NewsCyberLloyd’s updates state-backed cyber exclusionsLloyd’s has updated its market guidance on cyber exclusions to tighten eligible clauses for state-backed cyber attacks.Tue 14 May 2024
NewsCyberABI calls for a new systemic risk forum ahead of UK general electionThe Association of British Insurers is calling for the creation of a new UK systemic risk forum in conjunction with the government as it prioritises economic growth, the clean energy transition and national resilience in its lobbying agenda ahead of the UK’s anticipated 2024 general election.Tue 14 May 2024
NewsIGI Lloyd’s box move not a precursor to full syndicate formationIGI’s recent acquisition of a Lloyd’s box is not a precursor to the Bermuda-based reinsurer establishing a full syndicate within One Lime Street, CEO Waleed Jabsheh has told The Insurer.Tue 14 May 2024
ViewpointMedical malpracticeLondon Calling (Version Two)Acrisure’s John Sutton reflects on the evolution of the London healthcare market.Tue 14 May 2024
NewsEverest Insurance expands Asia Pacific business with Australia launchEverest has launched an insurance operation in Australia following approval from the Australian Prudential Regulation Authority, in a move designed to bolster the Bermudian carrier’s presence in the Asia Pacific region.Tue 14 May 2024
AnalysisRenewalsAnalysts welcome Munich Re 6.1% April renewals growth as rates plateau at peakMunich Re’s 6.1 percent volume growth at the 1 April renewals was welcomed by analysts after the world’s largest reinsurer delivered “weaker than expected” growth at 1 January.Tue 14 May 2024
NewsCyberMarket expects refresh of Lloyd’s cloud outage RDS: ParametrixThere is an expectation in the market that Lloyd’s cloud outage realistic disaster scenario will be refreshed to better reflect the present risk, according to MGA and modelling firm Parametrix.Tue 14 May 2024
NewsResultsHannover Re reports 88% CR with Baltimore loss “comfortably within budget”Hannover Re has confirmed its full-year profit targets after group net income rose 15 percent to €558mn ($602mn) during the first quarter of 2024.Tue 14 May 2024
NewsPeople MovesHamilton promotes Chin to newly created role of group chief actuaryHamilton Insurance Group has promoted Wilfred Chin to the newly-created role of group chief actuary.Mon 13 May 2024
NewsPeople MovesCSAA names Zukerman permanent CEO and presidentCSAA Insurance Group has appointed Mike Zukerman as president and CEO, with the executive stepping up into the leadership role at the AAA insurer on a permanent basis having been at the firm's helm on an interim basis since August 2023.Mon 13 May 2024
NewsPeople MovesCoaction adds ARC Excess & Surplus founder Cavallaro to board of directorsMorristown, New Jersey-based Coaction Specialty Insurance Group has appointed Christopher Cavallaro to the company’s board of directors, effective May 2024.Mon 13 May 2024
NewsPeople MovesIMA adds McGriff’s Mizell as director within energy and marine practiceIMA Financial Group has recruited McGriff executive John Mizell as a director within its Houston-based energy and marine practice.Mon 13 May 2024
TV News in FocusPeiser: Aon’s Risk Analyzer tools helping brokers design better programs and win businessAon’s Joe Peiser has said that his firm’s new suite of so-called Risk Analyzer tools for specific lines of business is helping clients and brokers design better insurance programs, and that they have also helped the retail giant win new business.Mon 13 May 2024
ExclusiveConstructionLiberty Mutual’s NA specialty division pulls out of builder’s riskThe North America specialty division of Liberty Mutual has withdrawn from writing builder’s risk insurance in a move that follows Ed O’Brien’s exit from its Ironshore unit to launch a new program in the business line at MGA CrossCover, E&S Insurer can reveal.Mon 13 May 2024
NewsCapital raisingInsurtech CoverTree secures $13mn in Series A funding roundCoverTree, a Detroit, Michigan-based insurtech specialising in manufactured home insurance solutions, has completed a $13mn Series A funding round led by Portage.Mon 13 May 2024
NewsCommercial autoFloodFlash launches dealer program supporting vehicle sales and rental businessesLondon-based insurtech FloodFlash has launched a dealer program aimed at assisting vehicle sales and rental businesses ahead of hurricane season.Mon 13 May 2024