Markets/Coverages News

QBE Approved by Treasury for $73.5 Million in Surety Bond Capacity

QBE Insurance Corp. (QBEIC) has been approved by the United States Department of Treasury as a Certified Company with an underwriting limitation (also referred to as a Treasury Listing) of $73.5 million per bond. This builds upon a previously approved …

XL Catlin Updates Coverage for Design Professionals to Address Emerging Risks

XL Catlin has enhanced its design professional insurance policy form to address architects’, engineers’ and other design businesses’ changing professional liability insurance needs. According to Doug Strong, chief underwriting officer of XL Catlin’s Design Professional insurance business in North America, …

ProSight, Program Brokerage Corporation Launch Pest Control Program

ProSight Specialty Insurance has launched a new pest control program to be distributed by Program Brokerage Corporation (PBC), a wholesale insurance brokerage firm and the official endorsed broker of the National Pest Management Association (NPMA). The specialized insurance product expands …

LIU, Huntersure to Offer Transactional Liability Insurance

Liberty International Underwriters (LIU) and program administrator Huntersure LLC have partnered to offer transactional liability insurance. This program will offer coverages for representations and warranties, tax liability (including tax opinion and tax credit), and contingent liability. Underwritten by Huntersure and …

CompWest to Offer Workers’ Comp to Artisan Contractors in California, Utah

CompWest Insurance has launched workers’ compensation insurance for artisan contractors in California and Utah. The program targets artisan construction operations with annual premiums between $25,000 and $250,000 in California and $15,000 to $150,000 in Utah. CompWest provides workers’ compensation insurance in California and select Western states, targeting customers in healthcare, …

RMS Launches New Exposure Management Program on RMS Platform

RMS has launched a new exposure analytics product aimed at helping insurance reinsurance companies maximize value from their exposure data. The new Exposure Manager released on the RMS(one) platform, is now available to all insurance and reinsurance firms and brokers. …

Cat-Insurance Data Provider PERILS Expands Into Australia

PERILS, the independent Zurich-based company providing industry-wide catastrophe insurance data, has extended its market coverage to include Australia. PERILS now provides market-wide property sums insured that are exposed to the perils of bushfire, earthquake, flood, hail, and tropical and extratropical …

Hiscox Expansion of ILS Activity Includes New Collaterized Capability, Rebranding

Insurer Hiscox said it is building a collateralized reinsurance insurance linked securities (ILS) capability for launch on January 1, 2017, in addition to expanding its fully-fronted ILS fund structures. The expanded ILS team is being rebranded as Hiscox Re Insurance …

Atlas Insurance Management Secures Captive License in South Carolina

Atlas Insurance Management (Atlas), a Charlotte, N.C.-based captive insurance management firm, has received approval from the South Carolina Department of Insurance to act as an insurance manager for captive business in the state. Atlas is the first North Carolina-based captive …

Coastal American Insurance Rolls Out Private Flood Endorsement in Mississippi

Coastal American Insurance Co. has introduced a combined wind and flood insurance policy for policyholders in Mississippi. The new private flood endorsement is designed to eliminate disputes over concurrent causation, which often arise when storms hit coastal areas coverage according …