Missouri Statute Update Shields Insurers from Certain Bad Faith Litigation

insurancejournal | May 17, 2019

Missouri Statute Update Shields Insurers from Certain Bad Faith Litigation
In Missouri, insurance companies owe a contractual duty to defend civil actions that allege liability of their insured’s that is potentially covered under the terms of the subject insurance policy.As part of that duty, the insurer must act in good faith in its attempt protect its insured from a judgment in excess of the insurance policy limits. This task can be made even more complicated when there are multiple parties asserting claims against the insured.

Spotlight

The survey revealed an influx of new-to-market buyers of standalone cyber insurance, the majority of the smaller (categorized as businesses with revenues of less than $50 million) and mid-sized businesses (revenues of $50 million to $1 billion). This may reflect an already higher insurance take-up rate among larger organizations, but the trend remains heartening, an indication that smaller businesses are beginning to more fully understand their risks.

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INSURANCE TECHNOLOGY

NEXT Insurance Participates in Amazon Insurance Accelerator

NEXT Insurance | August 10, 2021

NEXT Insurance, the leading digital insurtech company transforming small business insurance, today announced it is participating in Amazon Insurance Accelerator, providing Amazon sellers looking to buy insurance with instant quotes at competitive rates, directly within Amazon Seller Central. NEXT is the only US-based carrier currently participating in the initiative, further building on its partnership with Amazon Business Prime, NEXT's fully digital, customized e-commerce General Liability coverage also provides sellers with instant, automated Certificates of Insurance (COI) and seamless online claims resolution processes. "The pandemic ushered in a tremendous amount of innovation and growth for small business e-commerce strategies and access to simple and affordable insurance to protect their livelihood is more important than ever," said Guy Goldstein, CEO of NEXT. "NEXT's digital insurance products are easily embedded into the software systems that small businesses regularly use to run their companies. Today, through Amazon Insurance Accelerator, sellers can seamlessly purchase NEXT's affordable and customized insurance coverage for a simple, frictionless experience. We are excited to partner with Amazon to support small businesses in their quest to thrive." Amazon requires most third-party sellers carry commercial liability insurance in order to protect both customers and sellers. Through Amazon Insurance Accelerator, third-party sellers on Amazon will be referred to NEXT's online application directly from their account. In 10 minutes or less, sellers can get a customized quote and bind a policy. NEXT automatically adds Amazon as an 'additional insured' and instantly emails COI information back to the seller, creating a simplified, no-worry insurance process that meets Amazon's requirements. In the past, sellers would have to manually mail in COIs, but with this innovative NEXT feature, customers can experience the simplicity and ease of a truly digital experience so they can focus on what matters most - running their business. To further support small business owners, NEXT is offering an exclusive 10% discount on General Liability insurance for Amazon third-party sellers. Learn more about how to partner with NEXT to help your customers access affordable, simple and fast small business insurance. About NEXT Insurance NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by 250K business owners, NEXT offers policies that are easy to buy in 10 minutes or less and provides 24/7 access to Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process and drive down costs by up to 30% compared to traditional policies.

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FAO, GAIN and Johns Hopkins Alliance for a Healthier World Launches Online Food Policy Tool

FAO | June 05, 2020

The Global Alliance for Improved Nutrition (GAIN) and The Johns Hopkins Alliance for a Healthier World have launched a new online food policy tool designed to help decision makers. The Dashboard houses food systems of more than 230 countries and territories by bringing together data for over 170 indicators from 35 sources. Policymakers would also be able to look at long-term average annual precipitation in their country and how this is changing over time in the face of climate change. The Food and Agriculture Organization of the United Nations (FAO), The Global Alliance for Improved Nutrition (GAIN) and The Johns Hopkins Alliance for a Healthier World have launched a new online food policy tool designed to help decision makers. The Food Systems Dashboard is a holistic resource intended for policymakers, non-governmental organisations, businesses, civil society leaders, and other actors to enable timely visualisation of national food systems, understand the interconnections across multiple sectors, perform comparisons with other countries, identify key challenges, and prioritise actions. What struck us back in 2017 while working on the UN High Level Panel of Experts on Food Systems and Nutrition Report was the lack of accessible, organised, quality-checked information on food systems. Without that data, it’s difficult to identify the best evidence-based actions that could improve food systems. It was really important to us, given the level of complexity and interconnections inherent to food systems, that the data be presented in a way that is easily usable – and that’s what the Dashboard does. Now decision makers have easy access to both data and to policy advice that is specific to their situations, Johns Hopkins Global Food Ethics and Policy Program Director, Jessica Fanzo. The Dashboard houses food systems of more than 230 countries and territories by bringing together data for over 170 indicators from 35 sources. It aims to enable stakeholders to compare their food systems with those of other countries, and will provide guidance on potential priority actions to improve food systems’ impacts on diets and nutrition. Read More: IBM and Aegon Join Forces to Enhance the Service for Around 800,000 Customers Digitally “The Dashboard has the potential to halve the time required to gather the relevant data, helping public agencies and private entities to grasp the three Ds more rapidly: Describe national food systems, Diagnose them to prioritise areas for action, and then Decide on the action to take based on plausible interventions that have been tried in other countries,” said GAIN’s Executive Director and World Food Prize winner, Lawrence Haddad. For example, a policymaker in the Ministry of Health can look at country-level data about people’s intake of fruits, vegetables, and whole grains, as well as nutrition and health outcomes such as high blood pressure, which may indicate a correlation between lower intakes of these nutritious foods and a higher prevalence of high blood pressure. The data can be compared across countries by region, food systems type, or income classification to inform public health policies to promote increased intake of these foods. Policymakers would also be able to look at long-term average annual precipitation in their country and how this is changing over time in the face of climate change. This, paired with data on the percent of cultivated land equipped for irrigation, aims to help inform decisions such as how to best utilise their agricultural water sources to increase yields of key crops. FAO is contributing its extensive expertise in making complex food systems information more transparent and accessible to this project and looks forward to further collaboration with our partners and beyond to secure the success of this initiative, FAO Director-General, Qu Dongyu. “The Dashboard is open to all and will foster much needed cooperation in transforming our food systems. With the threats and opportunities presented by COVID-19, we need more collaboration between stakeholders who care about hunger, nutrition, livelihoods, climate, biodiversity, and sustainable natural resource use. Working together and sharing information is also essential in order to meet the Sustainable Development Goals, which are now just 10 years away,” Dongyu added. Read More: InsurTech Leaders Partner to Provide Independent Agents With Tailor-made Business Solutions About FAO The Food and Agriculture Organization (FAO) is a specialized agency of the United Nations that leads international efforts to defeat hunger. Our goal is to achieve food security for all and make sure that people have regular access to enough high-quality food to lead active, healthy lives. With over 194 member states, FAO works in over 130 countries worldwide. We believe that everyone can play a part in ending hunger.

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CORE INSURANCE

Partner Platform has Announced a Partnership with ePayPolicy

SIS, ePayPolicy | June 02, 2021

Now independent insurance agents using Strategic Insurance Software's Partner Platform agency management system can easily take digital payments making it convenient, simple, and secure for their insureds to pay premiums directly from the agency website, client portal, or agency mobile app. "Enhancing and improving our agency clients' ability to serve their insureds through technology is that the focus of the Partner Platform," said Bryce Lee, Director of Product Management for SIS. "We search for insurance technologies that complement Partner's innovative 'digital client experience' tools, including state-of-the-art client portal and mobile app. ePayPolicy may be a great example, through their system our clients' insureds can make payments regardless of where they're, or once they got to submit their payment." "Consumer demand for easy, paperless payments has been growing for decades, and our industry is now catching up to what's been standard practice in most other industries," said Todd Sorrel, one of ePayPolicy's founders. "In the same way that modern management systems like Partner Platform just 'make sense,' we believe ongoing, integrated digital payments also make sense, because it makes life easier for everyone involved, not just the insured." With this integration, ePayPolicy joins a growing list of "Partner Allies" that provide products and services which work together with the Partner Platform agency management system to enhance the independent agency's capacity to retain, grow, and service clients. These relationships are more than integrations – they are commitments from like-minded vendors collaborating to serve mutual clients and leveraging diverse strengths to enhance the experience of our agencies. About SIS Headquartered in Columbus, Ohio, Strategic Insurance Software (SIS) is the team behind Partner Platform -- the agency management system that sets independent agents free from the established order of over-paying and under-utilizing their agency software. "Partner" is more than a name – it's who we are About ePayPolicy Built by insurance professionals for the insurance industry, ePayPolicy is on a mission to replace paper checks for all agency billing. By offering a convenient, secure solution for independent agencies, brokers, MGAs, and premium finance companies, ePayPolicy is transforming how the independent insurance industry collects payments and sends funds.

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Spotlight

The survey revealed an influx of new-to-market buyers of standalone cyber insurance, the majority of the smaller (categorized as businesses with revenues of less than $50 million) and mid-sized businesses (revenues of $50 million to $1 billion). This may reflect an already higher insurance take-up rate among larger organizations, but the trend remains heartening, an indication that smaller businesses are beginning to more fully understand their risks.