Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
Great American Life unveiled a variable-indexed annuity developed in collaboration with Raymond James called Index Summit 6.
The product has crediting strategies that feature a 50% downside participation rate and current upside participation rates of up to 120% for the first term.
Additionally, the product's crediting strategies offer participation in a variety of market segments with earning potential linked to well-known indexes and exchange-traded funds, including the S&P 500, iShares U.S. Real Estate ETF and iShares MSCI EAFE ETF.
Property and casualty
Hudson Insurance Group Inc. launched a national architects' and engineers' professional liability insurance program that will be available beginning June 1.
Target classes include traditional licensed design professional firms such as architects, engineers and surveyors, as well as ancillary building and construction classes such as property inspection, interior design and land design.
Beazley PLC said its MediaTech policy has been streamlined to provide clear and concise wording and now combines comprehensive errors and omissions and media liability insurance with cyber coverage.
Argo Pro, a member of Argo Group International Holdings Ltd., announced Private Company PROtect, a packaged professional liability product that gives private companies access to a range of coverage, including directors and officers, employment practices and fiduciary liability.
The product allows policyholders to purchase one or more management liability and professional liability coverage options with separate or shared limits. Each policy can be customized to meet specific risk-management needs.