In this week's news will talk about how Nationwide reports another year of record sales, Heinz innovates with first-ever ketchup insurance policy, and much more...
Heinz innovates with first-ever ketchup insurance policy
Accidents relating to condiments can be quite common, a predicament that Heinz now aims to solve with its innovative insurance policy.
Heinz Arabia has unveiled a solution aimed at addressing the mishaps faced by ketchup enthusiasts – the introduction of the first-ever ketchup insurance policy.
This unique insurance offering is designed to mitigate the frustrations associated with ketchup spills, splatters, and stains, which Heinz touts as marking a significant step towards enhancing its customer experience.
According to Heinz Arabia, nearly half (48%) of its consumer base encounters ketchup-related accidents frequently, with a striking 91% affirming that the enjoyment of Heinz ketchup outweighs the potential mess.
Heinz Arabia has unveiled a solution aimed at addressing the mishaps faced by ketchup enthusiasts – the introduction of the first-ever ketchup insurance policy.
This unique insurance offering is designed to mitigate the frustrations associated with ketchup spills, splatters, and stains, which Heinz touts as marking a significant step towards enhancing its customer experience.
According to Heinz Arabia, nearly half (48%) of its consumer base encounters ketchup-related accidents frequently, with a striking 91% affirming that the enjoyment of Heinz ketchup outweighs the potential mess.
DOXA moves to entertain with latest acquisition
DOXA Insurance Holdings has announced its acquisition of RV Nuccio & Associates (RVNA), marking a strategic expansion into the event insurance sector.
RVNA, a managing general agent (MGA) established in 1990, specializes in providing coverage for events across the entertainment, sports, leisure, recreation, and non-profit sectors. The company offers exclusive programs tailored to weddings, film production, non-profit fundraising events, and more, backed by delegated underwriting authority from carriers rated “A” or higher by AM Best.
Presently, RVNA operates on a technology platform that enables the quotation and binding of policies in under 15 seconds, underscoring its focus on delivering rapid service to its insureds.
RVNA, a managing general agent (MGA) established in 1990, specializes in providing coverage for events across the entertainment, sports, leisure, recreation, and non-profit sectors. The company offers exclusive programs tailored to weddings, film production, non-profit fundraising events, and more, backed by delegated underwriting authority from carriers rated “A” or higher by AM Best.
Presently, RVNA operates on a technology platform that enables the quotation and binding of policies in under 15 seconds, underscoring its focus on delivering rapid service to its insureds.
HUB International continues M&A spree
HUB International has acquired Zavitz Insurance & Wealth for an undisclosed sum.
Zavitz Insurance & Wealth operates from London, Ontario, and specializes in group employee benefits, living benefits, life insurance, and financial and retirement planning. Under the deal, Zavitz Insurance & Wealth president Terry Zavitz, vice president Justine Zavitz, and the company’s roster will be integrated into HUB’s operations in Ontario.
Zavitz Insurance & Wealth operates from London, Ontario, and specializes in group employee benefits, living benefits, life insurance, and financial and retirement planning. Under the deal, Zavitz Insurance & Wealth president Terry Zavitz, vice president Justine Zavitz, and the company’s roster will be integrated into HUB’s operations in Ontario.
Nationwide reports another year of record sales
Financial services and insurance giant Nationwide has reported another year – the third in a row – of record sales.
The achievement, according to Nationwide, was thanks largely to the success of its financial services division. Notably, the significant milestone was reached even while providing members almost $23 billion in claims payments and benefits during a challenging period characterized by high inflation, rising interest rates, and extreme weather conditions.
The company’s total sales surged past $60 billion, an increase of $3 billion from the previous year, marking the third consecutive year of record performance. Net operating income, meanwhile, held steady at $1.3 billion. As for last year’s total adjusted capital, a nearly 5% increase resulted in $25 billion.
The achievement, according to Nationwide, was thanks largely to the success of its financial services division. Notably, the significant milestone was reached even while providing members almost $23 billion in claims payments and benefits during a challenging period characterized by high inflation, rising interest rates, and extreme weather conditions.
The company’s total sales surged past $60 billion, an increase of $3 billion from the previous year, marking the third consecutive year of record performance. Net operating income, meanwhile, held steady at $1.3 billion. As for last year’s total adjusted capital, a nearly 5% increase resulted in $25 billion.
Arbella Insurance Foundation marks lifetime donations milestone
The Arbella Insurance Foundation has marked a major milestone in the past year, cementing its status in the industry since its inception almost two decades ago.
The foundation has reported a contribution of $3 million in 2023 to aid 516 charitable organizations across New England, bringing its total donations to over $43.2 million since its establishment in 2005.
This year, the foundation’s financial assistance and the volunteer efforts of Arbella employees were directed towards longstanding charitable partners engaged in crucial areas such as social justice, housing opportunities, and immigration reform.
The foundation also noted substantial volunteer support, with 470 employee volunteers participating in 40 different activities for 22 organizations, contributing over 1,300 volunteer hours in 2023.
The foundation has reported a contribution of $3 million in 2023 to aid 516 charitable organizations across New England, bringing its total donations to over $43.2 million since its establishment in 2005.
This year, the foundation’s financial assistance and the volunteer efforts of Arbella employees were directed towards longstanding charitable partners engaged in crucial areas such as social justice, housing opportunities, and immigration reform.
The foundation also noted substantial volunteer support, with 470 employee volunteers participating in 40 different activities for 22 organizations, contributing over 1,300 volunteer hours in 2023.
