农夫导航

Volvo Launches Independent Agency

Auto manufacturer Volvo has launched an independent insurance agency offering not just car insurance for Volvos but also home and umbrella insurance.

The Mahwah, New Jersey-based Volvo Car 农夫导航 Services represents five major carriers: Nationwide, The Hartford, Progressive, Travelers and Liberty Mutual.

Volvo says its independent agents can help customers find the right combination of coverage to protect all their assets.

“This milestone demonstrates Volvo Cars’ expanded commitment to providing customers with a seamless ownership experience by offering tailored coverage, nationwide repair access, and a simplified digital quoting process,” the announcement said.

The agency is live in Arizona, Illinois and Pennsylvania, now with plans to launch in 15 more states soon.

Customers can access insurance directly through the Volvo Cars App or online. Volvo Car 农夫导航 Services said it will continue to expand to additional states. Its initial rollout plan identifies 1t5 additional states.

Arden’s Consolidated Fire 农夫导航 Policy

Brokers in western states take note: there is new help for wildfire risks.

Specialty re/insurer SiriusPoint Ltd. is offering capacity to managing general underwriter Arden 农夫导航 Services LLC for a wildfire exposed risks program that includes embedded parametric coverage. Arden’s new Consolidated Fire 农夫导航 Policy (CFIP) will initially be offered in California with eventual expansion into other wildfire exposed states. The policy offers coverage alongside Arden’s existing all-risk offering.

Arden specializes in coverages for multi-family habitation risks with an in-force portfolio of more than 120,000 buildings insured. This class of business has been particularly affected by the market’s decision to eliminate or severely sub-limit wildfire coverage in all-risk policies in the regions west of the Rockies, where Arden operates.

“The recent Los Angeles wildfires further exacerbated the insurability crisis for properties located in wildfire exposed areas and CFIP provides comprehensive coverage for this underserved market,” said Brian Cohen, Arden 农夫导航 Services CEO and co-founder.

Cohen said brokers in the western U.S. have been asking for a solution to provide peace of mind in a distressed market.

“We’re proud to become a capacity partner to Arden, working together to meet critical market needs with a program that is both creative and impactful,” said Patrick Charles, head of North America 农夫导航 at SiriusPoint.

Charles called Arden’s program strategy “thoughtful” in filling a vital gap in an underserved segment. “This partnership not only supports the insurance ecosystem but also contributes to the broader economic resilience of California,” he said.

Based in California, high-tech enabled Arden currently operates in the 11 states of Arizona, California, Idaho, Illinois, Michigan, Nevada, Ohio, Oregon, Utah, Washington, and Wisconsin with plans to expand into additional states.

Bermuda-based Sirius operates globally and has $2.7 billion total capital.

Andrew Matson, CEO of Augment Risk, which facilitated the capacity deal between SiriusPoint and Arden, said the Consolidated Fire 农夫导航 Program offers an “efficient, streamlined approach to wildfire insurance” and “highlights how innovative capital structuring can accelerate the delivery of new risk transfer solutions.”

Topics Catastrophe Natural Disasters Wildfire New Markets