North Bay Business Journal

George Petersen Insurance acquires NorthWest

SANTA ROSA — George Petersen Insurance Agency today announced it acquired longtime competitor NorthWest Insurance Agency Inc., bringing together the North Bay’s second- and fifth-largest property and casualty insurance brokerages.

The acquisition, set to begin Sept. 1, includes six NorthWest Insurance operations in Santa Rosa, Napa, Ukiah, Gualala, Fort Bragg and Eureka, according to George Petersen President and Chief Executive Officer Charlie Bussman. Other terms of the acquisition were not disclosed.

Federal cuts to crop insurance subsidies raise brokers’ concerns

CALIFORNIA — Federal cuts to crop insurance premium subsidies totaling about $6.2 billion took effect July 1, and agencies and brokers that provide services to grape growers and other farmers in the state anticipate taking a sharp hit as a result.

Insurer leases 15,400sf for Santa Rosa office

SANTA ROSA – ProSight Specialty Insurance, an Atlanta-based property and casualty policy carrier, said it will hire about 150 employees as part of an expansion into Santa Rosa announced late last week.

Insurer plans to hire 150 in Santa Rosa

SANTA ROSA — Atlanta-based property and casualty policy carrier ProSight Specialty Insurance plans to hire about 150 employees for a new Santa Rosa office.

Employers face tough choices for health plans

NORTH BAY — Throughout the health care reform debate, employers and employees alike were told they’d be able to keep their current health plans, if so desired. With the unveiling of details on the so-called “grandfathering” clause by the Department of Health and Human Services, however, brokers said such a prospect seems slim, and employers will face a series of tough choices regarding what type of plan they choose to offer employees as they attempt to grapple with still-rising costs.

EPIC opens new branch in Petaluma

PETALUMA — A group of North Bay insurance veterans are starting the region’s first Edgewood Partners Insurance Center, a retail, property-casualty and employee benefits brokerage. They all left Wells Fargo Insurance Services for EPIC’s newest California operation, just opened in the Petaluma Marina Business Center.

Insurance: Fireman’s offers green discount; Also, Medicare rates debated

Novato-based Fireman’s Fund Insurance Co. announced in late June that policyholders with Energy Star buildings are eligible for a 5 percent discount as the property and casualty insurance company seeks to expand its green insurance.

Fireman’s Fund pumps $301 million into liability reserve

NOVATO — Fireman’s Fund Insurance Co. today made a brief announcement of plans to increase its reserves for “asbestos and environmental risks” by $301 million.

The Doctors Co. expands with $386 million American Physicians Capital deal

NAPA — The Doctors Company, a national insurer of physician and medical liability based in Napa, entered into an agreement to acquire American Physicians Capital Inc., a provider of health care liability insurance, for $41.50 per share in cash, or approximately $386 million.

Proposed cuts to crop insurance could hit state

CALIFORNIA — Proposed cuts to federal crop insurance totaling nearly $7 billion have the potential to reduce services and various safety measures for farms and wineries throughout the state, particularly in the North Bay, according to insurers and the Crop Insurance Professionals Association.