Specialty
Chubb updates on US Gulf reinsurance plan
US insurance giant will set prices and handle claims, while the federal government will determine access terms
Marine insurers ‘struggling with supply chain risk’ as Iran conflict intensifies
Marsh’s global head of marine, cargo and logistics says insurers have insufficient data to fully understand the risks in global supply chains
QBE rolls out algorithmic underwriting capability
Insurer’s British Marine yacht P&I becomes the first live product
US ease-off on Russia sanctions will make no difference to insurers
Nearly all shipowners and marine insurers will still have to stick to UK and EU rules, legal experts say
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
Dire straits
Costlier energy is only one in a pileup of risks facing re/insurers for many months to come
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
LSM names Louth head of aviation
Louth joins insurer from Willis where he was head of broking for global aviation and space
UAE insurance ambitions ‘likely to withstand short war’
A prolonged conflict increases risk of the UAE becoming less attractive to insurance market, analysts warn
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
Acrisure London Wholesale expands into aviation
London market broker hires Marsh's Jonny Rowling to lead new practice
Chubb updates on US Gulf reinsurance plan
US insurance giant will set prices and handle claims, while the federal government will determine access terms
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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