Marsh & McLennan Agency (MMA) has acquired Employee Benefits Group, a Bethesda, Maryland-based independent insurance agency specializing in employee benefits and retirement consulting. Terms of the transaction were not disclosed. Founded in 1987, Employee Benefits Group provides employee health and welfare consulting and retirement consulting services to clients throughout the Mid-Atlantic. EBG has 12 employees, all of whom are joining MMA.
Shift Technology, a provider of AI-native solutions for the global insurance industry, announced that it has entered into an agreement with CNA Financial Corporation (CNA) to automate the carrier’s fraud detection capabilities. CNA will utilize Shift Technology’s FORCE program, the company’s AI-native, SaaS-based fraud detection solution.
Relation Insurance announced the acquisition of Villane Ward, an employee benefits brokerage based in Fresno, California. The company specializes in mid market clients, offering group benefits including healthcare, HR and benefit compliance, benefit administration, self-insurance and individual insurance. Terms for the transaction were not disclosed. The acquisition is expected to bring together complementary portfolios in the Fresno area and enhances Relation’s Employee Benefits capabilities in the West.
VisitorsCoverage and International Medical Group (IMG) have teamed up to provide a new travel protection plan for cruise-goers: SafeCruise. The SafeCruise plan features coverage for trip cancellation, trip interruption, emergency medical evacuation, plus other benefits that provide insureds with significant coverage for unexpected events. For cruisers seeking benefits for cancellation due to non-covered events, SafeCruise features an optional “cancel for any reason” benefit which can reimburse up to 75% of prepaid, non-refundable trip costs.
ATTOM Data Solutions announced the launch of Data-as-a-Service (DaaS), a publishing platform combined with cloud technology, that aims to simplify data access and offer on-demand computing power and storage capacity. ATTOM DaaS allows clients to streamline data management, offering robust analytics, modeling and machine learning.
Hub International Limited has acquired the assets of Integrated Risk Solutions, Inc. (Integrated Risk). Terms of the transaction were not disclosed. Based in Waukesha, Wisconsin, Integrated Risk is a commercial insurance and employee benefits agency specializing in the areas of risk management consulting, commercial insurance brokerage, employee benefits, loss control engineering and claim management. Integrated Risk has advised on compliance and risk management issues for clients in the construction, manufacturing, transportation, hospitality, retail and public entity industries.
HazardHub, a U.S.-based supplier of geospatial risk data, has announced that HydrantHub, an addressable database of fire hydrant locations, has just added its 10 millionth fire hydrant location. The milestone was achieved while examining the more than 180 hydrants for Hamlin, NY, as part of HazardHub’s intense drive to add fire hydrant locations. HydrantHub is available via HazardHub’s free “Where’s My Closest Hydrant” tool.
Arthur J. Gallagher & Co. (AJG) announced the signing of an agreement to acquire the global aerospace operations of Jardine Lloyd Thompson Group plc (JLT). The acquisition, subject to European Commission approval, is scheduled to close this spring in connection with the closing of the JLT purchase by Marsh & McLennan Companies, Inc. The agreement provides for the acquisition of all assets within JLT’s global aerospace retail and wholesale insurance broking division. The agreement also includes the assets of Hayward Aviation, a U.K. insurance broker that specializes in aviation for high-net worth individuals and smaller airlines. Approximately 250 employees from JLT’s global aerospace division will join Gallagher as part of the agreement.
AmWINS Group has completed the acquisition of The Flood Insurance Agency (TFIA), a Florida-based managing general agency that specializes in private market flood insurance. TFIA, operating as a Program Administrator for Lexington Insurance Company, provides access to Private Market Flood, an alternative to the National Flood Insurance Program. TFIA announced it will soon release a new commercial flood product supported by AmWINS’ distribution network and backed by Lexington Insurance Company.
AmWINS also announced it has formed a new railroad practice group. AmWINS has a focuse on the railroad industry, managing nearly 500 accounts bound annually across all lines. Led by Darron Johnston, the new railroad practice focuses on Property coverage and is based out of AmWINS Brokerage of Georgia in Atlanta.
J.S. Held, a global consulting firm, has acquired Magnan Graizzaro and Associates (MG&A). Headquartered in New York, MG&A is a national accounting firm that provides insurance claims investigation, forensic accounting and investigation, litigation and dispute consulting, and expert testimony. MG&A will join the J.S. Held team of over 600 international consultants. Existing MG&A clients will gain access to J.S. Held’s suite of specialized services including construction consulting, property damage assessment, surety services, project and program management, forensic architecture and engineering, and environmental, health, and safety services.
CRC Group announced a multimillion-dollar investment in a new data and analytics platform to be called REDY (Risk, Evaluation, and Database). REDY will use CRC Group’s proprietary data and analytics to improve every aspect of how a wholesale placed account is marketed and serviced.
AIG has sold its stake in The People’s Insurance Co. (PICC Group) of China it bought into in December 2012. AIG comes out of its investment 1.75% ahead with a profit of HK$67.8 million ($8.6 million), including the dividends it received, according to Bloomberg.
Tech company Roost announced a new purpose-built Commercial Property Telematics Solution designed specifically to address the needs of the SMB commercial insurance property market at an affordable price. The product delivers 24/7 alert management focused on water leak, temperature, power outage and fire/CO alarm situations. The solution also includes a white label mobile app that enables an engaging branded offering for the carrier and their customers.
The National Association of Professional Insurance Agents (PIA National) announced that PIA members are now able to sell the PIA enhanced cyber insurance product to their clients. PIA and ABA Insurance Services (ABAIS) have worked together with Great American E&S Insurance Company to create a cyber insurance program that responds to the most common cyber threats facing small and mid-sized businesses.
The PIA enhanced cyber insurance policy covers both first- and third-party loss for those most common cyber risks that may affect small and mid-sized businesses. These include:
- Fraudulent funds transfers
- Extortion/ransomware
- Social engineering
- Business interruption
- Data breach/privacy
- Network security
- Website media liability