Pathpoint, the insurance industry’s first self-service E&S technology platform, announced the release of its new restaurants offering, giving agents the opportunity to access comprehensive, non-admitted coverage for restaurant owners.
Pathpoint’s restaurants product covers any restaurants operated by concessionaries, including BYOB establishments, restaurants that don’t serve alcoholic beverages, and those with alcohol sales of less than 75% of total sales. Appetite includes general liability from $500,000 – $2 million and property TIV up to $2.5 million.
Like all Pathpoint offerings, the restaurants product is delivered through Pathpoint’s online platform, with Pathpoint serving as the surplus lines agent and handling all servicing and compliance on the back-end. Pathpoint’s restaurants offering launches in all U.S. states except D.C.
Pathpoint Inc. is a self-service E&S platform for the insurance industry, giving retail insurance agents bindable quotes from multiple carriers instantly for contractors, vacants, lessor’s risk only, restaurants, and cyber products. Pathpoint is licensed in all 50 states and a coverholder at Lloyd’s of London.
Brit Ltd announced the launch of its direct pay solution in the U.S. In partnership with Visa and Mastercard, Direct Pay offers end customers the ability to receive claims payments securely and instantly to their bank card.
Direct Pay provides claimants the option of self-directing their payment through a custom app directly to their Visa or Mastercard bank card so that their insurance claim payment can be transferred within hours or sooner.
The launch of Direct Pay in the U.S. follows from its launch in the U.K. in 2020.
Brit is a global specialty insurer and reinsurer, focused on underwriting complex risks. It underwrites a broad class of commercial specialty insurance with a strong focus on property, casualty, and energy business and is a subsidiary of Fairfax Financial Holdings Limited.
Specialist underwriter Attento announced the launch of a new inflation endorsement product that protects the value of insured vehicles.
The new product ensures that pay-out is no longer capped at the original insured value, despite any changes to the value of the vehicle. Instead, by factoring inflation protection into the premium and a revaluation at six months, Attento ensures that the insured receives the actual cash value (ACV) of the vehicle at the time of the loss.
Sources: Pathpoint, Brit, Attento