Around the P&C insurance industry: February 10, 2021

CRC Group acquired the assets of Washington D.C.-based Federal Employee Defense Services, a respected niche MGU specializing in professional liability coverage for federal government employees and contractors.

RIMS successfully met all ANSI requirements to offer the RIMS-CRMP certification exam virtually. The exam will be offered through Pearson Vue’s OnVUE platform, opening the door for qualifying risk professionals to earn this globally recognized certification from their home or office anywhere in the world.

Big “I” presented William “Bill” E. Harrison Jr., chairman of the Big “I” Reinsurance Company, with the Woodworth Memorial Award during its virtual board of directors meeting on Jan. 28. The Woodworth Memorial Award recognizes individuals who serve the insurance industry and the Big “I” with uncommon dedication and is the association’s highest honor.

National Association of Insurance Commissioners  (NAIC) demonstrated its commitment to advance diversity and inclusion efforts by sharing its internal Diversity, Equity, and Inclusion framework. The NAIC’s employees and leadership developed this framework collaboratively to drive change, promote accountability in its workplace and offer the insurance sector a model to build similar programs.

Career General Agency LLC launched its managing general underwriter (MGU) program with its newly developed CGA Energy Division. CGA Insurance Services positioned the MGU energy program to grow significantly in 2021 by establishing a talented team of risk engineering and underwriting professionals.

Colonial Claims LLC, the independent insurance claims service company, acquired Tampa area business Premier Adjusting and Catastrophe Services, Inc., a full-service first- and third-party claims handler for residential and commercial losses. The move strengthens Colonial’s daily claims business, introducing appraisal and TPA services to its growing lines of business, while giving Premier access to additional resources to support its growth, including Colonial’s robust in-house adjuster training center.

Applied Underwriters acquired Concept Special Risks, a U.K.-based international MGA providing coverage for an extensive variety of nautical vessels and operators across the globe. Based in Yorkshire, U.K., since its founding in 1999 by Tony Usher, Concept Special Risks is a licensed cover holder at Lloyd’s and holds a dominant market position in the U.S. and Caribbean markets for motor yachts, trailer craft, sailboats and catamarans covering both private/pleasure and charter.

Applied Underwriters acquired Centauri Specialty Insurance Company and Centauri National Insurance Company. The Centauri companies are based in Sarasota, Fla., and serve independent agents and brokers in 10 states: Alabama, Florida, Hawaii, Louisiana, Massachusetts, Mississippi, North Carolina, Oklahoma, South Carolina and Texas. The Centauri companies also offer private flood insurance in Florida, Hawaii, and South Carolina. Regulatory approvals were required in Florida, Louisiana, and Texas.

LexisNexis Risk Solutions, provider of data, advanced analytics and technology for the insurance industry, launched LexisNexis^® Rooftop, a next-generation risk assessment tool for home insurance carriers that includes data from aerial imagery, weather, location and a complete claims history view across personal coverages. LexisNexis Rooftop delivers roof-related insights at the quote, bind and renewal stages, enabling insurers to make informed underwriting and policy pricing decisions.

Fiesta Insurance acquired La Familia Agency, LLC. With this transaction, Fiesta Insurance expands its footprint in the state of Texas, and within corporately owned storefront locations.  LFAI, based in Dallas, is a profitable and growing independent insurance agency chain distributing insurance and other services across 67 locations. LFAI will maintain the La Familia Auto Insurance name and company-owned storefront business model.

Trusted Choice presented Black Hills Insurance in Rapid City, S.D., with the 2020 Dan Fulwider Award for Community Service at the Big “I” virtual board of directors meeting on Jan. 29. The Dan Fulwider Award for Community Service is named in memory of Dan Fulwider, an avid philanthropist and former government affairs coordinator and membership liaison for the Independent Insurance Agents of Iowa. The award recognizes the Big “I” member who has gone above and beyond the call of service to truly make a lasting difference in their community over the past year.

Seek Now, Inc., a technology-enabled inspection platform and services provider to the property & casualty Insurance industry, announced that it has received a significant minority investment from Susquehanna Growth Equity, LLC, an entrepreneur-centric growth equity firm exclusively focused on internet, software and information services companies. The financial terms of the investment were not disclosed. This represents Seek Now’s first outside institutional capital investment, and furthers the company’s mission to virtualize the claims adjustment model through reducing the nation’s top carriers’ claim cycle time and providing exemplary customer service through its data-driven, technology-enabled offering.

Sontiq announced the signing of a definitive agreement to acquired Cyberscout, a pioneer of best-of-breed cyber products and services tailored for the insurance industry. By acquiring Cyberscout, Sontiq will further build upon its world-class product platform and expand into the insurance industry with cyber solutions and forensic investigation products and services. With Cyberscout, and Sontiq’s IdentityForce and EZShield, an ever-growing community of institutions, households and individuals benefit from best-in-class products and services that define the identity theft and cyber fraud protection market.

Selective‘s College Competition kicked off across eight colleges throughout the country and will run through February. The annual contest provides the opportunity for teams of students to gain valuable insurance career-building experience and networking opportunities with the guidance and mentorship of industry experts from Selective and independent insurance agencies. Teams of students from the following schools are participating in Selective’s College Competition:

• Appalachian State University
• Ball State University
• Illinois State University
• Indiana State University
• Middle Tennessee State University
• St. Joseph’s University
• Temple University
• University of North Carolina, Charlotte

CCC Information Services Inc. and Dragoneer Growth Opportunities Corp. announced a definitive merger agreement has been entered into between Dragoneer and CCC’s parent holding company. Upon closing of the transaction, the combined company is expected to be renamed CCC Intelligent Solutions Holdings Inc. and is expected to be listed on the New York Stock Exchange.

AM Best selected students from St. John’s University and the University of Wisconsin-Madison as finalists for its 2021 Student Challenge competition, which tasked risk management and insurance students with creating innovative solutions for catastrophe risks. The three finalists will present their risk solutions at the 28th Review & Preview Conference on March 15-17. Conference attendees will vote for the winner.

NFP, an insurance broker and consultancy, acquired Colburn Risk Holdings LLC. The transaction closed on December 31, 2020. ColburnColburn, a P&C broker with offices in Bloomfield Hills, Mich, and Detroit, provides commercial insurance, risk management, personal insurance and claims advocacy to businesses across Michigan and throughout the U.S. With more than 70 years of combined experience, ColburnColburn expands NFP’s presence in the region and enhances existing capabilities.

Related: Around the P&C insurance industry: February 3, 2021