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Beat Capital to merge with Paraline UK
23rd August 2018
It's been announced that Beat Capital Partners and Paraline UK are to merge in order to enhance and further build Beat's platform in an effort to support independent underwriting businesses. Following the merger, Beat, a Bermuda domiciled insurance holding company, will join Neon Holdings Ltd. as a strategic investment partner of ... Read the full article
W. R. Berkley establishes new Healthcare unit, names head
22nd August 2018
W. R. Berkley Corporation has announced the formation of Berkley Healthcare, a new unit that will provide a broad array of products and services to all types of healthcare providers, and has appointed AIG's Gregg A. Piltch as its President. Berkley Healthcare is comprised of Berkley Healthcare Professional Underwriters, which provides ... Read the full article
RiskBlock Alliance partners with EY on blockchain insurance services
22nd August 2018
The Institutes RiskBlock Alliance, a not-for-profit enterprise-level blockchain consortium for the risk management and re/insurance industry, has announced that Ernst & Young (EY) will serve as a primary service provider for blockchain-specific cybersecurity and risk management guidance. The services constitute part of the consortium’s efforts to implement and test multiple uses ... Read the full article
Lloyd’s agencies back alternative capital expansion: LMA survey
16th August 2018
An overwhelming majority of Lloyd’s managing agents support the continued use of alternative capital in the re/insurance market and believe that insurance-linked securities (ILS) transactions will expand beyond natural catastrophe risks, according to a survey by the Lloyd’s Market Association (LMA). The LMA’s poll of senior executives from 25 managing agencies ... Read the full article
Aspen ceases underwriting certain lines at Lloyd’s, cost a factor
13th August 2018
Aspen Insurance Holdings is to stop underwriting international professional indemnity (PI), marine hull, and aviation insurance at Lloyd's of London, with the cost of doing business at the specialist insurance and reinsurance marketplace being a factor. Speaking during the insurer and reinsurer's second-quarter 2018 earnings call, Chief Executive Officer (CEO), Chris ... Read the full article
Surplus lines premium continues to grow across U.S, reports SLTX
9th August 2018
Excess and surplus lines (E&S) premium has continued to increase steadily across the U.S, with the 15 national managing service offices recording growth of 9.4% at mid-year 2018, according to the Surplus Lines Stamping Office of Texas (SLTX), a non-profit data analysis firm. Total premium for the first half of 2018 ... Read the full article
BIBA partners with Tokio Marine Kiln on new drone insurance scheme
7th August 2018
The British Insurance Brokers’ Association (BIBA) has partnered with specialist and corporate insurer Tokio Marine Kiln (TMK) to launch a new drone insurance scheme. The Lloyd’s-backed scheme offers coverage for companies operating drones for either commercial or business purposes and is available via a digital platform that enables brokers to quote ... Read the full article
Email data breaches continue to escalate in Q2: Beazley
6th August 2018
The number of attacks targeting business email accounts continued to increase through the second quarter of 2018, particularly for organisations using Microsoft’s Office 365, according to specialist insurer Beazley. Beazley said that email compromises accounted for roughly 23% of incidents reported to its Beazley Breach Response (BBR) Services team during Q2 ... Read the full article
Liberty Specialty expands political violence coverage
3rd August 2018
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the launch of its expanded political violence coverage that now includes a range of new risks. Now included under one policy wording are loss of attractions, denial of access, third party liability, employees liability, cyber, and bodily injury as a ... Read the full article
Sciemus renamed as Occam, as CEO Welsh departs
26th July 2018
Specialty Lloyd’s of London managing general agent (MGA) Sciemus is to be renamed Occam Underwriting, with current Chief Executive Officer (CEO) Rick Welsh leaving his position after 3 years at the firm. Lance Gibbins, who has been Chairman and co-CEO since 2016, will succeed Welsh as CEO following his resignation from the ... Read the full article
CoreLogic partners with Esri to expand geospatial content offering
20th July 2018
CoreLogic, a global property information, analytics and solutions provider, has partnered with spatial analytics company Esri to expand the availability of its geospatial content using Esri’s online ArcGIS Marketplace. The online marketplace will allow users to more easily integrate CoreLogic’s content into their workflow, by providing access to more than 200 ... Read the full article
President of Travelers calls for auto industry involvement on automation
17th July 2018
The Executive Vice President and President of Personal Insurance at American insurer Travelers, Michael Klein, has highlighted the important role the insurance industry must play in the development of policies surrounding autonomous vehicles. “With the increasing adoption of semi-autonomous vehicles and the potential for fully autonomous vehicles, several policy-related questions and ... Read the full article
Alternative capital market still reliant on property catastrophe risk: Johansmeyer, PCS
12th July 2018
The issuance of catastrophe bond and insurance-linked securities (ILS) transactions during the first-half of 2018 remained strong, and there's an opportunity for the alternative reinsurance capital market to enter new regions and lines of business, ultimately transitioning away from its reliance on property catastrophe risks. Catastrophe loss data aggregator, PCS, highlights ... Read the full article
AFL enters partnership with U.S InsurTech start-up OnRisk
11th July 2018
AFL Insurance Brokers has entered into a strategic partnership with OnRisk, a U.S-based InsurTech start-up, to advance new technology for structuring and placing high value property & casualty (P&C) risk. The partnership will see AFL become an early adopter of the OnRisk structuring platform, which facilitates the placement process for risk ... Read the full article
Endeavour names Howden’s Karen Allen as CEO designate following SSL merger
10th July 2018
Lloyd’s broker and delegated authority specialist Endeavour Insurance Services has named Karen Allen as Chief Executive Officer (CEO) designate, who will join the business in October, 2018, following Endeavour’s recently announced merger deal with SSL Insurance Group. Allen will also take up the position of Group Managing Director, and will ... Read the full article
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