Around the P&C insurance industry: September 28, 2022
News from Charles Taylor, MarshBerry, Fortified and more.
Charles Taylor rebranded Underwriters Safety & Claims, which will now operate as Charles Taylor TPA. This follows Charles Taylor’s 2021 acquisition of the national third-party administrator, which expanded Charles Taylor’s claims management footprint and enhanced the managed care solutions offered to clients. Full continuity in client services across all lines of business has remained consistent throughout the transition.
Aeolus Capital Management Ltd. and the State University of New York at Albany Department of Atmospheric and Environmental Sciences launched a research collaboration. The hurricane-focused study, led by Dr. Pete Dailey, head of research at Aeolus and a renowned expert in climate catastrophe model development and analytics, will be a quantitative study aiming to better understand the leading indicators of hurricane development and tracking. The research will be specifically looking at the medium-termtime horizon (the period between short-term weather forecasts and climate projections.
Insurance Industry Charitable Foundation hosted its annual Week of Giving, the largest ongoing volunteer initiative in the insurance industry, from October 8-15. IICF Week of Giving celebrates the insurance industry’s commitment throughout the year to volunteerism and supporting those in need through service projects designed to support local communities.
LexisNexis Risk Solutions announced Taylor Bush as its recipient of the Life Lessons Scholarship. Created in 2005 by Life Happens, the Life Lessons Scholarship Program seeks to provide financial scholarships to college students and college-bound high school seniors who have lost a parent or guardian with little or no life insurance.
Liberty Specialty Markets partnered with REIN, developer of the IX platform for embedded products, to provide Sony Electronics with an insurance product to offer drone purchasers and operators an instantly accessible coverage option. Their coverage is tailored to Airpeak S1, the world’s smallest class drone that can be equipped with a full-size mirrorless interchangeable-lens Alpha camera.
MarshBerry launched a new monthly insurance brokerage market report: WayPoint. WayPoint offers a deeper level of insight and guidance to help insurance agencies and brokers drive key business decisions.
Hub International Limited developed HUB Tenant Default Captive Insurance for real estate owners, operators and managers of multi-family properties, commercial space and other housing in the U.S. and available in Canada in 2023. As a landlord-controlled captive program, HUB Tenant Default Captive Insurance eliminates the hassle of security deposits, lowers barriers for prospective tenants to improve occupancy rates and creates an additional revenue stream for property owners by enabling them to retain excess premiums.
Fortified, a collaboration of independent insurance agencies, is coming January 2023. The move unites 54 independent agencies throughout the Southeast U.S., including the states of Alabama, Kentucky, Mississippi, North Carolina, South Carolina and Tennessee.
BlinkSM by CHUBB partnered with SoFi to help SoFi members protect their holistic digital footprint and launched personal cyber insurance. Blink by Chubb offers a suite of Chubb-backed personal insurance products distributed through the company’s digital brokers and affinity partners, such as SoFi. Chubb is the world’s largest publicly traded property and casualty insurance company.
First Tee announced Isabelle Junio as a First Tee Scholar for the Class of 2023, thanks to the support of PURE Insurance. PURE Insurance has served as title sponsor of the PURE Insurance Championship Impacting First Tee since 2017. Since coming on board as title sponsor, PURE has continued to deepen its relationship with First Tee, most recently with their support of First Tee College Scholarship Program through a commitment of $1 million over five years.
Accretive Insurance Solutions announced that Missouri Rural Services Corporation joined the Accretive group of companies. Based in Jefferson City, Missouri, MRSC will remain under the leadership of Alan Clark. This is the fifth acquisition for Accretive in 2022.
WaterStreet launched New WaterStreet Policy Administration Platform, the next generation of P&C policy administration software. The new platform will revolutionize the industry with enhanced speed to market and cost-saving, superior technology that exceeds and surpasses traditional administration software.
TransUnion launched TruValidate Device Risk with Behavioral Analytics. The solution is newly fortified by NeuroID’s behavioral analytics and aims to help businesses stop fraud – not good customers – based on device recognition, context, device and user behavior.
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