Markets/Coverage News

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 …

Verisk’s ISO Personal Lines Program Targets $40 Billion Private Flood Insurance Market

Things just got a bit easier for private personal lines insurance carriers wanting to enter the flood insurance market. Through its ISO subsidiary, data analytics firm Verisk has launched a new personal lines flood insurance program that is designed to …

AmTrust’s TapSafe Covers All of a Consumer’s Connected Devices with a Single App

A property/casualty insurer wants consumers to be able to easily locate and protect all of their tech devices with one app rather than having a warranty or service contract for each device. Specialty insurer AmTrust Financial Services launched its new …

Startup Auto Insurer Root Expands by 2 States, Pairs with Lyft on Rental Coverage

Startup telematics-based auto insurer Root is now offering rental coverage in partnership with ridesharing firm Lyft. For policyholders with short-term needs for alternate transportation after an incident, Root will now offer a choice between a rental car or a comparable …

Chubb Rolls Out New Business Owner’s Policy for Small Business

Chubb is rolling out a new business owner’s policy, Chubb BOP. Crafted for small businesses, Chubb BOP incorporates protection for property and liability exposures, a supporting umbrella liability product, and the option to add workers’ compensation, commercial auto, and management …

BHSI Expands into Transactional Liability Market with Underhill, 3 Others

Berkshire Hathaway Specialty Insurance (BHSI) reported that it has expanded into Transactional Liability Insurance in the U.S. and Canada and named Robert Underhill as senior vice president, head of Transactional Liability. The company also appointed Dan Crosby as vice president, …

Taking Stock of D&O Insurance Market: Capacity, Coverage and Culpability

The directors and officers (D&O) liability marketplace continues to find softening rates and intense competition especially in excess layers, according to industry executives. The industry is also seeing a continuing trend of broader coverages, cyber risk emerging as a management …

Maritime Program Group Launches Non-Admitted Homeowners Program

Maritime Program Group (MPG) has launched a new non-admitted homeowners program offered through its Private Client Services division. According Brian Botwinick, VP of Private Client services, the product is backed by Lloyds of London. The program is available nationally, including …

Progressive Insurance Snags Texas Uber Drivers Account

Uber Technologies Inc. will use Progressive Insurance to provide coverage for drivers in Texas beginning on Friday, in a pilot that could lead the ride-hailing market leader to diversify its U.S. insurance purchasing from its current sole provider, Uber and …

AXIS Healthcare Launches Pandemic Protection for Hospitals

AXIS Healthcare—the division of AXIS Insurance that provides professional liability insurance and associated standard casualty coverages for physician groups, hospitals, allied healthcare facilities and individual physicians—has launched a new medical catastrophe (contagion) business interruption product for hospitals. The coverage protects …