The Council of Insurance Agents & Brokers (The Council), in collaboration with global professional services firm, EY, today released The State of Commercial Insurance. This new report shares insights from the primary players in the commercial insurance ecosystem – carriers, brokers and policyholders (employers). The Council and EY conducted a survey of stakeholders to examine… Continue reading New Commercial Insurance Report from CIAB and EY Is Out
Tag: commercial insurance
Hub Expands Commercial and Personal Insurance Capabilities with Acquisition of Compass Insurance Services
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Compass Insurance Services, Inc. Terms of the transaction were not disclosed. Headquartered in Kronenwetter, Wisconsin with seven additional locations, Compass Insurance Services is a full-service, independent insurance agency providing commercial and personal insurance,… Continue reading Hub Expands Commercial and Personal Insurance Capabilities with Acquisition of Compass Insurance Services
Price Increases Moderated Slightly at the Beginning of 2022: CIAB
Premiums continued to increase in the first quarter of 2022, according to results from The Council of Insurance Agents & Brokers’ Commercial Property/Casualty Market Index, marking the 18th consecutive quarter of premium increases. However, there were signs that market conditions may have eased slightly this quarter. For example, the average increase in premiums across all… Continue reading Price Increases Moderated Slightly at the Beginning of 2022: CIAB
Lloyd’s of London AGM Goes Virtual on Activist Threat
Commercial insurance market Lloyd’s of London is encouraging members of its 100-odd syndicates to attend its annual general meeting next week online rather than in person, due to the threat of climate protests. Since Lloyd’s sent out invitations for the May 19 AGM on April 19, “the risk of disruption has significantly increased”, Chairman Bruce… Continue reading Lloyd’s of London AGM Goes Virtual on Activist Threat
InsurTech Sayata Raises $35 Million in Series A Funding for Business Insurance
Sayata, an insurance broker and carrier marketplace, raised an extra $35 million for its Series A round after receiving $17 million in August. The extension was spearheaded by Pitango Growth and Hanaco Ventures, with prior investors Team8 Capital, Vertex Ventures, Elron Ventures, and OurCrowd joining in. The fresh capital comes after the Boston-based company’s revenue… Continue reading InsurTech Sayata Raises $35 Million in Series A Funding for Business Insurance
Hippo Launches Homeowners Association Insurance Offer
Hippo, the home insurance group that created a new standard of care and protection for homeowners, today announced its expansion into Commercial Insurance. Since Hippo brought its proactive approach to home insurance customers in 2017, the company’s focus has been on whole home protection. For the first time, Hippo will offer insurance products that are… Continue reading Hippo Launches Homeowners Association Insurance Offer
Zywave Acquires Modgic, Provider of Workers’ Comp & Mod Analysis Software
Insurance technology provider, Zywave, today announced the acquisition of Bend, Oregon-based Modgic, a provider of workers’ comp and mod analysis software for the commercial insurance industry. Combined with Zywave’s existing commercial solutions, the acquisition strengthens Zywave’s portfolio of offerings in that market. “The acquisition of Modgic is an exciting step as Zywave continues to consolidate… Continue reading Zywave Acquires Modgic, Provider of Workers’ Comp & Mod Analysis Software
Next Insurance Announces Tailored Commercial Property Coverage for Small Business Owners
Next Insurance, the leading digital insurtech company transforming small business insurance, today announced a significant milestone in its journey to become the one-stop-shop for business owners across the US. The availability of commercial property is the final step necessary to provide full comprehensive coverage via the Next Insurance platform. Bolstering its already existing tools and… Continue reading Next Insurance Announces Tailored Commercial Property Coverage for Small Business Owners
Willis Towers Watson Launches Radar Workbench for Commercial Underwriting
Willis Towers Watson, a leading global advisory, broking and solutions company, has launched Radar Workbench, new software technology that will transform the performance of frontline underwriters, allowing them to make better decisions at pace and with confidence. Big data, advanced analytics and artificial intelligence (AI) continue to evolve and are recognized by commercial insurers as… Continue reading Willis Towers Watson Launches Radar Workbench for Commercial Underwriting
QBE North America Launches Custom Property for Mid-Size Companies
QBE North America today announces its new QBE Custom PropertySM product, offering state-of-the-art coverage based on feedback from brokers and customers as well as a comprehensive market analysis supported by artificial intelligence. As a result, the product takes a highly modular approach that gives brokers and QBE underwriters the unique ability to precisely tailor a… Continue reading QBE North America Launches Custom Property for Mid-Size Companies