Several insurance companies disclosed new products and coverage enhancements in recent days.
Life and health
Stockholm-based microinsurer Milvik AB, which does business as BIMA, signed a memorandum of understanding with Cambodia-based cashless payment platform Pi Pay to offer its insurance products to underserved customers in Cambodia. Customers will be able to pay for BIMA's products using the Pi Pay app.
Voya Financial Inc. is offering an integrated benefits administration experience to the national accounts clients of Automatic Data Processing Inc.
The agreement will allow employers who use certain ADP platforms to administer Voya Employee Benefits' group term life insurance, disability income insurance and supplemental health insurance, including accident, critical illness/specified disease and hospital confinement indemnity coverage.
Voya Financial subsidiaries ReliaStar Life Insurance Co. and ReliaStar Life Insurance Co. of New York will issue and underwrite insurance under the agreement.
UAB Health System and UnitedHealth Group Inc. reached a tentative agreement that allows United Healthcare policyholders continued access to UAB medical providers and facilities without disruption of services. Upon the finalization of the agreement, the health insurance contract will be effective for two years.
Anthem Blue Cross Blue Shield and Renown Health reached an agreement that will provide Anthem members continued in-network access to Renown Health's hospitals and physicians.
The agreement also includes members enrolled in Anthem's employer-based health maintenance organization and preferred provider organization plans.
Anthem Blue Cross Blue Shield is the trade name of Rocky Mountain Hospital and Medical Service Inc.
Property and casualty
Crédit Agricole Assicurazioni SpA expanded its multirisk home policy Protezione Casa Più with an optional package of accessory coverings such as Casa+, an electronic home monitoring device, and a pet guarantee for veterinary expenses and telephone assistance. The expanded policy also includes catastrophic events coverage against natural disasters like earthquakes and floods.
Protezione Guida, its civil liability car insurance, was also expanded to include a black box device and an app that offers automatic assistance in case of accidents, geo-localization services in case of theft, and discounts based on how policyholders drive.
The company also expanded its accident policy Protezione infortuni with specialized assistance services coverage for customers aged 65 to 80, including the ability to get doctors or medication directly at home, receive groceries, get a caregiver, telemedicine and nursing care through a call center.
Chubb Ltd. launched an instant shipment insurance policy that covers commercial containerized cargo, household goods, parcel freight and specialty items, including works of art.
The product will be offered on the Networked Trade Platform through its value-added service listing.
Chubb also unveiled Pro ERM, an expansion of its comprehensive Cyber ERM product that combines miscellaneous professional liability, media liability, cyber liability and first-party cyber coverages with its cyber loss mitigation and incident response services.
Sompo International Holdings Ltd. partnered up with Bermuda-based VGM Insurance & Finance Solutions to offer its insurance products to golf course and country clubs, including property, primary casualty, lead umbrella, auto, workers' compensation and environmental coverage.
VGM will also offer its specialized risk services to golf facilities, including public, private and semi-private golf course and country clubs, daily fee courses and golf management companies.
Sompo International companies are wholly owned subsidiaries of Sompo Holdings Inc. VGM Insurance & Finance Solutions is part of VGM Group Inc.
MGAguard launched RBTguard, a program that offers admitted insurance products for the hospitality industry, specifically for restaurants, bars and taverns.
The program will include property, business interruption, liquor liability, general liability, cyber liability and employment practices liability coverage.
MGAguard is a technology-enabled platform for specialty insurance underwriting that is funded by Cerberus Capital Management LP and its affiliates and funds managed by TCW Asset Management Co. LLC.
Norman-Spencer Agency Inc. is offering home buyers expense coverage due to closing delays through the Insure My Closing program.
Under the program, home buyers will receive reimbursement for lodging, storage, meals and pet boarding expenses resulting from delayed real estate closings. The program will be exclusively offered in 28 states, with potential expansion into all 50 states in early 2020.
Starr Wright Insurance Agency Inc. expanded Star Insurance Cos.' defense base act insurance coverage for small federal government contractors.
Coverage can be directly purchased through its website and includes statutory federal workers' compensation and employers' liability insurance for contractors working abroad. The company also offers foreign voluntary workers' compensation, accident and health and kidnap, ransom and extortion coverage.
Starr Wright Insurance Agency Inc. is a division of Starr Insurance Cos., which is a marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr Insurance Holdings Inc.
Willis Towers Watson PLC launched a drone disruption action plan that provides risk mitigation strategies for drone sightings. The plan is a response to the growing concern in the airport risk community about the use of drones to disrupt and interfere with airport safety.
Sri Lanka Insurance Corp. Ltd. expanded its Sri Lanka Insurance Motor Plus program, offering additional benefits including settlement of insurance claims without repair bills and salvage for claims below 500,000 rupees, Sunday Observer reported.
For claims below 75,000 rupees, the company offers settlement within three working hours, without repair estimates, repair bills and salvage and after repair inspection.
Sri Lanka Insurance also added personal accident coverage worth 1 million rupees at no additional cost, protecting against accidental death and total permanent disability for private cars, double cabs and private dual-purpose vehicles.