Overlard Park-based MutualAid eXchange ( MAX ) has been declared insolvent , and the company has been placed into liquidation pursuant to a petition filed by the Commissioner of Insurance . MAX concentrated on HO and farm insurance and provided products to faith-based and mutual aid ministries . In 2022 , MAX wrote approximately $ 39 million in premium . •
INDUSTRY NEWS
KANSAS MARKETPLACE HEADLINES
AM BEST CL ‘ 24 OUTLOOK : STABLE
In their “ Market Segment Outlook : US Commercial Lines ,” AM Best has reported a stable market segment outlook for the U . S . commercial lines space in 2024 , partly based on the sector ’ s consistently strong underwriting results during the pandemic and amid significant economic and capital market fluctuations .
AM Best identifies several near-term concerns for the US commercial lines segment . Persistent economic inflation , despite central bank efforts to control it , tops the list . Additionally , social inflation factors such as increasing jury awards and litigation costs are impacting casualty lines .
Read more now at https :// news . ambest . com / research /
BECKER NAMED TO CAA EXECUTIVE COMMITTEE
KAIA member Kyle Becker of Smart Insurance in Abilene was recently elected to serve on the executive committee of Combined Agents of America ( CAA ). Congatulations to Kyle on this honor !
ELLIOTT GROUP VOTED “ BEST OF ”
Elliott Insurance Group |
recently |
had |
their |
Louisburg |
and |
Paola |
office |
locations |
voted |
as the “ Best Insurance |
Agency ” |
in |
Miami |
County by readers of The |
Herald . Congrats to their team on this achievement ! |
FEE INSURANCE NAMED IN TOP 10 AMONG BEST PLACES TO WORK
Fee Insurance Group in Hutchinson has announced that for the second consecutive year , the agency has been named the TENTH Best Place to Work in the Nation by Business Insurance . Congrats to their team for this exceptional achievement !
THE HARTFORD ANNOUNCES PROMOTIONS
In a recent announcement , The Hartford has named A . Morris Tooker as the Head of Commercial Lines , Melinda Thompson as Head of Personal Lines , Don Hunt as General Counsel , Chris Jones is now head of Small Commercial , and Tracey Ant has been appointed as Head of Middle & Large Commercial . All appointments are effective March 1 , except for Ant ’ s , which takes effect January 2 .
AMWINS RECAPITALIZES WITH $ 1B
KAIA ’ s Annual Industry Awards are one way to recognize and promote the valuable role of Kansas independent agents . You are invited to nominate independent agents and company representatives for one or more awards to be presented at KAIA ’ s Annual Convention , February 5-7 , 2024 . Don ’ t be bashful ; you can even nominate yourself ! Make your nomination today at www . kaia . com / industry-awards /
MAX DECLARED INSOLVENT
Overlard Park-based MutualAid eXchange ( MAX ) has been declared insolvent , and the company has been placed into liquidation pursuant to a petition filed by the Commissioner of Insurance . MAX concentrated on HO and farm insurance and provided products to faith-based and mutual aid ministries . In 2022 , MAX wrote approximately $ 39 million in premium . •
NOVEMBER / DECEMBER 2023
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