Filed Under:Agent Broker, Commercial Business

Around the P&C insurance industry: Sept. 20, 2017

News from The Risk Management Association Foundation, GC Securities, Enservio Inc. and more. (Photo: Thinkstock)
News from The Risk Management Association Foundation, GC Securities, Enservio Inc. and more. (Photo: Thinkstock)

The Risk Management Association Foundation has announced it is accepting applications through October 22 from college students who intend to pursue careers in the financial services. More information can be found at The Risk Management Association Foundation Scholarship Program.

GC Securities, a division of MMC Securities LLC, has announced the establishment of Cerulean Re SAC Ltd., a private syndicated collateralized reinsurance platform and Bermuda registered segregated account company and licensed special purpose insurer. The solution will help insurers access the necessary capital to enter new markets while initiating relationships with capital markets investors. 

Enservio Inc. a Solera owned company, has launched, a free contents inventory creation tool to assist citizens with inventorying their lost or damaged personal property. The web-based app is powered by Enservio's SaaS contents platform and offers features like intelligent autocomplete typing, receipt and image uploading. 

Auto-Owners Insurance has announced a Win One + Give One sweepstakes. One grand prize winner will receive a $10,000 shopping spree at Furniture Row/Denver Mattress and Auto-Owners Insurance and Furniture Row will both make $10,000 donations to a local chapter of the Salvation Army. More information can be found on the sweepstakes page

NFP has acquired Beacon Insurance Group Inc. Terms of the transaction, which closed effective August 1, 2017, were not disclosed. 

Arizona-based CopperPoint Mutual Insurance Company has announced a definitive agreement to acquire California-based workers' compensation carrier Pacific Compensation Insurance Company for $150 million in cash. The combined book of underwriting business for the two companies will represent approximately $400 million in premium and a combined asset base of nearly $4.1 billion, with $1.5 billion in policyholder surplus.

Burns & Wilcox has announced a new partnership deal with Olympia Entertainment and Detroit Red Wings. This marks the latest professional sports sponsorship for Burns & Wilcox, including golf’s 2012 U.S. Open winner Webb Simpson and 2016 PGA champion Jimmy Walker.

The United Fresh Produce Association and Western Growers have entered into a formal marketing agreement to jointly promote the Western Growers Shield, an insurance program specifically designed to protect food companies from recall liability. Under the terms of the agreement, United Fresh will exclusively endorse and promote this proprietary program encompassing property, contamination, recall, liability and non-physical damage loss of income.

Intellect SEEC, the insurance software division of Intellect Design Arena, has earned the Gold and Bronze status in the Golden Bridge Awards for its product, Intellect Risk Analyst and its CEO, Pranav Pasricha respectively. 

The National Association of Professional Insurance Agents (PIA) has named Auto-Owners Insurance Company as the recipient of its 2017 Company Award of Excellence. The PIA National Company Award of Excellence honors a company for its commitment to PIA, to the American Agency System and to furthering the interests of professional insurance agents by creating a better business environment.


Around the P&C insurance industry: Sept 6, 2017

News from CNA, Aon Affinity, The Property Drone Consortium and more.

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