Business News: XL Catlin, NCCI, Access Insurance, Starr Companies

March 27, 2018

XL Catlin Offers Online Notification Option for Marine Claims in North America

To help clients quickly and easily submit notification of their Marine insurance claims, XL Catlin has adopted an online claims reporting tool in the North America.

Powered by RightIndem, XL Catlin’s new marine loss reporting tool streamlines the whole notification of loss process, letting clients immediately share details and visual information about an incident to start the claims management process.

XL Catlin’s Global Marine business provides insurance for clients with special coverage needs for their marine exposures, including Inland Marine, Ocean Cargo, Blue and Brown Water Hull, P&I, as well as Excess and Primary Marine Liabilities. XL Catlin provides marine insurance to cover vessels, ports and ship repair yards throughout the world. Risks are written on both a primary and an excess of loss basis.

NCCI Enhances Workers’ Comp Tool

The National Council on Compensation Insurance (NCCI), announced its newest enhancements to WorkComp Workstation (WCWS),an up-to-date aggregated information tool. Available to affiliates, WCWS’s new, flexible features broaden options for analyzing company results against industry trends.

Analysis is tailored by role:

  • Underwriters: Class-specific and industry-level comparisons
  • Product Managers: Forecasting and trending, state-by-state analysis
  • Actuaries: Loss development, reserving, and pricing
  • Claims: Analyzing claim costs by geography, type, and other factors
  • Loss Control:Frequency and severity analysis by industry, nature of injury

Access Insurance Company in Liquidation

Access Insurance has been placed into liquidation. The company was ruled insolvent on March 13. All Access Insurance policies will be terminated by April 12, 2018 unless they expire beforehand.

Founded in 1994, Access Insurance was licensed in 22 states, including Alabama. The company sold “specialty” property and casualty automobile insurance through independent agents.

Access Insurance customers will need to find replacement coverage with a new insurance company.

Claims on Alabama policies will be paid by the Alabama Insurance Guaranty Association. Guaranty funds are active in every state and pay claims when insurance companies become insolvent.

Starr Companies Announces Agreement With SkyWatch for Aviation Insureds

Starr Companies announced an agreement with SkyWatch, a data analysis, risk assessment, and active risk-reduction platform for the drone industry. The agreement will offer qualified unmanned aerial vehicle (UAV) operators the ability to secure insurance “on demand” for each flight. Insurance costs can be reduced with telematics over time, allowing UAV operators to put safety in alignment with their operational needs.

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