Markets/Coverages News

Towergate Forms £30M, 5-Year Partnership with Yacht Specialist N&G (Zurich Unit)

Towergate and Navigators & General (N&G), a part of the Zurich Group, have signed a strategic partnership under which N&G will provide capacity and expertise for Towergate Marine products. Towergate Marine provides insurance for around 25,000 pleasure crafts including super …

South Carolina Approves Updated RMS North Atlantic Hurricane Models

Versions of global catastrophe risk management firm RMS’ North Atlantic Hurricane Models have been approved by South Carolina’s Department of Insurance for the purpose of residential rate filings. Approval for the hurricane model versions 15.0 and 15.0.1 was provided on July …

Endurance Global Risk Solutions Launches Environmental Liability Products

Endurance Specialty Holdings Ltd. has launched a new series of environmental liability insurance products, offering both primary and excess coverage for single sites or property portfolios. Endurance’s new products include a site environmental impairment liability product, which provides eight different …

Beazley Offers Revenue Protection Cover for UK Events Hit by Wet Weather

London-based insurer Beazley has launched “Cancellation Plus” for the event industry in the United Kingdom, offering event organizers revenue protection for reduced ticket sales and concessions when a specified amount of rainfall occurs at their event. Beazley said it provides …

Palomar Specialty Launches New Earthquake Product in Missouri

Palomar Specialty Insurance Co. has launched a new residential earthquake insurance product called Flex Choice for residents of Missouri. Flex Choice allows consumers to customize their residential earthquake coverage to meet their specific needs through a variety of coverage alternatives …

BHSI & Tego to Provide Medical Indemnity Cover for Doctors in Australia

Berkshire Hathaway Specialty Insurance Co. (BHSI) and Tego Insurance announced they have entered into an exclusive underwriting agreement to provide medical indemnity insurance to medical practitioners in Australia. “We are delighted to work with Tego to bring BHSI’s medical indemnity …

Zurich Extends Security, Privacy Coverage to Captives

Zurich Insurance has expanded its cyber insurance product to companies and their captives to protect against risks associated with data security breaches including cyber-related breaches. Zurich’s Security and Privacy Protection policy is now available to companies and their captives to …

Hanover Stone Partners to Offer Vendor Risk Management Program for Commercial Entities

Hanover Stone Partners, a risk management services firm, and accounting and advisory firm Baker Tilly Virchow Krause, LLP, have partnered on a vendor risk management services to help businesses and other commercial entities evaluate and manage cyber-risks and other exposures …

New Great American Endorsement Covers Use of Drug to Prevent Opioid Overdoses

Great American Insurance Group has launched a professional liability endorsement to cover the administration of Naloxone, a drug that counteracts opiates. The endorsement, offered through its Specialty Human Services Division, is designed to protect human and social service organizations that …

As Active Shooter Incidents Increase, Industry Addresses Coverage ‘Gray Area’

There’s a new insurance market emerging in light of a disturbing reality in today’s world – active shooter risks. The new coverage is meant to address a gray area in insurance policies that may leave insureds vulnerable to claims in …