RIMS has announced the addition of its 80th chapter: the New Zealand and Pacific Islands Chapter of RIMS.
The New Zealand and Pacific Islands Chapter of RIMS inaugural Board of Directors includes: President – Teressa Betty, Risk Management Consultant at ASB Bank; Vice President – Kate Beddoe, Chief Risk Officer at Vector; RIMS Delegate – Kerry Bakkerus, Risk and Privacy Manager at Counties Manukau Health; Treasurer – Darren Evans, General Manager Safety & Medical for Air New Zealand; Secretary – Greg Lazzaro, Global Health, Safety, Resilience & Risk Director at Fonterra.
MarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, launched its new exclusive MGA facility, WildCat to provide additional coverage capacity for insuring wildfire, brush, and quake exposures. Analysts have noted the California personal lines market is trending toward a hard market, with rates for brush exposed properties trending towards increases from 10% to 50%.
Arthur J. Gallagher & Co. (AJG) announced the acquisition of Urbandale, Iowa-based Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC, wholly owned subsidiaries of Inversion Holding Company LLC. Terms of the transaction were not disclosed.
AJG also acquired Louisiana-based The Chapman Group, Inc., an employee benefit consultant and retail property/casualty broker offering coverage and services to clients. Terms of the transaction were not disclosed.
EPIC Insurance Brokers and Consultants, a retail property, casualty insurance brokerage and employee benefits consultant, announced the purchase of a retail wine industry book of business from Managing General Agency (MGA) Paragon Insurance Holdings LLC. The accounts in question came to Paragon in the fall of 2017 when they acquired wine industry specialist John Sutak Insurance Brokers, along with two winery programs from the Argo Group.
Andreas Kleiner, CEO at American Modern Insurance will be giving the opening keynote address at the Connected Claims Symposium in Chicago on June 5th. He will be speaking on “The Strategic Value of Claims for an Insurance Company.”
Waldorf Trade Risk, LLC (WTR), an insurance program administrator specializing in trade credit risk, announced the launch of ReceivaSure™, an accounts receivable insurance program for small- and medium-sized companies built on an end-to-end digital underwriting platform capable of processing most quotes in 24 hours. ReceivaSure will be offered in all 50 states on an admitted basis through Nationwide.
Mulligan Insurance recently joined Valley Insurance Agency Alliance (VIAA), a cohesive family of over 120 independent insurance agencies in Missouri and Illinois. Mulligan Insurance was founded in 2019 by owner Lance Hall, who has more than 20 years of industry experience. The full-service agency specializes in personal lines, small commercial, and life insurance.
Stephens Insurance, LLC, an affiliate of Stephens Inc., an independent, financial services firm, announced its partnership with Innovative Captive Strategies (ICS), a captive manager. ICS serves as a liaison between brokers and a consortium of small businesses grouped together in a captive.
Arlington/Roe & Co. has completed the acquisition of Robert W. Schmidt & Company LLC, a special risk broker located in the Milwaukee suburb of Brookfield, WI. Arlington/Roe, founded in 1964, is a family-owned managing general agent and wholesale property and casualty insurance brokerage firm headquartered in Indiana with 200 staff members in nine state offices and premium volume over $220 million.
K2 Insurance Services (K2) has announced the completion of the acquisition of the assets and operations of Mid-America Risk Managers, Inc. (MARM). MARM, based in Omaha, Nebraska, is a farm and agricultural focused specialty general agency that distributes specialty insurance products through independent agents and brokers. MARM is one of the largest program managers of coverage for Center Pivot Irrigation Sprinklers in the United States. MARM underwrites insurance products on behalf of members of Great American Insurance Group, The Travelers Indemnity Company and Century Insurance Group.
Mylo, a digital insurance broker that was launched in 2015 by Lockton Companies, has received a $28M investment in a Series A funding round led by Guggenheim Partners. Lockton Companies will continue as Mylo’s majority investor.
Brooks Insurance Agency, a national multi-line wholesaler, has expanded its West Coast presence with the addition of Frank Jacoy, Vice President/Broker, and Michael McCluskey, Senior Vice President/Broker. Both Frank Jacoy and Michael McCluskey will be located in Woodland Hills, CA.
Paragon Insurance Holdings, a national multi-line specialty program manager, announced it has contracted with Argo Group International Holdings to assume MGA responsibilities for Argo’s Landscape Contracting program, effective January 1, 2019.
AmTrust Financial Services, a specialty commercial property and casualty insurer, together with Endurance Dealer Services, a provider of extended vehicle protection, announced the launch of APEX EV, a Vehicle Service Contract (VSC) exclusively for electric vehicles that covers propulsion batteries. The VSC is designed specifically for the unique attributes of electric vehicles. This extended warranty includes parts and labor as well as propulsion battery coverage – which is often not included in traditional VSCs – but a key component for electric vehicles as the battery is critical to the functionality of the vehicle.