Claims Business: Alacrity, Colonial Claims and EigenRisk

February 9, 2021
Alacrity Buys Fourseventy Claim Management

Alacrity Solutions Group, a claims management provider based in Fishers, Ind., has acquired Fourseventy Claim Management.

Fourseventy, based in Waco, Texas has a has a nationwide network of field and desk adjusters that serve residential and commercial property, casualty and liability insurers, Alacrity said in a press release. The company also has a third-party administration program.

Fourseventy founder and Chief Executive Officer Matt D. Fatheree and Executive Vice President Rob Beller and other employees will remain on after the sale, Alacrity said.

The acquisition is Alacrity’s ninth acquisition since 2015. Terms of the transaction were not disclosed.

Waller Helms Advisors, LLC served as financial advisor to Fourseventy Claims.

Colonial Claims Expands Into Fla.

Colonial Claims, an independent claims service provider based in Lexington, Ky., announced that has expanded into Florida with the purchase of Premier Adjusting and Catastrophe Services.

The acquisition strengthens Colonial’s daily claims business and introduces appraisal and third-party administrator services, the company said in a press release. Colonial’s training and certification programs will be bolstered by Premier’s track record in recruiting and developing adjusters, the company said.

Premier’s team – including O’Brien and Auger – and contract desk adjusters will serve their customers out of the Oldsmar, Fla. office.

Colonial was founded in 1982 and now has 10,000 adjusters have handled more than $40 billion in damages from catastrophe and daily claim, the company said.

EigenRisk Adds Global Violence Alerts

EigenRisk has contracted with the Armed Conflict Location & Event Data Project to make global political violence alerts available through is EigenPrism catastrophe risk management platform.

“There’s no question the global pandemic, its human toll and widespread economic consequences are fueling greater civil unrest in many areas of the world,” stated EigenRisk President Deepak Badoni in a press release. “Besides monitoring their exposures to natural disasters, risk managers, supply chain executives, insurers and reinsurers increasingly realize they must be vigilant about higher levels of political risk anywhere in the world.”

The alerts, generated weekly on EigenPrism, cover a wide range of reported incidents of political violence and protests in all areas of the world, including Africa, the Middle East, Latin America, the Caribbean, East Asia, South Asia, Southeast Asia, Central Asia, the Caucasus, Europe, and the U.S. Events reported include battles, explosions, incidents of remote violence, as well as violence against civilians, riots, protests and non-violent strategic developments, the company said.

EigenPrism subscribers opting for ACLED’s data sets can be notified automatically when any of their assets, insured properties, operations or trading partners is located within a defined proximity of a reported event. Individual users can customize the alerts according to a variety of factors, such as timing, proximity zone, fatalities, event type or impacted values. Each alert includes the information source, actors, location, severity (such as fatalities), and other relevant information.

EigenRisk is providing complimentary access to these new alerts through March 15, 2021 to all subscribers using the EigenPrism platform.

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