News from SCOR, Ford , Beazley and more. (Photo: Shutterstock)
SCOR integrated the cyber risk model developed by CyberCube. Using the flexibility of SCOR's Cat Platform and CyberCube's Model Integration Application Programming Interface to create a CAT Platform designed to manage natural catastrophe risk accumulations and adapted it to meet its cyber risk assessment needs. By integrating CyberCube's risk model alongside other natural catastrophe models within its CAT Platform, SCOR has further expanded its catastrophe modeling capabilities.
Skyward Specialty Insurance Group, Inc. acquired Aegis Surety and the simultaneous sale of XPro. K2 Insurance Services is both the seller of Aegis Surety and the buyer of XPro. Aegis Surety offers surety bonds to a broad range of contractors in addition to commercial surety. The company specializes in underwriting bid, performance, payment, supply and maintenance bonds.
Insurity announced that Victory Insurance has expanded its Workers' CompXPress implementation to 47 states in less than two months to power its managing general agent program. Through Insurity's highly-configurable solution purpose-built for workers' comp insurers, Victory can now provide its carrier and MGA partners with a full suite of policy, billing and claims services.
Beazley enhanced its pioneering reputational risk insurance policy by providing artificial intelligence-enabled tools to help policyholders control their corporate brand and reputation more effectively. Underwritten by the Custodian Consortium at Lloyd's led by Beazley, the reputational risk policy protects organizations through the lifespan of a crisis. Coverages include crisis management services to minimize reputational damage and business interruption cover that insures against the impact to profitability of a downturn in revenue.
One80 Intermediaries acquired Corieri and Associates, Inc., a New York-based program administrator that specializes in property and casualty insurance for public entities throughout New York and Pennsylvania. Terms of the deal were not disclosed. Founded in 1987 and based in Garden City, New York, Corieri and Associates provides multiple property and casualty structures to fit the public entity marketplace's ever-changing requirements. Products include primary packages and excess insurance, self-insured retentions, and deductible structures.
Purmort & Martin Insurance Agency acquired Jeff DeJongh and Associates to further expand its presence in the region. Located in Sarasota, Fla., Jeff DeJongh and Associates is a property and casualty insurance agency that serves Hillsborough, Manatee, Pinellas and Sarasota Counties. Jeff DeJongh, who possesses more than 18 years of sales and management experience in the insurance, financial services and medical and dental device professions, will join Purmort & Martin Insurance Agency as the vice president of sales.
Chubb launched its Chubb WorkInsightSM solution which integrates and streamlines absence management and workplace benefits for mid-size to large employers. The new single solution is made available through Chubb's Workplace Benefits division. Chubb's new WorkInsight solution enables employers to proactively track and manage workers' compensation; Family Medical Leave Act; company-specific leaves; short-term disability; and accident, critical illness; and hospital indemnity programs. Chubb WorkInsight gives employers comprehensive data and reports that enable them to make informed and impactful decisions that benefit both employees and employers.
Verisk offered fire departments across the U.S complimentary access to ISO Mitigate, an interactive web platform that offers data-driven analytics to support strategic planning. Verisk's Mitigate platform allows fire chiefs and local officials to benchmark their community's Public Protection Classification score, visualize their performance and make data-driven decisions about investing in fire safety and preparedness. The program, which is used by the vast majority of insurers for property insurance rating, measures the fire prevention and suppression systems of nearly 40,000 communities in the United States.
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