Verisk has acquired Nasdaq subsidiary Simplitium Limited, which owns and operates Nasdaq Risk Modeling for Catastrophes, a SaaS platform that supports an open ecosystem where specialized model partners make their models, hazard data and analytics available to the industry to help assess and address the global insurance protection gap. The acquisition will provide Verisk clients with access to more than 300 third-party models, providing unique, niche views of risk across the globe.
Coalition announced the new Coalition Active Cyber Policy, a reimagined United States surplus lines cyber policy with data-driven coverage innovations and comprehensive coverage to protect businesses against the ever-evolving digital risk landscape.
Southern Marine launched the Southern Marine Ocean Cargo Admitted Program, a new admitted capacity facility, effective April 1. This expansion marks a significant milestone for Southern Marine, which has historically specialized in excess and surplus solutions.
Totalis Program Underwriters acquired Brownyard MacLean Security Insurance Services. Brownyard MacLean is a leading managing general underwriter and program administrator specializing in the unique exposures of the private security and alarm industries. Brownyard MacLean's Matt MacLean, CEO, and Blair Brownyard, EVP, joined Totalis as senior vice presidents reporting to Tom Gillingham, president of Totalis, and Maureen Tortorici will join as a vice president reporting to MacLean.
Moen announced an initiative with Liberty Mutual Insurance to provide its customers with special savings and installation programs on the Moen Flo Smart Water Monitor and Shutoff devices. By offering the technology at a discount to homeowners, Moen aims to significantly reduce the risk of water damage claim frequency by as much as 96% and reduce household water wasted through preventable leaks by up to 90%.
BroadStreet Partners announced that an investor group led by Ethos Capital, British Columbia Investment Management Corporation and White Mountains Insurance Group, acquired an ownership position in BroadStreet. Under the terms of the agreement, Ontario Teachers’ Pension Plan will maintain a significant co-control stake and operate in partnership with the Ethos-led investor group.
Salvato announced the addition of another insurer to its Salvato Auctions platform. Launching summer 2025, SalvatoAuctions.com will offer 100% insurance vehicles to buyers worldwide at 20% lower fees than traditional auctions. This reduction in fees is made possible by Salvato’s transformative business model.
SageSure and Auros Reciprocal Insurance Exchange, a policyholder-owned insurer, announced the close of the Gateway Re Series 2025-2 catastrophe bond at $150 million. With the completion of this transaction, the SageSure-supported Gateway Re franchise has secured more than $2 billion in cumulative notional limit, making SageSure one of the top five primary insurance carrier catastrophe bond sponsors in the world as of the date of this release.
Transatlantic Underwriters launched a new property and casualty division to expand service offerings while maintaining a strong commitment to transportation clients. The strategic expansion introduced six new lines of business: commercial general & excess liability, commercial property, inland marine, builders risk, and garage. This move represents a significant evolution for TAU, which began as a three-person operation in 1989 and has grown significantly in recent years, with continued growth on the horizon.
American Institute of CPAs established the accounting profession as a career pathway through science, technology, engineering and math. H.R. 2911, the Accounting STEM Pursuit Act, introduced by Representatives Young Kim and Haley Stevens, would allow K-12 grant funding to be used for accounting education, with a focus on improving access for underrepresented students. This will help ensure future leaders are highly skilled and prepared to meet the public's evolving needs.
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