Around the P&C insurance industry: February 17, 2021

Chubb launched its next generation of crime insurance offering, The Chubb PrimarySM Commercial Crime Insurance, to help companies of all sizes and industries protect themselves from criminal activity both inside and outside their organizations. The Association of Certified Examiners in its 2020 Report to the Nations finds that occupational fraud caused organizations to lose more than $3.6 billion globally from 2018-2019. Additionally, the FBI’s Internet Crime Complaint Center in its 2019 Internet Crime Report reported it received 23,775 business email compromise complaints, resulting in $1.7 billion in losses.

SafeHerb introduced a commercial insurance product that will provide a full suite of insurance protection for the cannabis and hemp industries. SafeHerb’s Cannabis & Hemp Insurance provides “seed to sale” coverage, in-house loss control services and claims are handled by Avant Specialty Claims. The SafeHerb coverage includes:

• General Liability
• Product Liability
• Property
• Equipment Breakdown
• Indoor Crop loss or damage
• Cargo

CSAA Insurance Group launched its Green Repair Network to recognized auto repair facilities that are committed to reducing their impact on the environment. Thirty-three auto repair facilities in California will be officially certified in the Green Repair Network by meeting or exceeding the program requirements, which include strict standards around emissions, pollutants, water and electricity usage, and the disposal of hazardous waste. This elite group of independent auto repair facilities is dedicated to reducing its overall impact on the environment to help improve the health and safety of their customers, communities and employees.

QBE North America announced its QBE Custom PropertySM product, offering state-of-the-art coverage based on feedback from brokers and customers as well as a comprehensive market analysis supported by artificial intelligence. QBE Custom Property is initially available in 29 states for new business policies effective March 1 and renewal policies effective April 1. QBE plans to expand the product to all 50 states, subject to regulatory approvals.

Berkshire Hathaway GUARD Insurance Companies expanded the list of states where the company offers its lawyers professional liability product to include Colorado, Kentucky and Nebraska. Berkshire Hathaway GUARD’s Professional Liability product aims to meet the needs of many different professions. Policyholders are offered a variety of complimentary services including online training videos, a risk-management helpline and website for lawyers, and 24/7 self-service features via an online service center and mobile app.

USI Insurance Services acquired Spokane, Washington-based Inland Insurance, Inc. Founded in 2006, Inland Insurance is an independent risk management and employee benefits agency serving businesses and individuals throughout eastern Washington. Terms of the transaction were not disclosed.

Lightico launched its Instant Consent on Terms and Conditions solution, which replaces tedious and inaccurate reading of T&Cs with digital clickwrap. Agents simply send the customer a text message, which opens a secure room containing mobile-friendly terms to approve. Customers can then easily review and accept the terms and conditions on their cell phones with a single click in real-time and without the need for the agent to read out lengthy scripts.

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