Businessowners policy News

Judge Finds Ransomware Damage to Computer a ‘Direct Physical Loss’

State Auto Property and Casualty Insurance Co. is liable for the cost of replacing a computer server that was damaged and perhaps permanently compromised by a ransomware attack despite the carrier’s argument that the business owner did not suffer a …

AAIS Gets Insurance Department Approval for CannaBOP in Colorado

The American Association of Insurance Services has received approval for its cannabis businessowners policy (CannaBOP) program from the Colorado Department of Insurance. AAIS announced it filed for approval of the program in Colorado earlier this month. AAIS first introduced CannaBOP …

Orchid Underwriters Expands Commercial Lines Programs into North, South Carolina

Orchid Underwriters, a specialty underwriter of excess & surplus insurance focusing on coastal properties, is expanding its commercial lines products into North Carolina and South Carolina. This is in addition to the current states of Florida, Louisiana, New Jersey, and …

ACE Takes 24% Stake in CoverHound’s Online Commercial Insurance Plans

CoverHound has raised $33.3 million in a financing round led by ACE Group, which the company plans to use to build an online commercial insurance platform starting with businessowners policy insurance offerings that could be available next year. San Francisco, …