Flood-hit Wainfleet receives aid ahead of surge in insurance claims

insurancebusinessmag | June 18, 2019

With 40-60mm of rain forecast to fall today or tomorrow, flood warnings remain in place for inundated Wainfleet. The good news is that those in the insurance industry are lining up to help including the likes of RSA and Crawford & Company.We are doing all we can to help the people of Wainfleet get back on their feet as soon as possible, said RSA chief claims officer Karl Helgesen in a statement sent toInsurance Business.

Spotlight

As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.

Spotlight

As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.

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Inszone Insurance Services Acquires Capizzi Insurance

Inszone Insurance | November 24, 2022

Inszone Insurance Services: a rapidly growing, national provider of benefits, personal and commercial lines insurance, announced today the acquisition of Capizzi Insurance. Capizzi Insurance was founded in 1971 by Vincent Capizzi. With one location Capizzi Insurance primarily operated as a standard-preferred personal lines and small-mid commercial lines property and casualty agency. Throughout their history they have focused on helping their clients in finding the best program that fits their specific needs. The Capizzi Insurance team will transition over to Inszone’s Lakewood location and continue serving customers under the Inszone Insurance brand. Customers will experience a seamless transition and continue to receive the same standards of service they have come to expect. “We’re excited to welcome Capizzi Insurance into the Inszone Insurance family, We continue to grow within specific areas in California, we are happy to be able to add additional avenues of support and additional service offerings as we expand in the state." -Chris Walters, CEO of Inszone Insurance About Inszone: Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm which provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 32 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.

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CORE INSURANCE,INSURANCE TECHNOLOGY

Coterie Insurance Joins Vertaforce’s Automated Commercial Submissions

Coterie Insurance and Vertaforce | January 11, 2023

On January 10, 2023, Coterie Insurance officially launched Vertafore's award-winning Commercial SubmissionsTM platform, which handles business owner’s policies (BOP) and general liability policies. Coterie, the platform's first MGA, will make it easier for independent brokers to bind and quote small commercial insurance. The time-consuming process of quoting small business insurance lines has been made simpler using Commercial Submissions by independent agencies since it became available last spring. The platform's automated data entry tasks and connectivity with carriers have produced significant results for independent agents, enabling them to offer their business clients a better experience. Coterie's mission and goals, which focus on revitalizing the business through digital tools, are entirely consistent with those of Commercial Submissions. Using Coterie, agencies will have access to Commercial Submissions and be open to a wider variety of specialized commercial alternatives. Becky Monfre, Coterie's Director of Digital Partnerships, said, "We are excited to engage with Vertafore's vast network of agents on the Commercial Submissions platform and offer our BOP and general liability quotes to their agents. She further added, "Coterie is uniquely positioned on the platform to offer bindable quotes with minimal questions, as a fully digitally underwritten insurance product. This puts a quote in the agent's hand to present to their clients within minutes, offering unique products and coverage in all 50 states." (Source: Cision PRnewswire) "We are thrilled to welcome Coterie Insurance to Commercial Submissions and to further increase connectivity across the entire insurance distribution channel. Coterie's addition expands access to their policy solutions and adds to the platform's momentum, providing participating agents with another communicative, world-class partner who can help them quickly match customers with the product options that are right for them," said James Thom, Chief Product Officer at Vertafore. (Source: CisionPRnewswire) About Coterie Insurance Coterie Insurance helps in getting quotes and buying insurance. Small businesses can get the services they need through their website, through an independent agent, or with help from the company's support team. The company, which started operations in 2018, has its main office in Cincinnati (Ohio). About Vertafore Founded in 1969, Vertafore is modernizing and streamlining the insurance life cycle and helping its customers prioritize what's truly important to them. As a result, independent agencies, MGAs, and carriers can increase efficiency, productivity, and profitability with the help of Vertafore's solutions. It provides end-to-end connectivity across the distribution channel, enhances the client and agent experience, unlocks data's power, and streamlines essential workflows.

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Alera Group Acquires the Ascent Group for $3 Billion

Alera Group | January 05, 2023

Alera Group, a national insurance, wealth, and retirement plan services provider, has acquired The Ascent Group and allied firms. The deal adds $1.5 billion to Alera Group Wealth Services' RIA business and $1.3 billion to Alera Group Retirement Plan Services. The Summit Group in Virginia and Walsh & Nicholson Financial Group in Pennsylvania are connected to the Ascent Group. The Ascent Group has 42 employees, 15 of whom are financial advisors. By the end of 2022, Alera Group Wealth Services had $7.5 billion in assets, which included $1.5 billion in RIA assets and about $6 billion in AUM. One of the most fundamental components of the Ascent Group's investment infrastructure is the turnkey asset management program (TAMP), which was created to lower the overall client expenses by bringing crucial operations in-house and eliminating vendors. According to Alera Group, The Ascent Group is a good fit for the company's strategy of providing synergies and strategic benefits across its employee benefits and property and casualty verticals. It lets the company offer more complete solutions to clients, which can really help plan sponsors and participants come together. The organization is delighted to have the team join its expanding division in a role that will serve as a cornerstone. Meanwhile, the terms of the transaction were not disclosed. About Alera Group Alera Group serves thousands of clients, offering various services such as employee benefits, P&C, wealth, and retirement plans. It merged 24 dynamic US offices. The organization blends national experience and resources with local, tailored service. It is the nation's 7th largest privately-held employee benefits firm, 15th-largest independent insurance agency, and 16th-largest privately-held insurance firm.

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