Markets/Coverages News

Colombia’s Insurance Regulator Approves Use of AIR’s Earthquake Model

Catastrophe modeling firm AIR Worldwide (AIR) announced that its earthquake model for Colombia has been approved by the country’s insurance regulator, the Superintendencia Financiera de Colombia, for use by domestic insurance companies in managing their earthquake risk. “The Colombian government …

Florida-based American Integrity Launches Golf Cart Insurance

American Integrity Insurance Co., a Florida-based insurance provider, has launched a standalone golf cart insurance program. The American Integrity golf cart insurance policy will have similar coverage types that are often seen in an auto insurance policy with protections such …

Ironshore Forms Oil & Gas Facility for Middle Market Energy Sector

Ironshore Specialty Casualty has formed Ironshore Energy Solutions, a dedicated oil & gas facility, offering liability coverages for on-shore middle market energy classes in the United States. Ironshore Insurance Services LLC, its specialty managing general agency, will deliver capacity to …

Palomar Specialty Launches Residential Flood Program in California

Palomar Specialty Insurance Co. has launched Flood Guard, a private flood program in California that uses an advanced and granular proprietary rating system. Palomar used catastrophe modeling firm AIR Worldwide’s probabilistic flood model for the United States in its rate …

International Drone Racing Association Launches Primary Coverage for Drone Pilots

I The International Drone Racing Association (IDRA) has launched a primary UAV aircraft liability insurance policy to cover drone pilots worldwide. Included with the rollout of IDRA’s membership service, each IDRA member will be insured, with a $1 million UAV …

Talbot Launches Enhanced Terror Facilities for Singapore, LatAm, Dubai

Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., announced the launch of three enhanced Lloyd’s-led terror facilities in the Singapore, Latin American and Dubai markets. In response to the increasing demand for this distinctive coverage, these facilities …

Safety National Adds Workers’ Compensation, Captive Services Products

Safety National Casualty Corp. has added two new offerings to its suite of products: large guaranteed cost workers’ compensation and captive services. Safety National’s large guaranteed cost workers’ compensation offering targets large employers in need of a first-dollar program. The …

Gallagher Launches Manufacturers’ Cyber Solution to Close Coverage Gaps

Arthur J. Gallagher announced it has responded to the “perfect storm” facing manufacturers – a rising risk of cyber attacks, coupled with increased vulnerability and largely excluded exposures – by designing a tailor-made policy to more effectively transfer their unique …

SIU Expands Active Shooter Insurance Program to Include New Classes, Risks

Southern Insurance Underwriters, Inc. (SIU) has expanded its insurance product active shooter program for educational institutions to include most businesses and facilities accessible to the public, such as: Healthcare facilities Religious houses of worship Entertainment venues and events Retail (including …

Assurant to Offer Liability Coverage for Vacation Rental Owners

Assurant has partnered with Vacasa, a U.S. vacation rental management company, to provide liability coverage and property insurance for Vacasa’s homeowners. Assurant’s short-term accommodations protection program will be available to the more than 4,600 U.S. homeowners in the Vacasa network, …