AHT Insurance completes acquisition of Mason & Mason Insurance

AHT Insurance | July 14, 2020

AHT Insurance, a Virginia-based property and casualty brokerage and consulting firm, has today announced its acquisition of Mason & Mason Insurance (Mason). Mason, which has offices in Whitman, MA, and North Conway, NH, has been in business for more than 40 years, delivering P&C insurance programs to fit the needs of businesses and individuals. The brokerage has a focus on niche businesses and is recognized as a specialist service provider for venture capital, technology and life science firms. It is also one of the largest providers of insurance to custom home builders and remodelers in Massachusetts and is the managing agent for Builders and Remodelers Association of Massachusetts sponsored insurance program.

Spotlight

This video outlines scenarios where it may be appropriate to review and adjust your commercial insurance policies.

Spotlight

This video outlines scenarios where it may be appropriate to review and adjust your commercial insurance policies.

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RISK MANAGEMENT

Cowbell Cyber Announced Partner Program to Provide Policyholders with Closed-Loop Risk Management

Cowbell Cyber | February 04, 2021

Cowbell Cyber, the business' first AI-controlled cyber insurance supplier for small to mid-sized organizations (SMBs), today reported Cowbell Connect, its accomplice program which arms policyholders with complete, closed-looped risk management. Cowbell Connect joins an abundance of ability and assets from an assortment of accomplices to address perhaps the greatest danger to organizations: cyber episodes. Organizations have consistently been fundamental to Cowbell's capacity to quickly fabricate imaginative cyber insurance programs that nearby the insurability hole for policyholders and bring velocity, effortlessness and adaptability to policyholders and insurance dissemination. Cowbell Connect fortifies Cowbell's closed-circle way to deal with cyber risk management by packaging cyber inclusion with risk appraisal, evaluation, and moderation just as pre-and post-penetrate administrations. "The complex worlds of cybersecurity and insurance have traditionally operated in silos. Cowbell Cyber brings the two worlds together to make it easy for policyholders to understand where they stand against today's biggest cyber threats," said Isabelle Dumont, Vice President of Market Engagement at Cowbell Cyber. "Cowbell Connect brings together the richest partner ecosystem made up of partners and experts to enable closed-loop risk management from identification, quantification, remediation and financial protection." Cowbell Connect partners range from data aggregators, cybersecurity vendors and service providers to digital aggregators and risk mitigation services: Data Aggregators that contribute to Cowbell's ability to continuously assess risk. This includes Advisen, Dun & Bradstreet, DarkOwl which are augmenting Cowbell's own proprietary attack surface monitoring scanners. Cloud Providers that manage a significant infrastructure footprint for their clients such as email, collaboration tools, application services and computing capacity. This includes Microsoft 365, Azure, AWS and Google. Cowbell integrates with these partners through APIs to bring deep, timely cyber risk insights to policyholders and recommendations on how to improve their risk profile. Cybersecurity Platforms that manage and monitor specific aspects of a business security. This includes Qualys for vulnerability, compliance and container security; Safeguard for providing security and compliance to social media, collaboration and chat communication channels; and Security Studio for MSSPs. Training Providers, such as Wizer, that bring on-going security awareness training to insureds' employees and building the first line of defense against phishing email and ransomware attacks. Managed Service Providers that handle security for many businesses in the form of consulting services, managed services, or outsourcing. Incident Response Services that are part of our claim panels and bring expertise on ransomware incidents, forensic, legal and recovery activities in the aftermath of an incident. Digital Platforms and Ecosystems: Cowbell integrates bidirectionally with a host of channels, platforms and ecosystems including reinsurers, brokers and agents, aggregators, and networks. Industry Associations including Independent Insurance Agents & Brokers of America (IIAB), the Insurance Agency Owners Alliance (IOAO), the Insurance Connector, and the Stay Safe Online program. "Businesses need a 360-degree view of their cyber risk that is continuously updated and includes vulnerabilities, cloud threats, and compliance gaps," said Karun Malik, Vice President of Strategic Alliances and Channel Development, Qualys. "We are pleased to be working with Cowbell Cyber to provide cyber insurance applicants and policyholders with risk insights that allow them to keep their business safe and mitigate risks prior to an incident." "Cyber incidents such as ransomware, or other attacks, can be a life or death experience for businesses. Timely handling of such attacks by an experienced breach coach is paramount," said John Mullen from Mullen Coughlin. "We welcome the opportunity to assist Cowbell's policyholders with a ransomware hotline and collaborate with Cowbell Cyber on incident response." About Cowbell Cyber Cowbell Cyber is dedicated to providing standalone, admitted, individualized and easy-to-understand cyber insurance for businesses with up to $1 Billion in revenue. In its unique AI-based approach to risk selection and pricing, Cowbell's continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue to less than 5 minutes. Cowbell Insurance Agency is currently licensed in 50 U.S. states and the District of Columbia and provides SMBs with admitted cyber insurance on AM Best "A" rated paper with up to $15 Million in coverage.

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Coverance Insurance Solutions Announces $10.5 million financing led by CUNA Mutual Group

Cision PR Newswire | September 29, 2020

Coverance Insurance Solutions is pleased to announce a $10.5 million financing led by CUNA Mutual Group, with participation from existing investor Strandview Capital. Coverance is an independent insurance agency that helps seniors navigate the complex Medicare insurance market to obtain the optimal policy and save money. CUNA Mutual Group is a leading insurance, financial services and technology company that helps credit unions provide their members with the solutions to attain financial security through all life stages. Coverance is rapidly building a trusted brand with its celebrity spokesperson Kelsey Grammer, from television shows Cheers and Fraser. The current COVID-19 pandemic highlights the critical importance of proper Medicare insurance for seniors and has accelerated the trend toward centralized call centers versus how much of the industry has been traditionally served through in-person insurance agents.

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INSURANCE TECHNOLOGY

Xceedance Expands its Actuarial and Analytics Services for Insurance Organizations

Xceedance | December 01, 2020

Xceedance, a global supplier of strategic insurance consulting and technology servicing insurance associations around the world, today reported the extension of its global Actuarial and Analytics Services practice, driven by Matthew Duke, SVP and chief statistician. “Matthew looks at actuarial services from a business perspective first,” said Manish Khetan, COO of North America operations at Xceedance. “His approach to maximizing the value of the insurance actuarial function can be transformational for large companies looking to streamline and focus operations. Small to mid-size insurance companies, which may not have the bandwidth to truly take advantage of progressive actuarial services, can also benefit from the Xceedance offering.” Duke acquires 15 years of authority actuarial and analytics disciplines, with ability in technique execution, encouraging authoritative change, and settling business challenges by means of information driven experiences that straightforwardly sway productivity. He is an individual from the American Academy of Actuaries (MAAA), a partner of the Casualty Actuarial Society (ACAS), perceived as a partner in reinsurance (ARe) by The Institutes, and accomplished his MBA from The Wharton School, University of Pennsylvania. Preceding joining Xceedance, Duke worked at Blackboard Insurance as head of evaluating and development analytics, where he created actuarial estimating foundation, driven state recording activities, reclassified the function of a statistician, and selected top ability. Notwithstanding break head of danger at Blackboard, Duke held situations at Freedom Mortgage, Guy Carpenter, Arch Insurance Group, and Travelers. “Xceedance has provided actuarial services to insurance companies for several years, building a foundation upon which an expanded practice with broader reach can be established,” said Duke. “I strongly believe the involvement of proficient actuaries at all levels of the insurance decision-making process can translate to real value on the profit and loss statement. In partnering with Xceedance, insurance organizations can have access to top-quality actuarial and analytics resources, not only for standard pricing and reserving work, but also to enable other functions which contribute to the goals and outcomes of a company’s strategic plan.” About Xceedance Xceedance (www.xceedance.com) is a global provider of strategic consulting and managed services, technology, data sciences, and blockchain solutions to insurance organizations. Domiciled in Bermuda, with offices in the United States, United Kingdom, Liechtenstein, Switzerland, Poland, India, and Australia, Xceedance helps insurers launch new products, drive operations, implement intelligent technology, deploy advanced analytic capabilities, and achieve business process optimization.

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