Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
Amalgamated Life Insurance Co. introduced a new voluntary group level term life insurance product available in 10-, 15- or 20-year terms.
Its features include guaranteed issue for individuals up to age 65 with minimum participation based on group size; face amounts ranging from $5,000 to $300,000, but not to exceed five times an individual's annual employment income; and family coverage.
UnitedHealthcare launched a national vision laboratory network in collaboration with Essilor. The expanded laboratory options are now serving UnitedHealthcare's eye care provider network, which includes independent optometrists and ophthalmologists.
Property and casualty
ICICI Lombard General Insurance Co. Ltd. will provide cyber insurance to One Mobikwik Systems Private Ltd.'s mobile wallet users under a strategic partnership, The Hindu Business Line reported.
Berkshire Hathaway Specialty Insurance Co. launched professional first asset management liability insurance in the U.K. and Ireland. The policy provides professional liability, directors and officers liability and crime coverage for investment managers.
Church Mutual Insurance Co. launched its first mobile app, which provides original safety content and a new way to reach its risk control and claims departments.
Nationwide and insurance cloud services platform provider Slice Labs Inc. are developing an insurance service for rideshare drivers that will enable them to purchase on-demand coverage unique to their industry via an app, and at variable increments that align with the time they are driving for their rides-haring platform.
Nationwide plans to launch the service later in 2019.
Kingstone Insurance Co. launched a homeowner product in Connecticut. Kingstone Cos. Inc. anticipates adding Maine and New Hampshire in 2019 and 2020, respectively.
Universal Property & Casualty Insurance Co. has written its first homeowners policy in Illinois.
I-Square Ventures, in collaboration with William R. Carey & Co. and a major insurance carrier, launched bid protest insurance for government contractors.
For one-quarter of 1% of the contract value, the product enables government contractors to mitigate almost all of their risks. Coverage includes legal defense costs, and if the contract award is lost as a result of the bid protest, the insurance policy covers direct and indirect costs and wages per the policy wording.
Accredited Surety and Casualty Co. Inc. will be the issuing carrier on behalf of Pronto General Insurance Agency Ltd. in California for its private passenger automobile business from March 1 under a program underwriting partnership.
Pronto is a specialty managing general agent that provides a variety of coverages to its customers in Texas and California.
Coalition Inc. announced a policy that protects manufacturers from security failures and data breaches.
The policy covers physical, technological and financial damages — including bodily harm, property damage and pollution — that manufacturers may experience as the result of a cyberincident or technology failure.