Filed Under:Agent Broker, Commercial Business

Around the P&C insurance industry: October 18, 2017

News from Sovos, West Bend Mutual Insurance Company, Trov and more.  (Photo: Thinkstock)
News from Sovos, West Bend Mutual Insurance Company, Trov and more. (Photo: Thinkstock)

Global tax compliance and reporting software company Sovos has acquired U.K.-based FiscalReps, Europe's leading solution for insurance premium tax compliance. Terms of the transaction were not disclosed. 

West Bend Mutual Insurance Company has awarded Dennis Kuhnke, national and state leader of the National Association of Professional Insurance Agents (PIA), as the 2017 recipient of the W.E. "Mike" Koehler Distinguished Agent of the Year Award. In recognition of the award, West Bend donated $5,000 to the Midwest Athletes Against Childhood Cancer Fund in Kuhnke's name. 

Trovthe on-demand insurance platform, has been approved by the regulator in its home state of California. Trov has now been approved in 31 states, with the latest additions including Idaho, Ohio, Nebraska, Rhode Island and Virginia. 

Slice Labs Inc. has announced a Series A investment of $11.6M led by XL Innovate, with participation from Horizons Ventures, Munich Re / HSB Ventures, SOMPO, Plug and Play, and Tusk Ventures. The financing will be used to scale Slice’s on-demand offering for new products and jurisdictions, and to accelerate the deployment of its on-demand digital insurance platform with marquee partners. 

Wholesale insurance broker and underwriting manager Burns & Wilcox has announced the relocation and expansion of its Philadelphia office, its second investment in the state of Pennsylvania this year. The new office is located at 100 Tournament Drive, Suite 260, Horsham, PA 19044

Risk Cooperative has been approved as a Lloyd's coverholder. This ability to provide up to $10 million in stand-alone cyber insurance coverage matches the current market average and enables fast-track approval. 

Jeff Slivka, president of New Day Underwriting Managers LLC, will address the “Anatomy of a Contractor’s Professional Liability Policy (CPrL)” at the 37th Annual IRMI Construction Risk Conference to be held November 5-8 in Indianapolis, Indiana. During his November 6th session titled “Solving the Contractors Professional Liability Puzzle,” Slivka will explore the advances in CPrL coverage forms including the evolution of contractors protective indemnity and rectification/mitigation (R/M) insurance.

Arthur J. Gallagher & Co. has acquired Santa Fe, New Mexico-based Reynolds & Rodar Insurance Group Inc. Terms of the transaction were not disclosed.

Guidewire Software, Inc., a provider of software products to property and casualty insurers, has been recognized in the Challengers quadrant in Gartner Inc.'s “Magic Quadrant for P&C Core Platforms, North America1” for InsuranceNow. InsuranceNow is a cloud-based, all-in-one solution that supports the P&C insurance lifecycle.

Guidewire Software, Inc. has also announced that Guidewire InsuranceSuite has been recognized as a Leader in Gartner Inc.'s “Magic Quadrant for P&C Core Platforms, North America1.”

Western Growers, responding to the significant increase in H-2A usage throughout the agricultural industry, has created new insurance options for employers who use the temporary ag labor program. The new insurance solution covers risks specifically associated with the use of the H-2A program. 

Enservio has created WildfireContents.com in an effort to help victims of the wildfires in Northern California wine country. The website is a self-service contents inventory solution for policyholders to document lost possessions and generate a contents inventory document to support an insurance claim. 

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Around the P&C insurance industry: October 4, 2017

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