McGill and Partners collaborated with Renew Risk, a risk analytics SaaS provider for renewable energy assets, to develop catastrophe models for offshore wind portfolios. Robust models will help the market better understand and quantify the risk, determine appropriate reinsurance limits and understand aggregation across multiple windfarms in one region. This will lead to increased insurance capacity available for the benefit of the developer, enabling reinsurers to offer more competitive and sustainable products and reduce their own capital requirements and volatility.

Verisk launched its latest update to the ISO Businessowners program. With more than 300,000 new small businesses created annually over four of the past five years, this update is essential to the industry and marks one of the most significant enhancements to the ISO BOP program.

Assurant, Inc. signed a multi-year contract with Michigan-based Edward Rose & Sons, a privately-held real estate development and management company. Assurant will be the preferred provider of renters insurance, using Assurant’s turnkey point-of-lease product – Cover360. Property management companies and owner/operators have the potential to significantly increase participation in their renters insurance program and eliminate coverage gaps with the implementation of Assurant Cover360.

Coalition partnered with HDI Global Specialty SE, the specialty insurance carrier of HDI Global SE, an A.M. Best A+ rated insurer with over 120 years of experience in offering international insurance. Beginning in 2024, HDI Global Specialty will join Coalition’s Cyber and Technology E&O panel in Canada to provide insurance capacity. The insurer will assume a quota share on all cyber insurance products that Coalition provides in Canada, incepting on or after January 1, 2024.

Coalition announced its executive risks insurance products are now available on surplus lines paper, making comprehensive management liability coverage available to a wider range of businesses. Coalition offers executive risks insurance, including directors & officers liability, employment practices liability, fiduciary liability, and crime insurance. The new surplus product is underwritten by certain underwriters at Lloyd’s.

INSHUR launched its insurance offering for on-demand livery drivers in Arizona, its second state in the U.S. following its success in New York. This news is the latest strategic milestone in INSHUR’s growth story, following the company’s acquired American Business Insurance Services in April. With ABI’s existing footprint and capabilities built over the last 40 years, INSHUR is able to efficiently scale its innovative insurance products for the on-demand economy across the U.S.

Duck Creek Technologies extended support to ecosystem partner Hyland and sponsored its CommunityLIVE user conference, which takes place October 3-5, 2023 in Las Vegas. Duck Creek continues to strengthen its customer focus by partnering with industry leaders, such as Hyland, and fulfilling its commitment to deliver more humanized technology experiences across the Insurance Industry.

Florida Peninsula Insurance Company announced dwelling fire insurance, commonly referred to as a “landlord policy” starting October 2. The dwelling fire policy is designed to provide coverage for homes not eligible for a standard home insurance policy, such as homes rented to others, as well as vacation homes and residential investment properties. Dwelling fire policies are also available to those individuals living in a home which features an older roof or who are looking for basic coverage at an affordable price.

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