Allstate drones inspected hailstorm damage
Homes affected to hailstorms in San Antonio, TX were inspected by Allstate Insurance using drones.
The insurer has been testing drones over the past year and has previously inspected damage to homes in Colorado but executive vice-president of claims Glenn Shapiro told Fortune.com that the change in FAA rules mean that last week’s investigation did not required a licensed pilot and a ‘spotter’.
Instead Allstate was able to carry out the inspections with someone with a drone-piloting certificate and no additional person. The insurer also surveyed the damage with human inspectors and will compare the two sets of results.
While Shapiro says that the plan is to “operationalize” the use of drones in the next few months with savings to both time and cost, he still sees a need for human inspectors.
This will include analysing the information collected by the drones and in cases where a human needs “to get close and personal to the shingles” for a closer inspection.
Integro acquires Insurance Revolution
International insurance and risk management firm Integro Insurance Brokers of New York has acquired Insurance Revolution, the parent company of specialty broker Maloy Risk Services and Lloyd’s cover holder Piedmont Managers.
“Rick Maloy and his specialist team bring much to Integro, including considerable expertise in creating customized risk management solutions for underserved risks,” said Bill Goldstein Integro CEO. “In addition, the team’s innovation is well known, as evidenced by a bespoke management liability product they developed that is having significant impact in the hedge fund market place. We are delighted for Integro and our clients in a number of industries that stand to benefit from the experience and knowledge the team adds to Integro.”
Maloy’s Financial, Life Science and Technology teams will operate as part of Integro’s Risk Management Division, while Piedmont Managers will continue to operate within the same division.
Coastal American launches combined wind, flood coverage
Coastal American Insurance Company has launched a new combined wind and flood insurance policy, which it says is a nationwide first.
The insurer has partnered with the WaterStreet Company to provide the private flood endorsement which Coastal American CEO president Ned Dolese says is a “game changer”.
He says that the new endorsement offers an alternative to the National Flood Insurance Program and allows Coastal to underwrite risk on the basis of specific elevation and distance to water.