TIV

KBRA Affirms Ratings for Brotherhood Mutual Insurance Company

Retrieved on: 
Tuesday, August 1, 2023

KBRA affirms the A- insurance financial strength rating (IFSR) for Brotherhood Mutual Insurance Company (BMIC or Brotherhood Mutual).

Key Points: 
  • KBRA affirms the A- insurance financial strength rating (IFSR) for Brotherhood Mutual Insurance Company (BMIC or Brotherhood Mutual).
  • KBRA also affirms the long-term credit rating of BBB on BMIC’s outstanding surplus notes.
  • Brotherhood Mutual is a property/casualty company headquartered in Fort Wayne, Indiana.
  • Brotherhood Mutual’s management team is highly experienced and has a strong track record of growth and risk management.

LAAIA Elects 2023-2025 Board of Directors

Retrieved on: 
Friday, July 14, 2023

CORAL GABLES, Fla., July 14, 2023 /PRNewswire/ -- The Latin American Association of Insurance Agencies (LAAIA) announced today that it has elected its new Board of Directors for the 2023 through 2025 term.

Key Points: 
  • CORAL GABLES, Fla., July 14, 2023 /PRNewswire/ -- The Latin American Association of Insurance Agencies (LAAIA) announced today that it has elected its new Board of Directors for the 2023 through 2025 term.
  • He also serves as a member of the Coral Gables Emergency Management Division Board.
  • His previous work on the LAAIA board and his vast experience as both a business and community leader make him an excellent choice as President.
  • I'm confident that he will help LAAIA build on our momentum and help shape the future of our profession."

Capital Flows to Solar Power During the Energy Transition, an Industrial Info News Alert

Retrieved on: 
Friday, June 30, 2023

Conventional energy--refining, pipelines, production and terminals--combine for about $100 billion across the United States and Canada.

Key Points: 
  • Researched by Industrial Info Resources -- The energy transition is apparent in capital spending, with the bulk of state-level investments in the U.S. market targeting solar power, data show.
  • Industrial Info finds an estimated $880 billion in North America is going toward either renewable power and/or energy storage.
  • By source, as Industrial Info data show, the Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy, finds that solar is the leading source of new power generation this year.
  • Nationally, the Solar Energy Industries Association has more than 6,200 solar projects in its database, representing nearly 200 gigawatts (GW) of power.

Pathpoint Connects Insurance Agents Nationwide to Vave's Commercial Property Offering

Retrieved on: 
Tuesday, April 18, 2023

WASHINGTON, April 18, 2023 /PRNewswire-PRWeb/ -- Pathpoint, the digital, modern wholesaler where insurance agents can get bindable small commercial E&S quotes in minutes, today announces the expansion of its Commercial Property offering. The expansion centers around the addition of Vave's commercial property product to Pathpoint. Vave is an MGA and Lloyd's Coverholder that underwrites Surplus Lines US Property using a purely algorithmic approach, combining science, data, and precision underwriting to insure high-volume risk.

Key Points: 
  • WASHINGTON, April 18, 2023 /PRNewswire-PRWeb/ -- Pathpoint, the digital, modern wholesaler where insurance agents can get bindable small commercial E&S quotes in minutes, today announces the expansion of its Commercial Property offering.
  • The expansion centers around the addition of Vave's commercial property product to Pathpoint.
  • "We're excited to bring much-needed Commercial Property capacity to Pathpoint's extensive network of insurance agents," said Jamie Martin, Underwriting Director at Vave.
  • Pathpoint's expanded Commercial Property offering is now available to any licensed P&C insurance agent across the country binding business through Pathpoint.

Slide Acquires Florida Renewal Rights and Intellectual Property From UPC Insurance

Retrieved on: 
Wednesday, February 1, 2023

Slide Insurance , the full-stack insurtech focused on providing affordable, effective homeowners coverage, today announced it has acquired the exclusive renewal rights for over 91,400 Florida homeowners insurance policies from UPC Insurance , a property and casualty insurance company headquartered in Florida.

Key Points: 
  • Slide Insurance , the full-stack insurtech focused on providing affordable, effective homeowners coverage, today announced it has acquired the exclusive renewal rights for over 91,400 Florida homeowners insurance policies from UPC Insurance , a property and casualty insurance company headquartered in Florida.
  • Thereafter, Slide will issue renewal policies using Slide’s forms and rates, similar to what it did in the St. Johns transaction last year.
  • Early this month, Slide also announced that it opened in Florida for new business for the first time.
  • Slide also acquired UPC’s intellectual property and a dataset of over $1 trillion Total Insured Value (TIV).

IDC Forecasts Nearly 415 million Used Smartphones Will Be Shipped Worldwide in 2026 with a Market Value of $99.9 Billion

Retrieved on: 
Monday, January 9, 2023

International Data Corporation ( IDC ) estimates worldwide shipments of used smartphones, including officially refurbished and used smartphones, will reach 282.6 million units in 2022.

Key Points: 
  • International Data Corporation ( IDC ) estimates worldwide shipments of used smartphones, including officially refurbished and used smartphones, will reach 282.6 million units in 2022.
  • This growth is expected to continue as IDC forecasts used smartphone shipments will reach 413.3 million units in 2026 with a compound annual growth rate (CAGR) of 10.3% from 2021 to 2026.
  • Trade-in programs continue to be the driving factor for the new and used smartphone market globally.
  • However, a high-end inventory struggle due to elongated refresh cycles in the new market has used prices growing over 11% in 2022."

Universal Provides Hurricane Ian Update

Retrieved on: 
Tuesday, October 11, 2022

Universal Insurance Holdings (NYSE: UVE) (the Company) today provided an update on Hurricane Ian.

Key Points: 
  • Universal Insurance Holdings (NYSE: UVE) (the Company) today provided an update on Hurricane Ian.
  • To date, weve received approximately 18,000 claims, roughly half the number of Hurricane Irma claims received at this point.
  • Our substantial claims infrastructure, which includes over 800 claims, litigation and support professionals, has been able to handle the majority of Hurricane Ian claims in house.
  • Universal Insurance Holdings, Inc. (NYSE: UVE) is a holding company offering property and casualty insurance and value-added insurance services.

Archipelago Announces Two Industry Awards and Significant Platform Growth in First Half of 2022

Retrieved on: 
Thursday, August 18, 2022

The company has also seen explosive growth, now securely storing data for over 1.3 million buildings valued at over $9.5 trillion in total insured value (TIV).

Key Points: 
  • The company has also seen explosive growth, now securely storing data for over 1.3 million buildings valued at over $9.5 trillion in total insured value (TIV).
  • Were thrilled about the signal these awards send to the market, but there is nothing like the rapid adoption and confirmation of our business case.
  • It's kind of hard to imagine a renewal without Archipelago; it's been that big of a game changer for us.
  • The high-quality data generated through Archipelagos platform can be shared securely with stakeholders to deliver innovative services and solutions to their customers.

Archipelago and Advisen Release Annual Property Risk Management Report

Retrieved on: 
Thursday, June 9, 2022

SAN FRANCISCO, June 09, 2022 (GLOBE NEWSWIRE) -- Archipelago , an AI-driven technology platform that connects and transforms property risk data for large commercial property owners to deliver optimal insurance outcomes, and Advisen, Ltd ., a Zywave company, the foremost provider of data, media and technology solutions for the commercial property and casualty insurance market, today released their second annual Property Risk Management Report, surveying insurance buyers and risk professionals about their experience buying insurance for large commercial portfolios.

Key Points: 
  • SAN FRANCISCO, June 09, 2022 (GLOBE NEWSWIRE) -- Archipelago , an AI-driven technology platform that connects and transforms property risk data for large commercial property owners to deliver optimal insurance outcomes, and Advisen, Ltd ., a Zywave company, the foremost provider of data, media and technology solutions for the commercial property and casualty insurance market, today released their second annual Property Risk Management Report, surveying insurance buyers and risk professionals about their experience buying insurance for large commercial portfolios.
  • Statistical highlights from the annual report include:
    66% of those surveyed want more transparency into property insurance underwriting and pricing.
  • The survey was conducted during the first quarter of 2022 and was distributed to risk managers, insurance buyers and other risk professionals.
  • The data presented in the report focuses on responses from 187 risk managers who reported having a property portfolio greater than $100 million in total insured value (TIV).

Heritage Announces Full Placement of 2022-2023 CAT XOL Reinsurance Program

Retrieved on: 
Wednesday, June 1, 2022

"We are pleased with the execution and terms of our comprehensive reinsurance structure, including our ability to access capital markets as part of our 2022-2023 program through the first Citrus Re cat bond we have issued since 2017," said Heritage CEO Ernie Garateix.

Key Points: 
  • "We are pleased with the execution and terms of our comprehensive reinsurance structure, including our ability to access capital markets as part of our 2022-2023 program through the first Citrus Re cat bond we have issued since 2017," said Heritage CEO Ernie Garateix.
  • Heritage also reported that its catastrophe reinsurance program was fully placed without a need to take advantage of the new Reinsurance to Assist Policyholders (RAP) program that was authorized during last month's special session of the Florida Legislature.
  • Financial information, including material announcements about Heritage, is routinely posted on investors.heritagepci.com.
  • Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company.