Insurance industry

Visesh Gosrani, Chair of the Institute and Faculty of the Actuaries Cyber Risk Working Party, joins Advisory Board of Cyber Risk Modeling Company Kovrr

Retrieved on: 
Thursday, July 16, 2020
Professional services, Data management, Security, Technology, Other Technology, Insurance, Finance, Economy, Service industries, Finance, Actuarial science, Insurance industry, Actuary, Insurance, Risk analysis

Visesh Gosrani, Chair of the Institute and Faculty of the Actuaries Cyber Risk Working Party, joins Advisory Board of Cyber Risk Modeling Company Kovrr.

Key Points: 
  • Visesh Gosrani, Chair of the Institute and Faculty of the Actuaries Cyber Risk Working Party, joins Advisory Board of Cyber Risk Modeling Company Kovrr.
  • This type of transparency allows carriers to quickly validate their assumptions while strengthening their internal cyber risk expertise.
  • said Visesh Gosrani, Cyber models are indispensable for assessing and quantifying cyber risk and transparency is a major factor for (re)insurer adoption.
  • Kovrrs cyber risk modeling platform delivers global (re)insurers transparent, real-time data-driven insights into their affirmative and non-affirmative single, accumulated and catastrophic cyber risk exposures.

Trean Insurance Group Prices Initial Public Offering

Retrieved on: 
Thursday, July 16, 2020
Finance, Economy, Money, Insurance, Insurance industry, Stock

WAYZATA, Minn., July 15, 2020 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (Trean) today announced the pricing of its initial public offering of 10,714,286 shares of common stock at a price of $15.00 per share.

Key Points: 
  • WAYZATA, Minn., July 15, 2020 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (Trean) today announced the pricing of its initial public offering of 10,714,286 shares of common stock at a price of $15.00 per share.
  • Trean is offering 7,142,857 shares of common stock and the selling stockholders named in the prospectus are offering 3,571,429 shares of common stock.
  • Trean Insurance Group, Inc. provides products and services to the specialty insurance market.
  • Trean underwrites specialty casualty insurance products both through its program partners and its own managing general agencies.

Evans Bancorp, Inc. Announces Second Quarter 2020 Conference Call and Webcast

Retrieved on: 
Wednesday, July 15, 2020
Finance, Banking, Professional services, Other Professional Services, Insurance, Finance, Service industries, Insurance, Insurance industry

ET on the day of the teleconference until Wednesday, August 5, 2020.

Key Points: 
  • ET on the day of the teleconference until Wednesday, August 5, 2020.
  • To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13705868, or access the webcast replay at www.evansbancorp.com , where a transcript will be posted once available.
  • Evans Insurance Agency, a wholly owned subsidiary, provides life insurance, employee benefits, and property and casualty insurance through ten offices in the Western New York region.
  • Evans Bancorp, Inc. and Evans Bank routinely post news and other important information on their websites, at www.evansbancorp.com and www.evansbank.com .

Flushing Bank Receives Approval for Second Round of Grant Money from Federal Home Loan Bank of New York’s (FHLBNY) Small Business Recovery Grant Program to Assist Local Small Businesses and Non-Profit Organizations

Retrieved on: 
Wednesday, July 15, 2020
Economy, Finance, Money, Insurance, Insurance industry, Deposit insurance, Federal Deposit Insurance Corporation, Flushing, Queens, Bank

The Bank will disburse the grant money to local small businesses and non-profit organizations in their market area.

Key Points: 
  • The Bank will disburse the grant money to local small businesses and non-profit organizations in their market area.
  • John R. Buran, President and CEO, stated, As a community bank, we recognize our responsibility to help small businesses and non-profit organizations who employ and support the individuals and families struggling in our communities.
  • Each will play a critical role in the economic recovery of our local communities.
  • Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank, a New York Statechartered commercial bank insured by the Federal Deposit Insurance Corporation.

Direct Auto Insurance Launches Millions to Feed Campaign with Goal of Providing 10 Million Meals* to Feeding America®

Retrieved on: 
Wednesday, July 15, 2020
Economy, Finance, Service industries, Vehicle insurance, Insurance, Insurance industry, Nashville, Tennessee, ING Australia

NASHVILLE, Tenn., July 15, 2020 (GLOBE NEWSWIRE) -- Direct Auto Insurance has launched theMillions to Feedcampaign to support people affected by the COVID-19 pandemic with the goal ofhelping to provide10 million meals* to Feeding America, the nations largest domestic hunger-relief organization.

Key Points: 
  • NASHVILLE, Tenn., July 15, 2020 (GLOBE NEWSWIRE) -- Direct Auto Insurance has launched theMillions to Feedcampaign to support people affected by the COVID-19 pandemic with the goal ofhelping to provide10 million meals* to Feeding America, the nations largest domestic hunger-relief organization.
  • For each newquote completed throughout the month of July, the insurance group that includes Direct Auto will donate 10 mealstoward the effort, and commits to a minimum overall contribution of $500,000 to Feeding America.
  • We are proud to partner with Feeding America and support our communities during this time of tremendous need, says Aaron Kuluk, Executive Vice President, Direct to Consumer Distribution of Direct Auto Insurance.
  • Founded in 1991, Nashville-based Direct Auto Insurance sells personal car insurance and other types of coverage and products online, over the phone and in-store at more than 450 retail locations.

Best’s Market Segment Report: AM Best Assigns Negative Outlook to Chile’s Insurance Industry

Retrieved on: 
Wednesday, July 15, 2020
Insurance, Professional services, Economy, Finance, Money, Annuities, Insurance, Insurance industry

AM Best has assigned a negative market segment outlook to Chiles insurance industry, citing contractions of premium volume, limited financial flexibility and regulatory changes that have diminished the attractiveness and profitability of the health and annuity segments, all of which are being exacerbated by the COVID-19 pandemic.

Key Points: 
  • AM Best has assigned a negative market segment outlook to Chiles insurance industry, citing contractions of premium volume, limited financial flexibility and regulatory changes that have diminished the attractiveness and profitability of the health and annuity segments, all of which are being exacerbated by the COVID-19 pandemic.
  • The Bests Market Segment Report, titled, Market Segment Outlook: Chile Insurance, states that the countrys economic growth was struggling ahead of the pandemic.
  • AM Best will continue to monitor developments in the insurance market in Chile, and its exposures to financial and natural risks.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

U.S. Surplus Lines Insurance Market to Reach $125.92 Bn by 2027 at 15.2% CAGR: Allied Market Research

Retrieved on: 
Wednesday, July 15, 2020
Economy, Finance, Service industries, Insurance, Insurance industry, Underwriting

PORTLAND, Oregon, July 15, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "U.S. Surplus Lines Insurance Market by Coverage (General Business Liability Insurance, Allied Lines Insurance, Fire Insurance, Inland Marine Insurance, Commercial Multi-Peril Insurance, Commercial Auto Insurance, and Others), Distribution Model (Retail Agents, Wholesalers, and Others), and Application (Commercial and Personal): Country Opportunity Analysis and Industry Forecast, 20202027."

Key Points: 
  • PORTLAND, Oregon, July 15, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "U.S. Surplus Lines Insurance Market by Coverage (General Business Liability Insurance, Allied Lines Insurance, Fire Insurance, Inland Marine Insurance, Commercial Multi-Peril Insurance, Commercial Auto Insurance, and Others), Distribution Model (Retail Agents, Wholesalers, and Others), and Application (Commercial and Personal): Country Opportunity Analysis and Industry Forecast, 20202027."
  • According to the report, the U.S. surplus lines insurance market garnered $52.15 billion in 2019, and is expected to generate $125.92 billion by 2027, witnessing a CAGR of 15.2% from 2020 to 2027.
  • Increase in number of large corporations, rise of underwriting divisions, and surge in mergers & acquisitions drive the growth of the U.S. surplus lines insurance market.
  • However, efficient management of legacy claims & policy systems and emergence of technologies for customized solutions hinder the market growth.

U.S. Surplus Lines Insurance Market to Reach $125.92 Bn by 2027 at 15.2% CAGR: Allied Market Research

Retrieved on: 
Wednesday, July 15, 2020
Economy, Finance, Service industries, Actuarial science, Insurance, Insurance industry, Underwriting, Cincinnati Financial

Increase in number of large corporations, rise of underwriting divisions, and surge in mergers and acquisitions drive the growth of the U.S. surplus lines insurance market

Key Points: 
  • Increase in number of large corporations, rise of underwriting divisions, and surge in mergers and acquisitions drive the growth of the U.S. surplus lines insurance market
    PORTLAND, Oregon, July 15, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "U.S. Surplus Lines Insurance Market by Coverage (General Business Liability Insurance, Allied Lines Insurance, Fire Insurance, Inland Marine Insurance, Commercial Multi-Peril Insurance, Commercial Auto Insurance, and Others), Distribution Model (Retail Agents, Wholesalers, and Others), and Application (Commercial and Personal): Country Opportunity Analysis and Industry Forecast, 20202027."
  • According to the report, the U.S. surplus lines insurance market garnered $52.15 billion in 2019, and is expected to generate $125.92 billion by 2027, witnessing a CAGR of 15.2% from 2020 to 2027.
  • Increase in number of large corporations, rise of underwriting divisions, and surge in mergers & acquisitions drive the growth of the U.S. surplus lines insurance market.
  • However, efficient management of legacy claims & policy systems and emergence of technologies for customized solutions hinder the market growth.

Markel Specialty launches Risk Solution Services

Retrieved on: 
Tuesday, July 14, 2020
Economy, Finance, Money, Insurance, Insurance industry, Markel, Risk, Markel Corporation

RICHMOND, Va., July 14, 2020 /PRNewswire/ --Markel Specialty announced the official launch of Risk Solution Services, its newly expanded loss control department.

Key Points: 
  • RICHMOND, Va., July 14, 2020 /PRNewswire/ --Markel Specialty announced the official launch of Risk Solution Services, its newly expanded loss control department.
  • "Loss control and risk engineering are important to Markel Specialty and our customers," Peterson said.
  • "Thanks to Allison's leadership and extensive industry experience, Markel Specialty's Risk Solution Services offering is well positioned to provide tremendous value to our producers and insureds."
  • "The strength of Risk Solution Services lies in the deep understanding of the various industries we serve," Elzer said.

Universal Insurance Holdings Announces Second Quarter 2020 Earnings Release and Conference Call Date

Retrieved on: 
Tuesday, July 14, 2020
Insurance, Professional services, Economy, Service industries, Finance, Insurance, Insurance industry, New York Stock Exchange

Universal Insurance Holdings, Inc. (NYSE: UVE) will issue a press release reporting its second quarter results after the close of trading on the NYSE on Wednesday, July 29, 2020.

Key Points: 
  • Universal Insurance Holdings, Inc. (NYSE: UVE) will issue a press release reporting its second quarter results after the close of trading on the NYSE on Wednesday, July 29, 2020.
  • The company will host a conference call on Thursday, July 30, 2020, at 9:00 a.m. Eastern Time (ET) to discuss its second quarter 2020 financial results.
  • We develop, market, and write insurance products for consumers predominantly in the personal residential homeowners lines of business and perform substantially all other insurance-related services for our primary insurance entities, including risk management, claims management and distribution.
  • We sell insurance products through both our appointed independent agents and through our direct online distribution channels in the United States across 18 states (primarily Florida).