Tradesman, Clear Blue and R&Q Accredited

Tradesman: Clear Blue will support expansion of NY construction market footprint

2022-11-28T15:15:00+00:00

The move of Tradesman’s flagship $200mn+ contractors’ general liability (GL) program to Clear Blue will allow both parties to grow their footprint in the New York construction market but is also being seen as a major blow for R&Q’s Accredited platform, which has lost the deal to its hybrid fronting ...

1.800MD

Telemedicine drives efficiencies for low-severity, high-frequency claims

2022-11-28T13:56:00+00:00

The Covid-19 pandemic helped accelerate the adoption of telemedicine services, and according to the founder and CEO of telehealth firm 1.800MD, the segment’s track record in the past several years has proved it can drive expense efficiencies for low-severity, high-frequency claims.

Rokstone and Builders

Rokstone adds Builders capacity to wood frame program

2022-11-28T13:55:00+00:00

Expansive MGA platform Rokstone has secured $5mn of additional capacity per risk from Builders Insurance Group as it continues to build capacity towards $100mn on the wood frame builder’s risk program written by its Construction Risk Underwriters (CRU) division in the US, Program Manager can reveal.

AmRisc, Catalytic and Velocity Risk

Lower-than-expected Ian losses for some MGAs but capacity challenges remain

2022-11-28T13:55:00+00:00

AmRisc has reduced its preliminary Hurricane Ian loss estimate on its E&S portfolio from $800mn to a range of $450mn to $650mn while several other cat-focused MGAs have seen claim frequency and severity from the storm come in meaningfully below initial expectations, Program Manager can reveal.

Tuckerman Underwriting – Lloyd's

Newly appointed Lloyd’s coverholder Tuckerman looks to expand beyond PL

2022-11-28T13:55:00+00:00

After recently securing Lloyd’s coverholder status, Tuckerman Underwriting will look to expand product offerings beyond its initial professional liability (PL) program with a potential move into the allied healthcare market, Program Manager has learned.

Corvus

Corvus in talks with ILS funds and other capacity providers to support growth

2022-11-28T13:55:00+00:00

Corvus is in discussions with various capacity providers including ILS funds to support its growth, while the cyber MGA is also actively hiring to support its broader continental European ambitions as it prepares to begin writing business in Germany and Austria early next year.

PERse – renewable energy

PERse eyes capacity to support growth amid increasingly competitive renewables market

2022-11-28T13:54:00+00:00

Ryan Specialty’s renewable energy-focused MGU PERse is diversifying its book of business and eyeing opportunities in emerging technologies, while also targeting new capacity providers to support its growing platform at a time when interest and competition in the specialist sector has never been higher.

One80 and InstaCover

One80 acquires equipment insurance agency InstaCOVER

2022-11-22T15:16:00+00:00

Independent wholesaler One80 Intermediaries has acquired InstaCOVER, an independent insurance agency and technology platform specialising in point of sale insurance coverage for commercial, healthcare and rental equipment. 

IM-SurroundInsurance

Surround raises $2.5mn in seed funding round led by MassMutual

2022-11-21T22:30:00+00:00

Surround Insurance, an insurtech MGA that offers coverages on Accredited paper, has closed a $2.5mn seed round led by MassMutual through the MM Catalyst Fund.

IM-RPS-TheHartford-CargoPort

RPS partners with The Hartford for new digital cargo product

2022-11-16T22:49:00+00:00

Arthur J Gallagher’s E&S wholesale broker and MGA subsidiary Risk Placement Services (RPS) today has launched a new all-risk cargo product with carrier partner The Hartford.

IM-SuiteLife-PatrickMcCahill

Ryan Specialty’s SuiteLife hires CUO ahead of new product push

2022-11-16T21:29:00+00:00

Ryan Specialty’s SuiteLife has recruited Patrick McCahill to serve as its new chief underwriting officer as the hotels and resorts-focused MGU looks to further broaden its product offerings.

IM-FloodFlash-MarkHara-Flood

FloodFlash hires Bold Penguin’s Hara to lead NA expansion

2022-11-16T19:40:00+00:00

Insurtech MGA FloodFlash has recruited former Bold Penguin and Mylo executive Mark Hara to spearhead its launch into the North American market, with the parametric-focused startup set to launch a new commercial property product in Florida, Virginia, Texas, Louisiana and California.

Michael Lyons and Dima Mnushkin – Swiftly

Swiftly’s small business platform launches with Accelerant E&S BOP policy

2022-11-15T19:15:00+00:00

The Swiftly marketplace technology platform has launched with an E&S businessowners’ policy on Accelerant paper written by Texas-based MGU Volta Underwriters Services, in a move the insurtech says can unlock the potential of so-called “flow business” without disintermediating brokers, The Insurer can reveal.

IM-HUB-SafeHerb-Insured-Cannabis

Hub offers cannabis SafeHerb-underwritten dispensary insurance through digital platform

2022-11-14T19:51:00+00:00

Hub International has launched a cannabis dispensary insurance product through its Insureon digital platform and underwritten by its SafeHerb MGA, available to medical and recreational cannabis dispensaries in every legal market in the US.

IM-Hippo-RickMcCathron-Q3-Results

Hippo retains $4.7mn of $73.1mn Ian loss, Q3 gross loss ratio improves to 128%

2022-11-10T22:16:00+00:00

Hippo has reported an improved gross loss ratio of 110 percent in the third quarter, with the homeowners insurtech revealing its gross Hurricane Ian loss was $73.1mn, with $4.7mn retained.

Anzen

Start-up MGA Anzen gets AmTrust, Greenlight and Everest capacity and completes $10mn seed round

2022-11-10T20:11:00+00:00

Executive liability insurtech MGA start-up Anzen has secured capacity support from AmTrust Financial, Greenlight Re and Everest Re and completed a $10mn seed round which included backing from MS&AD Ventures and Tokio Marine, among others.

IM-Acrisure-Venture-Conifer-SecurityGuard

Acrisure adds to program capabilities with deal for Conifer’s Venture

2022-11-10T20:10:00+00:00

US broker consolidator Acrisure has bolstered its program capabilities after its Whitetail Insurance Services unit completed a $38.2mn deal to acquire certain assets related to Conifer Holdings’ security industry-focused platform Venture Agency Holdings.

IM-Rhino-Ally-ReAlign-Clear-Guy-CentralPark

Rhino charging into 2023 with Ally, ReAlign and Clear Blue on its carrier panel

2022-11-10T04:50:00+00:00

Rhino has finalized its security deposit program carrier panel for next year with Ally Insurance, ReAlign and Clear Blue Insurance Holding among those supporting the insurtech and providing it with combined capacity of over $200mn.

IM-GreatAmerican-Hourly-ChefInKitchen

Hourly to act as MGA in partnership with Great American

2022-11-09T21:06:00+00:00

Workers’ compensation insurtech Hourly.io has announced it will serve as a managing general agent in an expansion of its collaboration with Great American Insurance Group.

IM-RBJ-AmberBrowning-JonathanLucken-MichaelMuglia-TamekaLivatino

RB Jones makes Muglia-led PL move as team transitions from Burns & Wilcox

2022-11-08T23:00:00+00:00

RB Jones’ buildout has continued, with the HW Kaufman Group-owned MGU forming a new professional liability division led by Michael Muglia who has moved over from sister organization Burns & Wilcox along with three of his colleagues.

II-TrevorBaldwin-BRP

BRP’s Baldwin forecasts further MGA of the Future growth after record Q3

2022-11-08T07:14:00+00:00

BRP Group CEO Trevor Baldwin has provided a bullish outlook for the company’s fast-growing MGA of the Future platform as he highlighted a strong pipeline of potential partners to help drive further growth beyond the record revenues it generated in Q3 2022.