Around the P&C insurance industry: May 22, 2024
Insurance industry news from USI Insurance Services, Crestfield Risk, Embri and more is featured in this weekly update.
USI Insurance Services has been named a winner of Glassdoor’s inaugural award for Best-Led Companies 2024 in the nation, ranking at number 11 among companies across all industries in the U.S. with 1,000+ employees. USI is the only insurance brokerage firm among the recognized top 50. This award honors companies with leadership teams that go above and beyond to redefine the employee experience.
Ardonagh Specialty named its reinsurance business Price Forbes Re. The renaming of Inver Re in London and Bermuda and Equinox Re in the U.S. follows the simplification of Ardonagh Specialty’s multiple brands in 2023, with Price Forbes becoming the main brand for wholesale business.
Liberty Company Insurance Brokers partnered with Ayres Brackfield Insurance of Knoxville, Tennessee. ABI has exemplified dedication to providing tailored insurance solutions for families and businesses alike. With a customer-centric approach, ABI has expanded its footprint to serve 18 states, ensuring personalized service remains at the forefront of their operations.
CIBA has partnered with AZGUARD Insurance Company, member of Berkshire Hathaway GUARD Insurance Companies and a non-admitted carrier in California, New York and other states. All Berkshire Hathaway GUARD subsidiaries are rated A+ Superior by A.M. Best and backed by the financial strength of the renowned Berkshire Hathaway Group.
The Consumer Protection Coalition has partnered with the National Insurance Crime Bureau to help continue spreading the word about the detrimental predatory contractor practices, which costs Americans billions annually. Every year, hurricanes, tornadoes and other catastrophic events leave millions of Americans struggling to recover and rebuild their lives.
Crestfield Risk, a partnership platform that unites and supports leading independent insurance agencies across the U.S., launched. Founded by industry leader Jeff Turner, the platform equips agencies with world-class resources, insights and unprecedented growth opportunities to best serve their clients and prosper for generations to come. The platform is backed by The Vistria Group, LLP, a next-generation private investment firm that operates at the intersection of purpose and profit.
Coastal Insurance Underwriters partnered with Superior Specialty Insurance Company, a State National Insurance Company surplus lines insurer. SSIC, provides surplus lines coverage for insurance programs. This new partnership is effective as of July 1, 2024 and will benefit CIU’s association programs.
Guardz launched its cyber insurance offering coupled with active cyber protection, tailored specifically for small and medium sized businesses. Available across the U.S. to businesses both directly and through a network of managed service providers, the unified Guardz offering is bridging the gap of secure and insure that SMBs and MSPs face in the cybersecurity realm. For the first time, it allows SMBs that were not previously eligible for cyber insurance to receive the protection, coverage and support they need to thrive in an evolving threat landscape.
Embri offered groundbreaking integrated and embedded insurance solutions tailored for the high-end luxury retail sector. Embri’s innovative platform aims to revolutionize the way luxury retailers provide insurance solutions to their clientele. By seamlessly integrating insurance offerings into the purchasing process, whether online or in-store, Embri ensures that customers have immediate coverage at the point of purchase, eliminating the need for them to leave the store or step outside their homes unprotected.
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