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Boat Rental Protection, Direct-Action Truck Bills Moving Forward in Georgia Assembly

Article 0 Comments Georgia legislation that could have a significant impact on insurance litigation and losses for transportation-related businesses are moving forward in the state General Assembly. The Georgia House of Representatives late last month approved House Bill 994, which would give some protection to boat-rental businesses, known as liveries, as long as they carry adequate liability insurance. The person operating the vessel would be held liable for injuries and property damage in an accident, the bill notes. “In order to avail itself of the protections provided in subsection (b) of this Code section, a boat livery shall not rent, lease, or charter or offer to rent, lease, or charter a vessel without first obtaining and maintaining in full force and effect a policy from a licensed insurance carrier in this state or a nonadmitted insurer through a licensed surplus lines broker that provides coverage for such boat livery against any accident, loss, injury, property damage, or other casualty caused by or resulting from the operation of a boat livery vessel,” reads the bill, sponsored by Rep. Alan Powell. The livery must maintain coverage of at least $250,000 per person and $500,000 per occurrence, and display proof of insurance on...

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Vanguard CEO to Step Down by Year-End

Vanguard says Chairman and CEO Tim Buckley will retire by the end of this year after more than three decades with the asset manager. Also, Chief Investment Officer Greg Davis has been appointed to the additional role of president, effective immediately. Vanguard’s board has started the search process for a new CEO and will reviewing “both internal and external candidates,” the firm said late Thursday. “In my seventh year as CEO, we have scaled our mission … and our team is just getting started,” according to Buckley. “I have been passionate about developing the next generation of leaders, and I look forward to those leaders elevating Vanguard to new heights.” Buckley joined Vanguard in 1991 as founder John Bogle’s research assistant. He became part of the firm’s senior leadership team in 2001 as head of its Information Technology division, later led the Personal Investor unit and served as chief investment officer. He was named CEO in 2018 and appointed chairman in 2019. During Buckley’s tenure, Vanguard says, the firm grew its client base by tens of millions to over 50 million investors worldwide, while its assets under management jumped 80%-plus to $9 trillion.

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People Moves: Braverman and Bill join Lockton Lawyers Professional Liability Practice

Article 0 Comments Lockton, headquartered in the Kansas City metropolitan area, named Eric Braverman and Eric Bill to its lawyers professional liability practice. Both are based in Chicago. Braverman joins as senior vice president, professional services practice leader. He brings 20 years of experience to Lockton, most recently serving as a managing director at Aon. Bill joins as a senior account executive. He joins Lockton from Aspen Insurance Group, where he was assistant vice president. He was previously a senior vice president and executive director at Aon. 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. Interested in Professional Liability? Get automatic alerts for this topic.

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Ohio on Tornado Watch After Storms Sweep Midwest: Weather Watch

Article 0 Comments Eleven tornadoes were reported across the Midwest, with five coming in Illinois, four in Ohio and two in Michigan, the US Storm Prediction Center said as of 7 a.m. New York time. In addition, there were 36 instances of high winds and 67 hail reports. The dangerous weather has shifted south and east with tornado watches posted from northern Tennessee to southeastern Ohio and West Virginia, the National Weather Service said. Chicago and the Midwest also had a wild shift in temperatures. Tuesday’s high at Chicago O’Hare International Airport was 74F (23C). At 6 a.m. local time it was 28F and the overnight low is forecast to fall to 20F. Readings will rebound through the rest of the week eventually reaching into the 60sF this weekend. Meanwhile, an atmospheric river will strike the Pacific Northwest spreading rain and snow south into California over the weekend. A blizzard warning is in effect across the Sierra Nevada from 4 a.m. local time Thursday through 10 a.m. Saturday, the weather service said. In Texas, a surface high pressure system moving across Nebraska will shift the winds fanning wildfires across the panhandle. Fire fighters in the area will likely get some...

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First Advyzon Conference Highlights Tech Updates and More

What You Need to Know On stage, Advyzon and some partner firms announced platform upgrades, integrations and related news. GMO’s Nebo Wealth will work with Advyzon Investment Management’s turnkey asset management offering. After 10 years in the wealthtech space, platform provider Advyzon just staged its first conference. The event, which took place last week in Phoenix, drew a sell-out crowd of 400-plus guests to its technology demonstrations, integration discussions and networking sessions. Advyzon’s “all-in-one” platform is now used by over 1,500 advisory firms, who — along with their custodial integration partners — are using its technology to drive efficiency, productivity and growth. Started by the creators of Morningstar Office, Advyzon seems to be a shining star in today’s technology landscape, as some larger rivals have gone on acquisition sprees and now need to reconcile their resulting debt, manage layoffs, deal with executive departures and tighten their belts. This gives firms like Advyzon a rare opportunity to expand their business and move up market. At the recent conference, Advyzon announced the launch of Advyzon 3.0, a platform upgrade that promises added functionality, artificial intelligence, advanced automation and new mobile capabilities. Because Advyzon is built on a single source code, its end-to-end features (such as CRM,...

Coalition is Now Offering Premium Credits to MDR Customers 0

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Coalition is Now Offering Premium Credits to MDR Customers

By John Roberts, General Manager, Security, Coalition Inc. — Small businesses are at a significant disadvantage when it comes to protecting against cyber risk. They often lack the necessary resources — time, money, expertise, and technology — to continuously shield themselves from the increasing risk of cyber attacks. Such a lopsided battle has prompted cyber insurance providers to embrace a security control that addresses these issues head-on: Managed Detection and Response (MDR). MDR combines the alerting and identification capabilities of endpoint detection and response (EDR) or extended detection and response (XDR) technology with human cybersecurity experts who can respond to events in real-time. Businesses with MDR in place have a 50% faster median time to respond (MTTR), which dramatically minimizes the impact of a cyber incident. But now, we’re taking it a step further. After offering MDR as a service for nearly a year, Coalition is so confident in the risk-reducing benefits of MDR that we’ve decided to put our money where our mouth is: Today, we are announcing that businesses that use Coalition MDR are eligible for up to 12.5% premium credit on cyber insurance policies provided by Coalition. Driving adoption of high-quality security controls Staying one step ahead of threat actors is a...

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Orion Expands Access to DPL’s Commission-Free Annuity Marketplace

As Lau stressed, Orion’s advisors will gain access to a comprehensive lineup of commission-free annuities and “best-in-class” life, disability and long-term care products. Orion advisors will additionally have direct, integrated access to DPL’s proprietary tools for discovering and comparing annuities by type, benefits and costs. Finally, data feeds from DPL into the Orion Advisor Technology platform enable management of annuity assets alongside other investments in the client’s portfolio. A Big Milestone for DPL Reflecting on the progress his firm has made over the past five years since its founding, Lau said he was gratified to see the platform cross $1 billion in total annuity sales last year, while the combined assets under management of advisors on the platform has crossed $1 trillion. He said he always expected to hit these levels, but not necessarily this quickly. “Those were both really cool milestones to be able to pass in 2023,” Lau said. “As it related to working with Orion, the main reasons advisors have shied away from using annuities on a fee basis in the past have been structural. The right product formats didn’t exist and the tech didn’t exist — or the tech didn’t work on their systems or desktops....

Blink Parametric enters agreement with Buckler México for rollout of Cyber Solution to Ethics Data Analytics 0

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Blink Parametric enters agreement with Buckler México for rollout of Cyber Solution to Ethics Data Analytics

Blink Cyber Security Solution to combat Online Identity Theft Product set to expand Ethics Cyber Security product suite serving Corporates and CXO level client base Cork, Ireland (Feb. 27, 2024) – Blink Parametric has partnered with cyber risk specialist Buckler México to support the rollout of its Blink Cyber solution to Ethics Data Analytics, a leader in risk management solutions in the region. Now available within the Ethics Cyber Security portfolio, the product serves as a Data Protection solution by detecting a data breach or compromised information early and proactively alerting clients with information they need to secure their online data ahead of it being used by fraudsters or hackers. Created to enable insurance companies to offer policy-holders an add-on security feature, the Blink Parametric Cyber Solution has developed into an embedded, standalone InsurTech and Cyber product where clients can add personal information such as phone numbers, email addresses, identity numbers, documents, bank/credit card details and account numbers into its secure monitoring service. It then searches 24/7 for compromised personal data on unsecure websites as well as the dark web, alerting agencies, insurance companies or clients if the data is found to be for sale and/or in use by cyber...

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People Moves: Markel’s Colosimo Joins CRC; Risk Strategies Consulting Names Piltch

Article 0 Comments Vince Colosimo CRC Group, headquartered in Birmingham, Alabama, hired Vince Colosimo as executive vice president in the company’s New York City downtown office. Colosimo will assume the role of office president in mid-2025, with current Office President Fred Curatolo taking on a newly created role as office chairman. Before joining CRC Group, Colosimo most recently served as executive vice president at Markel; prior to that role, he served as managing director – construction practice leader. He also previously served as assistant vice president, underwriting, at Argonaut Group and in underwriting at AIG. Risk Strategies Appoints Piltch President of Consulting Risk Strategies, headquartered in Boston, named Stuart Piltch president of its Risk Strategies Consulting business segment. A 35-year consulting industry veteran, Piltch joined Risk Strategies through the 2021 acquisition of Cambridge Advisory Group, a pharmacy, actuarial and benefits consulting firm founded by Piltch in 1999. In his new role, Piltch will be responsible for the Risk Strategies Consulting business segment, including growth, strategic direction and client satisfaction. Risk Strategies is a privately held brokerage firm offering risk management advice, insurance and reinsurance placement for commercial companies, nonprofits, public entities, and individuals from more than 100 offices. Was this...

Canadians warm up to their insurance providers, but across the industry, challenges remain 0

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Canadians warm up to their insurance providers, but across the industry, challenges remain

Ipsos releases new insights from its twelfth CSI Insurance tracker, providing a comprehensive analysis of the Canadian insurance market Toronto, ON (Feb. 20, 2024) – The Canadian insurance industry underwent a substantial shift in its performance in 2023. Despite some regional variations, the overall sentiment of the industry reflected a significant improvement, with the likelihood to recommend scores climbing from -12 in 2022 to -8 by the end of the year. This marked upswing signals a tangible advancement in customer sentiment across the broader Canadian insurance landscape. Diving into the regional specifics, distinct differences emerge. Customers in Quebec continue to show their satisfaction with their insurance experience, making it the only region with a positive Net Promoter Score (NPS). On the contrary, British Columbia recorded a notably negative NPS, with customers there being least likely to recommend their insurance provider. Meanwhile, Ontario remained stable year over year, maintaining a negative NPS score. A closer look at the brands reveals some interesting insights. The Canadian Automobile Association (CAA) emerged as a beacon of excellence amid this vibrant tableau, boasting the highest NPS and being one of just five providers ending the year on a positive note. The year 2023 was a...