Personnel Security Plus provides businesses with additional protection for their employees who are becoming increasingly vulnerable to a wide range of risks.

The new underwriting model enables Hiscox’s sabotage and terrorism line of business to significantly reduce the time taken from the submission of a risk through to the quote stage.

Hiscox spent $50 million on marketing in the first half of the year, a more than 30% increase compared to last year.

The acquisition deal has been terminated as the terms have not been met within the agreed time period. 

Customers can obtain a quote online within five minutes.

Maletsky is based out of Maryland and will report to Paul Spelman, SVP, Underwriting Management of Hiscox USA.

Outgoing CEO Kevin Kerridge will operate in an advisory capacity over the coming months before leaving to explore opportunities outside Hiscox at the end of September.

The CyberShock consortium is designed to offer up to $50 million of per-program capacity providing tailored, event-based protection for cyber insurers worldwide.

Hiscox USA provides same-day coverage for small businesses with $5 million or less in annual revenue.

Bringing over 20 years of industry experience to the role, Hellrung will lead all aspects of the US operations across service delivery, strategy, transformation, data, and process excellence.

Ray will guide the US technology team through their transformation journey.

The companies have launched the first AI-enhanced lead underwriting model in the London Market insurance industry.

This amounts to a workforce reduction of around 10% in the US.

The new funds will help the startup develop its API.