Markets/Coverages News

Willis Towers Watson Extends Specialized Broking Program to Financial Institutions

Willis Towers Watson has formed Financial Institutions Differentiated Broking Solutions (FI DBS), an expansion of the DBS program for general industry mid-market clients that launched in June 2019. DBS utilizes Willis Towers Watson’s technical expertise and market relationships with property/casualty …

PERILS Releases Industry Exposure Database 2020, Now Including Australia Motor

PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has released its Industry Exposure Database 2020. The database contains up-to-date information about property sums insured and the number of risks exposed to natural perils in Australia, Austria, …

AXA XL Launches Virtual Risk Assessment Service Called ‘Remote Risk Dialogue’

AXA XL Risk Consulting has launched a new risk assessment service, Remote Risk Dialogue, to continue evaluating loss prevention across business lines amid COVID-19 restrictions. Using data captured from telephone calls, web tools and existing reports, Remote Risk Dialogue enables …

Mississippi Windstorm Insureds Eligible for Fortified Roof Replacement

The Mississippi Windstorm Underwriting Association (MWUA) will now provide – at no cost to homeowners – a FORTIFIED Roof endorsement on eligible new and renewing policies. The new endorsement will apply when a covered claim results in 50% or more …

Specialist MGA Lions Gate Expands Canada Offering with Environmental Insurance Cover

Lions Gate Underwriting, the Vancouver-based specialist managing general agent, has launched a new Environmental Insurance product as part of its coverage offering. The program is being underwritten by Great American Insurance Group, which backs a number of Lions Gate products, …

Insurtech ‘Babel Cover’ Collaborates with Maltese Insurer Atlas to Offer Bicycle Insurance

Babel Cover, a British insurtech start-up, is working with Maltese insurer Atlas and emerging technology firm Piprate to insure bicycles of competitive cyclists, triathletes and commuters of Malta. The intention of the pilot is to perform live and controlled product …

Sompo Int’l Forms Agricultural Insurance Partnership with Portuguese MGA ATLAS

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that its global agriculture platform, AgriSompo, has entered into a partnership with Portuguese managing general agent ATLAS Segurmina, to offer innovative crop insurance solutions …

CyberCube Releases New Edition of Cyber Accumulation Model

CyberCube, the cyber analytics provider for the insurance industry, has released an updated version of Portfolio Manager, the cyber risk modeling platform. Portfolio Manager allows insurers to stress test re/insurance portfolios against a range of systemic cyber-related scenarios, including data …

AIR Worldwide Launches Free COVID-19 Catastrophe Modeling Tool

AIR Worldwide has launched a free COVID-19 catastrophe modeling tool, one that predicts cases and offers death projections for the weeks ahead. The company said its Verisk COVID-19 Projection Tool, designed with AIR’s pandemic modeling data, will provide COVID-19 case …

Brightway Insurance to Offer Deferred Cost Option to New Franchisees During Pandemic

Brightway Insurance has made changes to its franchise contract in a move that is designed to make it easier to attain franchise ownership during the current coronavirus pandemic. According to Brightway President and CEO Michael Miller, the company will offer …