Around the P&C insurance industry: December 7, 2022
Insurance industry news from Nationwide, EFI Global , Understory Inc. and more.
Nationwide and Adopt a Pet partnered to save and improve the lives of companion animals. A new partnership between the country’s leading pet insurer and one of North America’s largest pet adoption websites focuses on educating new pet parents and potential adopters about the role that pet health insurance can play in managing the lifetime costs associated with pet ownership.
The Big “I” announced it will hold its inaugural Big “I” InsurTech Summit on January 20, 2023, in Savannah, Georgia, as part of the Big “I” Winter Meeting which runs January 18-21. The 90-minute InsurTech Summit will feature two panels of groundbreaking insurtechs, forward-thinking agents and other digital thought leaders in the independent agency space. It will be the first in a series of events held throughout the year to encourage independent agents and brokers to learn about and embrace the game-changing insurtech that is increasingly available to them.
Ahoy! partnered with the Madison Independent Agency Network, the network for independent agents. MIAN will not only provide Ahoy! policies to its large network of independent agents, but also work with Ahoy! to address the needs of unique customer segments served by MIAN.
Climate School announced a new training module specifically designed to aid risk managers get up to speed with pressing climate danger. The course, Act-Risk Management, created in partnership with leading global risk consulting firm Arengi, comes after months of floods, drought, wildfires, hurricanes and extreme weather events across the globe have promoted rising fears about climate change’s impact on business.
EFI Global announced that structural and civil engineering design services firm Davis Patrikios Criswell joined its operations. Co-founding principals Marshal Davis, Gerry Patrikios and Eric Criswell and their team are set to bring their more than 75 years of combined experience and a unique approach to structural design and investigation to the company’s daily operations.
Scott Insurance partnered with Assurex Global effective November 15, 2022. The addition of Scott Insurance is part of Assurex Global’s ongoing strategy to add multiple partner firms in 2022 as it continues to grow and enhance its offerings. Partner firms must meet stringent selection standards, so clients know they are working with the best when choosing an Assurex Global Partner.
Insurance Industry Charitable Foundation raised nearly $1.3 million at their 16th Annual Northeast Benefit Event on December 10, 2022, at Cipriani 42nd Street in New York City. This charitable gala gathered professionals from across the insurance industry for a night dedicated to celebrating the industry’s philanthropic efforts, while raising funds for nonprofit grantees across the region.
Combined Insurance Company of America opened a new regional office in Columbia, South Carolina. Combined’s new regional office is located in 13,000 square feet on the 23rd floor of the Capitol Center, South Carolina’s tallest building and more commonly called the Truist Building. The open floor plan provides an outstanding setting in which to host broker and customer meetings.
Understory Inc. and Skyward Specialty Insurance Group Inc. partnered to launch a new insurance solution to help U.S. automotive dealerships control the rising cost and instability of dealership inventory coverage, or dealers open lot.
SURE partnered with SageSure to write excess and surplus lines property insurance in Florida. SageSure, provider of catastrophe-exposed property insurance, SURE brings much-needed underwriting capacity to producers in the state to better serve Florida homeowners. In 2022, six property insurance carriers in Florida have declared insolvency. Many others have chosen to suspend business or leave the state altogether.
Kian Capital Partners partnered with Sdii Global Corporation, a forensic engineering and earth sciences firm specializing in claim resolution support for the property and casualty insurance industry. Kian’s approach of working alongside management to execute growth strategies will enable Sdii Global to scale its platform and solidify its leadership position in the market by furthering the company’s industry-leading, niche expertise and market expansion vertically and geographically. Kian first invested in Sdii Global in 2016 to support management’s purchase of the business from the company’s founder.
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