Around the P&C insurance industry: Apr. 8, 2020
News from Neptune Flood, Beacon Hill Associates, QBE, Marsh, NIST, Insurance Risk Partners and more.
Neptune Flood, the all-digital, online flood insurance company, announced that it has opened for business in Arkansas, Idaho and Illinois. The 6.7 million households in these three states now have access to Neptune’s simple flood insurance solution. Neptune is now offered in 42 states.
Beacon Hill Associates, Inc. has announced the release of two new resources for partner agents. Available through Beacon Hill’s Agent Portal, agents now have the ability to receive A+ rated Contractors Pollution Liability quotes online. Additionally, the REAL Environmental Evaluation™ is an environmental risk assessment that helps agents and their insureds evaluate potential pollution exposures. Both tools are web-based, giving agents a fast, user-friendly way to help them connect to insureds.
QBE North America announced it will help support health care workers in the fight against the COVID-19 pandemic by donating 95,000 3M standard ear loop face masks to hospitals around the U.S.
Marsh, the insurance broker and risk adviser, recently announced that Marsh & McLennan, its U.S. middle market agency subsidiary, has acquired Schaumburg, which is part of Illinois-based Assurance Holdings, Inc. Founded in 1961, Assurance is a full-service brokerage providing business insurance, employee benefits, private client insurance, and retirement services to businesses and individuals across the country.
The National Institute of Standards and Technology (NIST) has released Economic Decision Guide Software (EDGe$), a new online tool designed to help state, city and private planners invest in cost-effective measures to improve resilience to hurricanes, wildfires and other disaster scenarios. The online tool requests user input about variables that are most crucial for determining the value of a resilience action, including often overlooked factors such as benefits that accrue day-to-day, even if disaster does not strike. It can also assess the effects of projects on neighboring communities. Beta versions of the tool have been used by the Delaware Department of Transportation to guide decisions regarding flood mitigation projects along sections of a major coastal highway.
Insurance Risk Partners (IRP) has entered into a partnership with BRP Group, Inc. to become part of their BKS-Partners operating group. IRP is known for its technical approach to risk management as well as its fundamental belief that “People Deserve Insurance Done Right.” BRP Group, Inc. is an independent insurance distribution firm that delivers tailored insurance and risk management insights and solutions. BRP represents over 450,000 clients across the United States and internationally, with approximately 50 offices in seven states.