Markets/Coverages News

Liberty Mutual Forms Global Transaction Solutions Unit, Taps Bamford to Lead

Liberty Mutual’s Global Risk Solutions strategic business unit has centralized its mergers & acquisitions (M&A) insurance offerings with the formation of Global Transaction Solutions group (GTS). The creation of GTS is intended to simplify access for brokers and buyers to …

Aon Creates $350M of Cyber Capacity, Launches New Solution for Silent Cyber

Aon plc is continuing its investment in cyber by creating US$350 million of new reinsurance capacity and launching its silent cyber* solution. Aon’s silent cyber solution is designed to partner with carriers in their journey to identify, quantify and mitigate …

Sompo International Launches ‘SomPro,’ a Financial & Professional Lines Platform

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty re/insurance, announced that the company is launching SomPro, a global financial and professional lines platform encompassing insurance and reinsurance capabilities. SomPro said it aims to deliver market-leading underwriting, …

AIR Worldwide and Capsicum Re Collaborate to Enhance Silent Cyber Models

Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with reinsurance broker Capsicum Re to enhance the insurance industry’s modeling of what many refer to as “silent” cyber incidents. As part of the collaboration, the two firms will identify …

Max Services, Wetzel Associates Offer ‘Conversational’ Commerce Suite

Max Services Inc. and Thomas H. Wetzel & Associates have partnered with LivePerson, a provider of conversational commerce products, to provide insurers and agents with an enterprise-level option to communicate with their customers via websites, SMS, mobile apps, and other …

Online Insurer CM Select Targets Small Churches, Religious Organizations

Church Mutual Insurance Co. has launched CM Select Insurance Co. – an online insurer offering access to an insurance product specifically for smaller churches and other religious organizations. These organizations can obtain quotes, purchase policies and manage their insurance needs …

Agencies Focus on Growing Larger Accounts: Channel Harvest Survey

Independent agents and brokers are focusing on growing the average size of their commercial lines accounts, according to “Agent Voices 2018,” a report based on a survey conducted earlier this year and cosponsored by Channel Harvest Research and Insurance Journal. …

Lloyd’s Provides Insurance for Cryptocurrency Storage

Kingdom Trust, a company that stores digital currency for investors, has secured insurance coverage through Lloyd’s of London to protect against theft and destruction of those assets, the company said on Tuesday. The move by Kingdom Trust, which has $12 …

Finding the Missing Pieces in the Condo Insurance Coverage Puzzle

Have you ever watched someone try to finish a jigsaw puzzle with pieces missing? There are still a few hundred pieces to place, but there is one open space in the middle of a grove of trees that beckons to …

The Co-operators Offers Storm Surge Insurance to Homeowners in Atlantic Canada

The Co-operators Group Ltd. is offering storm surge insurance to homeowners in the provinces of Atlantic Canada: New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador. Most recently released in Nova Scotia, The Co-operators Comprehensive Water insurance is …