Around the P&C insurance industry: October 28, 2020
News from Chubb Charitable Foundation, Omaha National, USI and more
Chubb Charitable Foundation announced it has granted $346,000 to Rainforest Trust for a project to support the expansion and protection of one of the largest intact rainforest ecosystems in Southeast Asia. The grant is part of a previously announced $500,000 commitment to Rainforest Trust, a global conservation organization that purchases and protects the most threatened tropical forests, saving endangered wildlife and sequestering carbon through partnerships and community engagement.
Zurich North America Insurance is offering a construction app through Zurich Services Corporation designed to help its construction customers manage their risks and help improve safety, quality and insights while on the job. Subscriptions to the Zurich Construction Solutions app are now available industry-wide.
Omaha National, a workers compensation insurance provider serving small and midsize employers, has announced it has expanded coverage into Connecticut and Georgia. Connecticut and Georgia will be the 11th and 12th states in which Omaha National offers coverage, following news last year about its expansion of coverage into New Jersey.
USI Insurance Services announced it has entered into a definitive agreement to acquire Nashville-based Findley, Inc. Subject to customary closing conditions, including regulatory approvals, the transaction is expected to close in November 2020.
Zurich Insurance Group selected the top three winners of the Zurich Innovation Championship, a year-long competition for start-ups with innovative ideas that seek to solve some of society’s biggest challenges and provide protection from emerging risks. The Gold winner is ClaimFlo, a processing platform for property and casualty claims developed by New York-based fintech Safekeep. Zurich named two Silver award winners: Pops! Diabetes Care, which offers a new way to test blood sugar levels, and Jupiter Intelligence, whose modeling tool factors in ongoing climate change.
Pioneer Underwriting Holdings, Ltd. and its subsidiaries have been acquired by Russell Coward, who is currently Pioneer’s Head of Risk & Compliance and Company Secretary. This transaction follows the successful deal with K2 to transfer the four ongoing underwriting units and the separate transaction to divest the group’s Guernsey insurance cell that historically provided underwriting support to syndicate 1980.
Independent Insurance Agents of Illinois presented MH Insurance Centre, LLC of Marion, IL., with the IIA of IL Agency of the Year Award during the association’s annual convention, held virtually. The Agency of the Year Award is presented to an IIA of IL member agency that exemplifies leadership and innovation within the industry.
NJM Insurance Group refunded a portion of premiums to policyholders through the NJM Policyholder Relief Program. Commercial auto customers will receive the equivalent of 15% of two months of their annual insurance premium, in recognition of reduced driving related to the pandemic.
Related: Around the P&C insurance industry: October 21, 2020