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US commercial insurance to remain stable, property performs despite cat losses: Lockton
17th December 2024
According to a new Lockton Market Update report, while the US commercial insurance market remains generally stable and predictable for buyers, a sense of fragility persists as insurers and business leaders monitor natural catastrophes, rising social inflation, and an uncertain geopolitical landscape. Lockton, the independent insurance broker, also highlights US economic ... Read the full article
Economic risks, weather & talent shortage among top concerns for APAC businesses: Marsh, Zurich
16th December 2024
Economic headwinds and escalating climate risks are the most pressing concerns for businesses across the Asia Pacific (APAC) region, a new survey conducted by the World Economic Forum, and released in partnership with Marsh McLennan and Zurich Insurance Group, has revealed. According to the Executive Opinion Survey business leaders are increasingly ... Read the full article
Lockton launches new Global Parametric Insurance Practice
16th December 2024
Independent insurance broker Lockton has unveiled its new Global Parametric Insurance Practice, created to help businesses adopt cost-effective alternative risk solutions, and address the widening gap between insured and uninsured losses. The initiative brings together a team of experts, including data scientists and modelers, that are dedicated to creating efficient, customised ... Read the full article
Grey zone threats increase for a variety of sectors: says WTW
13th December 2024
The risk to vessels, undersea cables, and offshore oil installations is growing primarily due to the availability of advanced weapons and the willingness of certain states, notably Russia and Iran, to disregard international maritime laws, according to global re/insurance broker WTW. In WTW's Political Risk Index for H2'24, the firm highlighted ... Read the full article
Facultative reinsurance increasingly used to manage emerging challenges: WTW
12th December 2024
New research from WTW has revealed a shift away from a transactional view of facultative reinsurance and a move towards using it as a tool to achieve strategic objectives and priorities, fill gaps in treaties and manage risk throughout the cycle. According to a survey conducted by WTW partner Coleman Parkes ... Read the full article
Duck Creek bolsters global team with three senior executive appointments
11th December 2024
Duck Creek Technologies, a provider of software solutions for property and casualty (P&C) and general insurance, has appointed three industry veterans to its senior global leadership team to fuel its growth and transformation. William Magowan has been appointed as the Senior Vice President of North American Sales; Elodie Hilderal, Managing Director ... Read the full article
Professional indemnity insurance rates plunge amid new competition, says Clyde & Co
10th December 2024
Professional indemnity (PI) insurance rates are falling at an unprecedented pace, with 56% of market participants predicting no rate increases in 2024, according to a new report from law firm Clyde & Co. The findings highlight the growing impact of competition from new entrants, particularly Managing General Agents (MGAs), which are ... Read the full article
New domiciles are impacting the landscape of the European captive insurance segment: AM Best
10th December 2024
New European captive domiciles are seeing growth in company formations, including redomicilations from other jurisdictions, according to AM Best. In a new report, the agency reveals that France is leading the way in terms of new captive formations in Europe in 2023 and 2024. In 2023, five new captive licences were ... Read the full article
Envelop Risk completes three year capacity agreement with MS Reinsurance
10th December 2024
Data-driven cyber reinsurance and analytics specialist Envelop Risk has completed a capacity agreement with MS Reinsurance for a further three years, in addition to reaching the milestone of $1 billion gross written premium since its launch in 2018. At the same time, MS Reinsurance has become a client of Envelop’s new ... Read the full article
Graham to lead DUAL NA’s EIURS as EVP, Frey named SVP of Professional Liability
9th December 2024
DUAL North America has announced two new underwriting leadership appointments in its casualty divisions, Andreas Graham as Executive Vice President of the EIURS team, a division of DUAL, and Ed Frey as Senior Vice President of Professional Liability. Leading the EIURS team at DUAL, Graham will head the middle market energy ... Read the full article
Businesses must ensure they take a considered approach when they implement AI: Beazley’s Cox
9th December 2024
Despite the excitement surrounding artificial intelligence's (AI) potential, businesses should take stock and ensure that they are taking a considered approach as they implement the technology into their systems, says Adrian Cox, Chief Executive Officer (CEO) of Beazley, the specialist insurer. "AI and how it can transform business has dominated conversation ... Read the full article
Trustees urged to look beyond price when selecting insurers: Hymans Robertson
6th December 2024
A new paper from Hymans Robertson, a leading pensions and financial services consultancy, advises trustees of defined benefit (DB) pension schemes to look beyond price when selecting an insurer for buy-in or buy-out transactions. While cost remains a critical factor as schemes approach buy-out and wind-up, the report highlights the importance ... Read the full article
Beazley Security appoints senior leaders to drive growth and expansion
5th December 2024
Beazley Security, a provider of cyber risk management and insurance solutions, has announced the appointment of two senior leaders to drive its growth and geographic expansion. Stephanie Webb will lead sales operations in the UK and Europe, while Jason Deering will focus on strengthening client relationships across the Americas, including the ... Read the full article
The Geneva Association announces two new leadership appointments
4th December 2024
The Geneva Association has announced the appointment of Darren Pain as Director of Research and Dennis Noordhoek as Director of External Stakeholder Engagement, both effective 1 January 2025. Pain, who currently serves as Director Cyber and Evolving Liability, will be succeeding Kai-Uwe Schanz. In his new role, he will oversee the organisation’s ... Read the full article
BHSI announces UK executive & professional lines appointments
4th December 2024
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Andrew Hopper as Head of Financial Institutions, UK, and the promotion of Chris Nixon to Underwriting Manager, Executive & Professional Lines, UK. Nixon will be taking over the role from Chris Warrior, who is retiring at year end. “I am extremely proud ... Read the full article
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