Articles by Andrew G. Simpson

Investors Back Trov, On-Demand Platform for ‘Insurable Moments’ and Items, with $39M

Investors have pledged $39 million for a technology platform that allows consumers to insure their valuable things and turn the coverage on and off whenever they want with swipe of a finger on their smartphone. In the words of the …

AIG, Hamilton, Two Sigma to Launch Small-Medium Business Insurance Joint Venture

American International Group, Bermuda-based Hamilton Insurance Group and affiliates of hedge fund firm Two Sigma Investments said they have agreed to create a technology-enabled insurance platform for sales to the small to medium-sized enterprise (SME) market. The announcement said the …

Fallout from Travelers CGL Cyber Ruling: Insurance Buyers and Sellers Beware

Experts are cautioning both insurance buyers and sellers not to overreact to the recent federal court decision finding data breach defense coverage under a commercial general liability (CGL) policy. Experts are cautioning both insurance buyers and sellers not to overreact …

Employers Pay As 32% of Opioid Prescriptions Are Abused: Report

Nearly one out of every three (32 percent) opioid prescriptions, which are subsidized by America’s employers, is being abused, according to a report by a healthcare data and technology company. San Francisco-based Castlight Health Inc. released the study, “The Opioid …

K2 Acquires MGA; Launches Comp, Accident Programs with QBE

Program specialist K2 Insurance Services (K2) has acquired New Jersey-based High Point Underwriters, a managing general agency (MGA) specializing in workers’ compensation alternatives. K2 also launched a nationwide workers’ compensation program with another Kentucky program manager and QBE North America. …

Federal Court Rules CGL Insurance Covers Data Breach

A federal appeals court in Virginia has upheld a lower federal court in ruling that a commercial general liability policy (CGL) may cover a data breach. In a case involving the publication of private medical records on the internet, the …

Travelers Predictive Model Helps Injured Workers Avoid Chronic Pain, Opioid Use

The country’s largest workers’ compensation insurer said it has developed a model to predict the likelihood of an injured worker developing chronic pain. The model can them help the workers take steps to avoid chronic pain in recovery and reduce …

K2 Insurance Acquires MGA, Launches Workers’ Comp, Accident Program with QBE

Program specialist K2 Insurance Services (K2) has acquired a New Jersey managing general agency specializing in workers’ compensation alternatives and also launched a nationwide workers’ compensation program with another Kentucky program manager and QBE North America. K2, which was formed …

Uncertainties Outweigh Growth Benefits When P/C Insurers Take On Too Much Cyber Risk, Rating Agency Warns

If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty within many industries, and thus “aggressive expansion” by insurers …

Zurich Completes Acquisition of RCIS Crop Insurance Business from Wells Fargo

Zurich American Insurance Co. said it has completed its acquisition of Rural Community Insurance Agency (RCIA) and its subsidiary Rural Community Insurance Co. (RCIC) from Wells Fargo Insurance for $700 million. The two crop businesses, which are collectively known as …