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...All this data combined is used to decide whether to offer insurance cover and at what price....
...Beazley hoped, he added, to scale this “new tool” to eventually provide billions of dollars worth of reinsurance cover....
...programme at Lloyd’s....
...Childlessness, wrote the urbanist Richard Florida in 2019, “reflects how certain neighbourhoods come to specialise in certain kinds of residents by income and stage of life”....
...Lloyd’s of London underwriter Beazley, which raised fresh capital this month to take advantage of the firmer market, forecast property reinsurance could be 50 per cent more expensive next year....
...Underwriters have defended the new guidance as an attempt to bring clarity to what is, in insurance terms, still a relatively young market: the first cyber policy written at Lloyd’s was in 1999....
...A trade body representing more than 350 underwriters and brokers in London’s specialist insurance market has called on UK policymakers to use Brexit to boost the sector’s competitiveness and bring in foreign...
...Since the Merck ruling suggests that these attacks may not be considered sufficiently “warlike” to fall under existing war exclusions, the Lloyd’s bulletin requires underwriters to start explicitly excluding...
...While they typically operate at lower temperatures than gas boilers, higher-temperature models have recently been developed that may be more compatible with certain types of radiator....
...In the case of Iran, Tokyo began to offer sovereign guarantees for Japanese vessels carrying Iranian oil. India granted permission for ships to enter its ports covered by certain Iranian underwriters....
...“Even climate change is easier to model than war-related activities,” Enoizi notes. “The average underwriter can’t know what a nation-state is capable of.”...
...Shares at Lloyd’s underwriters such as Lancashire and Beazley — specialists in exposed areas such as war and political risk — have fallen sharply in recent weeks....
...Is that sort of relevance of the peace process obvious day to day in Northern Ireland, or do you actually have to be of a certain age?...
...It is the broker’s job to find insurers to cover the risks of a particular client, and the underwriter’s to choose which to accept and at what terms....
...Graeme Newman, chief executive at cyber underwriter CFC, thinks they will need to be on their guard: “I suspect we will see an increase in criminal activity at some point, as sanctions continue to starve...
...Aggregate pre-tax profit at Lloyd’s, where underwriters agree deals with brokers to cover all manner of risks, was £1.4bn in the first half of 2021, compared with a £400m loss in the same period last year...
...cover in England less long....
...If you like the podcast, we’d recommend subscribing. You can find it through all the usual channels to receive episodes as soon as they’re released....
...Underwriters privately argue that brokers can use their scale not only to push up commissions but to pressure underwriters to take on certain risks, or pay certain claims....
...Drop me a note at money@ft.com or DM me on social media. I’m @ClaerB. We’re especially keen to hear from people who are looking to clean up their financial plans in the new year....
...Sebastian Payne Well Robert, on that very cheerful note, that’s it for the last time for this episode of Payne’s Politics. If you like the podcast, then please do subscribe and keep subscribing....
...estimates that 1.9m people rely on notes and coins for nearly every transaction....
...For more summer statement analysis let’s turn to the Institute for Fiscal Studies: That pretty much covers it. Boohoo’s now down 50 per cent in three days....
...The 2002 law addressed the problem of insurers refusing to offer policies to cover terrorism because they struggled to obtain reinsurance to cover their own risks....
...reading until you get to a certain age and find your eyelids drooping disturbingly fast)....
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