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McGowan Allied Specialty Insurance Announces Sales Territory Realignment

Article 0 Comments McGowan Allied Specialty Insurance announced a strategic realignment of sales territories within its in-house team designed to enhance services, improve regional coverage, and ensure a more tailored experience for clients across the country. The Ohio-based company said that by reallocating territories among its sales producers, it is strengthening its ability to “respond efficiently to client needs while maintaining deep knowledge of regional markets.” The newly assigned territories are now in effect, the company said. MASI provides entertainment and amusement insurance solutions for amusement parks, waterparks and family entertainment centers.. Topics Excess Surplus New Markets Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. Interested in Excess Surplus? Get automatic alerts for this topic.

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People Moves: XPT Specialty Hires Goedeke as Underwriter/Broker

Article 0 Comments Kyle Goedeke XPT Specialty, headquartered in Plano, Texas, hired Kyle Goedeke as an underwriter/broker. Goedeke has nearly a decade of experience across wholesale brokerage, underwriting, and excess and surplus (E&S) line placements. In his role at XPT Specialty, Goedeke will underwrite and place a wide range of commercial P&C binding business, with a focus on owners, landlords & tenants (OL&T), hospitality, and habitational risks. He will work closely with retail agents to structure and place coverage for complex property and liability exposures. Topics Agencies Excess Surplus Underwriting Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. Interested in Agencies? Get automatic alerts for this topic.

United Heritage Insurance Company goes live on Equisoft’s cloud-based policy administration system 0

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United Heritage Insurance Company goes live on Equisoft’s cloud-based policy administration system

The implementation of Equisoft/manage and digital insurance tools for annuity products addresses United Heritage’s need to modernize their policy administration infrastructure to remain competitive and accelerate product launches in the evolving financial services market Philadelphia, PA (Feb. 4, 2026) – Equisoft, a leading global digital solutions provider to the financial services industry, is pleased to announce that United Heritage Life Insurance Company has successfully gone live with their annuity products on Equisoft/manage, a modern SaaS policy administration system for life insurance and annuities. United Heritage selected Equisoft’s comprehensive end-to-end solutions to support their Life and Annuities business, implementing Equisoft/manage for policy administration, along with Equisoft/apply (eApp) and AppCapture for digital application processing. The transformation also included migration of their agents to Equisoft/manage, creating a unified digital experience across the entire insurance value chain from application through claims processing. “We chose Equisoft because of their domain expertise in insurance technology and their approach to solution delivery,” said Todd Gill, President and Chief Executive Officer at United Heritage. Johanna Hale, Senior Vice President, Chief Transformation and Risk Officer further added, “Our legacy policy administration system was limiting our ability to effectively scale and quickly bring new products to market. Equisoft has been...

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Governor ‘Not Convinced’ California Wants to Take Over PG&E

Article 0 Comments California Gov. Gavin Newsom said he doesn’t see the state having the appetite to take over PG&E Corp., which has come under criticism recently for blackouts that hit San Francisco. “I’m not convinced” the state wants to get into the utility business, Newsom said during an event in San Francisco hosted by Bloomberg News. Related: Edison Sues LA County Over Fire Deaths for Delayed Alerts Newsom previously weighed a possible takeover of PG&E during negotiations over the company’s restructuring after it filed for bankruptcy in 2019 due to billions of dollars of wildfire liability claims. More recently, some elected officials in San Francisco have renewed calls to take over PG&E’s wires and poles in the city after power outages darkened neighborhoods over the holidays. Separately, gubernatorial candidate and billionaire Tom Steyer has called for the state’s utility monopolies to be broken up after they’ve sharply raised rates. Gavin Newsom, governor of California, during an interview in San Francisco, California, US, on Thursday, Jan. 29, 2026. Newsom assailed the White House border czar, saying he’s the wrong person to deescalate tensions in Minneapolis spurred by the president’s immigration crackdown. Newsom noted that the state already has the ability...

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Chubb Posts Record Q4 and Full Year P/C Underwriting Income, Combined Ratio

Article 0 Comments Insurer Chubb booked fourth quarter net income 24.7% higher than a year ago at about $3.2 billion. Results included record P/C underwriting income of $2.2 billion, up nearly 40% over the same period in 2024. The P/C combined ratio was also a record, coming in at 81.2. Chubb benefitted from lower catastrophe losses during the fourth quarter—$365 million pretax compared with $607 million last year. Pre-tax favorable prior year reserve development was $268 million in Q4 versus $213 in Q4 2024. Consolidated net premiums written (NPW) increased 8.9% to about $13.1 billion. P/C net premiums were up 7.7% and life insurance increased NPW about 17%. For the full year 2025, Chubb absorbed an increase in pretax catastrophe losses compared with 2024—$2.92 billion versus $2.39 billion. However, P/C underwriting income finished 2025 up 11.6% to a record $6.5 billion and a combined ratio of 85.7, which was another record. Total pre-tax favorable reserve development for 2025 was $1.1 billion compared with $856 million for 2024. During Q4, total North America net premiums written were up 6.6% to about $7.3 billion compared with Q4 2024. The combined ratio in North America was 76.7, a 4-point improvement from the previous...

Sage Advisory Expands International Reach Through Strategic Collaboration with inCadense 0

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Sage Advisory Expands International Reach Through Strategic Collaboration with inCadense

Partnership delivers Sage’s multi-asset, ETF, and fixed income SMA portfolios to global investors via inCadense’s international turnkey asset management platform Austin, TX (Jan. 20, 2025) – Sage Advisory, an independent investment management firm, has announced a strategic collaboration with inCadense to bring Sage’s institutional-quality investment strategies to international markets. This partnership leverages inCadense’s open-architecture, multi-custody technology platform to deliver turnkey cross-border solutions, making Sage’s multi-asset, ETF, and fixed income SMA portfolios accessible to wealth advisors, family offices, and financial intermediaries across Latin America, Asia Pacific, and other global regions. Through this collaboration, Sage is transforming its ETF, fixed income, and OCIO multi-asset strategies into offshore separately managed accounts via the inCadense International Turnkey Asset Management Platform (iTAMP). Working alongside inCadense’s RIA affiliate, iH2 Advisors & Company, Sage will offer flexible managed account formats designed specifically for non-U.S. investors. “Sage’s vision has always been to bring institutional-quality multi-asset, fixed income, and OCIO strategies to a broader audience,” said Bob Smith, President and Chief Investment Officer of Sage Advisory. “Our collaboration with inCadense is the next step in making our investment solutions available globally. By combining our disciplined investment process with inCadense’s agile technology, we can scale implementation across custodians and currencies...

GFT and FICO Launch Global Partnership in Smart Finance 0

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GFT and FICO Launch Global Partnership in Smart Finance

AI-Driven Alliance Improves Onboarding for Risk Management and Real-Time Decision-Making for Banks Worldwide Foster City, CA (Jan. 2, 2026) – Digital fraud is rising fast: In the U.S., losses hit $12.5 billion in 2024. Online crime there reached $16.6 billion. In Europe, payment fraud topped €2 billion in just the first six months 2023. To fight this wave, GFT Technologies and FICO, a global leader in analytic software, have joined forces in a new global partnership. Their goal: help banks act in real-time, stop fraud early, and simplify risk decisions using AI. “This partnership reflects what the market needs most: speed, trust, and intelligence at scale,” said Marco Santos, Global CEO of GFT. “Together with FICO, we are helping institutions around the world rethink how they respond to risk and deliver better, safer experiences for their customers.” Early successes of the alliance are projects delivered in both Asia and Latin America. For a digital bank in Asia, FICO’s real-time analytics powered rapid decision-making and risk controls. Together, GFT and FICO enabled digital onboarding, live identity checks, and continuous updates throughout the customer lifecycle. For one of Latin America’s largest insurance companies, GFT implemented demand management powered by FICO® Platform’s decision...

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Bill Introduced to ‘Transform’ The California FAIR Plan

Article 0 Comments A bill to initiate reforms to the California FAIR Plan that include changes to customer service and claims, and added transparency was introduced on Monday. Assembly Bill 1680, the Make It FAIR Act, authored by Assemblymember Lisa Calderon and sponsored by California Insurance Commissioner Ricardo Lara, is designed to strengthen claims handling, expand coverage options, and improve transparency for wildfire survivors. Related: California Bill Would Require Insurer Claims Handling Plans, and Double Penalties The act enacts reforms identified in the California Department of Insurance’s recent Report of Examination, which found the FAIR Plan had failed to comply with 17 recommendations related to financial condition, corporate governance, and consumer protections. The examination reportedly revealed systemic problems that left wildfire survivors struggling with delays, denials, and inconsistent claims decisions, particularly after the 2025 Los Angeles wildfires, according to the CDI. Insurance claims paid from Los Angeles wildfires is $22.4 billion, yet the department has taken formal legal action against the FAIR Plan for denying hundreds of smoke damage claims, and despite Lara’s efforts to improve the FAIR Plan’s performance and accountability, wildfire survivors have continued to report ongoing problems accessing benefits, with delays, denials, and miscommunication at the top...

Waabi secures CAD$1 Billion in new funding to lead Physical AI revolution 0

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Waabi secures CAD$1 Billion in new funding to lead Physical AI revolution

“Toronto, your Waabi will be arriving shortly.” Named after the Japanese word for “simple,” Toronto-based autonomous-vehicle startup Waabi just achieved the largest funding round in the history of Canada’s technology sector as it aims to accelerate the development of its physical AI platform, boost efforts to commercialize self-driving trucks, and enter the robotaxi market—via Uber’s platform—with plans to deploy a minimum of 25,000 autonomous vehicles on Uber’s ride-hailing service Toronto, ON (Jan. 28, 2026) – Waabi, the leader in Physical AI, is pleased to announce it has closed its oversubscribed $750M USD Series C round co-led by Khosla Ventures and G2 Venture Partners, and secured an additional milestone-based future investment from Uber to support a new partnership to deploy robotaxis powered by the Waabi Driver exclusively on the Uber platform. The funding, the largest fundraise in Canadian history, will fuel the continued advancement of Waabi’s Physical AI Platform, further accelerate the company’s commercial progress in autonomous trucking, and support Waabi’s expansion into robotaxis. Founded in 2021, Waabi has quickly ascended from industry upstart to leader in Physical AI. The company’s revolutionary Physical AI Platform enables true scale, generalizing to different form factors, geographies, and environments. Waabi’s Platform combines a verifiable...

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Search Suspended for 7 People on Fishing Vessel That Sank Off Massachusetts

Article 0 Comments The U.S. Coast Guard on Saturday suspended the search for seven people who were aboard a commercial fishing vessel that sank off the coast of Massachusetts in rough, frigid waters. The Coast Guard launched a search and rescue mission early Friday after receiving an alert from the 72-foot (22-meter) Lily Jean about 25 miles (40 kilometers) off Cape Ann. Searchers found a debris field near where the alert was sent along with a body in the water and an empty life raft, the Coast Guard said. Crews covered about 1,000 square miles (2,589 square kilometers) using aircraft, cutters and small boats over a 24-hour period. However, after consultation between search and rescue mission coordinators and on-scene commanders, the Coast Guard announced Saturday that it had determined that all reasonable search efforts for the missing crew members had been exhausted. Officials said there wasn’t a mayday call from Lily Jean as it navigated the frigid Atlantic Ocean on its way home to Gloucester, Massachusetts, America’s oldest fishing port. The Coast Guard was notified by the boat’s beacon that alerts when it hits the water. The Coast Guard is investigating the cause of the sinking. Officials did not immediately...