Hints and tips:
...Howden, the UK insurance broker, has secured £500mn of insurance capacity from a group of Lloyd’s of London firms for a newly launched division that aims to turn tech start-ups into mini underwriters....
...Civil unrest has caused more than $10bn of insurance and reinsurance losses across the globe since 2015 compared with less than $1bn from terrorist attacks, spooking underwriters and fuelling a surge in...
...Liberty Specialty Markets....
...The Mondelez case is still pending, but Merck won its case in December, when a New Jersey court found that the insurers could not exclude NotPetya from their coverage because the war exclusion “applied only...
...“I expected Dana White to say ‘I’ll have one drink and dinner is on me’, and leave,” says Dan Zampella, a New Jersey insurance underwriter who’d spent $30 on raffle tickets....
...Cinven’s interest in the company was first reported by Sky News....
...He said his company was referring new business to a competitor under a temporary arrangement....
...Underwriters are also unsure how to assess the new field....
...Brexit adds another layer of uncertainty as underwriters, faced with the loss of passporting rights from the UK capital, are setting up new bases in other parts of the trading bloc....
...ReAssure specialises in buying life insurance companies that are no longer open for new customers....
...Insurance buyers are also wary of the market. “There is sometimes a view that cyber insurance doesn’t work,” said Sarah Stephens, head of cyber at insurance broker JLT Specialty....
...Yet Berkshire has been making an aggressive push into AIG’s turf, poaching several of its executives to run the recently established Berkshire Hathaway Specialty Insurance....
...Insurance Insider first reported that the brokers had been raided, adding that the airline business often shares information between brokers and underwriters, including the value of fleets and specific hulls...
...Interest began to recover after the Federal Deposit Insurance Corporation eased its rules for new banks almost a year ago....
...It was created after the introduction of the US Affordable Care Act, known as Obamacare, and its services are available in New York and New Jersey....
...Insurance company and Lloyd’s underwriter Beazley is seeking shareholder backing to move back to the UK six years after it relocated to Ireland....
...Alastair MacLean, contingency underwriter at insurance agency Ark Syndicate, adds: “The growth in social media means that news and stories can spread very quickly....
...Lloyd’s is a market, not a company....
...Underwriters say that they had a surge in enquiries for political risk insurance after this summer’s market crash in China....
...Berkshire Hathaway Specialty Insurance, the division which the renowned billionaire investor established last year to sell property, liability and other types of cover to companies, has been granted permission...
...New York and New Jersey....
...A tidal surge along the New York and New Jersey coast amplified Sandy’s effects, but it was not The Big One....
...The port of New York and New Jersey is the busiest container port on the US east coast....
...In the wake of the chaos, a new product was launched in 2008 by the Kenya-based Africa Trade Insurance (ATI): political violence and terrorism insurance....
...“This deal was nothing to do with diversification from specialty lines for us,” he said. “In their core areas we already have underwriters and they only write £220m of business while we write £1.2bn.”...
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