Berkley One launches in two more states

Insurance Business America | April 22, 2019

Berkley One, a W.R. Berkley company, has expanded its operations into two more states - Texas and Pennsylvania – meaning the firm is now operational in 11 states. The start-up insurance provider has also announced the extended availability of its flood insurance product and wildfire response services. “We’ve had Texas and Pennsylvania in our sights since we launched Berkley One and I’m excited that we’ve been able to quickly expand to these states, bringing a full lineup of product solutions, strong partnerships with agents and brokers and innovative client services like a wildfire response solution in Texas,” said Berkley One president Kathleen Tierney. In addition to the expansion, Berkley One has added private flood coverage to its product suite in Minnesota and Wisconsin. The product is available to home insurance clients in eligible B, C, and X zones in both states. Tierney explained that the extension of the company’s flood product is part of Berkley One’s push for a more comprehensive suite of products and services.

Spotlight

Fannie Mae and Freddie Mac (the Enterprises) operate under congressional charters to provide liquidity, stability, and affordability to the mortgage market. Those charters, which have been amended from time to time, authorize the Enterprises to purchase residential mortgages and codify an affirmative obligation to facilitate the financing of affordable housing for low and moderate-income families. Pursuant to their charters, the Enterprises may purchase single-family residential mortgages with loan-to-value (LTV) ratios above 80%, provided that these mortgages are supported by one of several credit enhancements identified in their charters. A credit enhancement is a method or tool to reduce the risk of extending credit to a borrower; mortgage insurance is one such method.

Spotlight

Fannie Mae and Freddie Mac (the Enterprises) operate under congressional charters to provide liquidity, stability, and affordability to the mortgage market. Those charters, which have been amended from time to time, authorize the Enterprises to purchase residential mortgages and codify an affirmative obligation to facilitate the financing of affordable housing for low and moderate-income families. Pursuant to their charters, the Enterprises may purchase single-family residential mortgages with loan-to-value (LTV) ratios above 80%, provided that these mortgages are supported by one of several credit enhancements identified in their charters. A credit enhancement is a method or tool to reduce the risk of extending credit to a borrower; mortgage insurance is one such method.

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Surefire Cyber Introduces Incident Response Company to Aid the Cyber Insurance Industry

Surefire Cyber | June 01, 2022

Surefire Cyber, a new incident response company, debuted today to assist cyber insurers, brokers, legal firms, and the enterprises they support in better managing cyber events like ransomware, email hacking, and other cybercrimes. The firm received a $10 million Series A round of funding from Forgepoint Capital. Surefire Cyber's goal is to work with our clients and partners to swiftly manage a cyber incident and then bring forward capabilities to help them become more cyber resilient. Our delivery of end-to-end digital forensics and incident response capabilities is built on a tech-enabled framework and delivered through a platform that aligns and connects an organization's executives, technical team, insurance carrier, and legal counsel." Billy Gouveia, the CEO and Founder of Surefire Cyber. Surefire Cyber is committed to being great partners to carriers, brokers, Breach Coaches®, and the clients they work together to support. We are pleased to welcome them as new contributors to the cyber insurance ecosystem who offer deep experience and a valuable perspective." Mark Greisiger, President and Founder of NetDiligence®. Based on two long-term trends: the rising cost of cyber incidents and the growing adoption of cyber insurance, industry veterans found Surefire Cyber as a purpose-built response firm that leverages a proven team and a tech-enabled platform to improve transparency, improve decision making, minimize business interruption, and guide organizations from recovery to long-term resilience. Forgepoint Capital, the world's most active early-stage cybersecurity venture capital firm, is backing Surefire Cyber. Before he started Surefire Cyber, Gouveia worked as an Entrepreneur-in-Residence at Forgepoint. There, he helped develop the company's strategy, business model, technology, and team, as well as build important partnerships with companies across the firm's portfolio.

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Trust Insurance Cyprus Launches eBaoCloud DigitalCore to support General Insurance Business

Trust Insurance Cyprus, eBaoTech | February 09, 2021

eBaoTech Corporation (eBaoTech), declared that Trust Insurance Cyprus, an auxiliary of Trust Holding, effectively dispatched, on January 17, 2021, eBaoCloud® DigitalCoreTM (DigitalCore) underway for start to finish life cycle tasks of its general insurance business, supplanting an inheritance framework that has been being used for quite a long time. Since its dispatch, the new stage has been working easily with solid client fulfillment and activity effectiveness help. Settled in Cyprus, Trust Holding, a completely claimed element of Nest Investments Holding, is a main territorial insurance bunch with business in excess of 7 nations across Middle East, North Africa and in Cyprus. Trust Holding chosen DigitalCoreTM for framework modernization, to expand its business readiness, availability/advancement abilities and activity effectiveness in the computerized age. eBaoCloud® DigitalCoreTM is intended for advanced insurance with solid network and API directions. Its fruitful dispatch gives a solid stage to Trust Insurance Cyprus to quicken its advanced change. Marwan Bataineh, Group Chief Technology & Information Officer of Nest Investment Holding commented, "We are so excited that the new digital platform went live during these exceptionally circumstances and challenges we are facing from the COVID-19 pandemic. The teams from Trust in Cyprus and Jordan, and eBaoTech in Shanghai and Wuxi had to collaborate and work remotely through the whole year with a 6 hour time difference. I am so glad that with the strong support from our Board of Directors, our management team and the dedication and professionalism of the joint teams, we successfully launched the new digital platform as a backbone to enable our innovations and growth. We look forward to the implementation of DigitalCore to all insurance subsidiary companies of Trust Holding Group". Christos Christodoulou, CEO of Trust Cyprus added, "We want to express our great appreciation and respect to eBaoTech's team for their professional and methodical approach to make this project a success. Their commitment and dedication was remarkable and beyond our expectations. With the new policy admin platform in place, we are now able to offer a better service to our Agents and Customers. We now have much stronger connectivity capabilities to increase our services and user experience to our agents and policy holders. We feel that with a strong technology partner such as eBaoTech we will maintain and increase our leading position in the new technological era." Kamel Abunahl, CEO of Trust Holding highlighted, "This is a big success for both organizations and a great team work. We are glad of our decision to choose eBaoTech as our long-term partner for the transformation of our Group Insurance companies into the new digital era. Today, by using eBaoTech's DigitalCore, we have one more tool to enable the Group Companies to advance further faster with better controls. This is the first step of a long journey and future cooperation with eBao". About Trust Insurance Cyprus Trust Insurance Cyprus provides optimum insurance services on an international level for over a decade. Since August 2009, it has extended its dynamic presence in the Cyprus Market with a capital in excess of € 8.000.000, residing in the top tier of the industry. The company's successful growth is a motivation for significant future movements in creating innovative ideas as to become one of the leading insurance companies within the Insurance Industry. About Trust Holding Trust Holding was founded in 2007. It has set its vision to focus on growing its role and relationship with its subsidiaries to being an active support hub helping respecting operations to enhance their economic value in their respective markets on local and global views. Trust Holding have presence in the MENA region, North Africa and Europe such as Algeria, Palestine, Lebanon, Yemen, Iraq and Cyprus. About eBaoTech eBaoTech® is a technology solution provider for global insurance industry. Our mission from start is to "make insurance easy". We have business in more than 30 countries across all continents, serving numerous insurers, agents, brokers, InsurTech startups and others in the insurance ecosystem. eBaoTech offers two groups of solutions: eBao® Cloud including SaaS and PaaS solutions and eBao® Software for traditional insurance carriers' core systems.

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Sapiens, Clear Blue Insurance Group | April 29, 2021

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