Around the P&C insurance industry: January 10, 2024
Insurance industry news from Travelers, Alta Signa, Claim Assist Solutions and more.
The Travelers Companies, Inc. acquired Corvus Insurance Holdings, Inc., an industry-leading cyber insurance managing general underwriter that is powered by proprietary technology.
Aspen Insurance Holdings Limited partnered with Surefire Cyber to launch Aspen Cyber Risk Services, a complimentary and high impact suite of services that will enable its primary cyber insureds to proactively tackle cybersecurity threats, from pre-incident to response and resilience.
Alta Signa Europe B.V. enhanced underwriting structure for its multiple business lines including the creation of a number of new pan-European Technical Heads of Underwriting roles. Alta Signa currently writes management liability, financial institutions, professional indemnity, cyber risk, financial crime and marine insurance across seven markets in Europe with a strong focus on regional expertise and a presence on the ground in local markets.
Everest Reinsurance has established a dedicated Global Specialties business, bringing its deep expertise and offerings across aviation, marine, cyber, engineering and parametric solutions under the leadership of Phil Taylor, who has been appointed head of global specialties. Taylor will report to Jill Beggs, head of North America and global specialty reinsurance.
NJM Insurance Group is now offering its ProEdge Businessowners Policy and ProPack Commercial Package Policy to businesses in Connecticut. NJM ProPack CPP protects mid-to-large-sized businesses against property and liability risks, and includes crime, inland marine and industry-specific coverages. NJM ProEdge BOP provides similar protection for small businesses. ProPack and ProEdge each provide flexibility by offering several options to customize the policy for businesses in different industries.
Several well-known firms have joined forces under an overarching brand name, Claim Assist Solutions, including Allcat Claims Service, Colonial Claims, Lighthouse Claims Service, Parker Loss Consultants, Prestige Claims Service, and QA Claims. All are powered by Claim Assist Technologies, an end-to-end proprietary claim management software platform. Claim Assist Solutions provides people, process and technology to leading insurance carriers in the auto, property, flood and complex and commercial claims industry through its more than 2,000 employees and independent adjuster network of 17,000 licensed contractors.
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