Coalition, a cyber insurance and security company, announced that it has raised $90 million in equity capital to fuel its mission to solve cyber risk and support its growth and global expansion. Valor Equity Partners led the funding with participation from Felicis Ventures, Greyhound Capital, and Coalition’s existing investors. The investment comes as the company’s customer base crosses 25,000 — a 600% increase from 2019 — making it one of the largest providers of cyber insurance and security in the U.S.
CyberCube has launched “Broking Manager,” a new software-as-a-service application designed specifically for insurance brokers. “Broking Manager” facilitates client insight for both generalist and cyber specialist brokers. The product is built to help brokers quantify, understand, and explain to their clients the sources and financial impact of cyber risk exposure.
Hub International Limited (Hub) has acquired Vestas Financial Services Firm Inc. Terms of the transaction were not disclosed. Vestas is an independent firm providing commercial and personal insurance with a focus on various industries, in particular, construction and design professionals, which supports Hub’s specialty practices.
Hub International also acquired the assets of Hatchett Insurance Agency, LLC. Terms of the transaction were not disclosed. Hatchett Insurance is a family-owned independent insurance agency providing personal and commercial insurance and employee benefits, including home and auto insurance, business insurance, life insurance, group health and more to households and businesses of Middle Tennessee. Nelson Hatchett, CEO of Hatchett Insurance, and the rest of the Hatchett Insurance team will join Hub Mid-South and remain in their current office location.
On May 12, Wright National Flood Insurance Services launched a Residential Private Flood Insurance Program throughout South Carolina. This first-of-its-kind, stand-alone product launched in Florida and New Jersey last year. Similar to customization options available in standard personal lines coverages, this is the first flood coverage that allows property owners to tailor their flood insurance policy to their specific needs. Key features of the coverage include:
- No waiting period
- No Elevation Certificate required
- Higher dwelling limits
- Single deductible
- Automatic replacement cost on both dwelling and personal property
- Loss of Use, Other Structures, and Building Ordinance coverages
- Optional Resiliency coverage
Ethos Specialty has launched a new commercial general liability program for U.S. real estate owners and managers, targeting apartments, condos, co-ops and commercial properties. The new program utilizes advanced third-party data analytics via multiple APIs to offer fair and accurate terms and conditions to qualified buyers in the market space.
Agero announced that Vice President of Contact Center Operations Chris Richard has been named the winner of a Gold Stevie® Award in the Customer Service Executive of the Year category in the 18th Annual American Business Awards®. Judges considered Richard’s accomplishments in operational excellence, new digital enablement channels, and his focus on culture “impressive.”