Auto-Owners Insurance has acquired Capital Insurance Group, a regional P&C insurer serving the western U.S. since 1898. Capital Insurance Group operates with 47,500 licensed agents in 26 states and offers multiple lines of insurance, including life, home, auto and business.
RMS released its new U.S. Wildfire High Definition Model, a model solution that works to assess wildfire risk throughout the U.S. The model simulates over 18 million wildfires, capturing the complex behaviors that characterize fire spread, ember accumulation, and smoke dispersion, enabling users to better assess risks.
Peter K. Rosen, Esq. of JAMS was awarded the first Transactional Liability Leadership Award at Advisen’s annual Transaction Insurance Insights Conference, held in New York on January 30. The award recognizes an outstanding individual who is a transaction liability coverage expert, an innovator, and a mentor. The recipient is determined by the ten industry thought leaders who comprise the Conference Advisory Board.
ClaimSolution, an appraisal firm with over 40 resident offices across the Midwest, announced they will be expanding to provide nation-wide coverage in partnership with The Isaac Group, based in Atlanta, GA.
Preservation Capital Partners has made a strategic investment in US construction-focused MGA Cove Programs. Together the business will manage in excess of $200 million GWP, making it one of the largest independently owned emerging risk and specialty lines MGAs. Terms of the transaction remain subject to regulatory approvals and were not disclosed.
Guidewire announced the launch of DevConnect, an ecosystem developer environment that provides a set of tooling, APIs, businesses services, and documentation that Guidewire’s Solution partners can use to build add-ons for Guidewire’s InsurancePlatform products. This launch complements Guidewire’s growing Marketplace, which helps match Guidewire clients with its large selection of Solution partners.
TechAssure, the international association of insurance experts for technology-related industries, announced today that Michael Furlong, founder and CEO of Indio, was the 2018 recipient of The John Love Risk Innovation Award. The award is presented annually to an insurance professional who has demonstrated ingenuity, innovation and intellect to solve an issue within the risk management industry. The announcement was made at TechAssure’s October member meeting in Baden Baden, Germany by TechAssure Executive Director Garrett Droege and 2018 Chair Sandy Lee of Associated Benefits & Risk Consulting.
Travelers announced that separate fine jewelry insurance policies are now available through their new Wedding Protector Plan, with coverage limits of up to $100,000. With this new offering, engaged couples can safeguard their wedding from unexpected mishaps and, at the same time, protect their wedding bands and fine jewelry.
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.
The Bermuda Monetary Authority (BMA) announced their 2018 captive number. BMA had a total of 711 active captives reinsurance licenses on its register as of December 31, 2018, with captive premiums totaling approximately $40 billion, in turn maintaining Bermuda as the premier jurisdiction for captives.
Nationwide has launched a new auto insurance program for low-mileage drivers called SmartMiles, where members pay for the miles they drive. Nationwide developed SmartMiles for its low-mileage driving members that can provide substantial savings on their auto insurance premium.