FSCS sends out cheques to UK customers of bankrupt Alpha Insurance

insurancebusinessmag | May 30, 2019

A total of £6.9 million in premium refund payments -that is what the Financial Services Compensation Scheme (FSCS) is currently busy issuing to 9,000 commercial taxi policyholders in the UK who bought Alpha Insurance A/S coverage via managing general agent Capital Underwriting Agencies Group Ltd (CUA).The latter had authorisation from Alpha Insurance to sell commercial taxi policies in the UK on their behalf, but the policies lapsed last August 11 after the Danish insurer was declared bankrupt on May 08 last year.

Spotlight

Designed to cover the deductible and/or co-insurance not covered by IP and other ancillary benefits.

Spotlight

Designed to cover the deductible and/or co-insurance not covered by IP and other ancillary benefits.

Related News

HEALTH INSURANCE

Digital-First Health Insurance Provider Angle Health Is Expanding in Indiana

Angle Health | November 18, 2022

Angle Health, the digital-first, full-stack health insurance company bringing transparency, simplicity, and ease of use to members, employers, and brokers, announced today it is expanding in Indiana. Powered by its integrated, AI-enabled technology platform, Angle Health provides a digital-first navigation experience with fully tailored, comprehensive healthcare benefit plans for employers. Telemedicine, behavioral health, and other digital health solutions – normally sitting outside of the traditional health insurance environment – are core offerings integrated into Angle Health plans at minimal to no cost for members. "We built Angle Health from the ground up to fundamentally change how people interact with the healthcare system and ensure that access to modern healthcare services isn't limited by a lack of time or understanding of the system, We could not be more excited to announce that access to Angle Health and our digital-first experience will be available to thousands more employers and brokers and millions more members across Indiana." -Ty Wang, co-founder and CEO of Angle Health Catering to more than 529,456 small businesses, 99.4% of all of businesses in the state, Angle Health is bringing its unified health benefits services to Indiana-based employers, brokers, and members, as follows: For Members Personalized, mobile-first member engagement: Angle Health meets members wherever they are on their journey. Angle's chat-first mobile app is a true partner in care. Whether a member has a question about the providers in the network, service costs, or how to navigate a medical concern, Angle Health is always there to remove the burden of access and navigation. Access to board-certified physicians, psychiatrists, psychologists, and therapists is always available, anytime and anywhere. On-demand pharmacy benefits are offered through a broad network of pharmacies alongside convenient options for home delivery. Concierge clinical management: The Angle Health clinical teams guide members on their everyday health questions, including acute and chronic needs, with one-on-one clinical support. Angle nurses prioritize a multidisciplinary approach, ensuring an individualized, tech-forward clinical wellness experience. For Employers and Brokers Fully customizable benefits packages to meet the needs of each employer and their employees Instant quoting and competitive pricing across its level-funded solutions Streamlined plan administration, delivering seamless employee enrollment and engagement, fully integrated with benefits administration and payroll Angle Health's level-funded solution gives our employer customers the benefits and flexibility of an independent TPA, with the predictability and seamlessness we have come to expect from national carriers, Their instantaneous quoting cuts, and in some instances eliminates, the standard 10-day turnaround quote window,Eric Dreyfus, Senior Vice President at Assured Partners, broker partner of Angle Health. Serving small and growing businesses and technology startups and scaleups alike, Angle Health is on a mission to democratize access to healthcare by bringing choice, affordability, transparency, and tailored health and wellness solutions to modern employers and their employees. Co-founded by former Palantir engineers, CEO Ty Wang and CTO Anirban Gangopadhyay, Angle Health was born out of the duo's frustration with their personal healthcare experiences. About Angle Health Angle Health democratizes access to modern healthcare by unifying today's fragmented healthcare benefits system into one core coverage and delivery platform. As a full-stack healthcare benefits provider, Angle Health drives efficiencies across the value chain through its digital-first platform—from instant underwriting for brokers and streamlined administration for employers to personalized care navigation for members. With access to a national network of healthcare providers and facilities, Angle Health is the health benefits provider for modern employers, now servicing thousands of employees and members across the country.

Read More

CORE INSURANCE

Specialty Program Group LLC Acquires the Assets of Catapult Insurance Solutions, LLC

Specialty Program Group and Catapult Insurance Solutions | November 03, 2022

Specialty Program Group LLC (SPG), a leading operator of specialty insurance brokerages and underwriting facilities, announced today the acquisition of the assets of Catapult Insurance Solutions. Catapult is a privately held managing general insurance agency and wholesale brokerage for niche industries and hard-to-place risks. Led by President Tim Sunderman, Catapult's largest delegated authority program is dedicated to providing residential homebuilders, commercial general contractors and trade contractors with best-in-class products and services, including general liability, umbrella, builder's risk, contractor's equipment and workers' compensation. In addition, Catapult is a Lloyds Coverholder and also provides solutions for hard-to-place risks for coastal and other high hazard property, specialty trade contractor GL, deductible buy downs, commercial DIC (EQ & Flood), and contractor's equipment. Catapult's infrastructure is designed for program incubation and development. "Tim and his team have implemented a targeted growth strategy and innovative technology platform that have enabled them to become an extremely successful and growing niche player, Their deep expertise in the construction space will expand SPG's offerings and accelerate our growth in this growing industry." -SPG President & CEO Christopher Treanor We are extremely excited to join the SPG team. Our firms share in the entrepreneurial spirit that has made the specialty distribution space so dynamic and appealing, Their operating philosophy allows for significant autonomy, which was very important as we selected a business partner. The resources and market presence SPG offers will allow us to build upon our capabilities in the niche segments we represent, expand our geographical footprint and ultimately benefit our current and future distribution partners through enhanced products and service. We are encouraged by what we can build together,said Tim Sunderman, President of Catapult. About Specialty Program Group Headquartered in Summit, NJ, Specialty Program Group is a fully licensed holding company established to acquire and scale best-in-class insurance underwriting facilities and specialty businesses throughout North America. SPG has a vast portfolio of specialty companies and is over two billion in premium. About Catapult Insurance Solutions Founded in 2007, Catapult Insurance Solutions, LLC is a privately held managing general agency, wholesale brokerage and Lloyd's Coverholder that currently underwrites and administers premium in excess of $50 million through niche programs. Catapult's products are distributed through a group of select agents and brokers throughout the U.S.

Read More

CORE INSURANCE

Alliant Insurance Services Acquires FutureSense, Expands Consulting Capabilities

Alliant Insurance Services | November 04, 2022

Alliant Insurance Services has acquired FutureSense, a national provider of people-focused HR, compensation, and organizational development services. The move expands Alliant’s consulting capabilities across a breadth of geographies and industry categories within its Employee Benefits Group. “FutureSense has earned a reputation as a national leader in management consulting through its focus on putting people first, They have a diverse team of expert consultants who excel at delivering strategies and solutions that improve business performance and help employees thrive.” -Kevin Overbey, President, Alliant Employee Benefits Founded in 1995, FutureSense has emerged as an innovative force in HR, compensation, and organizational development consulting through the deployment of multifaceted strategies that focus on helping companies grow and seeing people succeed. The firm has a national reach and is active across a broad cross-section of industries with a large presence in the healthcare and high-tech sectors. FutureSense has always taken a holistic and strategic approach to working with our clients. While focusing on people, we strive to deeply understand the ‘business of the business’ and the resultant strategic, tactical, and transactional needs of our clients, By aligning with Alliant, we gain access to a robust set of competencies that will expand our reach and provide powerful new tools and resources to our existing clients,said Jim Finkelstein, Founder, President and CEO of FutureSense. Additionally, FutureSense has been a virtual company since its founding, giving its team unparalleled insight into the virtual workplace as more organizations embrace remote work. We understand the remote worker because we have been remote for our entire existence, said Finkelstein. FutureSense and its national team of consultants will join the Alliant family of companies and will continue operating under its current name and brand. Terms of the agreement were not disclosed. About Alliant Insurance Services Alliant Insurance Services is one of the nation’s leading distributors of diversified insurance products and services. We operate through a network of specialized national platforms and local offices to offer our clients a comprehensive portfolio of solutions built on innovative thinking and personal service. The business of managing risk is getting more complex, and Alliant is meeting this complexity head-on, not with more layers of management, but with more creativity and agility. Alliant is changing the way our clients approach risk management and benefits, so they can capitalize on new opportunities to grow and protect their organizations.

Read More