National News

Amazon Begins Offering Its Virtual Health, Pharmacy Services to Other Businesses

Amazon.com Inc. is expanding its virtual healthcare service to other Washington-state employers starting Wednesday and to its own employees nationwide this summer, the company said in a press release. Piloted in September 2019 for staff near its Seattle headquarters, “Amazon …

Assessing Delegated Underwriting Authorities, MGAs: AM Best Explains

Over the last decade, as insurers and reinsurers have sought profitable opportunities for growth, they increasingly have handed the underwriting pen to managing general agents, managing general underwriters, program administrators and other underwriting agencies. These specialized distribution partners have not …

Swiss Re Corporate Solutions, Coalition Sign Multiyear Cyber Coverage Agreement

Swiss Re Corporate Solutions and Coalition, a provider of cyber insurance and security, have signed a multiyear agreement to provide broad cyber insurance and technology errors & omissions insurance to small and midsize organizations throughout the U.S. and Canada. Financial …

Analysis: SEC’s Crackdown on Climate Risk Disclosure Easier Said Than Done

With Democrats at the helm, the U.S. securities regulator is pledging to crack down on companies and funds that mislead investors over climate change risks, but that may be easier said than done, more than a dozen attorneys and former …

Next Insurance Targets Businesses That Sell and Buy on Amazon

In partnership with Amazon, digital small business insurer Next Insurance is offering insurance to businesses that are buyers or sellers on the popular Amazon e-commerce site. The insurer is targeting members of Amazon Business Prime that use Amazon as their …

Reuters Exclusive: Safety Regulators Reviewed Concerns Over GM Steering Sensor

U.S. automotive safety regulators reviewed evidence related to an allegedly defective steering sensor that was used in roughly 778,000 older General Motors Co vehicles but ultimately decided against opening a formal investigation into the matter. The National Highway Traffic Safety …

AM Best Plans to Assess MGAs, Other Delegated Authority Entities

With the volume of premium generated by managing general agents and other delegated underwriting authority enterprises (DUAEs) rocketing skyward in recent years, AM Best had decided it is time to deliver assessments of these entities. “What we’ve seen is really …

Cyber Insurance Firm Coalition Raises $175M; Plans Commercial Lines Expansion

Coalition, a cyber insurance managing general agency and security company, said it has raised $175 million to accelerate its growth and global expansion. The firm said it will use the funds to expand internationally as well as into other commercial …

Passengers Recall COVID Deaths, Confusion, Quarantine Aboard Cruise Ships

SAN FRANCISCO (AP) — The last vacation Margrit and Lucio Gonzalez took together began with an ominous delay: a medical emergency on the cruise ship they were set to board. After a four-hour wait, the couple of 51 years got …

People Moves: Institutes’ Horowitz; Rizzuto from Travelers to IAT; BHSI Adds AIG’s Freid; Ryan Re Leaders

Horowitz Promoted at The Institutes Katherine Horowitz has been promoted to executive vice president and head of Business Units at The Institutes. Horowitz will oversee the growth and strategic direction of multiple business units as well as continue to lead …

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