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Agritask appoints Daniel Stander of RMS as senior advisor
5th August 2020
Holistic ag-operations platform, Agritask, has announced the appointment of Daniel Stander as senior advisor to its leadership team. Stander, a global pioneer in decision science and resilience finance, began advising Agritask earlier this year. He was hired in the effort to drive the innovation required to address the productivity challenges facing ... Read the full article
Beazley targets CyEx unit growth with addition of four new underwriters
4th August 2020
Specialty insurer Beazley has announced the addition of four new underwriters within its cyber & executive risk (CyEx) unit as it looks to grow the Chicago-based operation. Beazley's CyEx division was formed 18 months ago via the combination of the company's cyber & tech team and executive risk team, including D&O, ... Read the full article
COVID-19 proves importance of Solvency II, says EIOPA
31st July 2020
According to the European Insurance and Occupational Pensions Authority (EIOPA), over the last few months the COVID-19 outbreak has further proved the importance of the Solvency II regulatory framework. The EIOPA argues that the framework has helped re/insurers to better align capital to risk, build-up resilience and enhance risk management practices, ... Read the full article
EIOPA explores options for shared pandemic resilience
30th July 2020
The European Insurance and Occupational Pensions Authority (EIOPA) has published a new paper exploring several options for developing shared resilience solutions for pandemic risk. The European supervisory body shares the broad industry view that private re/insurance solutions alone will not be sufficient to protect societies against the financial consequences of future ... Read the full article
Chubb announces new leadership appointments
27th July 2020
Global insurer Chubb has announced leadership appointments in its North America Westchester and Financial Lines businesses. The property and casualty insurer has announced that Scott Meyer will succeed Bruce Kessler as Senior Vice President, Chubb Group and Division President of Westchester. Through its brokerage, binding and programs segments, Meyer will have executive ... Read the full article
Chubb names Stapleton as EVP, Financial Lines, Overseas General Insurance
22nd July 2020
Global re/insurer Chubb has appointed Tim Stapleton, currently Senior Vice President, Cyber Insurance and Information Technology, Overseas General Insurance, as Executive Vice President, Financial Lines, Overseas General Insurance. Stapleton takes over from Steve Goldman, who has recently been named Vice President, Chubb Group and Division President, North America Financial Lines. In his ... Read the full article
Kovrr adds Visesh Gosrani to Advisory Board
21st July 2020
Cyber risk modelling company Kovrr has expanded its Advisory Board with the addition of Visesh Gosrani, Chair of the Institute and Faculty of the Actuaries Cyber Risk Working Party. Gosrani has over 20 years of experience as an actuary and Chief Risk Officer in the insurance industry. He currently runs a consulting ... Read the full article
Casualty reinsurance demand strong amid market volatility: Aon
15th July 2020
Aon has reported that demand for reinsurance remains strong in the casualty space as insurers continue to deal with the volatile conditions created by rising social inflation and the COVID-19 pandemic. The broker expects reinsurance outcomes to vary widely depending on cedent experience and exposures, but noted that rate improvement now ... Read the full article
Protecdiv partners with BMS on P&C reinsurance offering
13th July 2020
Specialty property and casualty re/insurance broker Protecdiv has announced a new strategic relationship with BMS Group to enhance its service offering to property and casualty (P&C) reinsurance clients. The companies believe the partnership will enable them to leverage their strengths in the production, placement and servicing of ceded reinsurance and retrocession ... Read the full article
Aon salary reductions were justified, says CEO Greg Case
13th July 2020
Aon CEO Greg Case has defended his company’s decision to temporarily reduce salaries by up to 20% amid the COVID-19 pandemic. Case told the Financial Times that the move had been based on a “sober analysis” of the crisis, but was soon reversed after certain worst case scenarios became less ... Read the full article
NFP adds duo to specialty team
9th July 2020
Re/insurance broker NFP has announced the additions of Akhil Chopra and Elissa Doroff its specialty team. Chopra brings 20 years of cyber and professional liability experience that includes serving as cyber practice leader for Marsh. As managing director and head of NFP's cyber and network security specialty team, he will drive new ... Read the full article
QOMPLX to launch US insurance subsidiary RubiQon
8th July 2020
Analytics and insurance software provider QOMPLX is set to launch a US-based subsidiary that will offer cyber insurance, along with multi-line treaty and facultative re/insurance. Due to open in the fall, RubiQon Risk & Insurance Services/RubiQon Re will be a Managing General Agency led by former Validus Re CEO Conan Ward ... Read the full article
Beazley sets up booking system for online broker meetings
7th July 2020
Specialist insurer Beazley has launched an online booking system to help brokers arrange virtual appointments and share documentation with underwriters. Built in collaboration with Microsoft and IT consultancy Redspire, Beazley Booking uses Microsoft’s Power Platform to create a web application that brokers can access securely. The booking system will enable brokers to ... Read the full article
DXC business targeted in ransomware attack
6th July 2020
IT services provider DXC Technology has confirmed that its subsidiary, Xchanging, has been targeted in a recent ransomware attack. Xchanging is an insurance managed services business based in London that operates on a standalone basis. DXC said it was confident that the incident is isolated to the Xchanging environment, and does not ... Read the full article
Ransomware attacks up 25% in Q1, says Beazley
25th June 2020
Specialist insurer Beazley has reported a 25% spike in ransomware attacks in the first quarter of 2020 versus the fourth quarter of 2019. This figure is based on incidents reported to in-house breach response team Beazley Breach Response (BBR) Services. While nearly all industries reported incidents, the manufacturing sector was the hardest ... Read the full article