RiverStone, an insurance run-off management company, has acquired Rockville Risk Management and ER Quinn Company (collectively, “Rockville”). Rockville is a New York-based, privately-owned third-party administrator and loss adjusting company that provides comprehensive claim services to insurers, syndicates, managing general agents, re-insurers and self-insureds. Rockville will continue to operate as an independent subsidiary of RiverStone to preserve the services its clients have come to depend on.
Arthur J. Gallagher & Co. (AJG) has acquired Palm Beach Gardens, Florida-based Stonehenge Insurance Solutions, Inc. Terms of the transaction were not disclosed. Founded in 2007, Stonehenge Insurance Solutions offers commercial insurance products and consulting services to Professional Employer Organizations (PEO’s) and Staffing clients throughout the U.S. Stonehenge delivers specialized products such as worker’s compensation; professional, employment practices, general and cyber liability; commercial, hired and non-owned auto; workplace violence; umbrella coverages; and more.
The Insurance Marketing & Communications Association (IMCA) held their 61st Annual 2019 IMCA Conference and Showcase Awards Gala, where HealthMarkets and The Co-operators earned the most awards overall, each winning six, including two Best of Show Awards. They were followed by AIG and VGM Insurance Services, each winning five awards; VGM won the most Best of Show Awards, with four.
Gallagher won the popular SAMMY Award given to the entry voted by peers to be the best overall work among all of the IMCA Showcase Award of Excellence and Best of Show winners displayed at the conference. Gallagher earned the SAMMY Award for its “College Student Insurance Campaign” in the Digital Advertising/Marketing, Single Piece category.
The Hilb Group, LLC (THG) announced the acquisition of Vermont-based Jamieson Insurance Agency, Inc. (JIA). The transaction became effective on July 1, 2019. JIA is a property & casualty agency primarily providing business, auto & home insurance to clients throughout Vermont. Agency Leader, Jon Jamieson, will continue to lead the JIA team out of their three offices in Richmond, Waitsfield, and Waterbury.
Aon plc, a global professional services firm providing risk, retirement and health solutions; Oxfam in Sri Lanka, an organization working to alleviate poverty; and Etherisc, an InsurTech startup developing a protocol for decentralized insurance applications, have launched a blockchain-based platform delivering agricultural insurance policies for smallholder farmers in Sri Lanka. Nearly 200 farmers have enrolled in the solution that delivers micro-insurance to smallholder paddy field farmers in Sri Lanka who are at risk of losing their crops due to extreme weather.
“Oxfam in Sri Lanka expertise in climate-smart agriculture and our long-standing engagement with famer communities, provides us with in-depth knowledge about the opportunities and challenges that farmers have to climate and weather events,” Bojan Kolundzija, the Country Director of Oxfam in Sri Lanka said in a statement. “Allowing farmers to access the blockchain platform is an important milestone that is bringing an effective and affordable risk transfer mechanism to a large portion of the Sri Lanka economy.”