Around the P&C insurance industry: April 21, 2021
News from MEMIC Group, Sequel Business Solutions, Semsee and more.
MEMIC Group is now accepting applications for its Harvey Picker Horizon Scholarship Program for children and spouses of workers who have been seriously injured on the job. MEMIC has awarded $210,000 in scholarships since 2001.
Great American Alternative Markets announced its newest national program, effective March 1, 2021, offered in conjunction with Heritage Insurance Services, located in Feasterville, Penn. The 30-year program focuses on coverages for fine musical instruments throughout the U.S. and currently supports more than 10,000 clients.
Sequel Business Solutions and ACORD started a joint initiative to create expanded data standards to benefit the London market and the global insurance ecosystem. These standards, which will enable a variety of business activities, including placing, underwriting and distribution, will be based on assets donated by Sequel to the industry through ACORD, the global insurance standards-setting body.
The National Association of Insurance Commissioners launched its Home Inventory App. The NAIC Home Inventory app makes it easy for consumers to create and protect a record of their belongings and offers tips on disaster preparation and filing claims. The NAIC app has the ability to:
- group belongings by category;
- scan barcodes for accuracy;
- upload and export photos with ease;
- find disaster preparation advice, and
- review information about filing insurance claims.
Insurance Industry Charitable Foundation announced that nominations remain open for the 2021 IICF Inclusion Champion Awards. This prestigious award recognizes insurance industry professionals who have championed diversity and inclusion in their workplace. Winners will be honored at IICF’s International Inclusion in Insurance Forum (June 15 – 17), a virtual event gathering insurance industry professionals, C-suite executives and D&I leaders for sessions dedicated to advancing ideas into action on diversity, inclusion and innovation.
Semsee added general liability insurance to its platform. Using Semsee, agents can quote general liability, as well as business owners’ policies, commercial auto, cyber and workers’ compensation insurance, providing a fast, seamless insurance buying experience for their business customers.
Pennsylvania Lumbermens Mutual Insurance Company announced its President and CEO John Smith has been named the recipient of the 2020/2021 Franklin Award by the Philadelphia CPCU Society Chapter. The Franklin Award is given to an individual, group or organization with significant achievements and contributions within the Delaware Valley region and the property and casualty insurance community as a whole. The award was recently presented at the virtual 2021 Philly I-Day.
New York Alliance Against Insurance Fraud (NYAAIF), which includes Munich Re, Liberty Mutual, CSAA and many others, are getting behind an initiative with iHeartMedia to support live music venues that have been hit hard by the pandemic. Lockdowns have devastated these businesses, and NYAAIF is concerned that struggling owners may turn to property destruction, arson and insurance fraud to escape financial pressures. To that end, the insurance group and iHeartMedia hosted a Back Stage Pass virtual event celebrating the 50th anniversary of the rock band Wings on Sat., Apr. 17, 2021. A portion of the proceeds will benefit the National Independent Venue Association.
The National Association of Mutual Insurance Companies urged the Federal Energy Regulatory Commission to focus on mitigation and preventive measures as it examines threats to the reliability of the nation’s electrical system and to include representatives from the insurance industry as well as state insurance regulators in future discussions.