Around the P&C insurance industry: August 21, 2024
This week's update includes insurance industry news from PCF Insurance Services, Rokstone, CRC Group and more.
PCF Insurance Services acquired the insurance business of Asset Insurance Agency, based in Peabody, Massachusetts. By joining forces with PCF Insurance, the Asset team and its clients will benefit from expanded coverage solutions, more competitive pricing, and value-add services like in-house risk management and claims advocacy.
Marsh launched new insurance solution specifically designed for the transportation and storage of carbon dioxide. Available to projects globally, Marsh’s unique solution addresses critical insurance limitations that have previously hindered the rapid advancement of the carbon capture and storage industry.
Marsh launched a first of its kind $50 million port blockage insurance facility, covering shipping ports and terminals around the world. The facility is backed by a panel of Lloyd’s of London and London market A+ rated insurers, and offers capacity of $50 million, with higher limits being available on a case-by-case basis.
Rokstone partnered with Accredited Insurance Program Management, a leading global program manager. The partnership includes both U.S. and international business. This strategic partnership marks a significant milestone for both companies. The enhanced financial strength and expanded capabilities of Accredited will provide Rokstone with the necessary support to further develop its specialty insurance solutions and expand its market reach.
Adjusters are often referred to as the backbone of the property and casualty industry. To celebrate these important individuals on the eve of National Adjuster Day, August 17, Enlyte launched a new interface for its DecisionPoint solution aimed at making first-party claims adjusters’ jobs easier. The new DecisionPoint user interface is designed to streamline the bill review and approval process, providing smart guidance to help adjusters make the right decisions at the right time.
Crawford Technologies announced its AccessibilityNow Translate has been awarded Xplor International’s Technology of the Year Award. The annual award recognizes a product that is transforming the customer communications industry by expanding the capabilities of document and communication systems. AccessibilityNow Translate is designed to ensure that all individuals, regardless of language used, have access to vital information.
CRC Group launched new exclusive proprietary crime product, Crime360, available through the company’s recently formed CRC/ INSUREtrust Cyber Practice Group.
DARAG Group has agreed to sell, subject to regulatory approvals, its North American and Bermuda business entities to the RiverStone Group. The sale is expected to close by year end.
To address the growing risks faced by many law firms, Berkley Select has enhanced its employment practices liability offering, adding a new product, AttorneyShield, that provides tailored EPL coverage for the unique needs of law firms.
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