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Great American Insurance Group Announces the Formation of a Dedicated Team to Expand its Embedded Insurance Offerings 0

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Great American Insurance Group Announces the Formation of a Dedicated Team to Expand its Embedded Insurance Offerings

Cincinatti, OH (Apr. 24, 2024) – Great American Insurance Group is pleased to announce the formation of a dedicated embedded insurance team. Building upon the company’s 20 years of experience offering embedded insurance products, the new team will streamline and simplify the distribution of these offerings. This newly-formed group, led by Chris Banocy, Divisional Senior Vice President, will assist in finding and evaluating new embedded insurance opportunities for Great American Insurance Group’s specialty property and casualty operations. In addition, the team will develop a suite of custom embedded products, including ticket and travel coverages, which are anticipated to be available in 2024. “Technology has changed the way consumers make purchases, whether in traditional sectors like auto sales and retail, or in digital spaces. Our mission is to make the process of obtaining coverage as convenient as possible by bringing insurance to the point of sale,” said Rich Suter, Divisional Group President. “While Great American has vast experience in the embedded channel, the demand for embedded coverages continues to grow at a rapid pace. The formation of a dedicated team allows us to expand our distribution reach and reinforces Great American’s commitment to this channel.” Great American Insurance Group’s embedded solutions...

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Higginbotham Adds South Florida Benefits Agency to Team

Article 0 Comments Texas-headquartered Higginbotham, one of the largest independent insurance and benefits firms, has added Adams Benefits of Boca Raton, Florida, to its team, the company said in a news release. The move marks an expansion into south Florida for Higginbotham, which already had acquired agencies in central Florida. Adams Benefits has been in operation since 1975, advising south Florida businesses on HR and regulatory compliance. Blair Adams III is president and Meaghan Haines is vice president. Higginbotham, based in Fort Worth, is an employee-owned firm established in 1948. It ranks as the 21st-largest independent brokerages, the firm said. Topics Florida Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter

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US Probes Tesla Recall of 2 Million Vehicles Over Autopilot, Citing Concerns

Article 0 Comments U.S. auto safety regulators said Friday they have opened an investigation into whether Tesla’s recall of more than 2 million vehicles announced in December to install new Autopilot safeguards is adequate. The National Highway Traffic Safety Administration (NHTSA) said it was opening an investigation after the agency identified concerns due to crash events after vehicles had the recall software update installed “and results from preliminary NHTSA tests of remedied vehicles.” The agency’s new probe comes after it closed its nearly three-year investigation into Autopilot, saying it found evidence that “Tesla’s weak driver engagement system was not appropriate for Autopilot’s permissive operating capabilities” that result in a “critical safety gap.” NHTSA also cited Tesla’s statement “that a portion of the remedy both requires the owner to opt in and allows a driver to readily reverse it.” The agency said Tesla has issued software updates to address issues that appear related to its concerns but has not made them “a part of the recall or otherwise determined to remedy a defect that poses an unreasonable safety risk.” Tesla said in December’s its largest-ever recall covering 2.03 million U.S. vehicles—or nearly all of its vehicles on U.S. roads—was to better...

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Missouri House Backs Legal Shield for Weedkiller Maker Facing Cancer Lawsuits

Article 0 Comments JEFFERSON CITY, Mo. (AP) — The manufacturer of a popular weedkiller won support Wednesday from the Missouri House for a proposal that could shield it from costly lawsuits alleging it failed to warn customers its product could cause cancer. The House vote marked an important but incremental victory for chemical giant Bayer, which acquired an avalanche of legal claims involving the weedkiller Roundup when it bought the product’s original St. Louis-area-based producer, Monsanto. The legislation now heads to the Missouri Senate with several weeks remaining in the annual legislative session. Bayer pursued similar legislation this year in Idaho and Iowa, where it has mining and manufacturing facilities, but it fell short in both states. Bayer disputes claims that Roundup’s key ingredient, glyphosate, causes a cancer called non-Hodgkin’s lymphoma. But it has set aside $16 billion and already paid about $10 billion of that amount to resolve some of the tens of thousands of legal claims against it. Though some studies associate glyphosate with cancer, the U.S. Environmental Protection Agency has said it is not likely to be carcinogenic to humans when used as directed. The Missouri legislation says that federally approved pesticide labeling “shall be sufficient to...

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The 3 Stages of Retirement Planning

What You Need to Know Clients fill the nest eggs. Later, they tap the nest eggs. Making the yolk last takes work. If you are very new to financial services, retirement planning may seem like a mysterious snooze-fest. You may be young. Your parents may still be young. You may think of retirement as a matter of turning 65 and suddenly being able to use Social Security to retire to a house in Florida. Bu having a comfortable retirement is harder than it may look, and understanding the three stages of retirement planning is the key to ensuring that your clients sip piña coladas on the beach instead of stressing about their finances. Stage 1: Accumulation. Picture this: You’re fresh out of school, armed with a degree and a mountain of debt. Sound familiar? Well, fear not, because Stage 1 is all about building that retirement nest egg. It’s the time to sock away as much cash as possible while you’re still young and spry. Think of it like planting seeds in a garden: The earlier you start, the more bountiful your harvest will be. So, what’s the game plan? First off, your clients need to get rid of that...

ICEYE and Juniper Re LLC announce multi-year flood and wildfire data collaboration 0

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ICEYE and Juniper Re LLC announce multi-year flood and wildfire data collaboration

ildings and other structures with ICEYE’s unique flood extent and depth analysis to enable rapid, fact-based decision-making Helsinki, Finland (Apr. 25, 2024) – ICEYE, a global leader in satellite-powered disaster management solutions, is pleased to announce a new data collaboration with Juniper Re, LLC, the dynamic reinsurance broking arm and indirect subsidiary of BRP Group, Inc. Juniper Re will leverage ICEYE’s Flood and Wildfire Insights data to support their carrier clients by accessing near real-time observed data on large-scale events to determine the impact within hours and support data-driven decisions. This collaboration forms part of Juniper Re’s investment in innovative solutions to enhance their ability to support clients. Rapid access to ICEYE’s hazard and damage data will enable Juniper Re’s clients to respond to natural disasters accurately and quickly, improving their decision-making, and ultimately transforming their ability to manage the loss. ICEYE operates the world’s largest constellation of synthetic aperture radar (SAR) satellites, offering unrivaled access to actionable Earth observation data. This provides the insurance sector with an entirely new level of persistent monitoring for any location on Earth, delivering uninterrupted visibility, both day and night, in any weather conditions. Adam Miron, Head of Catastrophe Analytics, Juniper Re, commented: “ICEYE’s...

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People Moves: Morisato joins Sentry Board of Directors

Article 0 Comments Susan Morisato Susan Morisato has joined Sentry’s Board of Directors. Sentry is headquartered in Steven’s Point, Wisconsin. Morisato, based in Des Plaines, Illinois, brings over 30 years of health insurance experience to Sentry’s board. She is a former president of insurance solutions at UnitedHealth Care Medicare & Retirement. Morisato also served as chief operating officer of UHC’s Medicare Advantage business. Before UHC, she worked at Bankers Life and Casualty in various management roles. Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No Thanks Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter

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Ultra-Rich Should Pay to Save Social Security: Poll

Benefit programs for elderly Americans are one of voters’ top priorities in November — only the economy, immigration, abortion and protecting democracy were chosen more often when respondents were asked what single issue was most important to their voting decision. The poll also found that swing state voters trust Biden more than Republican presumptive nominee Donald Trump to preserve Social Security and Medicare, with 45% trusting Biden and 39% trusting Trump. Trump has not articulated a clear vision for the benefit programs. His campaign website says he will “always protect” Social Security without providing details. In a March interview, he said “there is a lot you can do in terms of entitlements in terms of cutting,” but later walked back that statement, saying he would never do anything to “jeopardize or hurt” the payments for older people. Republicans in Congress have proposed raising the retirement age and using a new cost of living adjustment metric that would result in lower payments over time. Nikki Haley, who challenged Trump for the GOP presidential nomination, proposed scaling back Social Security benefits for future generations and higher income retirees. Methodology The Bloomberg News/Morning Consult poll surveyed 4,969 registered voters in seven swing states: 801 registered...

WTW’s Engage platform adds generative AI feature to improve the employee experience 0

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WTW’s Engage platform adds generative AI feature to improve the employee experience

Arlington, VA (Apr. 9, 2024) – WTW, a leading global advisory, broking, and solutions company, is pleased to announce the launch of Engage Coach AI, a generative AI assistant that guides effective manager action. The new AI feature of the company’s employee listening platform, Engage, helps leaders and managers improve employee experience and business performance. Engage Coach AI offers advice and insights related to a manager’s survey findings. In addition to AI-generated recommendations, managers can access the platform’s curated library of content from WTW experts, including videos, book summaries, and articles. Engage Coach AI is GDPR compliant and does not share any data for subsequent training or storage. “This is a big step forward in improving the employee experience. By introducing generative AI to our Engage platform,” said Adam Zuckerman, Global Product Leader for Engage. “Managers will have even more options for how to address employee issues raised in surveys – including issues unique to their teams.” WTW’s Engage platform supports organizations with employee listening. It helps employers capture and respond to employee needs, understand variations among workforce segments, make better people decisions, and build more effective HR programs and work experiences. Learn more about Engage. About WTW At WTW...

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Standard Chartered Faces £1.5 Billion UK Claim in Iran Sanction Case

Article 0 Comments Standard Chartered Plc is facing about £1.5 billion ($1.9 billion) worth of investor claims at a London trial over allegations it systematically breached Iranian sanctions to win new business. A London judge ruled on Friday [April 19] that the trial, that will also probe accusations of bribery, should be split into two parts with the first scheduled for October 2026. The bank was sued by hundreds of investors over the claims of widespread misconduct, which has so far cost the bank more than $1.7 billion in penalties. The lender is facing the claim after it told watchdogs that it processed hundreds of millions of dollars in clearing transactions between 2008 and 2014 through its Dubai offices on behalf of Iranian entities. The case over alleged lack of shareholder disclosure is “without merit” and the bank “will continue to vigorously defend the claim,” a spokesperson for the bank said in an emailed statement. “We consider that the bank fully complied with its reporting and disclosure obligations throughout the relevant period.” The ruling follows a decision last year when the court had refused the bank’s request to strike out claims that the alleged sanctions violations and bribery was more...