Around the P&C insurance industry: June 15, 2022
News from Keystone Agency Partners, MarshBerry, IQUW and more.
Keystone Agency Partners partnered with Keyes Coverage, an independent insurance agency serving the personal and commercial insurances needs of customers in Florida. Financial terms of the majority stake transaction were not disclosed.
California Insurance Wholesalers Association announced an arrangement to bring CIWA members and affiliates of the Western States Surplus Lines Conference together for an exclusive, annual summer event. The Summer Forum 2022 will take place in Monterey, California, June 26-29. This longstanding member summit will include CIWA members and national surplus lines associations’ directors and board members.
MarshBerry and Wealth Management industries, congratulates Clark Insurance, headquartered in Portland, Maine, on its successful sales transaction to the MarshMcLennan Agency that closed on June 1, 2022.
IQUW launched a new crisis management insurance class to help businesses anticipate, prevent, respond to and recover from a wide variety of risks. The new global crisis management portfolio will be led by experienced specialty underwriter Jon Atkinson. The roll-out of the new product offering is part of IQUW’s growth and development strategy for its specialty lines.
Lemonade launched Lemonade Car in Ohio. The Buckeye state marks the third state to feature availability of Lemonade’s newest environment-friendly product. With an increasing presence of electric vehicle infrastructure and growing startup culture, Ohioans are no stranger to new tech. Lemonade Car not only brings a fresh, tech-first approach to car insurance with telematics, but also introduces a new type of product that focuses on incentivizing drivers with the environment in mind. Lemonade also created a guide for drivers to help navigate the nuances of car insurance in the state of Ohio, which can be found here.
Builders & Tradesmen’s Insurance Services, Inc. launched a home-based business coverage – available nationwide and underwritten by specialty insurer RLI. RLI’s Home Business Insurance protects home-based small businesses from general liability exposures and safeguards their equipment, furniture, fixtures and inventory while they are working at home and offsite. Adequate protection for these risks is not typically provided through standard homeowners’ insurance policies.
Coterie Insurance announced the expansion of its small business insurance products into New York State. The company is committed to providing a superior New York small business insurance experience to insure the 2.2 million business owners in the Empire State. With the addition of New York, Coterie insurance products are now available to agents and brokers helping small businesses obtain insurance across the entire nation and the District of Columbia.
Alterity Group acquired Hager Strategic, Inc. Hager Strategic principals Mike Hager and Faisal Saleh are joining Alterity and will report to Sharla St. Rose, managing director, Alterity. The transaction closed on May 6, 2022.
Duck Creek Technologies partnered with ODG by MCG, a leader in evidence-based guidelines and claims analytics serving the worker’s compensation, disability and auto bodily injury space. This partnership will allow carriers to make educated decisions about the claims handling process while they aim to understand the expected cost and duration of an injury for an injured worker.
CSAA Insurance Group launched CSAA Specialized Services, which offers claims handling, training and call center support. What started as an idea from an employee innovation challenge evolved into a new business that’s firmly rooted in the AAA insurer’s legacy of community service and deep expertise in customer support. When faced with the challenges of the COVID-19 pandemic, CSAA Insurance Group began working with numerous local and state governments to help them respond to the pandemic.
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