Specialty
Trump’s war risk insurance scheme is going nowhere
‘Lot of talk but not a great deal of action,’ market sources say, with reinsurance facility understood to have no known users
Optio acquires marine MGA Gardian Marine
Acquisition aims to address gaps in the marine specialty market and broaden Optio’s specialisms
Nature treaty preserves IMO’s mandate: Osborn
International Maritime Organization’s head of marine environment explains how the Biodiversity Beyond National Jurisdiction Agreement impacts shipping
Swedish Club books third successive underwriting surplus
Back-to-basics approach pays off for Gothenburg-based marine mutual
Static approach to Middle East risk insufficient: WTW
The scale and spillover of the current crisis is drawing corporate operations and global supply chains directly into the conflict environment, according to WTW’s Patrick Rogers
Arch launches intellectual property consortium
$40m consortium is also backed by syndicates including Axis, Everest, QBE and Scor
Energy broker Ventura launches with BP Marsh backing
Lloyd’s broking firm is founded by former Miller broker Alex Taylor
Re/insurers must plan now for nuclear-powered ships: Axa XL
Any future insurance for these vessels would need to be ‘bespoke, extremely high in value and likely supported by governments’, Axa XL’s Vicky Roberts-Mills and Jarek Klimczak say
Aviation lessor appeal will not reopen all risk versus war risk question
Leave to appeal given on several technical points concerning the scope and wording of the war cover
Acrisure London Wholesale expands into aviation
London market broker hires Marsh's Jonny Rowling to lead new practice
Cyber and casualty are concerns in the soft market: Axa XL’s Guénot
The insurer’s head of Southern Europe, Julien Guénot, worries about cyber risk volatility and loss deterioration in casualty lines
Aviation safety is a product of the many and not the few
The sustained reduction in aviation fatalities is the result of continuous effort by countless individuals and organisations
Aviation lessor appeal will not reopen all risk versus war risk question
Leave to appeal given on several technical points concerning the scope and wording of the war cover
AI may increase productivity rather than replace jobs
Artificial intelligence is producing efficiency gains but is no substitute for human expertise, argues WTW’s Laura Doddington
Bridgehaven expands into Europe with Arrow partnership
Partnership marks the insurer’s first step into the European delegated underwriting market
Political risk market responds to increasing world tumult
Demand for political risk insurance cover continues to rise amid the Middle East crisis and US protectionist policies, but Russia’s invasion of Ukraine has made underwriters more cautious
Political risk insurance demand set to spike as Middle East tensions grow
Growing appetite for cover as missile strikes and regional unpredictability heighten threats to businesses, survey finds
Trade credit insurers hope for change to EU capital rule
Insurers and trade bodies are calling for changes to ‘super conservative’ bank capital rule that is depressing demand for trade credit insurance
LMA pledges to work with US on political risk insurance for shippers
JWC secretary expresses doubt about US effort
Joint war committee revises listed areas following Iran strikes
The JWC confirmed that Bahrain, Djibouti, Kuwait, Oman and Qatar have been added to the listed areas for hull war, piracy, terrorism and related perils
Middle East tensions raise aggregation risks for terrorism insurers
Prolonged conflict could lead to stricter underwriting conditions and reduced capacity, particularly for risks linked to critical infrastructure and high-profile locations, analysts warn
Pool Re announces £2.75bn retrocession package
Pool Re hails record number of private reinsurance backers
Iran conflict widens political violence exposure across the Middle East
Escalation between the US, Israel and Iran is transforming political violence risk from a contained threat into a multi-jurisdictional accumulation challenge for insurers
Joint war committee revises listed areas following Iran strikes
The JWC confirmed that Bahrain, Djibouti, Kuwait, Oman and Qatar have been added to the listed areas for hull war, piracy, terrorism and related perils
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