Cigna Corporation has acquired Zurich Insurance Middle East. Terms of the acquisition were not disclosed.
Insurance data, analytics and telematics provider LexisNexis Risk Solutions has partnered with vehicle tracking systems provider Modus to provide insurers more options in after-market solutions to gather data and apply advanced analytics in developing and managing their UBI programs. Through this alliance, Modus is joining the LexisNexis Telematics Exchange.
The Institutes has formed RiskBlock, a blockchain consortium for the risk management and insurance industries. For more information about blockchain technology and to receive updates on The Institutes RiskBlock Alliance, visit TheInstitutes.org/Blockchain.
Jacksonville, Florida-based property & casualty insurance retailer Brightway Insurance opened three new agencies. The offices will be located in:
- Vestavia Hills, Alabama
- Fishers, Indiana
- Tuscon, Arizona
AXIS Capital has received final authorization from Lloyd's, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) for its own Lloyd's managing agent, AXIS Managing Agency Limited. Effective Aug. 4, AXIS Managing Agency will assume management of AXIS Syndicate 1686 at Lloyd's, replacing the Company's third-party managing agency agreement with Asta Managing Agency Limited.
Insurance brokerage Hub International Limited has acquired Winter Park, Florida-based MillsonJames LLC. Terms of the deal were not disclosed.
The Property Drone Consortium (PDC), which consists of insurance carriers, roofing industry leaders and supporting enterprises, announced that its president, Charles Mondello, joined the Federal Aviation Administration's (FAA) Drone Advisory Committee Sub-Committee (DACSC).
Mayer Brown's Global Insurance Industry Group has launched Insurtech by Mayer Brown, a website dedicated to providing timely, newsworthy developments and content focusing on the convergence of traditional insurance and technology.
Fort Lauderdale, Florida-based Workers' Compensation outsourcing services company Patriot National Inc. has elected Glenn Hibler as chairman of its board of directors. Hibler is the co-founder of Traffk, a California-based provider of underwriting and risk services to insurance carriers.
Beazley has launched environmental coverage in Canada, which includes operational coverage for businesses that may face claims for polluting the premises of third parties; professional liability coverage for environmental consultants; protection for ongoing fixed-site operations; contractors' pollution liability; and brownfield site remediation.
Bermuda-based specialist insurer Hiscox has launched Security Incident Response (SIR), a new security response coverage in the U.S. that provides incident response, crisis management, strategic advice and recovery services for threats including criminal, political, terrorism and political violence risks, as well as information risks such as cyber threats, and kidnap, detention and extortion risks.
Travelers Cos. has launched a usage-based auto insurance app named IntelliDrive, available to customers in Minnesota and Nevada. IntelliDrive will capture driving information for all enrolled drivers in the household for 90 days and determine an overall score; renewal premiums will be based on that score.
Willis Towers Watson has launched a virtual actuarial workspace called vPlace. The Software-as-a-Service (SaaS) platform has been developed to help meet the industry's need to reduce IT costs and find more efficient ways to respond to business and regulatory pressures, which legacy IT infrastructure is failing to address.
Willis Towers Watson has also launched a new cyber work diagnostic tool designed to help organizations assess cyber readiness. The tool includes a complete workforce review to assess requisite skills as well as a plan to identify talent gaps within the organization and relative to benchmarks.
CopperPoint Insurance Companies has elected Marc Schmittlein to its board of directors. Schmittlein is president and CEO of CopperPoint.
CopperPoint also re-elected the following to the board:
- Judith Patrick, principal, R.G. Patrick Ltd.
- Ken Kirk, president, CEO of Meridian Financial Holdings LLC.
- Ronnie Lopez, board member since 2009.
Burns & Wilcox will extend and expand its golf sponsorship deal with 2012 U.S. Open winner Webb Simpson. The expanded sponsorship will kick off this week during the 146th Open at Royal Birkdale in England.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.