Markets/Coverage News

Dubai’s IGI Bermuda to Begin Writing E&S in U.S.

Dubai, United Arab Emirates-based International General Insurance Holdings said that its Bermuda subsidiary, International General Insurance Co., has been granted provisional approval to begin writing U.S. excess and surplus lines business effective April 1, 2020. The company said the approval …

Gemini, Seeing Insurance As Key to Future of Virtual Currency, Starts Own Captive

U.S. virtual currency firm Gemini Trust Company announced on Thursday that it has launched its own insurance unit to boost coverage against theft of crypto assets. Gemini’s new in-house insurer, Bermuda-based Nakamoto Ltd, provides a total of $200 million in …

Farmers Expands Program, Now Insuring Uber Drivers in 14 States and D.C.

Farmers Insurance has expanded its relationship with Uber by providing commercial automobile insurance to its ridesharing drivers in 12 additional states and the District of Columbia. In addition to the District of Columbia, Farmers will insure Uber drivers in Delaware, …

Beazley, Marsh Launch Cyber Coverage Product for Manufacturers

Beazley and Marsh have partnered to provide tailored cyber insurance cover and breach response for U.S. manufacturers. The new Manufacturer’s First Response, a Marsh and Beazley Breach Response (BBR) initiative, offers coverages tailored specifically to address cyber and operational risks …

Gemini Trust Obtains Insurance for Customer’s Crypto Assets

Gemini Trust Co., the digital-asset exchange founded by Cameron and Tyler Winklevoss, said that it secured insurance for customers’ digital assets. The company obtained insurance coverage for virtual currency it holds on behalf of clients in online wallets, according to …

How the U.S. Cyber Insurance Market Is Performing: Aon Report

The number of U.S. insurers providing cyber insurance continues to grow along with instances of cyber attacks. In 2017, 170 U.S. insurers reported writing cyber insurance, up from 140 in 2016 and 119 in 2015, according to Aon’s latest U.S. …

Workers’ Compensation Insurer Stonetrust Enters Missouri, Tennessee

Workers’ compensation insurer Stonetrust Commercial Insurance Co. has begun writing business in Missouri and Tennessee. Stonetrust, which is headquartered in Baton Rouge, Louisiana, is also writing in Louisiana, Texas, Oklahoma, Arkansas, Mississippi and Nebraska — in addition to Missouri and …

Chubb Invests in Startup Bunker to Develop Gig Worker Insurance

Bunker and Chubb are working together to develop new insurance products focused on freelance workers. Chubb has also become a minority investor in Bunker, committing at least $2 million to the startup digital broker and its focus on the small …

Chubb Launches Coverage for Small Life Sciences Businesses

Chubb has launched new insurance coverage addressing property and casualty exposures for small life sciences companies. According to Jim Williamson, division president, Small Commercial Insurance, Chubb North America, small life sciences firms are vulnerable to a range of property and …

Hartford Steam Boiler Launches HSB Cyber Suite for Mid-Sized Businesses

Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, has introduced HSB Cyber Suite, a comprehensive cyber insurance coverage designed for small to mid-sized businesses and other organizations. Because there are multiple types of cyber risks, HSB …