World Insurance Associates LLC acquired the business of ACB Insurance Inc. of Indianapolis on June 1. Terms of the transaction were not disclosed. ACB provides insurance to individuals, families and businesses.
Augment Risk and Cohen & Company have joined forces in a strategic joint venture. The initiative aims to bridge the gap between reinsurance clients and insurance-linked securities capital with unparalleled efficiency, marking a landmark move to transform the reinsurance landscape.
Chaucer Group launched Vanguard, a comprehensive cyber risk management and insurance solution designed to protect organizations in the face of an evolving threat landscape. This new primary business policy marks another turn of the wheel in the evolution of Chaucer’s cyber underwriting. It focuses on complex businesses across a broad spectrum of industry sectors, with available limits of up to $15 million for cyber liability and up to $30 million for cyber property damage.
Hill Country Underwriters has launched a general liability and inland marine product for artisan trade contractors in Texas. The new offering, tailored for contractors in specialty construction trades, is non-admitted and backed by A- VIII rated capacity. Hill Country Underwriters’ core offering provides artisan contractors with general liability coverage to safeguard against third-party claims and inland marine coverage to protect small tools and equipment against loss or damage.
IMA Financial Group, Inc. has partnered with Valent Group, a subsidiary of EBSCO Industries and one of Alabama’s largest privately held insurance brokers, effective October 1.
Icen Risk has expanded into the United States. The expansion comes six months after the strategic equity investment in Icen by Zurich Insurance Group and forms part of its strategic ambitions to grow its presence across Europe and North America. Icen is capitalizing on particularly strong demand for transaction-related cover in the United States, where the market has grown to premium in excess of $1 billion in recent years.
Skyward Specialty Insurance Group, Inc. launched Skyward Specialty EndWell Protection, an industry-first well decommissioning solution built on an escrow-secured bond model. Recent disruptions in the energy sector have highlighted gaps in traditional surety solutions, leading to tightened collateral requirements and reduced market capacity. With many surety providers now limiting support to only investment-grade accounts, Skyward Specialty recognized a critical need for a more transparent and reliable approach to decommissioning bonds.
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