News – Page 74
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NewsUkraine crisis forces supply chains to rebuild
As nations join the wall of sanctions against Russia, its success will depend on building new lines of delivery
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NewsLloyd’s issues catastrophe warning amid sanctions move
As Lloyd’s of London was thrust into the front line of the sanctions fight against Russia, the market announced that it planned to get tough with syndicates and managing agents over their ability to understand and factor climate change into their underwriting.
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NewsGovernment to impose sanctions preventing UK insurers and reinsurers covering Russian firms
The UK government is set to bring in further legislation to prohibit UK-based insurance and reinsurance providers from dealing in financial transactions connected with Russian entities.
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NewsLloyd’s plans to be ‘magnet’ for talent following chief people officer appointment
Lloyd’s has appointed Sara Gomez as its new chief people officer (CPO).
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NewsAM Best takes negative rating action amid Russia-Ukraine tensions
Credit rating agency AM Best has placed under review the financial strength rating (FSR) and long-term issuer credit rating of several Russian insurance companies.
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NewsUkraine invasion puts cyber resilience to the test
Firms urged to improve cyber resilience as governments anticipate rise in state-sponsored attacks - MyCena
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NewsLloyd’s of London could face ‘sizeable’ hit from Russia-Ukraine war
Lloyd’s of London could be facing a “sizeable” loss from its $2bn share of the political risk insurance market during the ongoing Russian and Ukraine war.
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NewsInsured losses from Storms Dudley and Eunice predicted to reach up to €4.5bn
The global insured losses arising from Storms Dudley and Eunice, which hit the UK in February 2022, are expected to reach between €3bn (£2.5bn) and €4.5bn (£3.7bn), according to risk modelling firm RMS.
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NewsBeazley partners with Lloyd’s Lab alumni on IVF insurance proposition
Beazley has partnered with Lloyd’s Lab alumni and insurtech Gaia to offer a new insurance solution for individuals undertaking in vitro fertilisation (IVF) treatment.
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NewsBeazley targets cyber book growth in 2022 following increased customer demand
London market insurer Beazley is geared up to grow its cyber book in 2022, aiming for premiums in this line to “represent more than 15% of our business”, according to chief executive Adrian Cox.
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NewsTop 10 cyber incidents last year cost firms $600m
Cyber threats are more common, more dangerous and more destructive than ever before - Tokio Marine HCC International
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NewsFCA urges firms to beef up cybersecurity amid Ukraine tensions
Businesses must take a more active ‘defence-in-depth’ approach to combat ransomware reprisal attacks
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NewsZurich UK returns to pre-pandemic level with £450m operating profit
Zurich UK has returned to its pre-pandemic level with a business operating profit of £450m for the year ending 31 December 2021, according to its year-end financial results, published today (10 February 2022).
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NewsChaucer and Moody’s launch ‘game changing’ ESG scorecard
Tool will evaluate businesses’ risks and opportunities based on 158 different ESG metrics
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NewsHowden snaps up Willis Towers Watson chief executive to head France
Insurance intermediary firm Howden has appointed former Willis Towers Watson (WTW) GB boss Nicolas Aubert as its chief executive of France.
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NewsGallagher Re: 2021 third largest cat year for re/insurers
Reinsurance broker urges a rethink of the impact from “secondary perils” as extreme weather events drive loss tally
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NewsHard market continues with cyber rates up 130% in Q4
It was the 17th consecutive quarter of commercial insurance price increases, according to Marsh
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NewsInsurtech MGA using parametric call to brokers after $120m funding
Insurtech MGA Descartes Underwriting has raised $120m as it looks to expand relationships with brokers.
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NewsLloyd’s plan for consistency in face-to-face meetings amid rise in home working
Transparency on when underwriters will be available in person is needed
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NewsLloyd’s of London launches interactive guide and road map for Blueprint Two
Blueprint Two, which was first published in November 2020, sets out the planned implementation of new digital solutions for the Lloyd’s market - these aim to make transactions faster and cheaper for participants.
