Business News: JLT Specialty USA, Betterview, The Institutes, CapSpecialty

JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc., a global specialist risk advisor and broker, announced the company has chosen Chicago as its U.S. headquarters.

The Chicago office is located at 225 West Wacker on the 5th Floor and is occupied by several JLT executives and approximately 60 specialists across key product and industries.

The company plans to double the size of its workforce in Chicago over the next few years.

InsurTech Drone Startup Betterview Forms Strategic Partnership with Munich Re

Betterview, a drone inspection service for residential and commercial properties, announced an agreement with Munich Reinsurance America, Inc. to offer drone imagery, analysis and reporting to Munich Re’s insurance company clients. As part of the agreement, Munich Re will refer insurance company clients that can benefit from the building/property data, analysis and insights that Betterview offers; interested insurance companies would be able to purchase the services for a fee.

Betterview also offers cloud-based software to organize, store and analyze the captured images to support an insurance company’s underwriting inspection, loss control and claims adjustment processes.

The Institutes Announce Strategic Alliance With Insurance Thought Leadership and Innovator’s Edge

The Institutes, an education and research provider for the risk management and property/casualty insurance industry, announced a strategic investment in and alliance with Insurance Thought Leadership (ITL), a global thought leadership platform focused on insurance innovation and emerging technology.

The collaboration will expand distribution of The Institutes’ thought leadership articles, multimedia, educational tools, learning experiences and strategic coaching solutions on both InsuranceThoughtLeadership.com and ITL’s membership-based platform, InnovatorsEdge.io. The relationship will support both organization’s efforts to raise the profile of the technology and innovation drivers that are transforming the insurance and risk management industry.

CapSpecialty Acquires Renewal Rights to Rockhill Insurance Group’s Environmental Business

Capitol Indemnity Corporation, a wholly-owned subsidiary of CapSpecialty, Inc., announced that it has acquired the renewal rights to Rockhill Insurance Group’s environmental book of business.

CapSpecialty is an indirect wholly-owned subsidiary of Alleghany Corporation and Rockhill is a member of the State Auto Insurance Group.

CapSpecialty, through its specialty carrier, Capitol Specialty Insurance Corporation, will begin quoting all new business submissions made to Rockhill as well as renewals sometime in the first quarter of 2018.

Financial terms of the transaction were not disclosed. Keefe, Bruyette & Woods, Inc., a Stifel Company, served as financial advisor to State Auto in the transaction.