Ashoka Changemakers and QBE North America announced after reviewing over 100 applications, 10 finalists for the QBE Urban Resilience Challenge have been chosen based on their work to build more resilient, safe, healthy, and equitable cities. Finalists will pitch their ventures before a panel of business and social impact leaders in New York City on Wednesday, October 16, 2019. The winner (The Urban Champion) will be awarded a cash prize of $75,000, and the runner-up (The Urban Pioneer) will receive $25,000.
Hiscox announced enhancements to its architects and engineers coverage portfolio with the release of four new tailored solutions designed specifically for construction professionals. These specialized insurance products provide coverage for all parties on a job site, including architects and engineers, general contractors, artisan subcontractors, real estate developers and owners. Read more about the new coverage options on the Hiscox website.
CNA launched Epack 3, its next-generation modular management liability policy that is designed to be customized for a wide range of businesses and non-profit organizations. Epack 3′s initial launch offers six optional coverage parts: Directors and Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime, Kidnap Ransom and Extortion, and Non-Profit Directors and Officers Liability. CNA is actively working on additional coverage parts for launch in 2020 to further expand the breadth and scope of Epack 3.
The National Cannabis Risk Management Association (NCRMA) announced an extension of its novel and unique Appointed Broker Program. This pioneering program, which was launched in July 2019 in response to member complaints of poor agent service and understanding; NCRMA says the program has provided its members “with quality attention and expanded knowledge in the disheveled cannabis insurance market.” The NCRMA offers two tiers of membership for appointed brokers. These tiers offer various positions and services as well as discounts to the inaugural NCRMA association meeting currently being organized for March 2020. Interested brokers should contact the NCRMA on the broker page of its website.
Ryan Specialty Group, LLC announced it has reached a definitive agreement to acquire the assets and operations of The Suitelife, a program manager specializing in boutique hotels, premier and full-service hotels, hotel management companies, condo-hotels, and resorts from Venture Insurance Programs. Suitelife is based in West Chester, Pa., and will become part of RSG Underwriting Managers, LLC (RSGUM), the managing general underwriting unit of Ryan Specialty Group (RSG).
Swyfft, an AI-based insurance platform, is partnering with Sheltr, a subscription app that helps homeowners proactively care for their homes to catch and mitigate issues before they become costly repairs. The partnership will service homes in California’s Bay Area and Houston and will deliver Comprehensive Home Care, which includes bi-annual home maintenance check-ups and the ability to book home maintenance services on-demand through Sheltr app.
Randall & Quilter Investment Holdings Ltd. (R&Q) announced that its wholly-owned subsidiaries, Accredited Surety and Casualty Company, Inc. (Accredited U.S.) and Accredited Insurance (Europe) Limited (Accredited Europe), have recently completed a number of new program partnerships. Accredited U.S. will now be the issuing carrier on behalf of Paragon Insurance Holdings for specialty commercial transportation coverage in New York. Paragon, headquartered in Avon, Connecticut, is an MGA with a focus on niche specialty lines. Separately, Accredited Europe has formed an underwriting partnership with Sophro MGA Limited (Sophro), a U.K. MGA providing after the event insurance. Accredited Europe has also extended its program underwriting partnership with First Underwriting Limited, a U.K. MGA, to provide household insurance. First already underwrites a motor binder on the Accredited platform.