Around the P&C insurance industry: February 21, 2024
Insurance industry news from Burns & Wilcox, Nearmap, Coalition and more.
Burns & Wilcox opened its new Boston office and hired Peter Kestenbaum, who will serve as managing director.
Inter-Company Marketing Group named Allen Bress, president of AIM Marketing & Insurance Services, Inc., of Scottsdale, Arizona, as the recipient of the 2024 Don Kampe Lifetime Achievement Award.
GAWS of London Limited announced that it will be rebranding on March 4, 2024. Aimed squarely at its growing customer and market partners, the rebrand will better reflect the current shape of the business following an exciting period of significant growth. It will also better represent the business’s strategic ambitions as it meets the challenges of an evolving risk landscape.
Nearmap acquired Betterview, a leading property intelligence and risk management platform in the insurance industry.
KYND disclosed a substantial investment in the business to propel expansion and further growth. The investment comes from Verisk, a leading global data analytics and technology provider, and existing backer BGF, one of the largest and most experienced growth capital investors in the U.K. and Ireland.
PointeNorth Insurance Group, LLC acquired Valdosta Insurance Services and Southern Insurance Advisors. PointeNorth provides growth opportunities for agencies looking to partner with an organization that can invest in their future success. PointeNorth offers agents a perpetuation strategy that may include equity and provides continued employment and advancement opportunities for their employees.
Duck Creek Technologies announced the inclusion of Xceedance as a premier reinsurance partner. As a longstanding collaborator with Duck Creek, Xceedance brings cutting-edge technology and top-tier service solutions to reinsurers globally.
The insurance industry has expressed its support for recent action by the Kansas House to overwhelmingly pass House Bill 2499, which would prohibit the use of a mobile telephone while driving by drivers under the age of 18 and for all drivers while driving in construction zones with workers present or in school zones during hours of reduced speed enforcement.
Commercial Insurance Associates has completed a recapitalization aimed at preserving its independent agency status and building a platform for future growth.
Coalition announced that businesses that use Coalition MDR are eligible for up to 12.5% premium credit on cyber insurance policies provided by Coalition. Coalition MDR is available to existing policyholders and non-policyholders in all geographies where Coalition operates. The premium credit is currently available on U.S. surplus cyber policies and must be applied before the policy is bound or prior to renewal.
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