Around the P&C insurance industry: March 27, 2019
News from Integrated Risk Solutions, Hub and SBJW.
Marsh announced the launch of Cyber Catalyst by Marsh, a new program to assist organizations in managing their cyber risk and cybersecurity product choices. The Cyber Catalyst program is made up of cyber insurers from a range of major P&C organizations who will identify and evaluate solutions in reducing cyber risk. The initial group of insurers includes Allianz, AXIS, AXA XL (a division of AXA), Beazley, CFC, Munich Re, Sompo International and Zurich North America. Microsoft will be a technical advisor to the participating insurers, providing counsel on the products and services being evaluated.
Integrated Risk Solutions, a commercial insurance and employee benefits agency and division of Hub International, partnered with Access HealthNet, a direct contract solution that works to increase access and affordability in health care services for self-funded employers. The goal of this strategic partnership is to provide lower healthcare cost options to employers.
Arthur J. Gallagher & Co. announced the acquisition of Potomac Falls, Virginia-based McLean Insurance Agency, Inc. Terms of the transaction were not disclosed.
FM Global has invested $250,000 in AirWorks Solutions, a Massachusetts, USA-based startup that is developing aerial mapping software for mapping and surveying. FM Global will be partnering with AirWorks to apply their technology to property risk identification and loss prevention.
SBJW Insurance joined Valley Insurance Agency Alliance (VIAA), a cohesive family of over 120 independent insurance agencies in Missouri and Illinois. SBJW Insurance was founded in 2019 by owner Sara Bruns, and specializes in home, auto, business, life and health insurance. Founded in 2006, VIAA generates more than $200 million in written premium and is the regional founding member for the Strategic Insurance Agency Alliance (SIAA), a more than $8 billion national alliance.
Liberty Mutual has reached an agreement to sell its Pembroke Managing Agency, Ironshore Europe operations (IEDAC) and Visionary (Dubai) to Hamilton Insurance Group, subject to regulatory approval. Liberty Specialty Markets will continue to serve the Lloyd’s market through its Syndicate 4472 as well as continuing to serve the market through its other Company platforms.
TruRoad Auto Glass, a provider of in-shop and mobile auto glass repair, replacement and recalibration services, acquired two more auto glass service centers on both coasts. The two acquisitions include Apple Auto Glass of Portland, Oregon, and Hudson Valley Auto Glass, based in Wappingers Falls, New York, servicing the communities of Westchester County, Lower Hudson Valley and Duchess County.
Seeman Holtz Property & Casualty has acquired Prey Insurance Services, a personal and commercial insurance provider headquartered in Shawano, Wisconsin.
Accredited Surety and Casualty Company entered a partnership to be the issuing carrier on behalf of Pronto General Insurance Agency LTD (‘Pronto’) in California for its expanding private passenger automobile business. Pronto is a specialty MGA that provides a variety of coverages to its customers in Texas and California.
Hub International Limited has acquired The Insurance Exchange, Inc. Terms of the transaction were not disclosed.
Venable LLP added four high-profile entertainment and media litigation partners to its national Commercial Litigation Practice in the Los Angeles office. These attorneys — Lee S. Brenner, David E. Fink, Michael J. O’Connor, and Sarah L. Cronin— regularly represent policyholders in claims to recover against insurance companies. In addition, five associates are joining the Commercial Litigation Practice: Sarah E. Diamond, Cary L. Finkelstein, Ken D. Kronstadt, Michael C. Godino, and Christina Nordsten.
Alera Group acquired Dohrmann Insurance Agency last month and was made effective March 1, 2019.