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Markets/Coverages: MGA Aurora Launches Lloyd’s-Backed Property Insurance Offering

Insurance Journal

Aurora, the London-based digital managing general agent, has launched a property owners insurance product, aiming to enhance the way brokers access and place property risks. The new product, backed by Lloyd’s, leverages Aurora’s digital insurance platform and real-time data enrichment …

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Business Moves: Specialist Risk Group Acquires Generation Underwriting From WF Risk Group; Ardonagh Acquires Majority Stake in Apex Insurance in Hong Kong

Insurance Journal

Specialist Risk Group Acquires Generation Underwriting From WF Risk Group Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of managing general agent Generation Underwriting, which has offices in Newcastle and Belfast, from WF Risk Group. Financial details …

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UK’s Specialist Risk Group Acquires Specialist Schemes Broker, Brentacre Insurance

Insurance Journal

Specialist Risk Group (SRG), the London-based insurance intermediary, announce the acquisition of Brentacre Insurance, a specialist broker with deep expertise in providing insurance for modified and performance vehicles, subject to regulatory approval. Financial details of the transaction were not disclosed.

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AI and LLMs: A Double-Edged Sword for Insurance Agents and Brokers

Specialty Insurance

While AI and LLMs offer exciting opportunities for innovation in the insurance industry, they also present new challenges for agents and brokers. The use of AI by Insurance Agents/Brokers can have an adverse impact on Insurance Agents E&O loss history.

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How Agents Can Offer Risk Management Solutions That Save Clients Money

American Agents Alliance

Becoming a trusted risk advisor is about more than just delivering quotes and writing policies. Agents can differentiate themselves and add value to their services by helping policyholders proactively manage risk, not just insure it. Even personal lines customers and small businesses can benefit from a risk assessment.

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E&O Risks When Clients Misunderstand Their Coverage Needs

American Agents Alliance

This can create additional E&O risks for agents and brokers, however, when a policyholder misunderstands their coverage needs or policy language. However, when policyholders self-diagnose their own coverage needs, disregarding the advice of their agent, this can become a grey area.

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How to Avoid Coverage Gaps That Can Lead to E&O Claims

American Agents Alliance

This is where agents and brokers play a critical role in helping identify and close potential coverage gaps. How to Avoid Coverage Gaps That Can Lead to E&O Claims When meeting with new clients or existing policyholders at renewal time, be proactive and ask about new risks, exposures, and opportunities.