Liability insurance

Oklahoma Kicks Off Use of Rekor’s Vehicle Recognition Technology to Power Uninsured Vehicle Enforcement Program

Retrieved on: 
Thursday, January 7, 2021
Insurance law, Types of insurance, Uninsured motorist clause, Health insurance coverage in the United States, Liability insurance

Oklahomas UVED Program uses Rekor's vehicle recognition technology to leverage existing state resources to ensure that all drivers have at least the minimum required amount of liability insurance, ultimately leading to safer roadways.

Key Points: 
  • Oklahomas UVED Program uses Rekor's vehicle recognition technology to leverage existing state resources to ensure that all drivers have at least the minimum required amount of liability insurance, ultimately leading to safer roadways.
  • Rekor will assist Oklahoma drivers by providing a one-stop web portal for uninsured motorists to easily find non-standard and standard insurance for their vehicle.
  • Nationwide studies have estimated that up to 26 percent of vehicles traveling on Oklahoma roads are uninsured, a situation that leaves all motorists at risk.
  • Rekors technology will assist the State of Oklahoma in identifying uninsured vehicles on the road, and once identified, the enforcement division will issue a Notice to Respond,'' encouraging a vehicle owner to get insurance and comply with the law.

Berkshire Hathaway Specialty Insurance Names Brady Head as SVP and Product Line Officer, D&O Liability Insurance

Retrieved on: 
Wednesday, January 6, 2021
Insurance, Professional services, Types of insurance, Reinsurance companies, Companies, Finance, Directors and officers liability insurance, Liability insurance, Insurance, American International Group, Berkshire Hathaway, RLI Corp.

Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has named Brady Head as Senior Vice President, Product Line Officer for D&O Liability Insurance in North America.

Key Points: 
  • Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has named Brady Head as Senior Vice President, Product Line Officer for D&O Liability Insurance in North America.
  • Brady brings exceptional financial lines experience to BHSI, and we are pleased to welcome him to our Executive & Professional Lines leadership team.
  • Brady comes to BHSI after 27 years at AIG, where he was most recently Head of Management Liability, including commercial D&O Liability, Fiduciary Liability, Employment Practices Liability and Crime coverages in the U.S., Canada and Bermuda.
  • Berkshire Hathaway Specialty Insurance ( www.bhspecialty.com ) provides commercial property, casualty, healthcare professional liability, executive and professional lines, transactional liability, surety, marine, travel, programs, accident and health, medical stop loss, homeowners, and multinational insurance.

SOS Ltd. Announces Partnering with Zhonglu P&C Insurance

Retrieved on: 
Tuesday, December 29, 2020
Types of insurance, Insurance, General insurance, Casualty insurance, Vehicle insurance, Liability insurance, DB Insurance, TATA AIG

QINGDAO, China, Dec. 29, 2020 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced today that it entered into a strategic cooperation agreement with Zhonglu Property And Casualty Insurance Co, Ltd ("Zhonglu ") to cooperate in the area of big data precision marketing, insurance product promotion and big data intelligent analysis.

Key Points: 
  • QINGDAO, China, Dec. 29, 2020 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced today that it entered into a strategic cooperation agreement with Zhonglu Property And Casualty Insurance Co, Ltd ("Zhonglu ") to cooperate in the area of big data precision marketing, insurance product promotion and big data intelligent analysis.
  • Zhonglu is a leading full-licensed nationwide property and casualty insurance provider in China, providing the following insurance products and services: motor vehicle insurance, residential property insurance, business property insurance, engineering insurance, liability insurance, cargo transportation insurance, ship insurance, accident insurance, short-term health insurance, etc.
  • On December 28,2020, SOS and Zhonglu entered into a strategic partnership agreement to create the synergy and sharing in sales channels, branding and technology for insurance marketing and services.
  • Through its operating subsidiaries and branches, Zhonglu provides the following insurance products and services: motor vehicle insurance, family property insurance, enterprise property insurance, engineering insurance, liability insurance, cargo transportation insurance, ship insurance, accident insurance, short-term health insurance, etc.

Chubb Enhances D&O and Fiduciary Insurance Offerings to Address Changing Liability Exposures

Retrieved on: 
Tuesday, December 22, 2020
Finance, Money, Types of insurance, Economy, Directors and officers liability insurance, Liability insurance, Insurance broker, Insurance, Fiduciary, Chubb, Chubb Limited

WHITEHOUSE STATION, N.J., Dec. 22, 2020 /PRNewswire/ -- Chubb has enhanced its Directors & Officers and Entity Securities Liability as well as its Fiduciary Liability primary insurance offerings.

Key Points: 

Bundled Cybersecurity Insurance Solution Launched by Transmosis CyberOPS

Retrieved on: 
Thursday, December 17, 2020
Economy, Types of insurance, Finance, Money, Insurance, Cyber insurance, Liability insurance, Small business

The partnership introduces a fully integrated cyber liability insurance solution along with the CyberOPS A.I.

Key Points: 
  • The partnership introduces a fully integrated cyber liability insurance solution along with the CyberOPS A.I.
  • CyberOPS now provides small businesses with a one stop shop for advanced cyber protection and bundled cyber liability insurance.
  • The fully integrated solution means that small businesses can be approved for both in minutes and insurance claims are settled faster and more completely through the use of CyberOPS technology.
  • The product requires no insurance brokers, complicated research, or yearly contracts and is bundled into a monthly subscription model.

SynchronoSure® and American European expand their partnership to include Trucker General Liability for small trucking firms

Retrieved on: 
Wednesday, December 16, 2020
Types of insurance, Liability insurance, Insurance, Financial services, Reliance Partners

RALEIGH, N.C., Dec. 16, 2020 /PRNewswire/ --Synchrono Group, Inc., doing business under its trademark SynchronoSure , and American European Insurance Group (AEIG) have expanded their previously announced partnership to include coverage for Trucker General Liability insurance for small trucking companies.

Key Points: 
  • RALEIGH, N.C., Dec. 16, 2020 /PRNewswire/ --Synchrono Group, Inc., doing business under its trademark SynchronoSure , and American European Insurance Group (AEIG) have expanded their previously announced partnership to include coverage for Trucker General Liability insurance for small trucking companies.
  • "We have worked with the talented staff at American European to expand our program to include a specialized product focused on trucking companies operating up to 25 power units.
  • Increasingly, trucking firms are being asked to show proof of General Liability insurance in addition to the normal automobile liability policies.
  • SynchronoSure will soon be launching Workers' Compensation and Excess /Umbrella Liability product, and has additional products planned for small businesses including General Liability and Occupational Accident in Q1 2021.

Best’s Market Segment Report: AM Best Assigns Negative Outlook to US General Liability Insurance Market

Retrieved on: 
Tuesday, December 15, 2020
Professional services, Insurance, Finance, Types of insurance, Insurance, Liability insurance, Commercial general liability insurance

AM Best has assigned a negative market segment outlook to the U.S. commercial general liability insurance segment, owing to unfavorable claims trends driven by social inflation and other factors such as third-party litigation financing.

Key Points: 
  • AM Best has assigned a negative market segment outlook to the U.S. commercial general liability insurance segment, owing to unfavorable claims trends driven by social inflation and other factors such as third-party litigation financing.
  • General liability insurance is a broad form of commercial insurance coverage that protects policyholders against claims that their businesses caused bodily injury or property damage to third parties.
  • With its Bests Market Segment Report, Market Segment Outlook: US General Liability Insurance, AM Best notes that the negative outlook also takes into account, albeit to a lesser extent, the possibility that the COVID-19 pandemic could pressure growth opportunities and lead to heightened claims activity for general liability insurers.
  • Another factor partially offsetting the negative outlook is the strong risk-adjusted capital positions of segment carriers.

New MGA Seeks to Streamline Professional Liability Coverage

Retrieved on: 
Tuesday, December 15, 2020
Professional services, Engineering, Other Construction & Property, Manufacturing, Insurance, Construction & Property, Other Manufacturing, Types of insurance, Liability insurance, Insurance, Liability, Victor Canada, Western World Insurance Group

ProFinity offers same-day turnaround on its three insurance solutions:

Key Points: 
  • ProFinity offers same-day turnaround on its three insurance solutions:
    DEC Pro offers professional liability coverage for SME contractors, construction managers and design/engineering professionals.
  • Manu Pro offers professional liability coverage for component and end-product manufacturers.
  • Specialized Security offers professional and general liability coverage for specialized security contractors operating domestically and in hostile environments around the world.
  • ProFinity was created with the mindset that there was a better way to meet wholesale brokers needs for professional liability coverage, said Uthayashanker.

Philadelphia Insurance Companies Promotes Glomb to CEO, O'Leary Stays on as Chairman

Retrieved on: 
Monday, December 14, 2020
Finance, Money, Economy, Insurance, Types of insurance, Liability insurance, Tokio Marine HCC, RLI Corp.

O'Leary spent the last eight years in that role and willcontinue to serve as Chairman of the Board.

Key Points: 
  • O'Leary spent the last eight years in that role and willcontinue to serve as Chairman of the Board.
  • Mr. Glomb joined Philadelphia Insurance Companies in 2007 as Senior Vice President of the Management and Professional Liability division.
  • In 1982, Mr. O'Leary joined the Maguire Insurance Agency which later became Philadelphia Insurance Companies in 1987 and helped establish PHLY's Northeast Region in his hometown of Boston.
  • Philadelphia Insurance Companies designs, markets, and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries.

Brent Brummer named Senior Vice President of Claims and Legislative Affairs for Florida Family Insurance

Retrieved on: 
Tuesday, December 8, 2020
Chartered Property Casualty Underwriter, Liability insurance, Property insurance, Insurance, General insurance

JACKSONVILLE, Fla., Dec. 8, 2020 /PRNewswire-PRWeb/ --Florida Family Insurance recently announced the promotion of Brent Brummer to Senior Vice President of Claims and Legislative Affairs.

Key Points: 
  • JACKSONVILLE, Fla., Dec. 8, 2020 /PRNewswire-PRWeb/ --Florida Family Insurance recently announced the promotion of Brent Brummer to Senior Vice President of Claims and Legislative Affairs.
  • Brent joined Florida Family Insurance in 2009 as the Claims Manager, was elevated to Vice President of Claims in 2013, and was appointed to the Operating Board in 2018.
  • In addition to overseeing the entire Claims Operation, Brent is responsible for government relations and works closely with industry trade organizations and the Office of Insurance Regulation.
  • Brent received both his bachelor's and master's degrees from Florida State University and holds Charter Property and Casualty Underwriter (CPCU) and Associate in Claims (AIC) designations.