Liberty Mutual soaring with Outdoorsy on RV rental insurance

Insurance Business America | April 01, 2019

Insurer Liberty Mutual is enjoying success after partnering with Outdoorsy to provide RV rental insurance to members of the outdoor experience marketplace. Under the new partnership, which went live last month, three levels of “industry-first” RV rental insurance are offered to owners and renters on the Outdoorsy marketplace. The coverage allows both owners and renters to safely travel throughout the US and Canada in motorhomes, campervans, caravans, travel trailers and adventure vehicles. According to a release, Outdoorsy has seen a 250% increase in online bookings with Liberty Insurance’s coverage since the partnership’s launch. Three tiers of coverage are being offered through the partnership to Outdoorsy clients: Peace of Mind – this coverage includes $1 million in liability insurance, $500,000 in physical damage protection for the consumer and any third party, plus windshield damage protection, lowered deductibles, 24/7 live customer support, roadside assistance, and concierge and trip planning services.

Spotlight

A recent roundtable hosted by Insurance Post in association with LexisNexis Risk Solutions saw an expert panel discuss how data enrichment can be used from a post-loss perspective and what this change could mean for the future of property claims. This article provides a summary of the discussion.

Spotlight

A recent roundtable hosted by Insurance Post in association with LexisNexis Risk Solutions saw an expert panel discuss how data enrichment can be used from a post-loss perspective and what this change could mean for the future of property claims. This article provides a summary of the discussion.

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CORE INSURANCE,INTELLECTUAL PROPERTY

Ryan Specialty Signs Definitive Agreement to Acquire Griffin Underwriting Services

Ryan Specialty | December 12, 2022

Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, is pleased to announce that today it signed a definitive agreement to acquire certain assets of Griffin Underwriting Services (“Griffin”), a binding authority specialist and wholesale insurance broker headquartered in Bellevue, WA. Griffin, founded in 1928, has deep relationships with retail insurance brokers both in the Pacific Northwest and across the country. Griffin offers a broad array of solutions across various specialty insurance lines, including earthquake and transportation. Griffin’s technical acumen and consistent underwriting results have attracted the support of numerous leading carriers. “We are excited to embrace the exceptional professionals at Griffin into Ryan Specialty. Griffin deepens our offerings in the Pacific Northwest, broadening our geographic scope and capabilities. Additionally, Griffin is a critical piece to our continual buildout of our national binding authority offering. We look forward to welcoming the Griffin team to Ryan Specialty.” -Tim Turner, President of Ryan Specialty and Chairman and CEO of RT Specialty Jason Griffin and Van Griffin, Co-Presidents of Griffin Underwriting Services, remarked, We are very familiar with RT Specialty and are thrilled to be joining the team. At Griffin, we pride ourselves in developing top talent and offering a culture that empowers the individual. It is clear that Ryan Specialty is built on this same philosophy. We’re excited about the opportunities that this new phase will create for our employees, and we look forward to the future as a part of the Ryan Specialty family. About Ryan Specialty Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers.

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CORE INSURANCE,INSURANCE TECHNOLOGY

HSB Adds WhiteHaX® App to Cyber Insurance for Consumers

HSB | December 07, 2022

Specialty insurer HSB today announced an agreement with IronSDN, Corp., to add app-based cyber risk management tools to HSB’s coverage for consumers and their families. WhiteHaX® CyberSafe, developed by IronSDN, is an advanced risk verification and protection app for smartphones and other personal devices that is easy for customers to use. The app is available to individuals insured by HSB’s Home Cyber Protection™, which is added to the homeowners policies of personal lines insurers that work with HSB. The WhiteHaX app also will be available as part of HSB’s new personal standalone cyber insurance program, MyCyberProtection™, through HSB’s insurance affinity group and digital partners. “With billions of connected devices in use, cybercriminals are targeting individuals more than ever before, The WhiteHaX CyberSafe app puts the power of privacy and cybersecurity in the hands of our customers, so they can keep ahead of today’s constantly changing cyber risks.” -Jeffrey O’Shaughnessy, senior vice president of HSB, part of Munich Re Cyber Protection at Home and Away The WhiteHaX app analyzes the security of iOS and Android devices, including mobile phones, and tablets, with proprietary threat intelligence that is updated daily to help prevent phishing, malware, and other cyber risks. A single user sign-up tracks the security and privacy of up to four devices in the household, with the ability to check the status of all devices at home and away with one click. A virtual privacy network (VPN) can encrypt data to help fight cyber threats and online tracking, while on-demand Wi-Fi scans quickly assess if a public or private network is safe. The WhiteHaX app monitors email addresses for data breaches 24/7, issues scam and security alerts, and helps users respond when their privacy is at risk. Our WhiteHaX apps provide some of the most compelling and complete solutions to help mitigate cyber exposures, They are designed to help consumers identify cyber risks on their household personal devices and fix cyber security and privacy-related issues through step-by-step instructions,said Vimal Vaidya, chief executive officer and founder of IronSDN. Hartford Steam Boiler (HSB) HSB, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). Munich Re Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through Hurricane Ida in 2021. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyber risks. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.

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CORE INSURANCE,RISK MANAGEMENT

Inszone Insurance Services Successfully Acquires Carmichael Associates

Inszone Insurance Services | January 09, 2023

Inszone Insurance Services, a national provider of personal and commercial lines insurance, acquired Carmichael Associates, Inc., a long-time employee benefits insurance company. Inszone will gain from the acquisition of Carmichael because it is well-known among the locally-owned businesses in the Los Angeles area. In addition, the company is popular for its eased and simplified services in managing human resources and determining appropriate insurance plans for the employees and workers of the local business owners. Carmichael's customers will continue to receive the same level of service under the Inszone Insurance Services brand, located in Lakewood (California). The company offers customers a genuine one-stop buying experience designed to simplify and streamline a complex process. Employee benefits remain a crucial area of growth for Inszone Insurance Services. As a rapidly growing and expanding insurance service provider in all 50 states of the United States, the company looks forward to the work that will help it achieve its goals and acquire more benefits-focused agencies in the future. "Carmichael's team of professionals have been exceptional in the field, and we are thrilled to incorporate their innovation into the Inszone's framework," - Chris Walters, CEO of Inszone Insurance Services (Source:BusinessWire) About Inszone Insurance Services Founded in 2022, Inszone Insurance Services is a full-service insurance brokerage firm that offers a wide range of property, casualty insurance, and employee benefits solutions. With an experienced management team focused on the goals, it grows organically through acquisitions. With 35 locations in California, Arizona, Utah, Nevada, Colorado, Illinois, Texas, and Missouri, the company is looking to expand further across the country. It is focused on helping each customer understand and make sense of their insurance needs, the coverage they need, and the policy they are buying.

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