowbell and its collaborators will share resources with the goal to increase awareness around cyber risk, cyber insurance and cybersecurity for agents/brokers and SMEs.
  • "Cowbell's specialization in cyber insurance and dedication to SMEs is further enriching public-private partnerships toward the goal of creating a cyber resilient America," says Jack Kudale, founder and CEO of Cowbell.

RenaissanceRe’s 16th Risk Mitigation Leadership Forum Focuses on the Role of Credit and Risk Transfer in Leading the Transition to a Green Economy

Retrieved on: 
Tuesday, October 18, 2022
Insurance, Environmental Policy, Finance, Environmental Issues, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Professional Services, Construction & Property, Environment, Sustainability, Fintech, Green Technology, Climate Change, Transfer, Cambridge Institute for Sustainability Leadership, U.S. Department of Commerce Office of Security, Insurance, Movement, SEC, Government, Housing, CISL, Disaster, Organization, NYSE, Private sector, Carbon, Treasury, Multimedia, Transition, Partnership, SVP, Private Securities Litigation Reform Act, University, Solution, RenaissanceRe, Leadership, Company, U.S. Department of the Treasury, Office of Inspector General, Industry, Safety, Climate change, United Kingdom, Federated Insurance Company of Canada, BlackRock, RNR, Climate, Risk management, Renewable energy, Financial services, Credit

RenaissanceRe Holdings Ltd. (NYSE: RNR) (the Company or RenaissanceRe) held its 16th Annual Risk Mitigation Leadership Forum, Leading the Transition to a Green Economy: Role of Credit & Risk Transfer.

Key Points: 
  • RenaissanceRe Holdings Ltd. (NYSE: RNR) (the Company or RenaissanceRe) held its 16th Annual Risk Mitigation Leadership Forum, Leading the Transition to a Green Economy: Role of Credit & Risk Transfer.
  • The forum was hosted by RenaissanceRes Credit Team, led by Fiona Walden, SVP, Global Head of Credit, in partnership with ClimateWise, an insurance industry collaboration convened by the Cambridge Institute for Sustainability Leadership.
  • We believe climate change will have widespread societal consequences and RenaissanceRe is focused on facilitating the transition to a more sustainable future.
  • This was our first credit-focused Risk Mitigation Leadership Forum, and we were proud to bring together financial sector leaders to discuss the innovative ways that credit and risk transfer can support a greener global economy.

OHBA Congratulates 2022 Awards of Distinction Winners

Retrieved on: 
Wednesday, September 21, 2022
AOD, Reliance Home Comfort, Personality, Human, Association, Creativity, International Prestige Award of Merit, Hard, Industry, Federated Insurance Company of Canada, Moen, Program, Tridel, Enercare Centre, Marketing, Year, Housing, Property management

Hosted by comedian and TV personality James Cunningham, OHBA is proud to celebrate Ontarios best of the best in residential construction, design and marketing.

Key Points: 
  • Hosted by comedian and TV personality James Cunningham, OHBA is proud to celebrate Ontarios best of the best in residential construction, design and marketing.
  • All submitters into the 2022 OHBA AoD program were recognized throughout the evening to thank them for their support of this industry and association.
  • For the sixth time, the Tridel Corporation won the prestigious 2020 Ontario Home Builder of the Year award from the Ontario Home Builders Association (OHBA) in its Awards of Distinction program (AoD).
  • OHBA is the voice of the residential construction industry in Ontario, representing 4,000 member companies organized into 27 local associations across the province.

AM Best Affirms Credit Ratings of Members of Northbridge Financial Corporation

Retrieved on: 
Wednesday, August 24, 2022
Banking, Professional Services, Insurance, Finance, Insurance, Credit, Zenith Insurance Company, FFH, ALL, TSX, AM, Risk management, Fairfax Financial, Federated Insurance Company of Canada, News, AM Best, Transport, Industry

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of a (Excellent) of the members of Northbridge Financial Corporation (Northbridge), which include Federated Insurance Company of Canada (Manitoba, Canada), Northbridge General Insurance Corporation, Zenith Insurance Company and Verassure Insurance Company.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of a (Excellent) of the members of Northbridge Financial Corporation (Northbridge), which include Federated Insurance Company of Canada (Manitoba, Canada), Northbridge General Insurance Corporation, Zenith Insurance Company and Verassure Insurance Company.
  • Northbridge Financial Corporation is a subsidiary of Fairfax Financial Holdings Limited (Fairfax) [TSX: FFH].
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Bests Credit Ratings, Bests Performance Assessments, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments .

The Hanover Insurance Group, Inc. Elects Elizabeth A. Ward to Board of Directors

Retrieved on: 
Tuesday, July 19, 2022
Treasury, The Community Music School of the Piedmont, University, American Academy, Hanover Insurance, Insurance, Industry, Director, American Academy of Actuaries, NYSE, O'Hara, U.S. Treasury, Society of Actuaries, Federated Insurance Company of Canada, Risk management, Board, Economics, MassMutual, Car, Professional Risk Managers' International Association, Federal Advisory Council, Hanover, THG, International Association, Rochester, Ward, Trustee

WORCESTER, Mass., July 19, 2022 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced Elizabeth A.

Key Points: 
  • WORCESTER, Mass., July 19, 2022 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced Elizabeth A.
  • Ward has been elected to the company's board of directors, effective immediately, and has been appointed to serve on the board's audit committee.
  • Ward, 57, has served as Chief Financial Officer of Massachusetts Mutual Life Insurance Company ("MassMutual"), a mutual life insurance company, since June 2016.
  • The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States.