The number of consumers seeking commercial insurance quotes in the European marketplace seems to be steadily increasing, and the fleet auto insurance sector is aimed toward a worth of over €18 billion in four years. Finaccord has released the results of its research which has indicated that fleet insurance is now one of the major sectors of the European insurance market, just like property insurance. Regardless of the narrow levels of growth between the years 2007 and 2011, the data produced by the research from Finaccord has indicated that there…
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Modern-day pirates find a formidable enemy in the British insurance industry
Piracy, a practice once thought long-dead is, in fact, alive and well today. Ongoing economic trauma has produced desperation in a number of nations throughout the world. People displaced by financial calamity have been flocking to the African country of Somalia, where they have been joining pirate bands. Somalia is an infamously unstable state which has served as a port of home for modern-day pirates that prey on shipments throughout the Indian Ocean. Pirates have, of course, run afoul of man law enforcement and military organizations, but their greatest enemy…
Read MoreCover-All Technologies receives high praise for its My Insurance Center NexGen solution
Top comprehensive technology solutions provider for property and casualty insurers, Cover-All Technologies Inc., has announced the positive review it received in a report released by Celent, an independent analyst firm. The Celent report, called “Policy Administration System Vendors North American Commercial P/C Insurance 2011” examined the My Insurance Center (MIC) NexGen solution and referred to it as one of the most configurable and advanced systems that is currently offered to the industry. The ABCD Vendor View from Celent is a structure for evaluating solutions that offers vendors a perspective of…
Read More“SLICE” Pizza parlor insurance now available to restaurant owners
There is a growing trend of specialized insurance and it has now added another branch to its offerings, with a new type of policy – which has been called SLICE – that has been created to provide coverage to pizza parlor owners. The EPIC Programs Group, an insurance brokerage based in California, has announced that the “Safety, Loss, Control, Insurance, Coverage, Expertise” program they offer will now be speaking specifically to the liabilities faced by the owners of pizza parlors who have drivers that make deliveries. The program is already…
Read MoreEco-friendly construction increases professional liability risks
Insurers and risk managers are facing all new challenges in developing coverage for errors and omissions (E&O) for eco-friendly construction projects, which are similar, but still quite different from the risks associated with typical construction projects. This has lead to new trends and developments which are affecting purchasers for specialty lines of insurance such as E&O, directors and officers (D&O), cyber risk, employment practices liability, transportation, marine, and surplus. The reason for the difference between “green” and standard construction project risks is in the materials and technologies that are used,…
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