Around the P&C insurance industry: November 9, 2022
Insurance industry news from NFP, Everest Re Group, Alterity Group and more.
NFP partnered with Petline Insurance Company, a leader in the pet insurance market. Through this partnership, NFP can offer its Canadian customers Petsecure pet health insurance. NFP’s new pet insurance offering complements its array of specialty insurance products that include motorcycle, equine, collector car, boat, recreational vehicle, snowmobile, travel and DigitalShield cyber protection.
Everest Re Group unveiled a refreshed brand, including a new logo and visual identity reflecting its positioning and commitment to underwrite opportunity for colleagues, customers, shareholders and communities worldwide.
Alera Group Wealth Services acquired Benson Blackburn, a Naples, Florida-based specialized insurance consultancy with a focus on ultra-affluent families and closely held businesses. The acquisition continues Alera Group Wealth Services’ strategic effort to expand by finding firms serving well-defined niches and embracing a wide range of advisor business models.
Alterity Group acquired CIC Group, a Buffalo, New York-based boutique commercial insurance consultancy serving clients across the country. CIC Group principals Timothy McMullen, Gina Teresi and Chris O’Donnell will join Alterity and report to Sharla St. Rose, managing director, Alterity. The transaction closed on August 19, 2022.
Corvus Insurance partnered with The Travelers Companies, Inc., personal, business and specialty insurance, to back its Smart Cyber Insurance offering. This robust new offering will focus primarily on Germany and Austria, providing brokers and policyholders with localized and unmatched cyber insurance tools, along with the combined cyber underwriting expertise of both Corvus and Travelers.
QBE AcceliCITY Resilience Challenge, hosted by Leading Cities partnered with QBE North America, concluded with the City Solution of the Year award and grand prize winnings of $100,000 presented to Automedi. Automedi is the world’s first decentralized circular microeconomy converting plastic waste into community products at the actual point of use. By capturing waste when it is discarded and turning it into functional products, Automedi is committed to shaping new standards of care through health science innovation and paving the way to a more sustainable future.
Selman Breitman LLP will wind down effective January 1, 2023, and the firm’s insurance practice group will continue as a new firm named Selman, Leichenger, Edson, Hsu, Newman & Moore LLP. With offices in Los Angeles, San Francisco, San Diego, Seattle and Arizona, the firm will continue to handle insurance coverage matters for the insurance industry nationwide. The new firm will continue to use the “Selman Law” branding.
AXA XL added Cyber Suite, a cyber and security insurance coverage as an option to its lawyers’ errors and omissions insurance program. Available under AXA XL’s lawyers’ professional liability policy, Cyber Suite helps law firms impacted by a data breach or other cybercrime.
Satellite Agency Network Group, Inc., the largest alliance of independent insurance agencies in the Northeast, recently announced the addition of Woodland Insurance Agency, Inc. of Hanson, Massachusetts to the network. Woodland Insurance is an independently owned full-service insurance agency specializing in home, auto, flood and commercial lines.
Apollo partnered with Envelop Risk, who will underwrite a new class of cyber reinsurance business within Apollo Syndicate 1971, with effect from the 2023 year of account. This new strategic partnership comes as Apollo continues to grow its diverse reinsurance offering, which ranges from traditional and specialty lines to innovative sharing economy solutions. It also illustrates Apollo’s commitment to building long-term partnerships with entrepreneurial and ambitious businesses seeking access to Lloyd’s via Apollo’s flexible and bespoke managing agency services.
Coalition announced newly available application programming interfaces for management liability through executive risks insurance. These APIs will enable more agencies to embed Coalition into their platform of choice for more efficient quoting and an easier path to bind coverage. Coalition APIs are available today for Coalition’s United States directors & officers insurance and employment practice liability.
Convelo Insurance Group launched its new management liability insurance program with Fortegra, a leading carrier with more than 40 years of experience in risk management and insurance. The program will provide management liability coverage for nonprofits.
Related: