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Willis launched its Reputational Risk Quantification Model for celebrity endorsement. Powered by rich datasets from Polecat, the model quantifies the reputational risk associated with celebrity endorsers and brand ambassadors. Willis will be hosting its next Reputational Risk Roundtable event for senior executives and risk professionals on Thursday, Feb. 26, discussing its new celebrity endorsement feature, exploring the risks and pitfalls, overcoming financial impacts and fiduciary risks, as well as how to manage and transfer reputation risks. Register here.
BayPine LP has acquired Relation Insurance Services, one of the largest independent insurance brokers in the United States, from Aquiline Capital Partners LP. Financial terms were not disclosed. Relation's management team, including Chief Executive Officer Tim Hall, will continue to lead the company.
Hartford Steam Boiler has launched Commercial Cyber for Auto, a new cyber insurance coverage protecting internet-connected commercial vehicles from hackers as connected fleet technology expands the operational risk profile for small and midsize businesses.
Insurity announced major advancements to its Billing-as-a-Service platform, establishing it as a lower-cost model for billing than running operations internally. The expansion directly addresses the long-held belief that internal billing operations are the most economical option for carriers and MGAs. By centralizing payments, collections and reconciliation on a single standardized platform, Insurity reduces the hidden operational costs, staffing requirements and system maintenance burdens that often make in-house billing more expensive than it appears.
Canopius has partnered with Canopius US Marine and Globex Underwriting Services to provide placement of local marine policies globally. The partnership enables Canopius to extend admitted local coverage to more than 200 countries and territories worldwide, supported by Globex Underwriting Services' established global network, digital infrastructure and deep international expertise. With built-in support for compliance, tax requirements, claims handling and premium collection, Canopius gains the ability to quickly and confidently become a multinational marine coverage market.
CRC Group launched its CRC Insurisk Assault & Battery Liability product, designed to deliver lender-compliant protection as the general liability market continues to restrict or exclude assault and battery coverage. The CRC Insurisk A&B Liability product provides dedicated, occurrence-based coverage backed by A+ rated paper, offering insureds meaningful protection while meeting lender requirements.
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