Insurance industry news from SafePort Insurance Company, Sedgwick, ICEYE and more. (Photo: Shutterstock)
SafePort Insurance Company and SageSure partnered to successfully close on the placement of a $125 million Rule 144A catastrophe bond. The bond closed at a 25% upsize from the initial $100 million transaction target, with pricing at the bottom end of initial guidance.
Sedgwick launched Sidekick, an industry-first integration using Microsoft's OpenAI tools and services to give claims professionals an advantage in their daily work. Designed for internal use within the company's secure Azure environment, Sidekick will allow Sedgwick colleagues to explore the impact of generative artificial intelligence performance and natural language processing on day-to-day tasks.
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