Markets/Coverages News

Companies Let Most Technology Assets Go Unprotected: Aon/Ponemon

Cyber is one of the fastest growing risks for companies across the globe, and information technology assets are often as valuable as property assets, yet companies are only protecting 12 percent of those assets compared to 51 percent of tangible …

XL Launches Stand-Alone Automotive Parts Recall Policy

XL Group has launched a stand-alone automotive parts recall policy, a tailored product designed for suppliers in the automotive industry. The policy delivers a choice of coverage to respond to the increased exposures and liabilities related to automotive recalls. Recently, …

ACE Enhances Excess Casualty Coverage for Middle Market Companies

ACE Group has expanded its range of excess casualty corporate risk coverages to provide more extensive protection to middle market clients. The enhanced offerings, available for businesses with revenues up to $1 billion, include ACE’s new AB Umbrella Form, a …

WKFC Launches Property Program for $500 Million TIV Risks

WKFC Underwriting Managers, a part of RSG Underwriting Managers, has launched a new property program for risks up to $500 million in total insured value (TIV).The program is written on A-XI rated paper and is available in all 50 states. …

HSB Launches Enhanced Farm Equipment, Machinery Breakdown Coverage

The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, has launched a new farm equipment and machinery breakdown coverage with expanded insurance for mobile implements and the precision electronics that control them, among other enhancements. HSB’s …

Novamar Insurance Group Expands Yacht Program

Novamar Insurance Group, Inc. has expanded its Novamar Offshore Yacht Insurance program.  Yacht owners can now insure their vessels while cruising locally or around the world with an “A + rated” U.S. insurance company at competitive premiums.  The Novamar Offshore …

The Hanover Enhances Builders Risk Coverage

The Hanover Insurance Group, Inc. has enhanced its Hanover Builders Risk insurance coverage forms to offer more flexible, comprehensive coverages that better meet the needs of construction businesses nationwide. Hanover Builders Risk forms can be used for a variety of …

V3 Insurance Partners Launches Program for Auto Rental Industry

V3 Insurance Partners LLC has introduced Rental V₃antage, a new multi-line insurance program for the daily auto rental industry, including nationally franchised rental agencies and independent auto rental operators. Rental V₃antage is a guaranteed cost program written through an insurance …

IronHealth Launches Emerging Infectious Disease Business Interruption Coverage

IronHealth, the specialty healthcare unit of Ironshore Inc., has introduced an endorsement on excess policies for its emerging infectious disease business interruption coverage. The drop-down coverage option will reimburse insureds for business income loss as a result of an infectious …

Verisk Expands Wildfire Risk Service to 3 More States

Verisk Insurance Solutions has added Montana, Oklahoma and Wyoming to its FireLine wildfire risk management service. FireLine provides information to insurers to analyze wildfire risk at the individual address level. FireLine uses satellite data to assess the effects of the …