Around the P&C insurance industry: January 31, 2024
Insurance industry news from Fleet Response, NFP, GAF and more.
Fleet Response announced a strategic transformation that involves the integration of Paragon Subrogation Services, LLC and the emergence with Fleet Response. This strategic move is part of their commitment to innovation, growth and delivering enhanced value to their customers and partners.
NFP acquired Advanced Insurance Consultants Limited, an independent insurance broker based in Hemel Hempstead on the outskirts of London. As part of the deal, which closed on December 15, the entire AIC team will join NFP.
NFP and the National Hockey League announced a new multiyear North American partnership, naming NFP the Official Business Insurance Brokerage Partner of the NHL. The new partnership provides NFP with an array of exclusive marketing rights and designations that will connect the brand with the NHL and its fans through the NHL’s vast marketing, digital and social media channels.
Everest Insurance has established a dedicated private equity vertical, which expands the company’s offerings across property and casualty lines to serve the distinct needs of private equity sponsors and their portfolio companies in North America. Dan Reinert has been appointed private equity vertical leader, reporting to Rob Clark, head of Everest Specialty Underwriters.
The National Council on Compensation Insurance announced that President and Chief Executive Officer Bill Donnell plans to retire in February 2025.
GAF launched the GAF ScopeConnectSM, a turn-key service offering a complete insurance scope of work in an industry standard format in less than 24 hours.
Coalition announced it now offers miscellaneous professional liability insurance. This coverage helps protect against the impact of a claim that a business committed errors and omissions in performing a professional service. Coalition’s MPL insurance coverage is available by endorsement to active cyber insurance policies through existing capacity providers for a wide range of industries to cover defense costs, settlements, judgments and other claims-related expenses.
Tokio Marine Kiln’s claims team has been named first in the market for the service metrics of relationships and communication, and has once again been awarded the Service Quality Marque for Outstanding Service by leading independent research firm Gracechurch.
Brace Underwriting Limited launched Brace USA with Glenn Dorr as president and head of marketing, North America reporting to Adam Holberry, group CEO of Brace. The launch coincides with Brace’s four-year anniversary and signifies an exciting stage in the business’s growth. Founded in October 2019 by Holberry, Brace has since solidified its reputation as a leading capacity provider to alternative risk MGAs across the globe and in 2023 wrote in excess of $120 million in gross written premium.
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