Cargo

King Risk Partners acquires NJ-based Pearl

Private equity-backed broker King Risk Partners has expanded into the New Jersey market with its acquisition of Cranford-based Pearl Insurance Agency.

Shipping’s “perfect storm”: an insurance and reinsurance perspective

Jen D’Arcy, executive vice president and head of marine facultative reinsurance at Acrisure Re, reflects on how multiple factors can combine to cause severe disruption in the shipping sector.

Gallagher appoints Howden’s Eaton to US-focused cargo role

Gallagher has appointed Howden executive Jonathan Eaton as executive director in a senior US-focused cargo role.

Pen’s Vessel Protect enters cargo war with $100mn limits

Specialist war risk MGA Vessel Protect – part of Gallagher’s Pen Underwriting – has added cargo war to its existing product suite, offering limits of up to $100mn.

Insurtech Otonomi launches parametric air cargo delay protection for global shipments

MGA Otonomi has launched an air cargo delay offering which provides limits of up to $100,000 for each flight transporting cargo, with payouts if arrival is delayed by three hours or more.

Consilium launches cargo stock throughput offering

Consilium, the specialty broking business of the Aventum Group, has launched a cargo stock throughput offering with Alesco Risk Management’s Jack Cooper as senior partner.

Across America gets Incline paper for commercial auto liability E&S program

Expansive wholesale intermediary and MGA Across America Insurance Services has partnered with Incline Americas Insurance Company on a commercial auto liability E&S program providing commercial auto liability, physical damage, motor truck cargo and general liability coverage.

Amphitrite secures Sykes to head up cargo division launch

Specialist marine MGA Amphitrite Underwriting London has launched a cargo division with Scott Sykes appointed as its head.

Falvey hires Allianz veteran McClintock as marine cargo SVP

Falvey Insurance Group has appointed Brian McClintock as senior vice president, underwriting, marine cargo.

Munich Re Specialty group cargo head O’Dwyer exits

Munich Re Specialty’s group head of cargo Anthony O’Dwyer has exited the business, The Insurer can reveal.

McGill’s Coles re-emerges as head of capital at Parsyl

Parsyl has continued to build out its London platform with the hire of former McGill and Partners reinsurance broker Simon Coles as head of capital.

McGill names Kimber marine and cargo partner

McGill and Partners has appointed Amy Kimber as partner within its marine and cargo unit.

Ardonagh’s Price Forbes U-turns on former Howden cargo lead Eaton hire

Ardonagh Specialty’s Price Forbes has withdrawn its previously accepted job offer to former Howden global head of cargo Jonathan Eaton, The Insurer can reveal.

Euclid launches marine program manager led by Pullen and Gomez

Euclid Program Managers has added to its expansive platform with a start-up led by Brian Pullen and Jason Gomez offering comprehensive marine cargo and stock throughput coverage on Lloyd’s paper for North American insureds, Program Manager can reveal.

Howden launches $50mn Red Sea cargo war facility

Howden has launched a $50mn cargo war facility to cover vessels transiting through the Red Sea, where ships have been targeted by Houthi attacks since November.

Marsh’s Baker: Unity facility has led to 50% rate reductions with more to follow

Rates have fallen more than 50 percent for ships carrying Ukrainian grain exports since the launch of the Unity facility in November 2023, according to Marsh’s global head of marine and cargo Marcus Baker.

CNA Hardy names UPS Capital’s Moses as cargo underwriting manager

CNA Hardy has appointed UPS Capital’s Sarah Moses as underwriting manager for cargo.

LMA updates hull and cargo clauses following new Russian oil price cap rules

The Lloyd’s Market Association has revised its hull and cargo endorsement and attestation clauses in response to the Oil Price Cap Coalition’s new rules requiring marine insurers and P&I clubs to request proof for voyages of Russian oil products.