Burns & Wilcox has announced a partnership with the Identity Theft Resource Center (ITRC), a national nonprofit organization established to support victims of identity theft. The partnership will provide retail brokers, agents, clients, and partners of Burns & Wilcox with a prominent resource to help navigate a wide variety of cyber breaches.
Brit Ltd has launched a new Bermuda-domiciled collateralised reinsurance platform, Sussex Capital. Sussex Capital is targeting a launch at the start of the new year with an expected initial capacity of $100 million.
Fair, the first app that lets you get a car on your phone and turn it in any time, has partnered with Assurant. Through the agreement with Assurant, users have the option to enroll in an Assurant-backed property & casualty insurance program through the app that would protect users and their Fair vehicle as long as they have the car.
The Interstate Insurance Product Regulation Commission has elected new officers, adopted a budget an unveiled an enhanced website during its recent Annual Meeting, held by conference call. Members of the Insurance Compact elected Ohio Insurance Director Jillian Froment as chair, Rhode Island Insurance Superintendent Beth Dwyer as vice chair and Idaho Insurance Director Dean Cameron as treasurer. The 2018 Management Committee includes members from Georgia, Illinois, Indiana, Iowa, Maryland, Michigan, New Jersey, North Carolina, Pennsylvania, Texas and West Virginia.
Fidelis Insurance has taken an equity stake in a new MGA Firestone Surety Limited and will be providing underwriting capacity. Firestone will focus on the small and medium-sized enterprises sector of the surety market and will be managed through Pine Walk Capital Limited, Fidelis' subsidiary MGA platform.
The Navigators Group Inc. has entered into a share purchase agreement for the purchase of all of the shares of Assurances Continentales – Continentale Verzekeringen NV and Bracht, Deckers & Mackelbert NV. The transaction is subject to the satisfaction or waiver of customary closing conditions, including among other things, the receipt of regulatory approval, and is anticipated to close in the first half of 2018.
American Family Insurance has acquired Networked Insights, another sign of the company's investment in AI and related technology. Terms of the transaction were not disclosed.
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