WEBSURANCE | December 02, 2021
Howell Benefit Services, Inc. (HBS), and Howell Benefit Technologies LLC (dba RATECentric) have released WEBSURANCE, a fully insured health and welfare benefits trust featuring top ranked group insurance companies for carriers, producers, and employers. In conjunction with the Trust, a paperless, digital WEBSURANCE platform was also launched enabling carriers and producers to offer employers superior level benefit plans, competitive pricing, and extended rate guarantees.
HBS is pleased to announce MetLife and Vision Benefits of America (VBA) as the first multi-year Trust participants offering group dental and vision benefits, respectively, to employers nationwide with products and plan designs typically found in the enterprise market.
We continue to enhance our online presence utilizing our digital technology by adding these two market leading insurance carriers, We've had exceptional success for over 25 years building and managing digital websites and have been a pioneer in API integration for several top ranked group carriers. Our technology has enabled the carriers we serve to measure and demonstrate the efficiencies and profitability of outsourcing online quoting, case submission, premium billing, sales activity, license tracking and commission payment in a single application.
- Roger Howell, President of HBS.
Our real time quoting platform's success, which has been online nationwide since 2013 and now serving two of the top five national group insurance carriers, illustrates how our team has combined deep-rooted benefits knowledge, four decades of TPA experience, and integrating it with our proprietary and commercially successful digital platform technology."
Howell has provided customized, multi-carrier and premium billing technology, producer appointment and license tracking as well as commission payment technology for carriers and producers since 2000.
"By utilizing WEBSURANCE's digital solution we are able to streamline our offerings for customers and provide them with access to competitive benefit plan options, instant rates and case submission, pricing and backroom support as a result of our collaboration with Howell."
- Cynthia Smith, SVP of Regional Business at MetLife
VBA's Vice President, Matt Cuomo stated, "The WEBSURANCE Trust is the perfect vessel for us to showcase our national vision plan benefit portfolio. The quoting, case submission and plan administration features offered by WEBSURANCE are unprecedented, based on our experience."
The WEBSURANCE Benefits Trust will be offering additional online group and voluntary benefit plans in 2022, further reducing quoting and administrative expenses while, at the same time, increasing closing ratios for carriers and producers.
The WEBSURANCE Benefits Trust is a fully insured, national group insurance trust that covers hundreds of employer groups, with the capacity and scalability to offer a variety of carriers' product lines. Eligible group insurance products include health, dental, vision, life, disability, voluntary life, disability, critical illness, hospital indemnity, and accident. WEBSURANCE is administered by Howell Benefit Services, Inc. (Howell), located in Wilkes-Barre, Pennsylvania. Howell is a nationally recognized, online, Third Party Administrator (TPA) in business since 1982.
Beazley | June 12, 2020
Beazley has announced the launch of a new occurrence media liability policy that covers many risks faced by small to medium-sized media outlets and publishers in the US.
Beazley’s new policy provides professional indemnity cover written on an occurrence basis.
In addition, the policy offers optional coverage for technology errors and omissions, information security and privacy, and bodily injury or property damage.
Specialist insurer Beazley has announced the launch of a new occurrence media liability policy that covers many risks faced by small to medium-sized media outlets and publishers in the US.
“The media landscape has changed considerably in the last decade,” Beazley said. “As traditional publishing and media groups have moved increasingly online, freelancers who solely publish online, including bloggers, vloggers and social influencers, are growing in number and reach. As the public looks to a wide range of sources for content, the media sector has become more crowded and awareness of the risks associated with publishing varies widely.”
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Beazley’s new policy provides professional indemnity cover written on an occurrence basis. The coverage focuses on defamation, libel and slander, and infringement of copyright and trademark. It also includes a range of other content-related exposures. The policy also includes unintentional breach of contract with a client and mitigation costs (sub-limited) to minimize claims escalation.
In addition, the policy offers optional coverage for technology errors and omissions, information security and privacy, and bodily injury or property damage arising out of the publication of content.
The US media sector is undergoing substantial changes, with the launch of new channels for publishing and broadcasting and the growing reach of bloggers, vloggers and social influencers, Freelance publishers and start-up media ventures ought to be aware that they are as liable as traditional, established media groups for the content and materials they publish or share. They face a range of exposures including defamation, intellectual property and privacy, and should consider the precautions and cover they need to protect themselves against potential claims.
- Angela Weaver, global head of media liability for Beazley.
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The new policy covers various media professionals including publishers, broadcasters, authors and journalists, bloggers, vloggers, social influencers and content creators, and advertising producers and advertising agencies. Limits of up to $5 million are available on a worldwide basis.
Beazley plc is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia and Australia. Beazley manages six Lloyd’s syndicates and, in 2017, underwrote gross premiums worldwide of $2,343.8 million. All Lloyd’s syndicates are rated A by A.M. Best. In the US, our underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted property/casualty carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd’s. Beazley Insurance Company, Inc. is rated A by A.M. Best.
Specialist Risk Group, HGGC | December 21, 2020
Specialist Risk Group, a quickly developing specialist insurance broker, today reported that it has consented to a complete arrangement to be procured by driving center market private value firm HGGC. SRG's supervisory crew will contribute close by HGGC and keep on holding a huge stake in the business. The private exchange is relied upon to shut in Q1 2021, subject to administrative endorsement. As a component of the exchange, existing financial specialist Pollen Street Capital will leave the business.
SRG was framed by Pollen Street Capital through the acquisition of Miles Smith in 2018 and The Underwriting Exchange in 2019. Under the administration of Group CEO Warren Downey, SRG is situated for quick organic and acquisition-based growth.
"We are delighted to partner with HGGC, a firm that is completely aligned with our values as a culture and people-driven company," said Warren Downey, SRG Group CEO. "We share a common ethos and expansive ambition, and I am tremendously excited for the next chapter of the SRG story. I would like to thank the team at Pollen Street for their support of the business through this foundational stage of SRG's history."
"SRG has been an outstanding investment and a great example of Pollen Street's track record of investing in high growth specialists in the financial and business services sectors," added Ian Gascoigne, Partner at Pollen Street Capital. "We have enjoyed a great partnership with Warren and the team and believe that HGGC is a great partner to support the business to achieve its considerable potential."
HGGC was prompted by Evercore and Kirkland and Ellis and Pollen Street was exhorted by Macquarie Capital and Proskauer.
About Specialist Risk Group
SRG is an integrated group of insurance intermediaries arranging specialist insurance for corporates operating in the UK and internationally. The group serves over 18,000 end policyholders across multiple lines of business and specialises in creating solutions to challenging risk transfer questions. For more information, please visit: www.specialistrisk.com.
HGGC is a leading middle-market private equity firm with $5.4 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing approach that enables the firm to source and acquire scalable businesses through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed more than 200 platform investments, add-on acquisitions, recapitalisations, and liquidity events with an aggregate transaction value of over $27 billion. More information, including a complete list of current and former portfolio companies is available at www.hggc.com.
About Pollen Street Capital
Pollen Street is an independent alternative investment management company with significant experience in specialty finance, focused on accelerating the progress of the financial and business services sectors. It was established in 2013 and operates across private equity and credit strategies on behalf of investors including leading pension funds, asset managers, banks, and family offices from around the world. Pollen Street has a team of 70+ professionals with offices in London and New York City.