Commercial general liability insurance

Centricity’s Builder Division Unveils New Digital Platform, Creates Modern Relationship with Homebuyer for Structural New Home Warranty Coverage

Retrieved on: 
Tuesday, August 17, 2021
Language, GLOBE, Commercial general liability insurance, Mark (given name), Centricity, BFC, Builder's risk insurance, Petersburg, Insurance

Centricity makes buying a new home easier by guaranteeing the structural integrity of a builder's work as defined by the coverage provided in the express written warranty and providing a third-party backing to meet the builders warranty obligations.

Key Points: 
  • Centricity makes buying a new home easier by guaranteeing the structural integrity of a builder's work as defined by the coverage provided in the express written warranty and providing a third-party backing to meet the builders warranty obligations.
  • The new Homeowner Hub creates self-service options for the homeowner, including filing a new claim, monitoring the status of that claim, and reviewing a claims history.
  • As a company, were investing heavily in creating industry-leading digital experiences for our builders and their homebuyers.
  • In addition to its structural new home warranty product, Centricitys Builder Division offers a suite of other builder risk management solutions , including a Residential Energy Guarantee product as well as General Liability and Builders Risk insurance via its affiliate relationships.

NEXT Insurance Participates in Amazon Insurance Accelerator

Retrieved on: 
Tuesday, August 10, 2021
Policy, NEXT, Facebook, CEO, PALO, COI, Additional insured, Forbes, Running, Small business, Industry, Partnership, Growth, AI, LinkedIn, Machine learning, Commercial general liability insurance, Blog, Twitter, Online shopping

PALO ALTO, Calif., Aug. 10, 2021 /PRNewswire/ -- NEXT Insurance , the leading digital insurtech company transforming small business insurance, today announced it is participating in Amazon Insurance Accelerator, providing Amazon sellers looking to buy insurance with instant quotes at competitive rates, directly within Amazon Seller Central.

Key Points: 
  • PALO ALTO, Calif., Aug. 10, 2021 /PRNewswire/ -- NEXT Insurance , the leading digital insurtech company transforming small business insurance, today announced it is participating in Amazon Insurance Accelerator, providing Amazon sellers looking to buy insurance with instant quotes at competitive rates, directly within Amazon Seller Central.
  • Today, through Amazon Insurance Accelerator, sellers can seamlessly purchase NEXT's affordable and customized insurance coverage for a simple, frictionless experience.
  • Through Amazon Insurance Accelerator, third-party sellers on Amazon will be referred to NEXT's online application directly from their account.
  • To further support small business owners, NEXT is offering an exclusive 10% discount on General Liability insurance for Amazon third-party sellers.

IVANS Index July 2021 Results Released

Retrieved on: 
Monday, August 9, 2021
Umbrella, BOP, Policy, GLOBE, MGA, Padmakar–Ivan index, Industry, International Institute for Applied Systems Analysis, Product management, Commercial property, Commercial general liability insurance, Insurance, Financial adviser

TAMPA, Fla., Aug. 09, 2021 (GLOBE NEWSWIRE) -- IVANS today announced the July 2021 results of the IVANS Index, the insurance industrys premium renewal rate index.

Key Points: 
  • TAMPA, Fla., Aug. 09, 2021 (GLOBE NEWSWIRE) -- IVANS today announced the July 2021 results of the IVANS Index, the insurance industrys premium renewal rate index.
  • Premium renewal rate change by line of business for July 2021 highlights include:
    Commercial Auto: 4.19%, down from 4.28% last month.
  • The July results of the IVANS Index show a continued hardening in the market across almost all commercial lines of business as average premium renewal rates increase month over month, said Kathy Hrach, vice president of Product Management, IVANS Insurance Services.
  • Released monthly, IVANS Index is a data-driven report of current conditions and trends for premium rate renewal change of the most placed commercial lines of business in the insurance industry.

Member Companies of Builders Insurance Group Rated "A" (Excellent) by AM Best

Retrieved on: 
Monday, August 2, 2021
Insurance

ATLANTA, Aug. 2, 2021 /PRNewswire/ --AM Best, the leading provider of ratings, news and financial data for the insurance industry worldwide, has affirmed the financial strength rating of "A" (Excellent) with a "Stable" outlook for all member companies of Builders Insurance Group.

Key Points: 
  • ATLANTA, Aug. 2, 2021 /PRNewswire/ --AM Best, the leading provider of ratings, news and financial data for the insurance industry worldwide, has affirmed the financial strength rating of "A" (Excellent) with a "Stable" outlook for all member companies of Builders Insurance Group.
  • This achievement demonstrates Builders' strong financial position and its history of positive fiscal performance.
  • Factors cited by AM Best for Builders' rating include:
    Five-year loss and loss adjustment expense, underwriting expense, and combined ratios all in-line with the composite
    "Reaffirming our "A" rating with AM Best is an excellent achievement," said Todd Campbell, President & CEO of Builders Insurance Group.
  • Headquartered inAtlanta, Builders Insurance Group delivers innovative Workers' Compensation, General Liability, Property, Umbrella, and Builders Risk insurance through independent agents.Founded in 1992, the company has evolved into a dynamic, financially strong mutual with a philosophy of deeply supportive partnerships and exceptional expertise.

Amwins Program Underwriters Launches Alarm Contractors Insurance Program

Retrieved on: 
Thursday, March 18, 2021
Insurance, Types of insurance, Actuarial science, Underwriting, Inland marine insurance, Commercial general liability insurance

CHARLOTTE, N.C., March 18, 2021 /PRNewswire/ --Amwins Program Underwriters ("APU") today announced it has developed a new insurance solution dedicated to alarm contractors including commercial general liability, professional liability, property and inland marine coverage.

Key Points: 
  • CHARLOTTE, N.C., March 18, 2021 /PRNewswire/ --Amwins Program Underwriters ("APU") today announced it has developed a new insurance solution dedicated to alarm contractors including commercial general liability, professional liability, property and inland marine coverage.
  • The Alarm Contractors insurance program offers flexible coverage that can be tailored to meet the needs of specific alarm installation contractors including fire, burglar, residential/commercial/industrial, closed circuit television, home theater, and home automation.
  • Amwins Program Underwriters is a managing general agency within the Underwriting division of Amwins, a global distributor of specialty insurance products and services.
  • Amwins Program Underwriters (APU) is a managing general agency (MGA) specializing in affinity and program management.

RVOS Farm Mutual Insurance Company Selects Majesco’s CloudInsurer® Platform to Transform its Core Operations

Retrieved on: 
Thursday, January 14, 2021
Data management, Professional services, Technology, Insurance, Software, Types of insurance, Insurance, Commercial general liability insurance, Home insurance

Majesco, a global leader of cloud insurance software, today announced that RVOS Farm Mutual Insurance Company (RVOS), a long-time multi-line customer of Majescos has selected Majesco P&C Core Suite Version 11 and will implement Majesco Enterprise Data Warehouse (EDW) on Majesco CloudInsurer as part of their business transformation.

Key Points: 
  • Majesco, a global leader of cloud insurance software, today announced that RVOS Farm Mutual Insurance Company (RVOS), a long-time multi-line customer of Majescos has selected Majesco P&C Core Suite Version 11 and will implement Majesco Enterprise Data Warehouse (EDW) on Majesco CloudInsurer as part of their business transformation.
  • The new platform will support their personal, farm and commercial lines of business including farm and ranch property, farm liability, comprehensive personal liability, homeowners, dwelling policy, commercial property fire, and commercial general liability.
  • As a farm mutual, they have a unique ability to adapt quickly to new circumstances and offer a variety of insurance products to meet various needs and budgets.
  • The combination of Majesco P&C Core Suite and Enterprise Data Warehouse on CloudInsurer will provide a next-generation platform with robust business and data capabilities that are crucial as a digital insurer.

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.

Breckenridge Insurance Services Selects ClarionDoor to Modernize MGA Distribution

Retrieved on: 
Tuesday, October 27, 2020
Finance, Money, Economy, Insurance, Insurance broker, Investment, Commercial general liability insurance, General insurance, MGA

SANTA BARBARA, Calif., Oct. 27, 2020 (GLOBE NEWSWIRE) -- ClarionDoor , provider of the industrys most intelligent insurance product distribution platform, is pleased to announce that Breckenridge Insurance Services (Breckenridge) , a Texas-based wholesale managing general agent (MGA) that offers coverages for property and casualty (P&C) markets throughout the U.S., has selected the ClarionDoor MGA Hub (CD MGA Hub) to handle the companys commercial general liability and property business.

Key Points: 
  • SANTA BARBARA, Calif., Oct. 27, 2020 (GLOBE NEWSWIRE) -- ClarionDoor , provider of the industrys most intelligent insurance product distribution platform, is pleased to announce that Breckenridge Insurance Services (Breckenridge) , a Texas-based wholesale managing general agent (MGA) that offers coverages for property and casualty (P&C) markets throughout the U.S., has selected the ClarionDoor MGA Hub (CD MGA Hub) to handle the companys commercial general liability and property business.
  • The CD MGA Hub is a technological breakthrough that enhances the MGA experience by utilizing a simple interface to connect MGAs with multiple insurance companies in real-time.
  • Breckenridge Insurance Services (Breckenridge) is a national wholesale insurance brokerage/MGA delivering top-rated, competitive commercial coverage solutions.
  • ClarionDoor is disrupting how the insurance industry distributes insurance via an API-first, cloud native, intelligent product distribution platform where you can rate, quote, bind, issue, and track business performance.

KBRA Assigns Ratings to Knight Insurance Group’s Key Operating Subsidiaries

Retrieved on: 
Wednesday, July 1, 2020
Finance, Consulting, Banking, Professional services, Insurance, Economy, Insurance, Finance, Types of insurance, Insurance industry, Reinsurance, Commercial general liability insurance, RLI Corp., Argo Group

Kroll Bond Rating Agency (KBRA) assigns insurance financial strength ratings (IFSR) of A- to the insurance subsidiaries of the Knightbrook LLC: Knight Insurance Company, Ltd. (KIC); Knight Specialty Insurance Company; KnightBrook Insurance Company; and Guilderland Reinsurance Company.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns insurance financial strength ratings (IFSR) of A- to the insurance subsidiaries of the Knightbrook LLC: Knight Insurance Company, Ltd. (KIC); Knight Specialty Insurance Company; KnightBrook Insurance Company; and Guilderland Reinsurance Company.
  • KIC is a Cayman Islands company and the lead member of the Knight Insurance Group (Knight), which provides underwriting capability for niche insurance program business.
  • The groups primary lines of business include commercial auto liability, commercial general liability, specialty insurance and general liability.
  • Knights ratings are based on its improved operating metrics driven by strong surplus growth since 2015.