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Around the insurance industry: September 23, 2015

News from Torrent, DLL, Willis Group, Engle Martin, AssuredPartners and more.

By Trudy Knockless | Updated on September 23, 2015
Photo: Shutterstock/Tashatuvango

Torrent Technologies, Inc., a Marsh company, in coordination with Torrent’s Write-Your-Own (WYO) carriers participating in the National Flood Insurance Program (NFIP), announced the availability of a new excess flood insurance solution that combines broad coverage with real-time quoting and binding functionality. Torrent/DUAL Excess Flood is underwritten by Lloyd’s of London coverholder DUAL Commercial LLC, and provides up to $15 million in insurance protection above NFIP limits for residential and commercial property owners and up to $20 million in coverage for condominium owners. Written on a per risk basis, limits can cover damage to buildings and contents. Other coverage options, including loss of income/rents and earthquake, are also available to policyholders.

DLL announced it has sustained its growth in the first half of 2015. The company’s strong half-year result is credited to its focus on partnerships, dedicated industry knowledge and a balanced spread of activities across regions. In the first six months of 2015, DLL recorded a net profit of $286 million, an increase of 13.9% compared to the same period last year. DLL is active in more than 35 countries worldwide in 4 different continents and targets 9 different industries: food, agriculture, healthcare, clean technology, construction, industrial, transportation, office technology and automotive. A substantial increase in food, agriculture, construction, transportation and industrial business during the first half of 2015 contributed to a year over year growth of the company’s leasing portfolio with 4.7% towards $39.0 million. Geographically, Europe and North America were the primary contributors to this portfolio growth.

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