Chubb is adding more coverage to its Small Commercial Marketplace, in partnership with The Doctors Company. Corvus Insurance, an InsurTech startup focused on the commercial insurance market, has unveiled cover designed to help food and beverage companies reduce losses from perishable goods.
Chubb and The Doctors Company have started offering dental malpractice insurance to dental professionals via Chubb’s Small Commercial Marketplace.
The coverage is specifically designed for general dentists, endodontists, oral and maxillofacial surgeons, orthodontists, periodontists, prosthodontists and other dental specialists. As part of the offering the Doctors Company policy provides dental malpractice coverage that also insures against cyberattacks and data breaches, HIPAA violations, and Dental Board and Medicare/Medicaid reviews, and covers dental hygienists and assistants at no additional charge.
Combined with dental malpractice coverage, Chubb’s small business product offers dental professionals a complete suite of state-of-the art products, including Chubb Business Owner’s Policy (BOP) which contains more than 100 property and liability features and benefits beyond industry standard policies, workers’ compensation, Cyber Enterprise Risk Management, umbrella, and management and professional liability protection.
InsurTech startup Corvus Insurance released new coverage designed to help food and beverage companies reduce the loss of perishable goods.
It will be part of Corvus’s expanding Smart Cargo insurance, whose tools gather data from temperature sensors already used in the shipment of food that is subject to spoilage.
Corvus said it analyzes the data set of millions of shipments across multiple companies to create a temperature stability scoring model. The data from an individual shipper of goods is then compared to the aggregated data model to receive their individual Corvus Cargo Score. This score can be used by commercial insurance brokers and buyers to better predict and prevent loss. And for prospective policyholders that have the best scores, Corvus, in partnership with Argo Group, offers insurance with lower prices and broader coverage.
Corvus uses its innovative technology and digital platform, the CrowBar, to monitor new information from ongoing shipments. If the CrowBar technology spots negative trends or if the temperature stability score changes, the broker and policyholder are informed and provided actionable recommendations.
Corvus is funded by Bain Capital and the startup distributes its Smart Cargo insurance policies on a Managing General Agency basis with partner Argo Group. Policies will be distributed by independent brokerage firms across the United States.
Sources: Chubb, Corvus Insurance