Around the P&C insurance industry: June 15, 2022

News from Beazley, Tokio Marine Kiln, JAB Holding Company and more. (Photo: Shutterstock)

Arana Insurance Solutions in partnership with Valley Insurance Agencies Alliance, a cohesive family of nearly 150 independent insurance agencies in Missouri and Illinois. Arana Insurance Solutions was created by owner Benjamin Arana, who has 19 years of insurance experience. The full-service agency is located at 17664 Arbors of Rockwood in Eureka, Missouri. Arana Insurance Solutions specializes in personal and commercial insurance, as well as property and casualty insurance.

Beazley spear CryptoGuard, a new directors and officers liability insurance product specifically designed for crypto companies – the first of its kind in the London and US markets. The cover is designed to address the risks faced by all types of businesses operating in this developing sector at all stages of their life cycle; from emerging start-ups, high-growth companies and established private and public organizations.

First indemnity, a specialty insurance agency dedicated to professional liability products for lawyers and law firms, has moved its headquarters to the company’s 23,222 square foot offices at One Beacon Street in Boston. The company was previously headquartered in Lynn, Massachusetts.

Tokio marine oven announced that a definitive agreement has been signed with Intact Insurance Group USA LLC for the sale of the American construction division of Tokio Marine Highland (TMH). The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2022.

Oakbridge LLC Insurance Agency in partnership with Brock Insurance Agency, an independent agency with offices in Rossville, GA, Chattanooga, TN and Savannah, GA. The partnership creates Oakbridge’s first presence in Tennessee and supports the agency’s continued expansion in the Southeast.

JAB-Holding and Fairfax Financial Holdings Limited announced a transformational strategic partnership, in which JAB’s pet insurance business has agreed to acquire all of Fairfax’s interests in Crum & Forster Pet Insurance Group™ and Pethealth Inc., including all of their global operations . As part of the transaction, Fairfax will also invest $200 million in JCP V, JAB’s latest consumer fund.

Synatic announced that he has become a member of OK, the global insurance standards body, and a licensed integrator partner of ACORD Solutions Group. Membership in ACORD will ensure that Synatic’s powerful data platform is fully compliant with insurance industry data standards. Synatic can now handle automated, digital extraction and filling of data into ACORD forms, as well as conversion to AL3 email format. Not only can the platform manage these data structures, but it can also integrate this data with multiple destination systems such as policy management solutions, agency management solutions, and CRMs.

CSAA Insurance Group launched CSAA Specialized Services, which offers claims handling, training and call center support. What began as an idea from an employee innovation challenge has blossomed into a new company firmly rooted in the AAA insurer’s legacy of community service and deep expertise in customer support.

MarshBerry announced the regional winners of its prestigious MAX Performer Awards, a mark of distinction given to independent agencies with strong finances, operational excellence and who deliver world-class customer service. Regional winners were announced at Connect Summer Summit 2022 in Sea Island, Georgia (June 20-22). The National MAX Performer Award will be announced at the upcoming Fall Connect Summit in San Antonio, TX.

gigaforce launched a new complaints intake bot, Gigabot, which brings the company’s customers significantly closer to a contactless complaints experience.

The Coalition Against Insurance Fraud launched the first-ever study conducted on the ethical use of data for anti-fraud purposes. Unlike previous studies, the Data Ethics study is an open study for US consumers, insurance professionals, state and federal regulators, and elected federal and state legislators.

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