Around the P&C insurance industry: February 9, 2022
News from Berkley Select, McLarens, Zurich North America and more.
Berkley Select is celebrating its milestone 30-year anniversary in 2022. Berkley Select began operations in June 1992 as Monitor Liability Managers with just a few employees offering directors’ and officers’ liability insurance. Since then, the business has grown to over 100 employees while servicing partners nationwide from its home office in Chicago. Today, Berkley Select offers a full suite of executive and professional liability insurance coverages including employment practices liability, directors’ and officers’ liability, lawyers’ and accountants’ professional liability and affinity programs.
Technical Risk Underwriters announced that it has secured $100 million of wood frame builder’s risk capacity, effective January 1, 2022. This newly secured wood frame capacity is offered in addition to TRU’s $150 million of construction builder’s risk capacity and $100 million of critical flood, earthquake and / or named windstorm capacity.
McLarens opened a new office in Madrid, Spain. In addition to expanding its European footprint and handling losses in Spain for McLarens’ global client base, the office will serve Spanish and global clients with interests in Latin America and internationally.
Risk Placement Services launched a new management liability product with carrier partner Fortegra Specialty Insurance Company. Available to quote-bind-issue online in just two minutes through RPS’s Small Business Platform, Management Liability combines Employment Practices, Directors and Officers and Fiduciary liability coverages in a single policy.
Spixii and Socotra partnered to enable insurers to easily integrate best-in-class Spixii Conversational Process Automation with Socotra’s modern core platform. Combining the unique capabilities of both Socotra and Spixii into a complete and robust solution, insurers can efficiently serve their customers online through conversational experiences that seamlessly connect policyholder data to advanced core functionality.
Zurich North America has kicked off a multifaceted celebration that looks back on a century’s worth of milestones with a keen lens focused on the future. Launched in 1922 as Universal Underwriters in Kansas City, Missouri, the company began by providing fire insurance to 85 auto dealers. Universal Underwriters was acquired by Zurich in 1981, and today Zurich is one of the nation’s leading providers of Property and Casualty insurance and Finance and Insurance (F&I) solutions for auto dealers.
Hub International Limited acquired the assets of AVI Commercial Insurance Marketing, Inc. Terms of the transaction were not disclosed.
Related: