News – Page 116
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NewsIndonesia says divers closing in on black boxes from crashed jet
The Boeing 737-500 jet was headed on a domestic flight to Pontianak on Borneo island, about 740 km (460 miles) from Jakarta, before it disappeared from radar screens four minutes after take-off and crashed into the Java sea.
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NewsTravel insurance sector set to face more upheaval in 2021 warns IPP boss
The uncertainty that has accompanied the Covid-19 pandemic has put the travel industry into a huge amount of debt, and it could get a lot worse
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NewsDARAG announces reinsurance agreement with US retailer
DARAG Group (“DARAG”) announces the conclusion of a transaction with a major US retailer to provide finality to its legacy workers compensation liabilities. The transaction was conducted through one of DARAG North America’s insurance entities. Tom Booth, CEO of DARAG Group, said: “This transaction demonstrates DARAG’s ambitions in the ...
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People & OpinionTom Williams joins Markel as Environmental Product Line Leader
Markel Corporation (NYSE: MKL) announced today that Tom Williams has joined the company as Environmental Product Line Leader. He will lead the environmental team for the Markel Specialty division.
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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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NewsHowden Group Holdings launches Howden Capital Markets (“HCM”) - the Group’s capital markets advisory practice
HCM is a new capital markets adviser with a clear ambition to develop innovative products to service clients, markets and investors.
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NewsNewly launched broker led by ex-Marsh director generates £500,000 GWP during first three months
The new broker has appointed a series of ’insurance heavyweights’ and entrepreneurs; it hopes to expand further in the coming months
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NewsEU may ask too high a price for financial services trade, Bank of England warns
Bailey said between 5,000 and 7,000 financial services jobs had already left Britain for the EU - fewer than some forecasters had feared, though the process was not over.
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NewsUp to 4,000 financial firms could fail due to COVID, says UK regulator
The FCA surveyed 23,000 financial firms to check on their resilience to COVID-19, which last year triggered Britain’s worst economic downturn in 300 years.
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NewsBroker pair form London Re in joint venture
With Brexit underway, the creation of London Re is aimed at directly serving clients in the European Union
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NewsNatural disasters cause $210 billion in damage in 2020 - Munich Re
Overall, the uninsured portion of natural disaster losses in 2020 was around 60%
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NewsCOVID-19 tops travel risks for 2021
Violent crime, political instability, severe natural disasters and social unrest are among the other threats to companies and their staff
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NewsPen Underwriting strikes capacity deal with Zurich for hazardous goods and tanker transportation
MGA Pen Underwriting has confirmed a five-year capacity deal with insurer Zurich for its hazardous goods and environmental industries’ motor fleet proposition.
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NewsQuarter of a billion worth of claimant damages stuck in litigation process – Zurich
Road traffic accident claimants are having to wait for more than a year before being heard in court, finds the insurer’s analysis
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NewsGroup Ark Insurance has been assigned a financial strength rating of A (Excellent) by AM Best
AM Best said: “The ratings reflect Ark’s consolidated balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management, and are based on the group’s five-year business plan.
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People & OpinionActive Underwriter of QBE Syndicate 386 to retire
David Harries, Active Underwriter of QBE Syndicate 386 and Head of Financial Lines will be stepping down as part of a long-planned retirement.
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People & OpinionGrandisson elected chairman of Abir
Marc Grandisson has been elected chairman of the Association of Bermuda Insurers and Reinsurers. He succeeds Albert Benchimol.
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NewsCharles Taylor expands U.S. TPA and IMS through acquisition of Aegis Corporation
Aegis provides risk pools and self-insureds with customized insurance and claims management programs focused on the unique needs of public entities and municipal organisations.
