Next Insurance is now offering commercial property insurance, which the company notes was the final step necessary to provide full comprehensive coverage via the Next Insurance platform. Bolstering its already existing tools and equipment offering, Next Insurance’s full suite of property coverage now includes business personal property, business income insurance, building insurance and equipment breakdown coverage.
BitGo announced it has surpassed $700 million of total crime/excess specie insurance capacity. In 2020, the company became the first digital asset custodian to offer clients the ability to purchase their own dedicated excess limits above BitGo’s $100 million “all customer” crime/specie policy at pre-agreed rates. Due to strong demand from institutional custody customers, BitGo’s dedicated customer excess specie insurance offering has expanded by over $600 million to emerge as the largest in-force cold storage specie program placed to date, the company claims.
Chubb pledged to sponsor the planting of 33,000 trees in 2021 as part of the American Forests American ReLeaf program. Chubb began supporting the cause in 2008 with the planting of one tree for each new environmental insurance policy written during the previous year, globally. In addition, Chubb is committed to measuring and reducing greenhouse gas emissions from its own operations. From 2016 to 2019, Chubb reduced its absolute global greenhouse gas emissions by 22%.
Baker Tilly U.S., LLP introduced Quantum, a new digital claims calculation platform for the commercial insurance market. This system directly addresses the insurance industry’s need for business interruption claims modernization to accelerate loss calculations, reduce costs and improve customer service, according to the company. The automated, on-demand platform is based on intelligent algorithms leveraging more than 40 years of industry experience and historical loss data from Baker Tilly. The highly personalized solution can reduce claims management costs by up to 30% and deliver loss calculations in as little as one day.
Sigo, a managing general agency providing underserved populations with affordable access to auto insurance, secured a $1.5 million seed round, with participation from Amicle Capital, Bonded Capital Ventures, Demeter Capital, Financial Solutions Lab, Park City Angels, and gANGELS. This funding will allow Sigo to launch an auto insurance product that removes biased rate factors from the underwriting process, the company said in a press release.
Arturo raised $25 million in a Series B funding round led by Atlantic Bridge Capital, with participation from RPS Ventures and existing investors Crosslink Capital and IAG Firemark Ventures. Arturo offers physical property characteristic data and predictive analysis for residential and commercial properties for use in the property & casualty insurance, reinsurance, lending and securities markets.
Skyward Specialty Insurance Group announced that it is ready to quote healthcare professional liability coverage to select producer partners. At launch, underwriting will focus on out-patient medical services centers such as dialysis centers, labs, and physical therapy locations, etc., as well as specialty pharmacies, medical and nursing staffing companies and home health and hospice businesses, with the potential to expand the scope of offerings as the business grows.