All Insurance articles – Page 29
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NewsQBE hikes catastrophe allowance by 24% after extreme weather
Premiums could rise after insurer QBE increased its allowance for catastrophic weather claims by almost a quarter following a year of unprecedented weather events in Australia and the United States.
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NewsNorway Landslide Insurance Bill Tops $100 Million
Insurance companies face costs of at least 900 million Norwegian kroner ($107 million) following the tragic landslide in Eastern Norway that is believed to have claimed ten lives.
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NewsU.S. taxpayers to pay Capitol siege tab as government shuns insurance
Taxpayers will pay for damages because federal agencies rarely carry insurance, industry and policy sources said. “Taxpayers will be on the hook for repairs to the Capitol,” said Stephen Ellis, president of Taxpayers for Common Sense, a U.S. budget watchdog group.
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People & OpinionMarkel hires Trevor Gandy to lead talent, diversity, and inclusion initiatives
Markel Corporation (NYSE: MKL) announced today that Trevor Gandy has joined the company as Managing Director, Talent, Diversity and Inclusion, effective January 1, 2021. In this new role, Gandy will further shape the company’s diversity, equity, and inclusion strategy for its global workforce. He will work closely with the company’s ...
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NewsMS Amlin Underwriting launches Phoenix 1 Re
Phoenix 1 Re Pte. Ltd. is the landmark first locally issued ILS to provide capacity to a local cedant, solely focused on the Pan-Asia region.
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NewsApplied Underwriters’ expansion continues with launch of US based D&O Division
Steve Menzies, CEO of Applied Underwriters, today announced the creation of a US based division of its Applied Financial Lines business unit to provide a variety of D&O coverages in the US under the direction of newly named President of the Division, Stephen McGill.
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NewsNexus acquires Marine business from Hiscox MGA
Hiscox will continue to provide underwriting capacity for the business alongside other existing markets, led by long-standing supporters Talbot and AXA XL. HMM will become an integral part of Millstream and the business will continue to operate as usual.
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NewsCastel enters Renewable Energy market
Castel will underwrite a book of marine, construction and operating risks, business interruption, general liability, sabotage, terrorism and theft losses and natural catastrophe coverages.
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NewsCovid-19 pandemic exacerbates opioid crisis as claims surge again
With the Covid-19 pandemic still ongoing, there has been a surge in claims for opioids. Sedgwick’s senior medical officer tells Insurance Times why the situation has worsened and what the loss adjustor has been doing to tackle it
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NewsLloyd’s and Parsyl launch insurance initiative for distribution of COVID-19 vaccines
Ben Hubbard, CEO, Parsyl said: “By unleashing the power of data, we’re addressing a critical insurance gap when the world needs it most.”
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NewsFCA launches consultation to determine how to prove Covid-19 presence for BI claims
The regulator wishes to be prepared should the Supreme Court agree with the High Court’s judgment
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People & OpinionBrit appoints new group chief financial officer from RSA Scandinavia
Specialty (re)insurer Brit has appointed Gavin Wilkinson as its new group chief financial officer, subject to regulatory approval.
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NewsBroker-led campaign urges government to underwrite a Covid-19 contingency insurance product
The ‘Let Live Thrive’ initiative is seeking an insurance solution to enable live events to take place again next year
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NewsSMEs are ‘most vulnerable’ to cyber attack
Cyber criminals consider SMEs a ‘sweet spot’ due to their lack of security controls and poor cyber hygiene
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NewsLemonade enters its third European market
Lemonade has already expanded into Germany and The Netherlands
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NewsFrench insurers to freeze premiums for sectors hardest hit by virus
Under pressure from Le Maire, insurers faced the prospect of being hit by a 1.2 billion euro ($1.45 billion) tax if they did not offer to keep premiums steady next year.
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NewsZurich and Plum Underwriting forge £150m capacity deal for non-standard home products
The insurer is replacing current capacity from Lloyd’s
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NewsLondon market startup Inigo received launch go-ahead
New London insurance group Inigo has received approval in principle from the Corporation of Lloyd’s and will start underwriting for 2021.
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NewsEIOPA must not undermine the ability of insurers to use reinsurance to manage risk
While EIOPA has acknowledged reinsurance as an effective way to mitigate risks that an insurer either cannot bear on its own or does not have the appetite to do so, insurers are concerned that the draft supervisory statement could restrict the valid use of reinsurance RMT.
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NewsAXA to sell Gulf operations for $269 million to GIG
AXA, Europe’s second biggest insurer, has agreed to sell its insurance operations in the Gulf region to Gulf Insurance Group (GIG) for $269 million, AXA said on Monday.
