Boston-based catastrophe modeling company AIR Worldwide said it has expanded and enhanced its earthquake and typhoon model for India to include the ability to account for earthquake shake and liquefaction. The model's seismicity analysis covers areas with seismic activity that may affect India, Pakistan, Nepal, Bhutan and Bangladesh, however the model assesses damage and loss for locations within the boundaries of India.
Specialty reinsurer Sompo Canopius AG, based in Zurich and but owned by Sompo Japan Nipponkoa Insurance Inc., and Mexico City-based Grupo Nacional Provincial SAB, said they will work together to develop new business and insurance products for the Mexican market.
Waco, Texas-based Texas Farm Bureau Insurance said it has asked the Texas Department of Insurance to approve a Homeowners' policy update that would include a mandatory mediation-arbitration clause. The policyholder could add the optional endorsement in exchange for a premium discount. A hearing on the matter is scheduled for July 6.
Pennsylvania-based Erie Insurance announced that it has added new cloud-computing coverage to its TechAdvantage equipment breakdown coverage.
OneBeacon Insurance Group of Plymouth, Minnesota, recently awarded 16 $2,000 college scholarships, including eight to OneBeacon employees' children and eight to children of the company's distribution partners. Recipients were selected based on criteria such as academic performance, leadership roles and participation in school and community activities.
Universal Insurance Holdings Inc., based in Ft. Lauderdale, Florida, announced that the Alabama Department of Insurance has approved the Homeowners' insurance rates and forms of its wholly owned subsidiary, Universal Property & Casualty Insurance Co., which is now writing policies in that state.
Chicago-based online insurance-quoting platform Insurance Noodle said it has opened a new farm and ranch quoting facility.
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