Around the P&C insurance industry: September 9, 2020

U.S. commercial insurance prices increased by nearly 10% during Q2 2020, according to Willis Towers Watson's Commercial Lines Insurance Pricing Survey (CLIPS).

Sedgwick has acquired Nationwide Appraisals, an auto damage appraiser and inspection provider for the insurance industry. Founded in 2010, Nationwide Appraisals is an end-to-end solution provider for first- and third-party claims handling. Through this acquisition, Sedgwick says it aims to enhance the company's fully in-house digital claims process with Nationwide Appraisal's technology and network of 1,000 employees.

One80 Intermediaries acquired Equinox Management Group and its affiliates Meridian Management Group and Co-Ordinated Benefit Plans. The terms of the deal were not disclosed. Equinox provides producers with MGU services for travel/accident & health and other specialty property and casualty lines of coverage, operating under the Meridian Management Group brand.

Ryan Specialty Group, LLC and All Risks, Ltd. announced the completion of the transaction to merge the two firms into Ryan Specialty Group. The combination of All Risks and RSG is projected to handle nearly $15 billion in premium during 2020.

Intellect Design Arena, Ltd announced its membership of global banking standards organizations, Banking Industry Architecture Network (BIAN), the nonprofit organization that promotes and provides a common framework for the banking industry. BIAN describes itself as a "collaborative not-for-profit ecosystem" formed of leading banks, technology providers, consultants and academics from all over the world. The organization helps professionals across the financial services sector to lower the cost of banking, increase their speed to innovation in the industry and boost the banks' activities by revisiting and navigating around their existing resources.

Ford and Metromile have agreed to collaborate on new personalized car insurance to give drivers more choice amid COVID-19. Owners of eligible Ford connected vehicles will be able to opt-in and connect their vehicles to Metromile to sign up for pay-per-mile car insurance. As a result of this partnership, Metromile expects to move the insurance industry away from non-driving factors like credit score, gender, profession or ZIP Code. The company adds that its goal is to advance personalized car insurance, where risk and price are based on actual observed driving, which is fairer and more affordable for many drivers.

Heffernan Insurance Brokers has acquired ISU Centinel Agency. The firm purchased the assets of the San Francisco-based ISU Centinel Agency to join Heffernan's retail operations, effective September 1, 2020. Josh Ferenc, senior vice president, David Costello, vice president, and the remainder of the Centinel team have joined Heffernan's San Francisco branch.

Cowbell Cyber announced its cyber insurance program, Cowbell Prime, is now admitted in 18 states, including Texas as well as Ohio, Indiana and Michigan, which were also opened in the past two weeks. The company says its accelerated roll-out reflects its "commitment to close the insurability gap for small businesses by simplifying and expediting the process of delivering cyber insurance."

Midwest Insurance Agency Alliance, Inc., a network of independent insurance agencies across seven states, announced that AIM Agency of Lincoln, Nebraska, has joined the alliance. AIM Agency is a full-service agency that specializes in auto, home, life, accident, health and commercial insurance.

SecureRisk Tennessee donated $10,000 collectively with their SecureRisk partners to the Trusted Choice® Disaster Relief Fund for the victims of Hurricane Laura. The Trusted Choice® Disaster Relief Fund is part of the Independent Insurance Agents & Brokers of America, Inc. and works to assist those who have suffered losses due to a natural or man-made disaster.

Related: Around the P&C insurance industry: September 2, 2020