Markets/Coverages News

Canopius Launches Cyber Property Product to Address Silent Cyber Gap

Canopius, the London-based specialty re/insurer, announced the launch of a set of cyber property products for medium-to-large corporations across all sectors across the globe. In light of the ever-evolving cyber threat, the Canopius Cyber Property Damage Product Range (PDPR) will …

Brightway to Offer Agency Franchise Option With $5K Fee, Free Second Unit

Brightway Insurance, a nationwide personal lines insurance agency system, has enhanced its franchise model with an option to join with a $5,000 franchise fee and the right to open an additional location at no additional cost. Individuals that would like …

Safeco, Heritage Agree to Offer Renewals to AIG’s Upper Middle Market Clients

American International Group (AIG) announced it has entered into an agreement with Safeco Insurance, a Liberty Mutual subsidiary, and Heritage Insurance Holdings to offer AIG Private Client Group’s (PCG) agents the ability to transfer their upper middle market personal insurance …

Brit Global Specialty USA Transfers Renewal Rights for Cargo Business to Falvey Cargo

Brit Global Specialty USA will transfer the renewal rights for its cargo business to Falvey Cargo Underwriting, effective July 2. As part of the deal, Will Frohne and Yasu Saegusa will move from Brit to Falvey Cargo as underwriters. Brit …

Insurtech MGA Delos, Canopius to Offer Wildfire Protection Coverage in California

Delos Insurance Solutions, a property insurtech managing general agent (MGA), has created a new insurance product with Canopius US Insurance designed to improve the homeowners insurance options for those living in wildfire regions in California and across the United States. …

Orchid Insurance, Specialty Lines Startup CrossCover Form CAT-Focused MGU

Orchid Underwriters Agency, LLC, an independent managing general underwriters focused on catastrophe-exposed residential and commercial lines properties, has launched CrossCover Insurance Services, a new MGU that will underwrite middle-market commercial properties for wholesale broker clients. Formed in partnership with Scott …

Berkley One Launches Recreational Marine Product, Enhances Other Offerings

Berkley One has launched a recreational marine product and made other product enhancements in five states. Recreational Marine insurance, already offered by Berkley, has been relaunched through Berkley One with new technology and coverage innovations. According Kathy Tierney, president of …

Hiscox, Thimble to Offer Short-Term Business Insurance Plans

Hiscox has partnered with Thimble, a short-term liability insurance provider for small businesses, to offer coverage available by the hour, day or month. The partnership will allow Hiscox to give businesses flexibility, with customers having control of their policy via …

Fidelis, Aon and Marsh Develop Marine Cargo Clause Aiming to Combat Modern Slavery

A group of brokers and insurers in the London market has come together to announce a new approach to keeping the products of modern slavery out of the export supply chain. Fidelis, Aon and Marsh have developed a clause which …

Beazley Launches Contingency Policy Covering Virtual Event Organizers

Specialist insurer Beazley has launched a contingency policy designed to cover event organizers if a transmission failure disrupts or cancels a live virtual event. The insurer acknowledged that streaming live events is not new but the policy responds to an …