E&S | Jotup

Zimmer Financial Services Group Announces Sale of Carrick Specialty Holdings

Retrieved on:

星期一, 一月 8, 2024

Professional Services, Insurance, Finance, E&S, Sale, LP

Zimmer Financial Services Group (Zimmer), whose businesses include insurance and investment management, today announced the sale of its specialty legacy insurance provider, Carrick Specialty Holdings .

Key Points:

Zimmer Financial Services Group (Zimmer), whose businesses include insurance and investment management, today announced the sale of its specialty legacy insurance provider, Carrick Specialty Holdings .
Founded by Zimmer in 2019, Carrick quickly grew operations in the United States, United Kingdom, and Bermuda, establishing a strong record of deals in the legacy market.
Stuart J. Zimmer, Chairman and CEO of Zimmer Financial Services Group, commented, “The sale of Carrick represents another successful Zimmer investment in the insurance industry.
In addition to Ategrity Specialty Insurance Company , its excess and surplus (E&S) market insurer, its holdings include Iron Title Insurance Agency ; Bermuda-based Sequentis Reinsurance; and Zimmer Partners, LP, a research-driven, multibillion dollar investment adviser.

At-Bay Named in Business Insurance’s Annual Best Places to Work in Insurance

Retrieved on:

星期四, 十一月 16, 2023

Security, Professional Services, Technology, Insurance, Human Resources, MPL, Media, E&S, The Last Best Place, Luigi, CB Insights, Fintech, Cyber

“We are truly honored to be recognized by Business Insurance as one of the industry’s best places to work for the third year in a row,” said Kristie Felton, Head of Insurance at At-Bay.

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“We are truly honored to be recognized by Business Insurance as one of the industry’s best places to work for the third year in a row,” said Kristie Felton, Head of Insurance at At-Bay.
Best Places to Work in Insurance is an annual sponsored content feature presented by the Custom Publishing unit of Business Insurance and Best Companies Group that lists the agents, brokers, insurance companies and other providers with the highest levels of employee engagement and satisfaction.
Harrisburg, Pa.-based Best Companies Group identifies the leading employers in the insurance industry by conducting a free two-part assessment of each company.
The ranking and profiles of the winning companies will be unveiled in the November issue of Business Insurance and online at BusinessInsurance.com.

ValueMomentum Enhances Specialty & Commercial Lines Solution for Insurers on Guidewire Cloud

Retrieved on:

星期四, 十一月 9, 2023

Cloud, Risk, MPL, Insurance, E&S, D, Cyber, Automation, D&O, Guy-wire, Risk management

PISCATAWAY, N.J., Nov. 9, 2023 /PRNewswire/ -- ValueMomentum, a leading provider of IT services and solutions to the insurance industry, today announced an upgraded and expanded release of its specialty and commercial lines reference solution for the Guidewire Cloud Platform (GWCP).

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Expanded and Updated Solution Aims to Accelerate Implementations, Lower Costs, and Reduce Risk
PISCATAWAY, N.J., Nov. 9, 2023 /PRNewswire/ -- ValueMomentum, a leading provider of IT services and solutions to the insurance industry, today announced an upgraded and expanded release of its specialty and commercial lines reference solution for the Guidewire Cloud Platform (GWCP).
The upgraded and expanded reference solution builds upon Guidewire's industry-leading platform to enable commercial and specialty insurers to accelerate implementations with an array of accelerators while providing predictable delivery.
The reference solution includes the following amongst several other accelerators:
Support for commercial and specialty lines products, including MPL, Cyber, E&O, D&O, E&S, professional liability, management liability, and EPLI
Quick-start product definitions for select specialty lines coverages and exposures, associated forms inference, and underwriting rules
Intelligent intake automation for new business, renewals, and claims, including non-standard submissions
Library of use cases, traceability matrix, test scenarios and test cases, and intelligent automation solution for functional, system, forms, and rate testing
"Specialty and commercial lines offer a tremendous market opportunity for those insurers that can execute quickly," said Naren Sivakumar, Vice President at ValueMomentum.
"ValueMomentum's expanded specialty and commercial lines reference solution for Guidewire Cloud can help insurers to deploy Guidewire much more quickly while lowering costs and reducing risk."

Best’s Market Segment Report: AM Best Revises Outlook on Excess and Surplus Lines Insurance Segment to Positive

Retrieved on:

星期一, 十一月 6, 2023

Insurance, Professional Services, E&S, News, AM Best, Data, ALL, Freedom, Reinsurance

AM Best is revising its outlook on the excess and surplus (E&S) lines insurance segment to positive from stable, citing increased business due to declining capacity in commercial lines and some personal lines markets, along with strong underwriting results driving favorable operating profitability and strengthened capital positions.

Key Points:

AM Best is revising its outlook on the excess and surplus (E&S) lines insurance segment to positive from stable, citing increased business due to declining capacity in commercial lines and some personal lines markets, along with strong underwriting results driving favorable operating profitability and strengthened capital positions.
The Best’s Market Segment Report, “Market Segment Outlook: US Excess and Surplus Lines Insurance,” notes that admitted carriers continue to constrict their underwriting criteria, leading accounts to seek coverage in the E&S market.
Lines of business being cast off by admitted carriers include commercial auto and directors’ and officers’ liability.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

Despite Record Shareholder Proposals in the 2023 Proxy Season, Companies Should Brace for Even More in 2024

Retrieved on:

星期四, 十月 19, 2023

"Despite the decline in support for shareholder proposals in the 2023 proxy season, companies must prepare for more politically motivated proposals next year as the country heads into federal elections.

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"Despite the decline in support for shareholder proposals in the 2023 proxy season, companies must prepare for more politically motivated proposals next year as the country heads into federal elections.
Governance proposals received the most support: They received 29% average support in 2023, while social proposals received 17% and environmental proposals received 20%.
But fewer governance proposals passed: 16 governance proposals passed in 2023 compared to 31 in 2023.
Climate-related shareholder proposals continue to dominate environmental proposals: In 2023, 75% of environmental proposals focused on the climate compared to 73% in 2022.

Velocity Continues Strategic Expansion of its MGA Platform Acquiring Majority Stake in Insight Risk Technologies

Retrieved on:

星期四, 九月 28, 2023

Insurance, Business development, Risk, Water damage, Construction, Internet of things, Risk management, Appetite, Internet, Acquisition, Builder, Investment, E&S, Growth, Insight, Velocity

Nashville, TN, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Velocity HoldCo, LLC (“Velocity”), the holding company for Velocity Risk Underwriters, LLC, Velocity Specialty Insurance Company, and Velocity Claims LLC, and Insight Risk Technologies LLC ("Insight Risk") together announce Velocity’s acquisition of a majority stake in Insight Risk, a leading one-stop loss prevention and risk transfer solution provider for the Builder's Risk market.

Key Points:

Nashville, TN, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Velocity HoldCo, LLC (“Velocity”), the holding company for Velocity Risk Underwriters, LLC, Velocity Specialty Insurance Company, and Velocity Claims LLC, and Insight Risk Technologies LLC ("Insight Risk") together announce Velocity’s acquisition of a majority stake in Insight Risk, a leading one-stop loss prevention and risk transfer solution provider for the Builder's Risk market.
“We believe that Insight Risk is poised for remarkable growth, and Velocity is thrilled to be a part of their journey.
The completion of this acquisition of Insight Risk will infuse growth capital and provide additional capacity for Insight Risk and provide Velocity with a new diversifying line of business to its expanding specialty insurance platform."
Insight Risk, a technology-focused Builder's Risk MGA, offers integrated technology and insurance solutions for the Builder's Risk market, operating on both an admitted and non-admitted basis.

Skyward Specialty Expands Healthcare Appetite with Rebrand and Adds Individual Provider Coverage

Retrieved on:

星期一, 九月 18, 2023

Insurance, Health care, P&C, History, Malpractice, Individual, Investment, Physician, Allied health professions, E&S, Growth, Nursing

The healthcare landscape continues to present new challenges and opportunities for healthcare professionals, especially for individual providers and physicians.

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The healthcare landscape continues to present new challenges and opportunities for healthcare professionals, especially for individual providers and physicians.
The demand for this type of coverage has outpaced the insurance market’s capacity and capabilities, resulting in a growing need for bespoke solutions for healthcare professionals.
“We understand the critical role that individual providers and physicians play in the healthcare ecosystem.
The Company’s newly named Healthcare Solutions underwriting unit, formerly known as Allied Health, was established in 2021.

AmTrust Introduces Admitted Lawyers Professional Liability Policy

Retrieved on:

星期二, 九月 19, 2023

Legal, Professional Services, Insurance, Finance, ERISA, Interest, Hinshaw & Culbertson, GIG, Private law, Hinshaw, Admitted, Policy, Lead, AmTrust Bank, Risk, Risk management, E&S, LPL

AmTrust Financial Services, Inc., a global specialty property casualty insurer, today introduced a new Admitted Lawyers Professional Liability (LPL) policy from AmTrust PRO that offers flexible, customizable protection for mid-sized law firms.

Key Points:

AmTrust Financial Services, Inc., a global specialty property casualty insurer, today introduced a new Admitted Lawyers Professional Liability (LPL) policy from AmTrust PRO that offers flexible, customizable protection for mid-sized law firms.
“In today’s competitive and complex legal environment, even a small error or simple oversight by an individual attorney or a firm can escalate into a costly lawsuit,” said Tim Barrett, Vice President, AmTrust PRO.
As part of the new policy form, AmTrust has made a special effort to expand the definition of professional services provided for legal proceedings.
Other highlights of the policy include:
• Worldwide coverage for suits brought within the U.S.
Law firms that have primary coverage with AmTrust, as part of the new policy, will have access to Risk Management support from the national law firm Hinshaw & Culbertson LLP.

Pathpoint, Indium Announce New Partnership to Connect Agents to Quick and Easy E&S Placement

Retrieved on:

星期四, 九月 14, 2023

Lessor, Insurance, E&S, Risk, Partnership, Excess, Appetite, Aluminium, Property management, Indium

Owned and directed by independent agents, Indium provides resources agents need to thrive without giving up control of their business.

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Owned and directed by independent agents, Indium provides resources agents need to thrive without giving up control of their business.
"As we look at the insurance landscape, more and more agencies need ways to access E&S markets," said Katherine Ternes, CEO of Indium.
Indium is an industry leader in innovation and leveraging technology to drive agent outcomes, which made this partnership a natural fit."
Over 11,000 agents across the country use Pathpoint to place their small commercial E&S coverage business.

Independent Agents Access Top E&S Carriers through First Connect and Pathpoint Partnership

Retrieved on:

星期一, 九月 11, 2023

Policy, E&S, Small business, Book, Partnership, Online shopping, Distribution (marketing)

This collaboration will make placing small commercial E&S faster and easier than ever before for First Connect agents.

Key Points:

This collaboration will make placing small commercial E&S faster and easier than ever before for First Connect agents.
"Commercial lines have become an increasingly important growth channel for independent agents in light of the current personal lines market," said First Connect President Aviad Pinkovezky.
"By partnering with Pathpoint we're providing First Connect agents with easy-to-use E&S products to better meet the unique need of small business owners."
Pathpoint makes it simple and efficient for independent agents to find the right E&S coverage for their small commercial clients.