Around the P&C insurance industry: October 13, 2021
News from PuroClean, Nationwide, Custard Companies and more.
PuroClean celebrated diversity and inclusion this Hispanic Heritage Month, recognizing the emergence of a new group of outstanding franchise owners within its system. So far in 2021, the company has welcomed about one-third of new franchise owners who are of Hispanic or Latino descent. Additionally, PuroClean’s top honors were awarded to Hispanic franchise owners at the PuroClean Annual International Convention earlier this year. Husband-and-wife team Ivan and Karina Oliver from PuroClean of San Antonio Northwest were awarded Franchise of the Year, multi-unit owners, while David Shiffman and Ricardo Herdan earned top honors with Hot Shot awards. Additionally, the first PuroClean Cares Award was given to Nelson Rivera.
Kovrr has launched CRIMZON, formerly CRA-Zones, the cyber risk modeling company’s framework for comparing and managing accumulations of systemic cyber risk. The framework expands reinsurance applications beyond identifying risk accumulation to include cyberthreats assessments and deeper risk management and monitoring, trend analysis and event response.
Million Women Mentors’ Women in Insurance Initiative launched its second data collection effort, Driving Change for Women in Insurance — Data Insights 2021. The initiative organizers are calling for industry-wide participation in Driving Change 2021, a unique and important effort to share fact-based information on employee demographics, diversity, equity & inclusion programs, gender parity initiatives and opportunities for women of color.
Nationwide offered its Coverage Assistant tool to eligible Business Prime members, who will be able to take an assessment online, complete an online quote and then connect with an agent to receive an exclusive discount. The pilot will run through December 2021 and is part of Nationwide’s efforts to help small businesses make sure they have the level of insurance protection they need.
Custard Companies acquired Specialty Group, Inc., a Florida-based field, SIU and TPA claim company. For nearly 60 years, and with over 250 adjuster locations throughout the U.S., Custard Insurance Adjusters, Inc. (CIA) focuses on emergency response and general services to the transportation industry. As a multiline provider, CIA continues to expand its general service offerings, most recently in the property claims adjustment area, and through its newly created TPA entity, Riverwood Claims Management, Inc.
Rubicon M&A Insurance Services, LLC is now a member of The Liberty Company Network of Insurance Brokers. Rubicon M&A, led by its founder Patrick Stroth, ARM, is a trusted authority in executive liability for over 30 years. Patrick brings his experience and knowledge to lead Liberty’s new transactional liability practice.
Verisk enhanced its insurance-specific legal dashboard, CourtSide, with a Verdict Database, which provides aggregate verdict information by jurisdiction and insurance topic to support insurers’ daily decision making and strategic planning.
Insurity acquired Maprisk, which provides geospatial data and analytics software to enable underwriting automation and allows property and casualty carriers and MGAs to plan and proactively respond to natural disasters. With the addition of Maprisk to the Insurity suite, P&C carriers and MGAs writing personal and commercial lines can seamlessly integrate geospatial data and analytics across the full policy lifecycle, from quoting and underwriting to claims. The acquisition of Maprisk builds on Insurity’s prior acquisition of SpatialKey, the market leader in geospatial solutions with the largest open network of specialty and hazard data providers, in December 2019.
NIP Group collaborated with AmTrust Financial Services to launch a tree care workers’ compensation program, providing additional coverage to its tree care insurance program, TreePro.
USI Insurance Services acquired Daul Insurance. Founded in 1960, Daul Insurance is an independent risk management and employee benefits agency serving businesses and individuals in Louisiana. Terms of the transaction were not disclosed.
PEAK6 InsurTech, acquired We Insure, a rapidly growing independent insurance franchise company. The acquisition will build on PEAK6’s acquisition of National Flood Services in 2018 and pending acquisition of Team Focus.
H.W. Kaufman Group and Burns & Wilcox donated $103,475 to benefit local community food banks, food distribution centers and hunger-relief charities throughout the United States and Canada. The donation is a result of its associate-driven initiative Harvesting Hope Against Hunger.
Valley Insurance Agency Alliance announced the national recognition of Bailey Family Insurance, which won Agency of the Year from the Independent Insurance Agents of Illinois, a trade association representing 1,100 insurance agencies and 10,000 agency personnel throughout the state.
At-Bay collaborated with Microsoft to strengthen the cybersecurity posture of their customers as attacks become increasingly prevalent. In order to encourage stronger security, customers can now save up to 15% on their At-Bay cyber insurance premium by utilizing Microsoft 365’s built-in security controls and comprehensive security services, while managing cyber risk with At-Bay’s free active risk monitoring.