Around the P&C insurance industry: April 12, 2023
Inurance industry news from Munich Re, Alera Group, Verisk and more.
Munich Re Specialty Insurance expanded its E&S lawyers professional liability solution to include primary and excess coverage for firms with 11 or more attorneys, as well as firms with an intellectual property practice.
Kin has secured $100 million in capacity through its second multi-year catastrophe bond issuance. This is a significant milestone for the company and represents a major step forward in its efforts to revolutionize the insurance industry.
Kin Insurance has expanded into Mississippi, offering affordable and personalized home insurance for Magnolia State residents.
ATI Restoration, LLC partnered with with Carolina Restoration Services. Financial terms of the transaction were not disclosed.
QBE announced the application window for the QBE AcceliCITY Resilience Challenge is now open. Applications will be accepted through April 30 at AcceliCITY.com. Now in its fifth year with Govtech accelerator partner Leading Cities, the QBE AcceliCITY Resilience Challenge is open to entrepreneurs whose ventures utilize smart-city solutions to address risk, equity and sustainability in urban environments.
Alera Group acquired Wilson, Washburn & Forster Insurance, a full service property and casualty insurance agency based in Miami, Florida.
Coalition introduced CoalitionAI, a new initiative to deploy generative AI and large language models to help brokers and businesses protect themselves from cyber risk. U.S.-based brokers and businesses can now access new AI-powered education and chat features, including CoalitionAI Broker Copilot and CoalitionAI Security Copilot.
Verisk announced that insurers can transform the complex process of developing new commercial lines products with the power and convenience of a new rating engine. Instead of investing extensive time and resources into gathering, evaluating and installing rating updates, the new, cloud-based rating engine, known as Rating-as-a-Service, offers a streamlined process.
The Hartford donated $3.5 million over three years to Move United to increase access to and participation in adaptive sports.
Oakbridge Insurance Agency LLC partnered with Hunnicutt Insurance, a personal and commercial property and casualty insurance agency in Fort Walton Beach, Florida. The partnership supports Oakbridge’s continued growth in the Southeast by expanding into Florida.
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