Specialty Program Group LLC has launched Flagship Marine Underwriters, a best-in-class yacht and charter recreational marine underwriting facility. Based in Fort Lauderdale, Florida, Flagship specializes in global underwriting facilities for yacht, luxury yachts and the charter yacht industry.

Assurant Inc. has expanded its SureDeposit product to commercial property owners, management companies and their tenants. Previously only available in the residential market, Sure Deposit now enables commercial property managers to offer a surety bond payment as an alternative to a security deposit.

Specialist reinsurance broker Capsicum Re has confirmed its role as reinsurance broker working with the Arch Capital Group Ltd.'s new Washington D.C. based subsidiary, Arch MRT, on the new mortgage credit risk transfer program, 'IMAGIN'.

Tokio Marine America and Tokio Marine HCC, two subsidiaries of Tokio Marine Holdings, are offering food and beverage importers simplified access to Cargo and Product Contamination coverage. This partnership will offer broader choices and coverage and importers seeking protection from new exposures created by the Food Safety Modernization Act.

IAT Insurance Group has reached a definitive agreement to acquire the renewal rights and certain associated assets for a book of surplus lines excess and umbrella insurance business from Rockhill Insurance Group, a subsidiary of State Auto Mutual Insurance Company. Financial terms were not disclosed, and the deal is expected to close May 1, 2018.

HUB International Limited has acquired the shares of Desilets Insurance Brokers Ltd. Terms of the acquisition were not disclosed.

LexisNexis Risk Solutions announced that the Small Business Financial Exchanges Inc. (SBFE), a not for profit trade association, has approved a data sharing arrangement where the insurance companies and SBFE Member (comprised of small business lenders) can participate in sharing small business information to more effectively assess risk across both industries.

Lockton has acquired E3 solutions, an enrollment and benefits administration firm founded in 2014.

Starr Companies has reached an agreement with SkyWatch, a data analysis, risk assessment and active risk-reduction platform for the drone industry. The agreement will offer qualified unmanned aerial vehicle operators the ability to secure insurance “on demand” for each flight.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].

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