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CFC launches Carbon Cancellation Insurance

13th June 2024

CFC, a specialist insurance provider in emerging risks and cyber insurance, has launched its second insurance product for buyers of voluntary carbon credits. The new Carbon Cancellation Insurance safeguards against financial and management risks if purchased carbon credits are cancelled or invalidated due to political risks such as regulatory changes or ... Read the full article

Regulatory, supply chain & geopolitical risks deemed top business concerns: BDO

13th June 2024

Organisations need to change the way they respond to global risks if they want to stay competitive, according to findings from a new report from BDO, the accountancy and business advisory firm. BDO's annual risk report found that business leaders are facing almost permanent disruption, with 84% of respondents to its ... Read the full article

Sonja Kozel named INSUREtrust Senior Vice President

13th June 2024

INSUREtrust, a cyber insurance and risk management specialty broker within CRC Group, has hired Sonja Kozel as Senior Vice President. In her new role, Kozel will focus on broadening the group’s footprint through internal collaboration as well as expanding and strengthening retail brokerage partnerships. The executive brings more than a decade of ... Read the full article

Business owners worried insurance would not cover specific loss or event: Gallagher

12th June 2024

Business owners are focusing on preparing for the unforeseeable as they worry their business insurance will not cover specific losses, a recent study by insurance broker Gallagher has found. A survey was conducted among 1,000 US business owners which revealed that 80% of the participants are worried their business insurance will ... Read the full article

Natural disasters threaten supply chains & economic stability: Swiss Re

12th June 2024

Increasing weather-related natural disasters not only cause property damage but also pose serious risks to supply chains, leading to business interruptions and potential economic slowdown, according to Swiss Re’s 2024 SONAR report. Swiss Re highlights that wildfires can contaminate water sources or disrupt access to them. Similarly, floods and storms can ... Read the full article

CFC enhances fintech insurance coverage

12th June 2024

CFC, an insurance provider known for emerging risks in the cyber insurance market, has announced a significant update to its fintech insurance coverage. This revamped offering, available in the UK, Canada, and Australia, provides a streamlined, comprehensive solution that addresses both professional service and technology risks faced by today's fintech sector. “It’s ... Read the full article

Nick Selby to lead Evertas European Underwriting team

11th June 2024

Crypto insurance company Evertas has announced the appointment of Nick Selby, an accomplished information and physical security professional, as its new Head of European Underwriting. Selby brings to Evertas 20 years of expertise in public and private sector information security, physical security, and complex incident handling, as well as seven years ... Read the full article

Swiss Re’s Ismaeel Adams joins QBE Re as Regional Head of Africa

11th June 2024

Ismaeel Adams has joined QBE Re, the reinsurance arm of QBE Insurance Group, as Regional Head of Africa. Based in Dubai, Adams is joining QBE Re after eight years with global reinsurer Swiss Re, where he most recently served as Vice President - Regional Manager Southern Africa. Through his tenure at Swiss ... Read the full article

US commercial insurance prices up 6.3% in Q1’24: WTW

10th June 2024

For the first quarter of 2024, U.S. commercial insurance price rises of 6.3% were in line with the post-pandemic trend, with quarterly price increases of approximately 6% having remained steady, according to re/insurance broker WTW's latest Commercial Lines Insurance Pricing Survey (CLIPS). The overall increase of 6.3% for the first quarter ... Read the full article

Catastrophe losses may raise rates, reduce homeowner protection: S&P

10th June 2024

As insured catastrophe losses surge, potentially leading to higher rates and diminished homeowner protection, S&P Global Ratings, a provider of credit ratings and research, examines the challenges facing property/casualty insurers. In their recent report, S&P highlight how recent data shows that insured catastrophe losses in the US have soared to over ... Read the full article

Third-party capital to remain relevant for reinsurers to reduce increased nat cat risk: S&P

7th June 2024

Third-party capital is expected to continue growing and to remain an important way for reinsurers to reduce natural catastrophe risk, according to S&P analysts. According to a recent S&P report the risk level of natural catastrophes - influenced by climate change, urbanisation, and inflation - is high, a trend that will ... Read the full article

AXA XL appoints Noel Pearman as new CUO, Bermuda

7th June 2024

As part of the recently announced insurance underwriting operations reorganization in the Americas, which aligned its three business segments under Large Commercial, Mid-Market and Professional, AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has appointed Noel Pearman as the Chief Underwriting Officer ... Read the full article

MGA Nirvana renews MTC binding authority

6th June 2024

Specialty managing general agent (MGA) Nirvana has announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £10mn Media Liability line. It has also expanded authority in Technology and Cyber lines, including new coverage for the financial software industry. Additionally, Nirvana MTC has expanded SCOR’s ... Read the full article

Life insurers shifting more into the retirement space are increasingly exposed to market risk: S&P

6th June 2024

As sales of annuities - notably fixed annuities and fixed-indexed annuities - by U.S. life insurers have ballooned since 2021, S&P Global Ratings explores the challenges facing life insurers. In a recent report released by the firm, it reveals that demand for annuities, as well as other forms of private retirement ... Read the full article

Alta Signa expands into Swiss market with new office

5th June 2024

Alta Signa Europe B.V., the European boutique managing general agent (MGA), is expanding its presence in the DACH region by opening a new office in Switzerland. This new office will have access to high-quality insurance options from trusted partners in Alta Signa’s network, ensuring reliable coverage for clients. Located in Cham, Zug, ... Read the full article