Category: News

Liberty Mutual Insurance Announces Agreement To Acquire The Domestic And International Surety And Credit Reinsurance Operations Of AmTrust

BOSTON, April 15, 2019 /PRNewswire/ — Liberty Mutual Insurance announced today it has signed a definitive agreement to acquire the global surety and credit reinsurance operations of AmTrust Financial Services, Inc. (AmTrust), a multinational property and casualty insurer specializing in coverage for small to midsized businesses. Upon closing, Liberty Mutual will acquire four AmTrust businesses:  AmTrust Surety,...

XBRL US Surety Working Group Initiates Public Review of Contractor Financials Data Standards

NEW YORK–(BUSINESS WIRE)–Apr 11, 2019–The XBRL US Surety Working Group, today announced the publication of a draft release of the Contractor Financials Taxonomy, which contains data standards to capture income statement and balance sheet information about contractors. The taxonomy was created by starting with an initial set of data...

Continuing bonds

A continuing bond, also called continuous bond, is a financial guarantee or a suretyship that renews automatically until it is canceled. Continuing bonds do not expire as long as the client makes the required payment for each renewal. In other words, it has an indefinite term. A continuing bond...

Duck Creek acquires distribution software provider

Duck Creek Technologies, the Boston-based insurance software company, has acquired Outline Systems LLC, a New Jersey-based provider of P&C insurance distribution channel management software, the companies announced Wednesday. “Outline’s distribution channel management software is a natural addition to Duck Creek’s platform and marks an important milestone in our growth...

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