Program Business News

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 …

Ambac Financial Launches Specialty Insurance Group Everspan

Financial holding company Ambac Financial Group has launched Everspan Group, capitalized with more than $100 million, to focus on writing specialty program insurance business. Everspan Group’s insurance companies include two Arizona-domiciled entities: Everspan Indemnity Insurance Co., an excess and surplus …

K2 Financial Receives Additional Capacity from Chaucer

K2 International (K2), the specialty insurance and reinsurance underwriting platform, announced it has secured additional capacity support from Chaucer, the specialty re/insurance group. The agreement, which is effective from Nov. 1, 2020, will allow K2 Financial to provide significant capacity …

New Guy Carpenter Unit Serves Carriers, MGAs in Program Business Market

Global reinsurance broker Guy Carpenter & Co. has started a new dedicated unit to provide services to insurance carriers and managing general agencies (MGAs) operating in the program business market. The new unit, GC Access, offers a range of services …

K2 Insurance Services Launches International Re/insurance Platform in London

K2 Insurance Services, the underwriting and distribution specialist in the U.S. program insurance market, announced the launch of K2 International, a specialty insurance and reinsurance underwriting platform, based in London. K2 International has been created through the acquisition of Pioneer …

One80 Intermediaries Acquires Ohio’s International Excess Program Managers

One80 Intermediaries (One80), a national wholesale insurance broker and program manager headquartered in Boston, has acquired Beachwood, Ohio-based International Excess Program Managers (IEPM), a wholesale insurance brokerage and program manager operating in all 50 states. Terms of the deal were …

Program Underwriters Seek ‘New, New’ Spaces While Administrators Embrace Insurtech

Fueled by efficiencies introduced by insurtechs and underwriters’ interest in niche classes, the insurance program business has experienced impressive growth the last few years. But heavy interest is also forcing program administrators to think outside the box in order to …

Program Manager Victor O. Schinnerer Rebrands as Victor US

Insurance program manager Victor O. Schinnerer and Co. has rebranded as Victor US. The announcement completes the larger global unification and rebranding of The Schinnerer Group to Victor Insurance Holdings that was begun in 2018. Last month, as part of …

Venture Insurance Programs Creates Small Business Online Platform

Venture Insurance Programs, a national insurance program administrator, has unveiled Venture Small Business – a new business unit designed to simplify how agents and brokers quote and bind business for more than 150 classes of business. According to Phillip J. …

Service American Names Risk Transfer Insurance Agency as New Program Partner

Austin, Texas-based Service American Indemnity Co. (SAIC), national provider of program services, has added Risk Transfer Insurance Agency as the newest partner to support its continued national growth in workers’ compensation. Risk Transfer Insurance Agency (RTIA) is a full-service commercial …