Around the P&C insurance industry: October 25, 2023
Insurance industry news from Nationwide, Shippo,IPC and more.
Nationwide E&S/Specialty launched a new specialty division focused on global credit and political risk and hired Lillian Labbat to lead this new business line under Nationwide’s specialty umbrella. Labbat will report to Tom Iorio who directs the management liability and specialty business line.
Risk Strategies and One80 Intermediaries announced an internal reorganization to operate under the newly introduced Accession Risk Management Group parent brand. Accession Risk Management Group will represent the family of specialty insurance distribution and risk management companies, operating under common ownership of their private equity sponsor, Kelso & Company, which currently includes Risk Strategies, a retail specialty brokerage and risk management company, and One80 Intermediaries, a specialty wholesale brokerage and program management firm.
York International, LLC, which joined IMA Financial Group in 2022, announced that it has rebranded. Effective immediately, the company will be known as IMA New York.
Seiffert Insurance Agency joined Valley Insurance Agency Alliance, a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois. Founded in 2023, Seiffert Insurance Agency was created by owner Anthony Seiffert, who has seven years of insurance industry experience. The full-service agency is located in Wentzville, Missouri, and specializes in home, auto and life insurance.
Society of Insurance Research concluded its two-day annual conference on September 12, 2023. This year’s conference was held in Cincinnati, Ohio, and featured 32 sessions, 74 speakers and 108 companies.
Aquiline Capital Partners LLC announced the formation of MDpanel, a new platform dedicated to the efficient delivery of medical opinions as part of the workers’ compensation insurance claims process.
USI Insurance Services acquired Honolulu, Hawaii-based Cavanah Associates, Inc. Founded in 1976, Cavanah Associates is an independent brokerage firm specializing in commercial and personal risk insurance programs. Terms of the transaction were not disclosed.
Independent Insurance Agents of West Virginia declared Michael Winter as the 2023 “Earl S. Dillard Agent of the Year”.
Shippo and Cover Genius partnered to enhance the merchant experience with the launch of Shippo Total Protection, an innovative solution that provides merchants with comprehensive protection, global coverage and seamless claims handling. With this enhanced insurance offering, Shippo’s network of 100k+ merchants can now cover an order’s total value, shipping label costs, return shipping for damaged parcels and reshipping costs for insured packages across North America, EMEA and APAC, enabling them to protect their bottom lines and their customer’s shipping experience.
IPC collaborated with Obsidian, a highly regarded specialty hybrid program carrier rated “A-” by A.M. Best. This marks the introduction of an exclusive program dedicated to Hired & Non-Owned Auto insurance, available in all states except Florida, Louisiana and New Jersey.
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