Around the property and casualty insurance industry: June 23, 2021

News from Trux, Beazley, Tractable and more. (Photo: Shutterstock)

Trux collaborated with Boston REIN, which offers an integrated insurance platform, to provide a streamlined insurance integration and renewal program for dump truck drivers. The partnership aims to make the process of creating an initial account and renewing insurance even easier, providing independent owners and fleets with access to leading insurance. The Trux Marketplace currently serves more than 28,000 insured dump truck drivers.

International Hub Limited launched HUB Drive Excess Liability Shield, a supplemental / umbrella liability insurance solution designed for transportation customers that can expand coverage and protect them against potential major losses resulting from nuclear verdicts. HUB Drive Excess Liability Shield will provide broad excess liability / umbrella coverage with limits up to $ 5 million or a component of a transportation industry surplus tower through Trisura Specialty Insurance Co., an AM Best carrier rated A-Excellent, and will be available in all states except New York.

Beazley has extended its risk management offering for the telehealth industry with new tools designed to help navigate the complex regulatory landscape of digital health. In partnership with the law firm Baker, Beazley has created a multi-layered interactive digital map that provides detailed information on state-by-state laws governing the provision of telehealth services in the United States.

Cambridge mobile telematics acquired TrueMotion, mobile telematics provider. This acquisition, concluded yesterday, brings together the two leading companies in the rapidly growing mobile telematics sector. CMT will now provide telematics services to 21 of the 25 largest auto insurers in the United States and to more than 20 countries including Canada, United Kingdom, Germany, South Africa, Japan and Australia .

Bamboo Insurance acquired some of the assets of American Premier P&C insurance agency of parent company First American Financial Corporation. First American announced in October 2020 its intention to withdraw from its property and casualty business and focus on its core business.

Flood of Neptune, an AI-based flood insurance company, has surpassed $ 20 billion in the total value of insured property in less than four years of operation. With more than 70,000 clients and 6,000 active insurance agents, Neptune quickly became one of the leading private flood insurers in the United States, offering residential, commercial and RCBAP flood insurance products to the United States. nationwide.

CFC announced that CFC Syndicate 1988 launched and began trading. In addition to the venture capital provided by CFC, the syndicate worked with Aon Capital Advisory to attract capital support from third parties, including a large pension fund, an ILS manager and reinsurers located in Bermuda, Cayman Islands and Japan. CFC Syndicate 1988 underwrites approximately 20% of the established CFC portfolio, which will generate approximately £ 100 million in gross premiums.

Animal farm foundation (AFF) launched the Dog, Life and Home Insurance Project to end restrictive dog breed restrictions in the home insurance industry. These restrictions are often used as a way to discriminate against individuals based on their class or race, according to the foundation. This initiative reflects AFF’s unwavering commitment to challenging laws and policies that separate dogs from people.

CyberCube released a new edition of Portfolio Manager, the industry cyber risk modeling platform used by insurers, reinsurers and reinsurance brokers. Portfolio Manager enables insurers to stress test (re) insurance portfolios against a range of systemic cybercrime scenarios, including data breaches, cloud failures, global ransomware attacks and cybercrime. financial fraud. Originally launched in March 2018, it was the first fully probabilistic cyber disaster model that allowed customers to analyze and identify loss drivers and areas of risk accumulation.

Ryan Specialty Group Holdings, Inc. announced that it has publicly filed a registration statement with the United States Securities and Exchange Commission regarding the company’s proposed initial public offering of its Class A common stock. initial public offering, Ryan Specialty Group Holdings will be the sole managing member of Ryan Specialty Group, LLC and will exclusively operate and control all of its business and affairs. The number of Class A common shares to be offered and the price range for the proposed offering have not yet been determined. Ryan Specialty Group Holdings intends to list its Class A common shares on the New York Stock Exchange under the symbol “RYAN”.

Related: Around the P&C Insurance Industry: June 16, 2021

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