INSURANCE TECHNOLOGY

Cowbell Cyber Brings Essential Cyber Insurance Coverages to Manufacturing, Construction and Other Classes of Business

Cowbell Cyber | October 29, 2020

Cowbell Cyber, the business' first AI-controlled cyber protection supplier for little to fair sized organizations (SMBs), today declared its arrangement to twofold down on significance and cyber versatility with inclusions explicit to classes of business known for complex cybersecurity measures. This makes Cowbell the first cyber protection firm to bring a conceded protection item that delivers presentations special to assembling, development and different classes of business, shutting the insurability hole for enterprises crucial to the U.S. economy.

Cybercriminals cast a wide assault net to invade each class of business and have as of late increase their objectives on organizations like development and assembling developing enterprises progressively turning out to be more innovation subordinate. These indispensable ventures have remarkable necessities that envelop the physical and virtual world and as per the Cyber Insurance. The Market's View 2020 overview, these enterprises are indicating a solid move towards expanded cyber protection schooling and reception.

"Every business is at risk of a cyber incident but the exposures and subsequent damages can vary drastically in type and scope by sector. Businesses in every industry are rapidly building awareness about the unique cyber threats they face," said Jack Kudale, CEO and Founder at Cowbell Cyber. "Cowbell Prime 250 goes beyond offering generic coverages, enabling insurance buyers to not benefit from customized policies but also add coverages for cyber incidents unique to their class of business."

Unique endorsements available with Cowbell Prime 250 include:

Contractual Damages Endorsement for the manufacturing industry: Provides financial protection when the manufacturer faces a cyber event that triggers third party liability caused by the inability to fulfill a contractual requirement, the compromise of customer information or contractual damages that an unfulfilled contract might trigger for the customer.

Missed Bid Endorsement for the construction industry: Provides construction with additional financial coverage for missed income when a cyber incident triggers a business interruption that prevents the construction company from bidding for or responding to an RFP.

Cowbell Breach Fund with additional separate limit endorsement: Provides separate limit for the coverage of expenses common to many cyber events such as forensic services or notification to individuals and entities impacted by the incident. The limit for this fund can be extended through a Separate Limit Endorsement for classes of business carrying a large population of customers.

Utilizing Cowbell, operators and merchants can now quickly and effortlessly convey cyber protection contributions that are exceptionally applicable to their customers. Beginning with three preset industry-explicit bundles - Basic, Popular, Elite - they can, in a couple of snaps, redo strategies or add supports novel to explicit businesses.

About Cowbell Cyber
Cowbell Cyber is dedicated to providing standalone, admitted, individualized and easy-to-understand cyber insurance for small and mid-size businesses. 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 in less than 5 minutes. Cowbell Insurance Agency is currently licensed in 34 U.S. states and provides SMBs with admitted cyber insurance on AM Best "A" rated paper with up to $15 Million in coverage.

Spotlight

Information and communications technology (ICT) has transformed a nearlyevery aspect of modern life, from banking to travel to commerce. The healthcare sector has been slower to take advantage of the benefits of these new technologies. Recently, however, global stimulus funding has accelerated the use of Health IT in many parts of the world. Nations around the globe have shown encouraging progress that demonstrates how the effective use of ICT in healthcare can improve access to and quality of care, reduce costs, and improve satisfaction among both patients and providers.

Spotlight

Information and communications technology (ICT) has transformed a nearlyevery aspect of modern life, from banking to travel to commerce. The healthcare sector has been slower to take advantage of the benefits of these new technologies. Recently, however, global stimulus funding has accelerated the use of Health IT in many parts of the world. Nations around the globe have shown encouraging progress that demonstrates how the effective use of ICT in healthcare can improve access to and quality of care, reduce costs, and improve satisfaction among both patients and providers.

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INSURANCE TECHNOLOGY

CoverEase Helps Businesses Instantly Shop and Save on Business Insurance

CoverEase | March 21, 2022

Today, CoverEase, a digital insurance brokerage, announced the launch of its digital platform that leverages artificial intelligence to automate underwriting, and deliver a simple way to shop, compare, and buy workers' compensation, in 3 minutes. The company has transformed the typical long and complicated process of purchasing business insurance into a lightning-fast, easy, and awesome experience. CoverEase instantly shops the workers' compensation marketplace, and during the same journey, quotes business property and liability, cyber liability, and for California businesses, group health insurance, comparing pricing and coverages from top-rated insurance companies including The Hartford, Travelers, Liberty Mutual, Markel, Berkshire Hathaway Guard, Employers, AmTrust, Anthem, Kaiser Permanente, United HealthCare and Cowbell Cyber, among others. CoverEase's AI-powered, embeddable solution offers a seamless way for its partners to offer business insurance to its customers, at the point of sale, via a browser. We're obsessed with delivering a best-in-class customer experience that makes it easy to shop and save on the insurance that businesses need. CoverEase offers choice and transparency by providing seven different workers' comp quotes along with business, property, cyber liability, and group health quotes within a unified platform. We're uniquely positioned within the digital insurance marketplace to provide instant quotes and best-in-class service with a broad product suite through multiple distribution models." Shawn Edgington, Founder and CEO. CoverEase's digital platform is supported by Coverage Concierges, the company's business insurance experts, who help customers navigate the options and purchase the right insurance at the best price. Start your quotes with CoverEase to explore coverages, tailored to your business. About CoverEase: CoverEase is a digital insurance brokerage that simplifies the way business insurance is quoted and purchased across the United States. CoverEase combines artificial intelligence and broker expertise to instantly quote, and purchase workers' compensation plus other business insurance coverages from top insurance companies. CoverEase, headquartered in Livermore, California, with offices in New York, was built on the same technology that their sister company's pay-go workers' comp agency, E-COMP NOW! has been using and improving for the past 5 years. Both companies were founded by Shawn Marie Edgington.

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CORE INSURANCE

Lenders Service Corporation (LSC) Joins Unitas Financial Services

Unitas Financial Services | September 27, 2021

Lenders Service Corporation (LSC) is excited to announce its merger with Unitas Financial Services (Unitas) whose mission is to provide the nation's simplest portfolio protection to lenders and real estate investors across the country. LSC is a licensed Managing General Insurance Agency that has served the insurance needs of the lending community since 1981. Unitas, pronounced [YOO-ni-tahs], is a Latin word that means "Oneness or Unity". The merger with Unitas serves to provide an even broader range of highly specialized lender and real estate investor protection programs to all clients, backed by exceptional customer service. The merger of LSC with Unitas brings together a total of 14 insurance carriers and 510 clients across 30 states. LSC is based in Louisville, KY, and Unitas is based in Dublin, OH with offices in Debary, FL, and representatives across the United States. The merger builds upon the "customer first" service philosophy that has guided both companies to success. Clients will also have access to a robust range of new products, including insurance tracking, mortgage settlement solutions, blanket mortgage, blanket consumer protection (VSI), blanket equipment coverage, and more. In addition, the merger between LSC and Unitas brings unmatched claims handling experience, better coverage for lenders, and a depth of leadership and staff experience that is unmatched in the industry. Previously, LSC had acquired the Financial Products Division of Assured Partners NL, LLC's Lexington, KY office. The merger with LSC is a clear signal of Unitas's dedication to the lender protection market, as well as its commitment to provide the most up-to-date and innovative products, services, and concepts in financial institution coverage. With the talent, industry knowledge, and carrier access that comes with our combined organizations, we will be able to provide our clients with a more diverse, creative, and comprehensive lineup of products and services. We cannot say thank you enough for your loyalty to our agency over these last 40 years. We will continue to work hard in earning that loyalty as we move into the future as a part of the Unitas family. - LSC President Gary Criscillis About Unitas Unitas was formed in 2020 when Golden Eagle Insurance, founded in 1995, merged with Innovative Risk Solutions, founded in 2005. Unitas provides portfolio protection services for lenders, such as vendor's single interest (VSI), blanket mortgage hazard, blanket commercial equipment, collateral protection insurance (CPI), lender-placed hazard and flood coverage, loan default coverage (Protequity), tax tracking, guaranteed asset protection (GAP), as well as portfolio protection for real estate investors. Lenders in the property and automotive sectors will benefit from a combined 82 years of industry experience from LSC and Unitas. The merged companies will be in a strong market position to offer their services to lenders and real estate investors going forward.

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CORE INSURANCE

Hub International Strengthens Healthcare & Construction Insurance Capabilities With Acquisition Of The Assets Of Eaton-Provident Group In Arizona

Hub International Limited | October 08, 2021

Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced that it has acquired the assets of Eaton-Provident Group, LLC (EPG Insurance). Terms of the transaction were not disclosed. Located in Scottsdale, Arizona, EPG Insurance is a property and casualty insurance firm serving businesses, families and individuals. EPG Insurance specializes in various industries, including senior living and construction, which supports Hub's Specialty practices by complementing and strengthening its existing capabilities. EPG Insurance's keen understanding of the insurance business, their broad and multidisciplinary experience, and our shared culture and values makes them an ideal addition as we continue to grow in the region and guide clients, - Randy Perkins, President of Hub Southwest. EPG Insurance Principals Tim Schmidt, Greg Budiac and Jeff Schmidt, and the rest of the EPG Insurance team will join Hub Southwest. We are committed to our clients and look forward to continuing to help them protect their businesses and assets with expanded services, solutions and value through Hub, - Mr. Tim Schmidt. About Hub's M&A Activities Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.

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