Markets/Coverages News

USAIG Launches Safety Program for Unmanned Aircraft Systems

United States Aircraft Insurance Group (USAIG) has introduced a safety program called Performance Vector Unmanned, created specifically for policyholders who insure unmanned aircraft systems. The new program aims to keep safety at the forefront, which is especially critical considering that UAS …

New IronPro Enhancement Covers Costs of Reissuing Compromised Credit Cards

IronPro, the financial and professional lines unit of Ironshore Inc., has introduced a compromised plastic card re-issuance expense coverage enhancement to its Enterprise PrivaProtector as a financial services sector product. According to the American Bankers Association, small community banks, defined …

CNA Unveils New D&O Liability Side A-DIC Insurance Policy

CNA has launched a new directors & officers (D&O) Lead Side A Difference in Conditions (DIC) policy. CNA developed this policy in response to the growing mergers and acquisition (M&A) trend within the insurance marketplace, as questions and concerns may …

Endurance Global Risk Solutions Adds Workers’ Comp Product

Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has launched a new workers’ compensation insurance product for its Global Risk Solutions clients. Global Risk Solutions, a new business line launched earlier this year …

NIF Group Launches Program for Luxury Homebuilders in 3 Western States

NIF Group, Inc., a program administrator and specialty brokerage firm, has created a program for luxury homebuilders and remodelers. NIF Insurance Services of California, a division of NIF Group, is in partnership with an A.M. Best rated ‘A’, carrier writing …

Beazley Doubles Environmental Risk Capacity to $50M with Lloyd’s Consortium

Beazley, the London-based provider of specialist environmental liability insurance, has doubled its capacity for operational and fixed site environmental risks to $50 million. Covering the environmental liabilities of large multi-national companies, the increased limits are backed by the Beazley Elements …

Caribbean Cat Facility, CCRIF, Pays Belize for Excess Rain From Hurricane Earl 

CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a pay-out of US$261,073 to the government of Belize as a result of heavy rains from Hurricane Earl on Aug. 4-5. Rainfall from the hurricane caused widespread flood damage to homes and …

AAIS Releases New Drone Coverage Forms, Rules Filings Ahead of FAA Regulations

The American Association of Insurance Services (AAIS), a non-for-profit national insurance advisory organization, announced new filings of Unmanned Aircraft Liability Coverage forms and rules in their Agricultural General Liability Program (AgGL), in response to consumer demand for coverage for unmanned …

RMS Releases Suite of Europe Inland Flood Risk Data to Open U/W Opportunities

RMS, the Newark, Calif.-based catastrophe risk management firm, has released a suite of Europe inland flood hazard data products. Describing the release as “the highest resolution view of the risk available on the market,” RMS said the data products include …

Hanover Launches Pay-As-You-Go Workers’ Comp Coverage

The Hanover Insurance Group, Inc. has launched a pay-as-you-go option for workers’ compensation policies that allows insureds to pay their premiums in real-time, based on payroll. The new payment option offers businesses the choice of paying their premiums as part of …