Markets/Coverages News

IGI Launches Marine Trades Insurance Product in UK

International General Insurance Holdings Ltd. has launched a Marine Trades insurance product, which covers the smaller recreational marine market across the UK. The addition of the Marine Trades product complements the company’s existing Ports & Terminals and Marine Liability portfolios. …

Homeowners Insurtech Openly Expands into Kentucky

Openly Insurance, a tech-forward company that specializes in premium homeowners insurance, is expanding into Kentucky, the fifth state it is offering its product in to date. Kentucky makes it the fifth state to now offer Openly’s exclusive homeowners insurance product, …

AAIS, Berkley Re Solutions Launch Cyber Protection Product for Families

AAIS (the American Association of Insurance Services) and Berkley Re Solutions, a Berkley Company (BRS), have launched Family Cyber Protection Solution, a new product designed to protect consumers as cyber threats and crimes continue to increase. The Family Cyber Protection …

Insurtech Trov Partners with LatAm Insurer Sura to Bring On-Demand Insurance to Brazil

Trov, the San Francisco-based insurtech company, is partnering with Latin American insurer Seguros Sura to bring on-demand insurance products to the Brazilian market. Recent regulatory changes in Brazil have enabled insurers to offer on-demand insurance products to consumers and businesses …

Brit Enters High Net Worth Market with Launch of Private Client Offering

Brit Ltd., the London-based specialty insurer and reinsurer, has launched a private client offering. Brit Private Client will provide brokers operating in the high and ultra-high net worth market, and their clients, with a bespoke approach. It will offer clients …

Allianz and Generali Plan to Sell Life Insurance Assets: Sources

Two of Europe’s largest insurers are gearing up to sell billions of euros in life assets — a niche corner of dealmaking keeping bankers busy amid the coronavirus pandemic. Allianz SE is planning to divest as much as 9 billion …

Lockton Affinity to Offer Coverage for Architects, Engineers through GenStar

Lockton Affinity has expanded its insurance coverage offerings to include customized policies for architecture, civil engineering, construction management, design build, electrical engineering, HVAC engineering, interior design, landscape architecture, mechanical engineering and surveying professionals. These professionals will have access to professional …

Willis Towers Watson Launches Customized Cyber Insurance for Shipowners

Willis Towers Watson announced the launch of CyNav, a new type of cyber insurance cover designed specifically for shipowners. The new product addresses the growing need for an explicit marine cyber solution, built from the ground up to specifically address …

BHSI Expands Defense Base Act Coverage into Dubai

Berkshire Hathaway Specialty Insurance (BHSI) is now offering Defense Base Act (DBA) insurance on a global basis through its DBA-dedicated underwriting and claims team in Dubai. According to Neeraj Yadvendu, head of Third-Party Lines, BHSI Middle East, the mandatory coverage …

CFC Launches Standalone Licensing Agreement Liability Product for IP Risks

CFC has released an insurance product for licensing agreements that expands on the company’s suite of media and intellectual property insurance products. According to the company, the global licensing industry is rapidly expanding as brand owners increasingly monetize their intellectual …