Program Business News

Markets/Coverages: HUB International Launches Platform to Manage Insurance Needs of Franchisors, Fanchisees

HUB International Ltd. (HUB), the Chicago-based insurance brokerage and financial services firm, announced the launch of HUB Franchise Insurance Solutions, a digital platform to help franchisors and franchisees manage their insurance needs in one location. With HUB Franchisee Insurance Solutions, …

R&Q Announces Capital Raise of $50M-$60M, Completes Reorganization

R&Q Insurance Holdings, (R&Q) the non-life speciality insurer that focuses on program management and legacy insurance business, announced a capital raise of $50 million to $60 million. In addition, it has completed a planned reorganization to separate Accredited (its program …

AM Best Places Ratings of R&Q and Subsidiaries Under Review with Neg. Implications

AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of R&Q Insurance Holdings’ three wholly owned program management subsidiaries: Accredited Surety and Casualty Co. …

R&Q Weighs Separation of Program Management and Legacy Insurance Businesses

R&Q Insurance Holdings Ltd., the non-life global specialty insurance company that focuses on program management and legacy insurance businesses, announced that the board of R&Q is reviewing strategic options to separate these businesses. R&Q said its Program Management business, Accredited, …

NSM Insurance Adds 3 Medical Stop Loss, Managed Care Specialty Firms

Pennsylvania-based insurance program specialist NSM Insurance Group has completed its acquisition of three businesses that specialize in the field of medical stop loss insurance and managed care insurance. The firms are Sequoia Reinsurance Services in Minnesota, and IOA Re’s two …

Program Manager McNeil, New York Cannabis Industry Form Workers’ Comp Group

Insurance program manager McNeil & Co. and the Cannabis Association of New York (CANY) are forming a workers’ compensation safety group for the New York cannabis industry. The two said the New York State Insurance Fund (NYSIF) recently gave initial …

Markets/Coverages: WTW Partners With Falvey Cargo on Cyber; Boost and Breach Offer Crypto Wallet Cover; Umbrella From Distinguished Programs Serves Real Estate, Community Associations

WTW Partners With Falvey Cargo Underwriting for Affirmative Cargo Cyber Coverage Insurance broker Willis Towers Watson is partnering with Falvey Cargo Underwriting on an affirmative cyber coverage product for cargo and stock throughput risks. WTW said the new product recognizes …

People Moves: Hartford Names Burns to Lead Marketing/Comms; Beazley Promotes Beerli for Specialty Risks, U.S. Programs; Purtill Is CRO at AIG

Hartford Names Burns as Head of Marketing and Comms, Succeeding Bromage The Hartford has appointed Claire Burns chief marketing and communications officer, effective Sept. 1. Burns will report directly to Chairman and CEO Christopher Swift. She succeeds Kathleen Bromage, who …

Swiss Re Corporate Solutions Bolsters International Programs’ Team with 2 Promotions

Swiss Re Corporate Solutions has promoted William Porter as head International Programs Americas, and Reto Collenberg as head International Programs APAC and EMEA, both effective Aug.1. Together they will oversee Swiss Re Corporate Solutions’ International Programs business and market strategy …

Aspen’s Bonds Joins CRC as Chief Officer for Property Programs

National wholesale broker CRC Group announced that Alex Bonds has joined the company as chief officer for Property Programs to lead CRC’s exclusive Insurisk brand’s property facility development. Bonds joins the CRC Group team from Aspen Insurance where he was …