Hub announced that it has acquired the assets of Dadgar Insurance Agency, Inc. (Dadgar Insurance). Terms of the transaction were not disclosed. Headquartered in Woburn, Massachusetts, Dadgar Insurance is an independent, multi-line insurance brokerage serving both individuals and businesses throughout New England for more than 30 years.
Hub also acquired the assets of G.P. Barich Insurance Agency, Inc. (Barich Insurance). Terms of the transaction were not disclosed.
Marsh launched two new insurance facilities to address the critical casualty risks faced by clients operating in the fast-evolving sharing economy and autonomous mobility industry: Sharing Economy Insurance Facility and the Autonomous Mobility Insurance Facility.
Starr Insurance Companies announced that Starr International Brasil Seguradora S.A. (“Starr Brazil”) has been granted a local license to offer aviation insurance.
Starr Brazil will offer a variety of aviation coverages, including: Aircraft Hull & Liability; Spare Parts; Third-Party Legal Liability; Corporate Non-Owned Aircraft Liability; General Liability; RETA Insurance (Mandatory Liability), Hangarkeepers’ Liability; Premises Liability, Airport Liability; Products & Completed Operations Liability.
Flamingo Ai has launched MAGGIE for Auto Insurance, a Cognitive Virtual Inquiry Assistant that assists customers and employees with inquires related to auto insurance. This is the first out-of-the-box machine learning-based virtual inquiry assistant specifically trained for auto insurance.
The Hartford has announced the launch of its new credit and political risk insurance products that are designed to help corporations, financial institutions and private equity firms with international exposures manage their credit and political risks.
The Hartford’s political risk insurance policy helps corporations and private equity firms with global operations protect their investments and assets overseas from various political risks, such as expropriation, political violence, currency inconvertibility and breach of contract.
Arthur J. Gallagher & Co. (AJG) announced the acquisition of Conshohocken, Pennsylvania-based Preston-Patterson Co., Inc. Terms of the transaction were not disclosed.
AJG also acquired Southaven, Mississippi-based Pointer Insurance Agency, Inc. Terms of the transaction were not disclosed.
Ryan Specialty Group has acquired the assets and operations of Superior Payment Plan, a finance company based in Depew, NY. Superior’s operations will become part of Stetson Insurance Funding, LLC (“Stetson”), a subsidiary of Ryan Specialty Group.
Gallagher has created a unified consulting practice focused on delivering group and individual financial wellbeing solutions with their new Financial & Retirement Services practice. The new service will enable accessibility to experts who can help achieve successful retirement planning, sophisticated investment solutions, independent fiduciary services, actuarial consulting services, executive benefit retention programs and individual life insurance needs.