Around the P&C insurance industry: August 9, 2023
Insurance industry news from MarshBerry, NEXT Insurance, FloodFlash and more.
MarshBerry congratulated The Graham Company, an insurance and employee benefits broker that partnered with business owners in high-risk industries including construction, manufacturing, distribution, chemical, health and human services and others, on their sale to Marsh & McLennan Agency, LLC. MarshBerry served as the exclusive financial advisor to The Graham Company on the transaction which closed on August 1, 2023.
Philip Mulder, Ph.D. received the American Academy of Actuaries’ inaugural Award for Research this fall for his research paper, “Mismeasuring Risk: The Welfare Effects of Climate Risk Information,” Academy Director of Research (Public Policy) Steve Jackson announced at an Aug. 1 evening event at the Actuarial Research Conference hosted this year by Drake University.
RIMS announced that more than 1,000 risk management professionals have turned to RIMS-Certified Risk Management Professional certification to meet growing risk management expectations. As the only accredited risk management certification in the world, the RIMS-CRMP certification empowers professionals to build stronger, more resilient risk programs while gaining critical support from leadership and advancing in their careers.
NEXT Insurance launched commercial umbrella/excess liability in 41 states, and the expansion of liquor liability coverage in 7 additional states. Commercial umbrella/excess liability insurance includes the same coverage, conditions and exclusions as its underlying general liability policy, and provides coverage when that policy’s per-occurrence or aggregate limits are exhausted. This expansion will be launched on a direct and agents channel, furthering NEXT’s commitment to customers while providing the best possible experience for agents.
National Association of Insurance and Financial Advisors’ - Apex East conference will take place October 24, 2023. It is a pure-play sales summit that brings together high-performing producers and their colleagues in the financial services industry, including professionals in the fields of estate planning law, accounting, financial technology, performance coaching, wellness, and others.
National Association of Insurance and Financial Advisors – New York announced the highly anticipated State Conference on September 20, 2023, in Bryant Park in New York City. This premier event will bring together insurance and financial professionals from across the state for a day of learning, networking and inspiration.
Bees360 and Fixle, a technology solution that simplifies home management and major appliance inspection, partnered to enhance data capture, tracking and management for interior property inspections.
FloodFlash partnered with Hiscox. Hiscox is already an active participant in the U.S. flood insurance market, and as a capacity provider for FloodFlash will support the market appetite for parametric as an efficient option for catastrophe covers. They join Munich Re, whose parametric expertise Hiscox will complement with market-leading knowledge of launching successful flood products in the U.S.
BrokerTech Ventures announced the 3rd year of a strategic collaboration with InsureTech Connect, the world’s largest gathering of insurance innovation conference and convening platform. BTV will once again fuel ITC’s BrokerTech Connect, an insurtech series during the conference for the broker-centric community, on Tuesday, October 31, at Mandalay Bay in Las Vegas, Nevada.
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