No other industry has weathered a global pandemic, economic changes, and a decade-long shortage of skilled labor better than the construction industry.
Business Moves
Arch, Coalition
Arch Insurance North America and Coalition have formed a multi-year partnership to provide Coalition with long-term capacity for its U.S. and Canada Cyber and Technology Errors & Omissions insurance programs. The capacity will be available through Arch Insurance North America’s carriers.
The partnership with Arch will support Coalition, a provider of cyber insurance and security tools to help businesses manage and mitigate cyber risk, as it continues to grow. Over the past year, Coalition has grown to more than $150 million of run-rate gross written premium (GWP) and serves more than 41,000 organizations. Coalition uses an analytics-based approach and in-house cybersecurity services in addressing cyber risk.
Applied Underwriters Acquires Oklahoma Property and Casualty Insurance February 16, 2021
Applied Underwriters’ affiliate, North American Casualty Co., has completed its acquisition of Oklahoma City-based Oklahoma Property and Casualty Insurance Co. (OP&C).
Applied Underwriters plans to make various changes with respect to OP&C, as well as the Texas Insurance Co. (TIC), which is also owned by North American Casualty.
The company’s strategic plans call for repurposing TIC to expand its excess and surplus (E&S) capabilities nationally in support of the company’s trucking programs and other divisions now organized under Applied Specialty Underwriters, led by Chris Day, and Applied Financial Lines, led by Steve McGill.
/PRNewswire/ Mr. Steve Menzies, Chairman, Applied Underwriters, today announced that "A" rated North American Casualty Company has completed the acquisition.