Coalition partnered with Vantage to back its U.S. excess cyber program through its Vantage Risk Specialty Insurance Company. Coalition’s run rate GWP has grown to exceed $650 million as the company achieves high growth at scale. Coalition’s year-over-year revenue grew by more than 400% in 2021 as the company scaled to serve 140,000+ customers. Coalition’s Active Cyber and Active Executive Risk products combine insurance coverage with technology to help organizations assess, protect and respond to digital risk.
Rugby Canada partnered with NFP. NFP becomes the official insurance partner and the official team partner of the Women’s 15s Senior Program. NFP and Rugby Canada will also collaborate on a program to provide girls across Canada with opportunities to get involved in the sport and engage with Rugby Canada teams.
Draftrs launched a new digital insurance platform that enabled instant underwriting and policy management for small firm professionals and agents. In conjunction with the new platform, Draftrs is launching a new professional liability insurance product for architects and engineers that was developed in collaboration with Markel Insurtech Underwriters and plans to introduce additional professional liability product lines in the future.
Keystone Agency Partners partnered with Guy Hurley Insurance & Surety Services, an independent insurance agency providing insurance and surety services. Financial terms of the majority stake transaction were not disclosed.
Swiss Re Corporate Solutions streamlined the legal entity structure of its North American business and established Swiss Re Corporate Solutions America Insurance Corporation as its North American flagship insurance carrier. The regional legal entity changes will reduce complexity, enable Corporate Solutions’ strategic growth and improve financial efficiency. This streamlining follows the Swiss Re Group’s announcement on September 25, 2020 to reorganize the legal entity structure of Corporate Solutions.
QBE North America launched a Specialty Casualty business as part of its strategy to invest in areas where the insurer can offer distinct advantages to business customers. QBE Specialty Casualty’s offering will include admitted and non-admitted primary, lead umbrella and excess liability products, targeting a wide range of business segments across a diverse set of industries.
Arbella Insurance, through a partnership with Isenberg School of Management, UMass Amherst, connected with current college freshman and sophomores — years before they even graduate — to help create a steady stream of candidates for the industry. Insurance companies were facing a talent shortage well before the Great Resignation — seeing close to half-a-million openings pre-pandemic. The U.S. Bureau of Labor Statistics says jobs in the space will grow 7% thru 2030 — with 50,400 openings projected each year.
Main Street America Insurance launched a new Farm and Ranch product that provides a full suite of coverages for farms and ranches. The product is being rolled out in phases throughout the year and into 2023. Main Street America’s Farm and Ranch insurance provides a wide range of coverages that include rural homeowners, hobby farms, small to mid-sized farms, large farms and more complex farming operations. The product provides coverage for most exposure types, including row crops, cattle, equine, hay, produce and more.
BXS Insurance announced the organization will undergo a rebrand to Cadence Insurance in July 2022. The change is subject to regulatory approval and follows the merger of Cadence Bancorporation into BancorpSouth Bank, with BancorpSouth as the surviving company, in October 2021. BancorpSouth adopted the Cadence Bank name and its stock trades on the New York Stock Exchange under the symbol CADE.
Betterview and RedZone, the insurance industry’s provider of the most accurate, advanced intelligence on wildfires and other natural disasters, are pleased to announced a new partnership and the addition of RedZone to Betterview’s PartnerHub. With the company’s datasets already available to Betterview clients through PartnerHub, RedZone is excited to see the innovative use cases which are sure to come from this partnership.
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