EmergIn Risk announces enhancements to insurance agents and brokers E&O program

EmergIn Risk | August 09, 2019

EmergIn Risk, part of the Ryan Specialty Group and a division of RSG Underwriting Managers, has announced an expansion of its professional liability program for insurance agents and brokers, [In]fuse. EmergIn Risk (formerly ThinkRisk) launched [In]fuse seven years ago to provide protection against the professional liability exposures faced by mid-sized and large US insurance agents and brokers. The enhanced product, [In]fuse 2.0, includes increased sub-limits for coverages including governmental and disciplinary proceedings, subpoena expenses, and time-off-work expenses for policyholders and their employees. Several exclusions have also been removed, including bad faith and the “insured v. insured” exclusion. The new policy form also offers a 70/30 consent to settle “hammer” and expands the definition of an insured, EmergIn Risk said.

Spotlight

The global insurance industry is facing significant push and pull factors which spell out the clear and pressing need for digital transformation in the face of a rapidly evolving consumer audience. For the modern insurance customer, who has become used to the hallmarks of personalization and convenience in their daily digital interactions, it is vital that their provider can offer them insurance in a manner that is easy to access and understand, while also being competitive and tailored to their personal circumstances.

Spotlight

The global insurance industry is facing significant push and pull factors which spell out the clear and pressing need for digital transformation in the face of a rapidly evolving consumer audience. For the modern insurance customer, who has become used to the hallmarks of personalization and convenience in their daily digital interactions, it is vital that their provider can offer them insurance in a manner that is easy to access and understand, while also being competitive and tailored to their personal circumstances.

Related News

RISK MANAGEMENT

Buckle Selects Origami Risk Platform to Enhance Policy Administration

Buckle and Origami Risk | September 08, 2022

Buckle, the financial services company providing auto insurance solutions for the gig economy, has selected Origami Risk’s multi-tenant SaaS P/C platform to support policy administration, billing, and advanced analytics for its auto insurance programs. In addition to providing technology-based tools and functionality, Origami’s platform will enable Buckle to deliver more robust services with greater speed to its rapidly expanding and specialized customers, partners, and members throughout the United States. "Our members and partners expect and deserve new and innovative products, so we continually enhance our technology to support their needs. This platform offers a scalable solution for our ambitious growth and continued momentum,” - Adam Landau, chief information officer of Buckle Our policy administration, billing and risk management resources are ideally suited to meet the needs of Buckle as it continues to grow its dynamic and innovative business, These capabilities are among several innovative solution sets we’ve developed to help carriers, pools, program administrators and other insurance providers drive efficiencies across critical functions, meet customer needs, and improve overall performance,said Christopher Bennett, president, Core Solutions division, Origami Risk. Origami Risk offers a full suite of end-to-end, integrated SaaS solutions for policy, rating, billing, loss control and claims administration, reporting and analytics, along with a comprehensive digital engagement experience for all internal and external stakeholders. About Buckle Buckle is the digital financial services company providing insurance for the gig industry. Serving the vital, rising middle class, Buckle protects drivers across personal, rideshare, and delivery driving for leading companies including Uber, Lyft, DoorDash, Gopuff, Instacart, Amazon Flex, Uber Eats, Grubhub, Favor, Shipt, and more. The company also offers insurance solutions for select partners. Buckle has received awards for 2022 including Best of Insurance, Best Rideshare & Delivery Driver Insurance Specialists, a Fastest Growing Company, Most Innovative Rideshare Auto Insurance Product Provider, Best Tech Startup, an InsurTech 50, and more. About Origami Risk – Core Solutions Division Origami Risk provides integrated SaaS solutions that simplify insurance, risk, and safety for insurers, managing general agents (MGAs), program administrators, third party claims administrators (TPAs), risk pools, brokers and more. Origami Risk delivers its highly configurable and completely scalable integrated insurance core system, risk management and safety solutions from a secure, multi-tenant platform accessible via web browser and mobile app.

Read More

CORE INSURANCE

HUB INTERNATIONAL EXPANDS TRADE CREDIT INSURANCE CAPABILITIES WITH ACQUISITION OF INTERCONTINENTAL GROWTH STRATEGIES, LLC IN ILLINOIS

HUB INTERNATIONAL | August 09, 2022

HUB International Limited, a leading full-service global insurance brokerage and financial services firm, announced today that it has acquired the assets of Intercontinental Growth Strategies, LLC (IGS). Terms of the transaction were not disclosed. Located in Chicago, Illinois, IGS is a trade credit insurance brokerage helping clients grow sales safely and aggressively while protecting against any bad debt loss coming from bankruptcy or non-payment. "We're excited for IGS to join us, Their industry focus supports our Financial Institutions Specialty and Complex Risk practice by complementing and strengthening our existing capabilities." -Seth Hopkins, Chief Marketing Officer & Property Casualty Practice Leader for Hub International Midwest Limited 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 14,000 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.

Read More

CORE INSURANCE

World Insurance Associates Acquires Cotten Coverage Insurance Agency and Expands Long Island Presence

World Insurance Associates LLC | September 28, 2022

World Insurance Associates LLC (WIA), a Top 50 Insurance Brokerage, announced today that it acquired Cotten Coverage Insurance Agency (“Cotten Coverage”) of Farmingville, NY on September 1, 2022. Terms of the transaction were not disclosed. Cotten Coverage provides property & casualty personal lines products and services, as well as commercial lines products and services to customers on Long Island. The agency was founded in 1991 by Bob Cotten and his wife Karen. Bob started in the business as an associate actuary with Allstate on Long Island in 1984. “We know our clients and we know insurance, so our clients have the peace of mind that comes with knowing their insurance agency can help them regardless of how big, small, unique, or specific their insurance needs are, We take great pride in the quality of service we provide for our customers, and we look forward to continuing to do so as part of WIA.” -Bob Cotten, Owner, Cotten Coverage insurance Agency On behalf of everyone at WIA, I’d like to welcome Cotten Coverage to the World family, Cotten Coverage is a successful agency—voted “Best Insurance Agency on Long Island" for 10 years—and I know they will continue providing their clients the excellent service they have come to expect,says Rich Eknoian, CEO and Co-Founder of WIA. Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence advised them on the transaction. APEX Consulting, Inc. provided legal counsel to Cotten Coverage, and Agency Brokerage Consultants advised them on the transaction. No other advisors, diligence firms or legal counsel were disclosed. About World Insurance Associates LLC World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed 160 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #2 on the Fastest Growing Brokers list by Business Insurance and is a Top-50 ranked personal lines agency by Insurance Journal.

Read More