Markets/Coverages: Corvus Expands Tech E&O; K2 OCONUS Workers Comp for Government Contractors; Xceedance’s MGA Agility Suite

February 8, 2024

Corvus Insurance introduced a newly expanded Tech E&O product with an enhanced appetite backed by Travelers. Smart Tech E+O from Corvus provides creative risk solutions for technology businesses across the spectrum of size and complexity, including primary and excess policies.

“With an increased appetite, Corvus’s expert underwriting team can leverage the full extent of their skills and experience to reliably find solutions for not only the SME segment, but for larger and more complex clientele as well,” said Mike Karbassi, chief underwriting officer at Corvus.

Policyholders will get the added protection of Corvus Signal, the risk prevention solution that includes on-call risk advisors and tailored threat alerts.

K2 OCONUS Defense Base Act Program With Nationwide

A new Defense Base Act (DBA) insurance program has been launched by K2 OCONUS, a division of K2 Insurance Services, with Nationwide’s excess & surplus/specialty business serving as the underwriter. The program will provide workers’ compensation coverage for U.S. government contractors working overseas, especially in high-risk areas.

The program is now live and open to U.S. government contractors working abroad in any industry, including construction, engineering, logistics, security, and humanitarian aid.

The Defense Base Act (DBA) is an extension of the Longshore and Harbor Workers’ Compensation Act (LHWCA). This act provides disability compensation and medical benefits to employees and death benefits to eligible survivors of employees of U.S. government contractors who perform work overseas.

Xceedance Launches MGA Agility Suite

Xceedance has started its MGA Agility Suite under the leadership of Michael Parcelli as senior vice president and head of the MGA business. Designed to revolutionize the way program administrators, managing general agents (MGAs), and managing general underwriters (MGUs) operate, the suite provides comprehensive digital solutions to enhance market presence, underwriting processes, and operational efficiencies.

Key features of the MGA Agility Suite include:

  • Platform Integration: Quick market entry and scalability while fostering continuous innovation and minimizing ownership costs.
  • Technology Integration: Digitized and strengthened end-to-end processes, bolstering core operations for sustainable growth.
  • Licensed MGA Shell: A nationally licensed MGA for admitted and non-admitted markets to enable a cost-effective market entry point supported by fully integrated policy and claims management platforms.
  • Data Integration: Transformation of data into actionable insights with high-quality data migration, enrichment, and governance.
  • Operations Services: Comprehensive strategic support across the insurance lifecycle, including underwriting, policy administration, claims management, and more.

As a trusted partner, Xceedance offers holistic support in technology adoption, analytics, claims management, and policy administration.

Topics Lawsuits InsurTech Workers' Compensation Tech Insurance Wholesale Contractors

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