View this article online: https://www.claimsjournal.com/news/national/2016/05/05/270540.htm

Business News

GEICO Continues New York Expansion, Plans on Hiring 100 New Associates

GEICO is looking for talented professionals to join its Buffalo, N.Y., team. As its policyholder base continues to grow, GEICO plans to hire more than 100 associates for additional positions in claims, sales and service. One of the company’s accelerated leadership programs – the Management Development Program (MDP) – is also recruiting recent college graduates.

The regional office is already home to more than 2,700 associates.

Qualified candidates who have excellent customer service, time management and decision-making skills, a strong attention to detail and are comfortable working in a fast-paced environment are encouraged to apply.

HSB Offers Identity Theft Insurance Through Employers

The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, is extending the availability of its identity theft insurance and services to the employees of small to mid-sized businesses as a standalone policy for employers, the company said today.

HSB Identity Recovery insurance has expense coverage and personal case management services similar to those HSB has provided through client insurance companies, agents and brokers for almost a decade, insuring more than seven million people against identity theft and fraud.

The coverage pays for expenses and services to help victims restore their name and credit to pre-theft status when their personal information is lost or stolen. It is available through agents and brokers to employers who can provide the identity theft coverage to employees.

In addition to paying expenses such as lost wages, child and elder care, the cost of credit reports, postage, shipping and fees, HSB Identity Recovery coverage can pay for legal fees involving civil or criminal complaints and mental health counseling related to the identity theft (in most states).

Identity theft services include a toll-free help line, access to a professional identity restoration firm which will work with the victim through the entire process, case management performed by licensed investigators, and an option to use a limited power of attorney.

CNA Unveils New Commercial Umbrella & Excess Liability Forms

Illinois-based insurer CNA announced significant improvements to Umbrella & Excess policy forms. The new, modernized product is available on a monoline basis, and also as part of CNA Paramount, the industry-leading Property and General Liability package policy.

The new forms include:

• Commercial Umbrella & Excess form (A/B) to facilitate contract certainty and eliminate potential gaps created by variations in underlying terms and conditions.
• Follow Form Excess policy, allowing for enhanced follow form capabilities, helping to facilitate the contract certainty and align coverages within the tower.

The A/B form was built to follow and fit CNA Paramount®, the package policy designed for mid-sized businesses. CNA can provide a seamless approach to coverage consistency by offering umbrella coverage aligned with the package policy.

Key coverages include:

• Primary Non Contributory where required by contract and provided by the underlying policy;
• Crisis Management, with notice within 72 hours as opposed to 24 like other carriers;
• Broadened Key Employee Replacement coverages, including permanent disability and PR expenses related to the death or permanent disability of a key employee;
• Most Favorable Venue;
• Firm Duty to Defend;
• Per Project/Per Location Aggregate (follows the underlying policy);
• Waiver of Rights of Recovery (Waiver of Subrogation).

CSC Completes Acquisition of Xchanging

CSC, a next-generation technology solutions and services provider announced the completion of its Xchanging, a global core providers of insurance technology and services.

Xchanging provides tech-enabled solutions to organizations in global insurance and financial services, healthcare, manufacturing, real estate and the public sector.

The acquisition brings to CSC:

• Insurance software, Xuber, which has served the global complex commercial insurance market for over 40 years;
• Deep domain expertise and leadership within the London insurance market, where Xchanging has been recognized as the number one provider of services and technology since 2001;
• A top position providing property/casualty insurance and wealth management business processing services.

The combination of CSC and Xchanging is the culmination of a due diligence process that began in November 2015.