TRICHOME | June 06, 2022
Attender Underwriting Managers dba TRICHOME, a managing general agency, with the only cannabis dispensary insurance product endorsed by the National Cannabis Risk Management Association, today announced new initiatives designed to improve its ability to offer its unique products to a cannabis marketplace in need of broader solutions.
Jeffrey C. Conway will assume the combined role of CEO and President of TRICHOME. Conway is currently the CEO and a founding member the company with over 30 years of underwriting, reinsurance, wholesale, program, and captive management experience. He replaces Rocco Petrilli who served in a role as interim president before accepting the role of CEO and president of National Cannabis Risk Prevention Services (NCRPS). Conway is joined by Thomas Cioletti, who was recently promoted to Vice President of Underwriting and Operations. Together they lead a team that builds, underwrites, launches, and manages property and casualty insurance coverages focused solely on cannabis.
TRICHOME has upgraded its dispensary offering to "A" rated paper and continues to make improvements to its easy-to-use agent platform and extremely user-friendly application process. TRICHOME features extensive risk management and loss control, broad coverage enhancements, a proprietary property rating systems that rates perils from a single point geographic location, and a pseudo-Insurtech approach to dispensaries, which enables their team to turn quotations around within 24 hours.
"We are wildly excited about the future and extremely thankful to Rocco Petrilli for his leadership and brilliant approach to truly risk management-based insurance products", stated Conway. "We will continue the vision to build and offer risk management and insurance that promotes the long term sustainability needed in the cannabis marketplace."
Demotech, Inc. | April 01, 2022
Effective March 29, 2022, Demotech, Inc. withdrew the Financial Stability Ratings® (FSRs) previously assigned to Lighthouse Property Insurance Corporation and Lighthouse Excalibur Insurance Company.
Despite a substantial capital contribution in the fourth quarter 2021, the operating loss in 2021, which reflected the evaluation of losses and loss adjustment expenses associated with Hurricane Ida, resulted in a level of capitalization below what was needed to sustain FSRs at the A level."
Joseph Petrelli, President, Demotech, Inc.
About Demotech, Inc.
Demotech, Inc. was the first firm to review independent, regional and specialty insurers. Since 1985, Demotech has served the industry by assigning accurate, reliable, and proven Financial Stability Ratings® to Property & Casualty insurers and Title underwriters. FSRs provide an objective baseline of the solvency of an insurer. Demotech's philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Demotech's increasing accreditations and acceptances has resulted in its review of more than 450 insurers operating in the US.
Freeway Insurance | February 04, 2022
Freeway Insurance, the largest auto insurance and personal lines distribution company in the United States, announced today it is expanding its sponsorship with Trackhouse Racing and NASCAR driver Daniel Suárez.
Freeway Insurance began its partnership with Trackhouse Racing as a primary sponsor during the racing organization's inaugural season in 2021. As part of this continued partnership, Freeway Insurance will be the primary sponsor of Suárez for five events during the 2022 NASCAR Cup Series.
"We are proud to continue our relationships with Trackhouse Racing and Daniel Suárez, and have enjoyed joining them on their journey to expand NASCAR's fan base. NASCAR fans, whether lifetime fans or new this year, are an ideal audience for our products and services, We are also inspired by Daniel's personal story as the first Mexican champion in NASCAR and are thrilled to work with Daniel as a trusted ambassador of our brand."
-Cesar Soriano, Chief Executive Officer of Freeway Insurance.
A Monterrey, Mexico native, Suárez became the first and only foreign-born national series champion in NASCAR history following his 2016 Xfinity Series title. Last year, Freeway Insurance centered a national advertising campaign around Suárez, including the only Spanish-language commercial featuring a NASCAR driver.
This season, Freeway Insurance will serve as primary sponsor on Suarez's No. 99 Chevrolet Camaro at the Clash at the Coliseum in Los Angeles on Sunday, Auto Club Speedway in Fontana, California on Feb. 27, the All-Star Race at Texas Motor Speedway in Fort Worth on May 22, Atlanta Motor Speedway on July 10, and Daytona International Speedway on Aug. 27. For the remaining races, Freeway Insurance logos will adorn the c-post on the No. 99 Chevrolet, team uniforms, team transporter and pit equipment, as well as Suárez's uniform and helmet.
Freeway Insurance joins Trackhouse Racing's family of corporate partners that include AdventHealth, Chevrolet, CommScope, Coca-Cola, iFLY, K1Speed, Moose Fraternity and Tootsie's.
About Freeway Insurance:
Freeway Insurance, Inc., established in 1987, is the leading personal lines insurance agency in the United States, and is an affiliate brand of Confie. As also one of the fastest-growing nationwide insurance distribution companies, Freeway offers insurance policies via a "click, call, or come-in" approach that provides customers coverage throughout the United States. The company is constantly researching, growing and diversifying product offerings to stay responsive to the ever-evolving insurance market. Freeway offers a wide range of plans, from the most basic to premium plans, in auto, truck, commercial vehicle, fire, flood, homeowners, renters, small commercial, motorcycle and recreational vehicle insurance products. In 2008, Freeway Insurance joined Confie, a national insurance distribution company. Today, Freeway Insurance services customers in more than 500 offices.
Empathy | June 15, 2022
Empathy, a platform helping families navigate the journey they face after losing a loved one, today announced a partnership with New York Life Group Benefit Solutions, a leader in the group insurance market. The partnership is an expansion of the partnership announced between Empathy and New York Life1 last year to provide beneficiaries with logistical and emotional support after the loss of their loved ones.
Bereaved employees and their families are often left grieving and in distress, not just from the loss itself, but also from the logistical challenges that follow. According to Empathy's recently released Cost of Dying 2022 Report, families spend, on average, 420 hours tending to their loved one's affairs in the weeks and months following the loss. Moreover, the same report found that returning to work created additional stress, with 70% of younger respondents reporting either lowered performance, concern for their job, or both.
New York Life Group Benefit Solutions offers compassion and caring guidance to help employees and their families navigate a loss. Through their partnership, Group Benefit Solutions will bring Empathy's award-winning platform to their employer clients and their employees in need of support.
Empathy offers a holistic approach to bereavement care, helping simplify end-of-life bureaucracy, minimizing tedious tasks, and automating processes involved in the administration of an estate—while providing emotional support throughout. Dedicated care specialists are available to support families through every aspect of loss, both emotionally and logistically, 24/7.
Going back to work after losing a loved one can be extremely challenging. There are so many logistical burdens that still need to be navigated that it often feels like you are working two jobs when you are grieving and at your most vulnerable. We have seen, unequivocally, the quantifiable impact technology can have in easing the burdens on bereaved employees, Employers who acknowledge and support their grieving team members are doing more than extending a kindness. They are also making a decision that is good for their organization. We are delighted to further our work with New York Life and proud of our shared dedication to supporting bereaved families across the U.S."
Ron Gura, Co-Founder & CEO of Empathy.
Empathy's partnership with Group Benefit Solutions follows its ongoing work with New York Life's Group Membership Association Division, an operation dedicated to delivering protection products to group and affinity organizations. The Group Membership business provides life insurance beneficiaries with loss support through access to the Empathy app.
New York Life Group Benefit Solutions provides services and caring guidance through efforts and opportunities that align with the values of our company, Our partnership with Empathy, plus grief resources from the New York Life Foundation, highlight the breadth of bereavement programs and tools available to our clients and their employees."
Meghan Shea, head of strategy, product, and marketing for Group Benefit Solutions.
Empathy's mission is to help families deal with loss, incorporating both emotional and logistical support for the families in their time of need. Powered by technology and driven by purpose, Empathy's application, awarded Google Play's 2021 "Best App for Good" and CB Insights' "Top Digital Health Companies Of 2021," simplifies and streamlines end-of-life bureaucracy with personalized plans and grief support. Launched in 2021 and headquartered in New York and Tel Aviv, Empathy is backed by top tier VC firms and serves Fortune 100 enterprise customers alongside its direct-to-consumer offering.