Around the P&C insurance industry: November 22, 2023
Insurance industry news from VIU, Pro MGA Global Solutions, CFC and more.
VIU by HUB launched landlord insurance to protect investment rental properties and secondary homes. Landlord insurance typically includes two different types of coverage, property damage and liability protection, and offers financial protection from damage caused by fire and storms, lost rental income and personal liability.
Verisk launched FairCheck, a solution designed to help insurers test their personal lines models and variables to respond to regulatory changes. FairCheck comprises a customizable, scalable methodology and consultative service to help evaluate and mitigate the potential for unfairly discriminatory outcomes, including in advance of regulatory filings.
Arbol expanded into the United Kingdom by launching a new, London-based managing general agent, poised to service the international insurance market outside the U.S. This expansion underscores Arbol’s commitment to serve stakeholders impacted by climate risk globally. The new London-based MGA will leverage Arbol’s U.K. partnerships with capacity providers and brokers to fortify its global network. Through this expansion, Arbol aims to redefine standards of resilience and sustainability worldwide.
Munich Re Specialty Insurance launched an excess accountants professional liability solution to help protect accounting businesses from the unique risks in the financial services industry.
Pro MGA Global Solutions was appointed by technology-led underwriter of parametric risk transfer, climate and weather reinsurance, Arbol Inc, to support its U.K. launch and international MGA expansion strategy.
FIRE SAFE BUILD INDIA will be held from February 1-3, 2024, at Jio World Convention Centre, Mumbai. Organized by NuernbergMesse India, the second edition of the event will bring together industry leaders, professionals and innovators from the field of fire safety to present the latest developments and products designed to protect lives, assets and property.
CFC upgraded its packaged insurance policies for professional services businesses. Brokers selling CFC’s professional liability policies can offer their SME clients add-on cyber cover that now includes broad cyber crime coverage, as well as giving SMEs access to CFC’s award-winning proactive cyberattack prevention services and incident response capabilities.
Kaplansky Insurance acquired Archetype Insurance Group, an independent insurance agency based in Worcester, Massachusetts. This move signifies Kaplansky Insurance’s commitment to growth and strengthening its position in the insurance market. This marks the 43rd acquisition for Kaplansky Insurance.
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