Independent agency AssuredPartners Inc. has acquired CoLiance Risk Advisors through its AssuredPartners of Indiana subsidiary. CoLiance is a full service commercial property and casualty and personal insurance brokerage firm, specializing in Workers' Compensation and effective risk management processes and strategies.
Prime Risk Partners Inc. acquired Cook Maran & Associates, Inc., one of the largest independent insurance agencies in New York and New Jersey. Cook Maran will continue to operate under the name Cook Maran & Associates, Inc. and will retain all five offices in New York and New Jersey, with plans to expand.
Roger Sitkins, president of the Fort Myers, Florida-based Sitkins Group, Inc., and Zywave, Inc., a leading provider of software-as-a-service (SaaS) technology solutions for the insurance industry, announced a strategic partnership that will allow independent insurance agencies to subscribe to The Better Way Agency program exclusively through Zywave. The Better Way Agency is a self-paced, on-demand program that focuses on total account selling: treating all clients as VIPs, annual account reviews, incentive compensation for sales and service staff, maximizing automation and filling the talent gap that exists in our industry.
Privilege Underwriters Reciprocal Exchange, a P&C insurer of high net worth individuals, has partnered with security firm Concentric Advisors to offer CyberSafe Solutions, first-of-its-kind services and insurance designed to help individuals better assess, prevent, detect and respond to cyber threats.
Toyko-based Tokio Marine Holdings, Inc. announced that it will acquire all outstanding shares of HCC Insurance Holdings, Inc., a U.S. insurance holding company comprising property & casualty, accident & health and other specialty insurance businesses, through TMHD's wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd. The total transaction value is approximately $7.5 billion, and the transaction is expected to close in the fourth quarter of 2015.
MarketScout has expanded its specialty high net worth underwriting practice with the addition of a new non-admitted $3.1 billion facility targeting agents with specialty expertise in the high net worth homeowners segment.
USI Insurance Services has acquired the insurance property-casualty construction and surety business of KORE Group, Inc., dba: Construction Agency Professionals (CAP). CAP is a retail insurance broker focused on providing insurance and surety products directly to construction companies and contractors.
Specialist insurer, Hiscox, announced that additional industries are now covered by its Hiscox Pro portfolio, offering policy forms for businesses in the security services, associations, staffing services and analytical testing labs industries. The latest enhancements are part of a broader strategy to offer new E&O solutions that address emerging risks across specific industries. Hiscox Pro currently offers consultants, trustees, real estate & property managers, and other service professionals specialized insurance coverage for the specific risks stemming from the services they provide.
SkiSafe insurance has expanded its jet ski and personal watercraft insurance program to provide coverage for stand-up jet skis.
Fidelis Group Holdings, LLC and its subsidiary Continental Underwriters, Ltd. have launched a new Master Port Risk Program designed to provide Hull and Liability coverage for qualified vessels that are laid up and out of commission for an extended period of time. Under the program, insureds have the opportunity to remove their vessels from a navigating policy at a greatly reduced cost. Liability limits for the program will be a minimum of $1,000,000 with options for higher limits.
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