Several insurance companies disclosed new products and coverage enhancements in recent days.
Security Benefit Life Insurance Co. introduced Select Benefit Annuity, a single premium fixed index annuity. The product features an optional accelerated income rider that gives contractholders the ability to accelerate the amount of income taken in the first 10 years and an optional legacy preservation rider that allows clients to transfer wealth to beneficiaries.
Health system WellStar Health System and Blue Cross Blue Shield of Georgia inked an agreement related to the federal insurance exchange. Under the agreement, Wellstar hospitals and employed providers of WellStar Medical Group can participate in all Blue Cross and Blue Shield of Georgia federal health insurance exchange products.
Global Atlantic Financial Group Ltd. launched ForeCertain, a single premium income annuity issued by Forethought Life Insurance Co. ForeCertain allows customers to convert their retirement savings into another source of income.
XL Catlin chose specialist risk and business intelligence consultancy S-RM to serve as its provider for delivering kidnap response services to its kidnap and ransom policyholders around the world.
XL Catlin is the global brand used by XL Group Ltd insurance and reinsurance companies.
XL Catlin added a cyber solution to its casualty insurance offering in Spain, Switzerland, Germany and the Nordic regions. The solution covers both first-party losses and third-party liabilities stemming from a cyber incident. Covered risks include those that are related with data management, data safety and impacts of a network breach.
Ironshore Inc. formed a manufacturing industry practice group, which will underwrite coverages for traditional manufacturing. The group's focus will be on sectors involving risks such as artificial intelligence, robotics and digital manufacturing tool. Toby Smith was appointed global manufacturing practice leader on top of his current role as executive vice president of Ironshore Environmental.