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Nayms becomes fully regulated in Bermuda
17th May 2022
Nayms has said that it has become the world's first crypto-native insurance marketplace to become fully regulated in Bermuda. According to the firm, it now holds both the full Digital Asset Business Act licence and Innovative General Business Insurance licence, allowing their insurance partners to conduct regulated insurance business on-chain for ... Read the full article
Insurers prioritising yield & ESG factors within investment decisions: Goldman Sachs
4th April 2022
According to findings from Goldman Sachs eleventh annual global insurance survey, as insurers continue to prioritise yield and Environmental, Social and Governance (ESG) factors in investment decisions, they plan to increase their allocation to private equity (44%), and green or impact bonds (42%) over the next year. The survey titled – ... Read the full article
Fundamental problems persist in D&O market: AM Best
24th March 2022
Rate increases have led to sizable premium growth in the US directors and officers (D&O) insurance, but loss ratios have not yet shown improvement, according to a new AM Best report. The rating agency notes that through the first three quarters of 2021, the growth rate of direct D&O premium compared ... Read the full article
Lemonade to use blockchain to deliver “affordable and instantaneous” climate insurance
22nd March 2022
Insurtech firm Lemonade has announced the launch of the Lemonade Crypto Climate Coalition, which will offer climate insurance to the world’s most vulnerable farmers. The climate insurance will be architected as a stable coin-denominated, decentralised application (dApp) on Avalanche – an eco-friendly proof-of-stake blockchain. This will allow farmers to make and ... Read the full article
Cyber threats continue to grow: Tokio Marine HCC
18th February 2022
The threat from cyber threats continues to grow, according to a new report from Tokio Marine HCC. The second edition of the Cyber Incidents Report found that just ten incidents in 2021 led to the theft of over $600m in cash, while tens of millions of records, and ten of thousands ... Read the full article
Evertas becomes Lloyd’s coverholder
4th February 2022
Lloyd’s of London has approved insurer Evertas to become one of its coverholders. This designation, said Evertas, will allow it to expand access to insurance products relating to cryptoassets. As a Lloyd’s coverholder, Evertas will provide insurance capacity to cryptoasset investors. J. Gdanski, CEO of Evertas, said: “The lack of insurance capacity ... Read the full article
Moody’s warns on the costs of cyber crime
4th February 2022
A recent court ruling in New Jersey highlights the hidden risks within cyber coverage, says a new briefing from Moody’s. The briefing, which came out a few days ago, looks at a ruling involving Merck & Co., which had sought insurance coverage from fifteen of its P&C insurers for damages related ... Read the full article
SiriusPoint invests into Honeycomb
21st January 2022
SiriusPoint has announced an investment into technology firm Honeycomb. The investment is part of Honeycomb’s latest round of funding, which has seen the firm raise $19m. The additional funds will reportedly be used to further deepen the company’s technological moat and help it expand into multiple additional states in the US. According ... Read the full article
Lloyd’s releases Product Launchpad
7th January 2022
Lloyd’s has released its new Product Launchpad to further the work of the Product Innovation Facility and enable the Lloyd’s market to keep partnering with Insurtech, advancing innovation and developing new insurance solutions. Under the oversight of the Lloyd’s Lab team, potential ideas reaching the Lab through its expanding programme can ... Read the full article
Blue Island Technology launches new risk engine
2nd December 2021
Blue Island Technology (BIT) has launched Blue Lightning, a cat risk analytics and roll-up engine. The engine is designed to run alongside a customer’s existing portfolio management system to provide a fast and responsive analytics and roll-up solution. With the ability to scale up and out, coupled with intelligent caching, Blue Lightning ... Read the full article
HDI Global SE develops insurance solution for Hoyos Integrity Corp
2nd December 2021
Industrial insurer HDI Global SE has developed an insurance solution for US company Hoyos Integrity Corporation. Hoyos Integrity Corporation specialises in digital services and device development for protected communication and the secure storage, custody and transfer of digital assets. The Hoyos wallet is available for both iOS and Android devices and supports ... Read the full article
AJ Gallagher acquires Arkansas brokerage Alpha Surety
13th October 2021
Arthur J. Gallagher & Co., the global insurance brokerage, risk management and consulting services firm, has announced the acquisition of Alpha Surety & Insurance Brokerage. Alpha Surety is based in Little Rock, Arkansas and was founded in 2002. It focuses primarily on selling direct and wholesale commercial surety bonds in key industry ... Read the full article
MS Exchange attacks could drive thousands of claims: CyberCube
12th April 2021
Cyber analytics provider CyberCube has warned re/insurers of the potential for a large volume of claims resulting from recent cyber attacks by criminals on the servers running Microsoft’s email services. Tens of thousands of Microsoft Exchange servers in businesses and organisations around the world could have been infected during a series ... Read the full article
Starr, Liberty Mutual raise $100m for Bitcoin-focused NYDIG as TransRe’s Sapnar joins
8th April 2021
Starr Insurance and Liberty Mutual are among a number of leading property and casualty (P&C) insurers that have helped NYDIG, provider of technology and investment solutions for Bitcoin, raise $100 million in additional growth capital. These companies join existing investors such as New York Life and MassMutual. Concurrently, NYDIG has announced the ... Read the full article
Lockton US hires new Executive Risk Claims leader
1st April 2021
Global re/insurance broker Lockton has appointed Sarah Downey to lead Executive Risk Claims. Downey most recently served as Managing Director, U.S. D&O Product Leader and Digital Asset Risk Transfer Leader for Marsh’s FINPRO Practice. She also served as a senior claims advocate for complex claims at Marsh. Downey joined Marsh in 2014 and ... Read the full article