Should I Invest in Commercial Umbrella Insurance?

Here’s why your small business needs an umbrella insurance policy.Should I Invest in Commercial Umbrella Insurance? As a business owner, you probably know that liability issues are among the most serious risks that you face.  While you likely have some commercial liability protections in place, there’s no guarantee that this coverage is enough.  To ensure that your business isn’t left exposed by dangerous coverage gaps, you should secure a commercial umbrella policy to get the additional liability protection that you need.  Here’s what you need to know about this special type of coverage. What Does It Cover? Commercial umbrella insurance provides excess liability coverage for businesses.  When your business faces an extensive liability claim that your standard liability policy cannot cover, then your umbrella policy will kick in and offer the coverage that your business needs.  To see commercial umbrella insurance at work, imagine that a customer injures themselves while on your business’s property.  Chances are that this will turn into a major liability issue for your business.  If the cost of the claim exceeds the coverage limits on your standard liability policy, then your umbrella policy will step in.  Your umbrella insurance will cover the remaining cost of the claim and ensure that your business’s assets are not compromised.

Spotlight

Be Wiser Insurance

We are one of the UK’s fastest growing insurance brokers and we put this rapid growth down to two main factors. We always take the time and trouble to make sure that we find the best insurance cover to suit your individual needs, at the best possible price. Our highly trained and professional staff (all based at our offices in Andover, Hampshire and Swindon, Wiltshire) offer a warm and friendly service together with a wealth of insurance knowledge.

OTHER ARTICLES
Insurance Technology

Cloud Insurance Solutions Are Imperative for Insurers

Article | July 13, 2022

Insurance customers look for result-driven insurance services and products. To meet those demands and grow revenue, insurers need to move beyond conventional methods and envision their insurance business' customer interaction as aiding in the management of product and service deliveries. This necessitates a cloud-based strategy for future-ready operations. This is where the concept of cloud insurance comes into play. Insurers are receiving signals that the moment has come to invest heavily in the cloud ecosystem. But how? Read about it in the following points. The revenue landscape is shifting Investing in cloud infrastructure allows insurers to gain a competitive advantage in new revenue streams. In addition, it depicts a protected sphere where all the insurance business operations are risk-free, free of cyber risks and intrusions. Digital distribution appeals to customers and capital Customer-centric innovations, such as product distribution or cloud-enabled services, draw investors' attention. This results in increased revenue production. Why is There a Need for Cloud Insurance Solutions for Businesses? Insurance businesses face numerous obstacles in a continually shifting market position each day. As a result, insurance companies must primarily respond to the demanding and rising needs of customers. Cloud technology provides accurate solutions for the same. Let's look at the need for cloud solutions amid the trending approach. Customers expect personalized products, services, and experiences to support chosen communication channels like social media, a website, or a portal. Consequently, insurers need to improve their “speed to market” approach, which is possible through cloud technology and provide competitive products and services. Furthermore, sales growth remains under constant pressure. As a result, cost reduction is another eye-catching feature for insurance companies. By streamlining procedures and operations under one roof, decentralized, and digitalized, cloud insurance best suits to decrease costs and expenditure. Not to forget, globalization demands insurance businesses be more flexible and agile to win new markets and obtain new prospects. Cloud insurance infrastructure solutions are critical today and, in the future, to achieving all of these objectives. The Insurer’s Viewpoint is Critical for Success According to the report, leaders are more likely to use Cloud SaaSs, big data, AI and machine learning, and the Internet of Things (IoT). However, given the findings of the aforementioned study, it is clear that moving to the cloud is merely a baby step on a long journey of technological advancement. Cloud computing has emerged as a critical tool for digitization, and the significant challenges posed by the COVID-19 issue have highlighted the benefits of cloud computing." Peter Heidkamp, Head of Technology at KPMG. The Internet of Services and SaaS as a service is particularly appealing to insurance businesses when it comes to cloud insurance (SaaS). In addition, SaaS licensing options allow customers to obtain software to reduce internet and operational costs. The real use cases or benefits of the cloud are: Business scalability and flexibility Increased customer satisfaction Optimizing business processes Cost reduction Encourages business backups Cloud Insurance: A Wake-up Call for Opportunities Cloud technology and its solutions enable insurers to leverage cloud capabilities and resources to stay abreast with market developments. The technology meticulously encourages customized products and services on time, develops corporate networks, and implements new business processes with high revenue. However, adopting cloud solutions is not always an easy decision for insurers, but those that overcome security worries can reap the benefits of cloud insurance. Therefore, utilizing cloud solutions is a continuous journey that necessitates constant innovation and adaptability.

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Core Insurance, Risk Management

How technology will transform life insurance

Article | August 4, 2022

Do you know what the UK insurance industry is going through? A disruption that calls for complete metamorphosis. Not so different from what the whole world is going through at the moment. Crafting one-size-fits-all products and expecting them to sell like hotcakes is a huge misconception. Customers want products to be as personalised as possible. Pay per mile insurance or lower car insurance premiums for safe drivers are some examples. In the current global crisis, personalised life insurance would look like factoring in the unique health/ living conditions of the person and then providing insurance options.

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Insurance Technology

The economy is slowing down: what does it mean for insurance companies?

Article | July 19, 2022

Since 2010, as countries waded out of the recession of 2008, they enjoyed economic growth. Coupled with technological innovation, the global economy really got a boost. But, mirroring Nature’s cycles, it seems it is now time to hit a plateau and slow down. In this article, we explore why the slowdown could be happening and more importantly, what it means for us in the insurance industry.

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Insurance Technology

Rising to the challenge of core insurance transformation

Article | August 18, 2021

There is no doubt that we are living in an era in which insurers have been called to transform their business offerings, infrastructure and operations. Successful transformation translates into new revenue opportunities, stronger customer relationships and sustained brand relevance. However, this need to evolve cannot be addressed through superficial changes. Leading insurers are transforming their core offerings to completely reimagine their role in the insurance landscape. As the nominations and winners for the Efma-Accenture Innovation in Insurance Core Insurance Transformation award show, leading insurers are starting their core transformation at the top, and applying it to every touchpoint of the business. Nine pioneering nominees The nine nominees in the core insurance transformation category lead core insurance transformation in various innovations across their value chain. The nominations were: AXA for A.Iconic Claims Discovery for AI Quote RBC for their conversational AI Platform, driven by Personal Insights for Life Insurance Application Generali for their fund transaction through blockchain innovation FWD for the AI-Everywhere Smart Insurance Framework China Life Insurance for an intelligent value evaluation system for salesforce Multiasistencia for MACARENA, an innovative AI voicebot that provides100% automated First Notice of Loss in home insurance claims Humania for their ground-breaking income insurance for accident and disability claims Mapfre for Verbatims, a cognitive behavioural model that integrates live customer feedback As can be seen, by the nominees above, AI is a leading technology in core insurance transformation. In fact, every innovation used technology in fresh, structured ways to create a lasting impact on their business. Let’s look closer at the winners, and what their innovations say about how to lead core insurance transformation in 2021. Gold: Discovery Discovery are transforming the way brokers and clients engage with them through the introduction of their AI Quote service. Users are able to upload a PDF or pictures of competitor insurance and investment documents via phone or computer, and receive an equivalent Discovery quote in seconds. The entire journey can be completed in under a minute. Brokers can take the quotes to their clients and where a client has completed the direct journey, they will be called by a sales agent to discuss the specifics of the quote and close the sale. Romek Sadowski, Discovery Life’s Head of Technical Marketing says, “Ultimately, AI-powered optical character recognition (OCR) technology has been able to equip us with a seamless journey for clients, advisers and employees of the business as a whole. For clients, benefits include receiving a comparable quote in less than a minute and an improved understanding of Discovery’s products relative to the market. For advisers, key benefits include more accurate and consistent competitor comparisons, as well as a reduction in sales and quoting frictions. By automating the process of extracting data from policy documents and then converting it into comparable Discovery Life benefits, our advisers are able to spend less time on manual work and more time assisting our clients. AI Quote has also created opportunities for Discovery Life to incorporate digital tools into many of our existing processes and create a single, seamless, digital journey for advisers and clients alike. Additional innovations, such as Virtual Underwriting which allows clients to undergo underwriting from anywhere they choose, have been developed and are being refined in order to make this goal for a seamless digital journey a reality.” This is an important innovation in the South African insurance and investment landscape, which is highly developed and innovative, and characterised by frequent product updates and enhancements. While products are fine-tuned to meet customer needs, it’s difficult for brokers to keep track of various products in the market and how they compare from one competitor to another. Clients are also not in the position to understand how exactly their financial products compare against competitors. “The South African insurance industry is a complex environment with a vast array of sophisticated products. Financial advisers are faced with numerous competitors each with multiple products and options, resulting in countless different quoting combinations. By automating the comparison process, AI Quote simplifies the new business experience for both advisers and clients, increasing conversion rates and improving stakeholder satisfaction. AI Quote ensures that clients who have existing policies with our competitors are quoted comparable Discovery benefits and gives advisers confidence that they are providing clients with the best possible advice when comparing policies.” By removing sales frictions and automatically carrying out comparisons, Discovery’s AI Quote aims to enhance the company’s exposure to potential clients, attract brokers to sell Discovery products, improve the accuracy of replacements and promote Discovery’s brand as a market-leading innovator. With an efficient client- and broker-centric platform, Discovery has taken quoting to the next level. The potential for AI, however, is just beginning to be untapped. Romek concludes, “The insurance landscape is evolving, and we have seen an influx in microinsurance providers, direct-to-customer insurers and niche players in the market. When it comes to life insurance, clients are faced with a dauntingly large number of options – and that number is increasing. Within such complexity, manual processing of data in order to generate benefit comparisons is simply inefficient. A key benefit of AI is that it can complement or replace manual processes and allows for a far more streamlined user experience. Outside of the new business process, AI has displayed immense success in other areas such as customer service, underwriting and claims. Chatbots are now commonly used by insurers around the world to assist clients and answer their questions. Car insurance has been fundamentally changed through advancements in telematics. Big data is more readily available and, with the help of AI, can be utilised to make faster and more accurate pricing and underwriting decisions.” Silver: Generali Generali conducted a deep transformation in the way they transact with their counterparts and custodians through the use of blockchain technology. Generali France currently processes 250 thousand orders on funds (to cover unit-linked policies) per year through classical schemes via custodians. The aim is to generate a direct link with asset managers for trading shares of funds without using the costly transfer agent of custodians. With this transformation in mind, Generali France invested in a startup called Iznes, developing a trading platform on funds based on blockchain technology. With this as a foundation, Generali has begun to connect its IT and operations to the innovative platform. The innovation can serve all middle and back offices of investment departments and asset management companies. It crunches transaction costs and creates a direct link between the buy-side and the sell-side. The total cost of Generali Unit-linked orders is expected to drop by half, supposing that 50% of counterparts join the platform. Bronze: FWD Led by their customers’ needs and vision to change the way people feel about insurance, FWD Group Data developed a ‘Smart Insurance Framework’ which sees the business embarking on a ‘AI-everywhere’ approach. The platform has transformed the entire insurance journey for both their customers and employees with the use of advanced technologies and AI power. To create a simpler and smoother insurance experience for customers, FWD created a modern data architecture framework that improves operation efficiency internally and convenience externally. The Group Office Data Platform (GODP) streamlines and integrates all data into a single platform that is smart, secured and scalable. This platform allows business users to harness data, insights and run analytics across all our markets, to help support a spectrum of initiatives in FWD with data. The clever use of data allows FWD to evolve and predict customer responses more accurately, develop a better understanding of customer needs and behaviour, and in turn serve them better. As the nominees and winners show, the insurance industry is embracing technology to pre-empt, analyze and streamline customer, broker and employee experiences. We would love to hear how you are transforming your core insurance operations. Submit your core insurance innovation to the Efma-Accenture Innovation in Insurance Awards for 2022.

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Spotlight

Be Wiser Insurance

We are one of the UK’s fastest growing insurance brokers and we put this rapid growth down to two main factors. We always take the time and trouble to make sure that we find the best insurance cover to suit your individual needs, at the best possible price. Our highly trained and professional staff (all based at our offices in Andover, Hampshire and Swindon, Wiltshire) offer a warm and friendly service together with a wealth of insurance knowledge.

Related News

Core Insurance

Inszone Insurance Bolsters Missouri Presence with DeVoy Insurance Group Acquisition

Business Wire | October 10, 2023

Inszone Insurance Services, a rapidly growing national provider of commercial, personal, and benefits insurance, announced the acquisition of DeVoy Insurance Group, a well-established insurance agency deeply rooted in the community of Brookfield, Missouri. DeVoy Insurance Group is run by Blake DeVoy, whose family has a storied history in the insurance industry dating back to the early 20th century, DeVoy Insurance Group has been a trusted name in Brookfield. The DeVoy family's dedication to serving their community has spanned generations, epitomizing their commitment to excellence. In 1910, Blake DeVoy's great-grandfather embarked on his journey by establishing the first insurance agency in Brookfield, later selling the original DeVoy & Co. to another local agency. In 1982, Blake DeVoy's father cofounded an agency, a strategic decision that laid the foundation for the family's continued legacy in the insurance business. Blake DeVoy himself entered the insurance industry in 2002 at the age of 19, building upon his early experiences working in his father's office. His diverse background, which includes roles as an underwriter and claims representative, equipped him with a unique perspective and skill set to navigate the complexities of insurance, making him a valuable resource for clients and strong leader for his team. "We're delighted to integrate the DeVoy Insurance Group into the Inszone Insurance umbrella," remarked Chris Walters, CEO of Inszone Insurance Services. "Their impressive legacy and enduring dedication to their local community mirrors our own commitment. This step enhances our position in Brookfield and expands our influence throughout the state, highlighting our unwavering promise to offer the best service to our valued clients." When asked about his decision to merge with Inszone Insurance, DeVoy pointed out the ever-evolving insurance landscape and business environment. He continued, “I recognized the changing demands of the insurance climate and wanted to ensure that my clients received the highest level of service." Clients of DeVoy Group can expect to receive the same exceptional service they are used to, now bolstered by the added resources available through the Inszone brand. Inszone Insurance is expected to announce several significant acquisitions in the upcoming months as part of its ongoing efforts to expand its footprint on a national scale. About Inszone Insurance Services Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance and employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically and through acquisitions. With 44 locations across California, Arizona, Colorado, Illinois, Michigan, Missouri, Nevada, New Mexico, Oregon, Texas, and Utah, the company is looking to expand further throughout the United States.

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Core Insurance, Risk Management

Risk Strategies Acquires Benefit Design Group LLC

GlobeNewswire | August 31, 2023

Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced that it has acquired Benefit Design Group LLC, a retail agency specializing in health, life and retirement solutions. Terms of the deal were not disclosed. Based in Portland, Oregon and led by Joel Biernat and Dennis Warneke, Benefit Design Group (BDG) is an independent insurance agency specializing in health insurance solutions for businesses, individuals and seniors. With a client base across Oregon and Washington, the firm serves businesses seeking tailored employee benefits programs across a wide range of industries, including aged care, education, hospitality and manufacturing, as well as individuals and seniors. “As a national specialist in the increasingly complex world of employee benefits, we’re always seeking new partners who can add to both our geographic presence and expertise,” said John Greenbaum, National Employee Benefits Practice Leader, Risk Strategies. “It’s why we’re excited to bring Joel, Dennis and the BDG organization into the Risk Strategies family.” BDG offers a broad array of products to its individual and group insurance clients including medical, dental, life insurance, Medicare and Medicare Advantage plans, among others. BDG as constituted today, was formed in 2017 when Biernat merged the firm with Warneke’s company, The Warneke Group, LLC. That firm primarily specialized in providing services and products for employers offering group employee benefits to their employees. “We’re extremely excited to join Risk Strategies,” said Biernat, President, Benefit Design Group. “We know that being part of a true specialty brokerage with national scale will bring a myriad of benefits to our people, business and especially our clients.” The purchase of BDG adds to Risk Strategies’ presence in the Pacific Northwest. It builds upon the firm’s previous acquisition of the Fournier Group, a full-service commercial and personal lines retail insurance agency. About Risk Strategies Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles and San Francisco. RiskStrategies.com.

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Life Insurance, Insurance Technology

LIBRA Insurance Partners Announces Partnership with Highland Capital Brokerage

PR Newswire | August 29, 2023

LIBRA Insurance Partners (LIBRA), the largest independently-owned life insurance marketing organization (IMO) in the United States, announces a partnership with Highland Capital Brokerage (HCB), a national life insurance and annuity distribution company and a subsidiary of Osaic. "Highland Capital Brokerage is a formidable organization and we are excited they have selected LIBRA as their strategic partner to help facilitate its growth and expansion initiatives," said William (Bill) Shelow, CLU®, ChFC®, CPCU®, LLIF, president and CEO of LIBRA. HCB provides risk management strategies and solutions to help financial professionals protect and grow their clients' assets. As a national life insurance, annuity, disability, and longevity planning firm, HCB distributes these solutions across the wealth spectrum to both institutional and independent partners. "The partnership with LIBRA is an important step in Highland's evolution. Our diversified sales organization will rely on the vast array of carriers and their products to provide risk management solutions to our clients," said Teague Wright, president of Highland Capital Brokerage. "We look forward to taking advantage of the breadth of tools and resources this affiliation makes available." HCB is comprised of more than 300 employees nationwide with an exceptionally talented and tenured team. "I have enjoyed having an association in various capacities with Highland Capital Brokerage since its inception. They embody everything that LIBRA and our partners symbolize," said J. Craig Collins, executive vice president and chief relationship officer of LIBRA. "Teague and her senior leadership team have built a first-class organization and will greatly complement the markets we serve and the carriers we represent. Their interest in LIBRA further demonstrates the great value that we bring to our partner firms with our focus on delivering industry-leading tools and resources that support their efforts." Shelow added, "I believe this affiliation elevates the stature of both organizations." LIBRA Insurance Partners takes a true partnership approach with each of its valued relationships with the core belief in "the strength of many and power of one." With unique reinsurance ownership opportunities, agent retention programs, business development consulting, live training events and robust sales and marketing resources, the firm provides an unparalleled community of comradery and commitment to the success of each of its shareholders. By way of partnership, HCB further expands upon its expansive resources and capabilities with direct access to several additional proprietary advanced planning tools and benefits, including: exclusive facultative underwriting program with RGA Reinsurance Group of America, Incorporated (RGA) established relationships with an expanded lineup of affiliated carriers and reinsurers a dedicated medical director product white papers and benchmarking tools a proprietary quick quoting and informal processing platform About Highland Capital Brokerage (HCB) Highland Capital Brokerage is a national life insurance, annuity, disability, and long-term care distribution company providing point-of-sale support, advanced marketing, and creative estate- and business-planning techniques to financial advisors and insurance professionals. We deliver these services in an efficient, client-focused environment that extends to carrier and product expertise, underwriting negotiation, and complete back-office processing. Highland offers objective access to major insurance carriers, advanced planning support, expertise in risk underwriting, and back-office processing to insurance brokers, financial planners, and various institutions such as banks, wirehouses, and certified public accountant firms. To learn more about Highland Capital Brokerage, visit www.highlandbrokerage.com. About LIBRA Insurance Partners (LIBRA) LIBRA Insurance Partners is an insurance marketing organization dedicated to serving independent insurance producers, brokers, and financial institutions. Formerly known as LifeMark Partners and BRAMCO Financial Resources, and through the merger with Insurance Designers of America (IDA) in 2022, the firm exists to leverage strategic relationships, expertise, and innovation to expand life insurance distribution for the benefit of all stakeholders. LIBRA Insurance Partners is dedicated to the ongoing development and enhancement of resources to differentiate partner agencies from the competition. Its firms benefit from robust proprietary service offerings, unparalleled partnership, product expertise, and access to industry-leading technologies and tools, including expansive underwriting support resources. To learn more about becoming a LIBRA partner firm, visit  www.LIBRAInsurancePartners.com or call (410) 837-3022.

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Core Insurance

Inszone Insurance Bolsters Missouri Presence with DeVoy Insurance Group Acquisition

Business Wire | October 10, 2023

Inszone Insurance Services, a rapidly growing national provider of commercial, personal, and benefits insurance, announced the acquisition of DeVoy Insurance Group, a well-established insurance agency deeply rooted in the community of Brookfield, Missouri. DeVoy Insurance Group is run by Blake DeVoy, whose family has a storied history in the insurance industry dating back to the early 20th century, DeVoy Insurance Group has been a trusted name in Brookfield. The DeVoy family's dedication to serving their community has spanned generations, epitomizing their commitment to excellence. In 1910, Blake DeVoy's great-grandfather embarked on his journey by establishing the first insurance agency in Brookfield, later selling the original DeVoy & Co. to another local agency. In 1982, Blake DeVoy's father cofounded an agency, a strategic decision that laid the foundation for the family's continued legacy in the insurance business. Blake DeVoy himself entered the insurance industry in 2002 at the age of 19, building upon his early experiences working in his father's office. His diverse background, which includes roles as an underwriter and claims representative, equipped him with a unique perspective and skill set to navigate the complexities of insurance, making him a valuable resource for clients and strong leader for his team. "We're delighted to integrate the DeVoy Insurance Group into the Inszone Insurance umbrella," remarked Chris Walters, CEO of Inszone Insurance Services. "Their impressive legacy and enduring dedication to their local community mirrors our own commitment. This step enhances our position in Brookfield and expands our influence throughout the state, highlighting our unwavering promise to offer the best service to our valued clients." When asked about his decision to merge with Inszone Insurance, DeVoy pointed out the ever-evolving insurance landscape and business environment. He continued, “I recognized the changing demands of the insurance climate and wanted to ensure that my clients received the highest level of service." Clients of DeVoy Group can expect to receive the same exceptional service they are used to, now bolstered by the added resources available through the Inszone brand. Inszone Insurance is expected to announce several significant acquisitions in the upcoming months as part of its ongoing efforts to expand its footprint on a national scale. About Inszone Insurance Services Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance and employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically and through acquisitions. With 44 locations across California, Arizona, Colorado, Illinois, Michigan, Missouri, Nevada, New Mexico, Oregon, Texas, and Utah, the company is looking to expand further throughout the United States.

Read More

Core Insurance, Risk Management

Risk Strategies Acquires Benefit Design Group LLC

GlobeNewswire | August 31, 2023

Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced that it has acquired Benefit Design Group LLC, a retail agency specializing in health, life and retirement solutions. Terms of the deal were not disclosed. Based in Portland, Oregon and led by Joel Biernat and Dennis Warneke, Benefit Design Group (BDG) is an independent insurance agency specializing in health insurance solutions for businesses, individuals and seniors. With a client base across Oregon and Washington, the firm serves businesses seeking tailored employee benefits programs across a wide range of industries, including aged care, education, hospitality and manufacturing, as well as individuals and seniors. “As a national specialist in the increasingly complex world of employee benefits, we’re always seeking new partners who can add to both our geographic presence and expertise,” said John Greenbaum, National Employee Benefits Practice Leader, Risk Strategies. “It’s why we’re excited to bring Joel, Dennis and the BDG organization into the Risk Strategies family.” BDG offers a broad array of products to its individual and group insurance clients including medical, dental, life insurance, Medicare and Medicare Advantage plans, among others. BDG as constituted today, was formed in 2017 when Biernat merged the firm with Warneke’s company, The Warneke Group, LLC. That firm primarily specialized in providing services and products for employers offering group employee benefits to their employees. “We’re extremely excited to join Risk Strategies,” said Biernat, President, Benefit Design Group. “We know that being part of a true specialty brokerage with national scale will bring a myriad of benefits to our people, business and especially our clients.” The purchase of BDG adds to Risk Strategies’ presence in the Pacific Northwest. It builds upon the firm’s previous acquisition of the Fournier Group, a full-service commercial and personal lines retail insurance agency. About Risk Strategies Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles and San Francisco. RiskStrategies.com.

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Life Insurance, Insurance Technology

LIBRA Insurance Partners Announces Partnership with Highland Capital Brokerage

PR Newswire | August 29, 2023

LIBRA Insurance Partners (LIBRA), the largest independently-owned life insurance marketing organization (IMO) in the United States, announces a partnership with Highland Capital Brokerage (HCB), a national life insurance and annuity distribution company and a subsidiary of Osaic. "Highland Capital Brokerage is a formidable organization and we are excited they have selected LIBRA as their strategic partner to help facilitate its growth and expansion initiatives," said William (Bill) Shelow, CLU®, ChFC®, CPCU®, LLIF, president and CEO of LIBRA. HCB provides risk management strategies and solutions to help financial professionals protect and grow their clients' assets. As a national life insurance, annuity, disability, and longevity planning firm, HCB distributes these solutions across the wealth spectrum to both institutional and independent partners. "The partnership with LIBRA is an important step in Highland's evolution. Our diversified sales organization will rely on the vast array of carriers and their products to provide risk management solutions to our clients," said Teague Wright, president of Highland Capital Brokerage. "We look forward to taking advantage of the breadth of tools and resources this affiliation makes available." HCB is comprised of more than 300 employees nationwide with an exceptionally talented and tenured team. "I have enjoyed having an association in various capacities with Highland Capital Brokerage since its inception. They embody everything that LIBRA and our partners symbolize," said J. Craig Collins, executive vice president and chief relationship officer of LIBRA. "Teague and her senior leadership team have built a first-class organization and will greatly complement the markets we serve and the carriers we represent. Their interest in LIBRA further demonstrates the great value that we bring to our partner firms with our focus on delivering industry-leading tools and resources that support their efforts." Shelow added, "I believe this affiliation elevates the stature of both organizations." LIBRA Insurance Partners takes a true partnership approach with each of its valued relationships with the core belief in "the strength of many and power of one." With unique reinsurance ownership opportunities, agent retention programs, business development consulting, live training events and robust sales and marketing resources, the firm provides an unparalleled community of comradery and commitment to the success of each of its shareholders. By way of partnership, HCB further expands upon its expansive resources and capabilities with direct access to several additional proprietary advanced planning tools and benefits, including: exclusive facultative underwriting program with RGA Reinsurance Group of America, Incorporated (RGA) established relationships with an expanded lineup of affiliated carriers and reinsurers a dedicated medical director product white papers and benchmarking tools a proprietary quick quoting and informal processing platform About Highland Capital Brokerage (HCB) Highland Capital Brokerage is a national life insurance, annuity, disability, and long-term care distribution company providing point-of-sale support, advanced marketing, and creative estate- and business-planning techniques to financial advisors and insurance professionals. We deliver these services in an efficient, client-focused environment that extends to carrier and product expertise, underwriting negotiation, and complete back-office processing. Highland offers objective access to major insurance carriers, advanced planning support, expertise in risk underwriting, and back-office processing to insurance brokers, financial planners, and various institutions such as banks, wirehouses, and certified public accountant firms. To learn more about Highland Capital Brokerage, visit www.highlandbrokerage.com. About LIBRA Insurance Partners (LIBRA) LIBRA Insurance Partners is an insurance marketing organization dedicated to serving independent insurance producers, brokers, and financial institutions. Formerly known as LifeMark Partners and BRAMCO Financial Resources, and through the merger with Insurance Designers of America (IDA) in 2022, the firm exists to leverage strategic relationships, expertise, and innovation to expand life insurance distribution for the benefit of all stakeholders. LIBRA Insurance Partners is dedicated to the ongoing development and enhancement of resources to differentiate partner agencies from the competition. Its firms benefit from robust proprietary service offerings, unparalleled partnership, product expertise, and access to industry-leading technologies and tools, including expansive underwriting support resources. To learn more about becoming a LIBRA partner firm, visit  www.LIBRAInsurancePartners.com or call (410) 837-3022.

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