Hints and tips:
...But at a private event last month, one executive at the corporation that oversees the market told underwriters that it has not yet seen clear evidence that a warming climate is a major driver in claims costs...
...Tokio Marine & Nichido Fire, which is one of Japan’s largest underwriters of corporate insurance against cyber attacks and a prime target for ransomware gangs, acknowledged to customers last month that it...
...As long as a reputable bank handles the formalities, they don’t care who the underwriters are....
...That and a broad drought in IPOs have made it one of 2022’s top underwriters in US equity markets....
...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....
...Andrew Brooks, chair of the Lloyd’s Market Association — which represents underwriters — said the enforcement action and the levy “send an unequivocal message: bullying, harassment and other forms of inappropriate...
...Hempton also cited the risk held by Japan’s Tokio Marine, which in 2019 acquired IAG’s 50 per cent stake in trade credit underwriter BCC, which had been the main underwriter to Greensill....
...Last year, Liu He, China’s vice-premier, warned there would be “zero tolerance” for corporate malfeasance, and regulators are pressing underwriters, domestic rating agencies and auditors to disclose risks...
...(Institutional Investor) Out of office For the corporate set, the trillion-dollar wellness industry is hawking magic mushroom retreats as a truly elevated luxury experience....
...BMD was declined by at least 33 underwriters for public liability insurance on the project because of the affiliation with Adani, according to the former’s submission....
...“As Greensill’s broker, Marsh Ltd. sought coverage from insurers, who made their own determinations about what risks to cover,” Marsh said....
...: Carr’s Group (CARR) With profits stable for the first half of the 2021 financial year, the agriculture and engineering company's new chief executive is talking about simplifying the rabbit warren of corporate...
...Clifford Chance has added James Grayer to its US corporate practice as counsel. Grayer was most recently a senior executive at managing general underwriter Concord Specialty Risk....
...The broader corporate world is reassessing Hong Kong’s longstanding status as a neutral arbitration centre....
...“There is an underlying feeling that we are missing something,” said Alastair Swift, head of GB corporate risk and broking at Willis Towers Watson....
...Because when we thought about what type of corporate entity Liberty France Aluminium Holdco Ltd is, we had more questions than answers....
...But analysts said while there was greater leeway for the MoF to designate what makes a foreign investor, skilled navigators would probably still be able to find loopholes in the updated Fefta....
...“Today, Lloyd’s is 5 per cent of the world flow for corporate and speciality insurance,” chief executive John Neal told the Financial Times....
...Lloyd’s is not an insurance company itself, but a market where brokers and underwriters meet to arrange cover for everything from natural catastrophes to cyber attacks....
...The latest report focuses on a second consequence of entitlement among brokers and underwriters: high costs....
...Bermuda has no corporate income tax, which is a big advantage to a reinsurance industry where years with no significant natural catastrophes can be very profitable....
...While revenues fell across all of its business lines, other than the retainer it receives to serve as corporate broker to listed companies, the fall was sharpest by far for the company’s trading business...
...He plans to provide more details on his proposals in May, before consulting with underwriters and brokers in the market and then, depending on the responses to the ideas, putting them into action later in...
...John argues that if Lloyd’s is to have a profitable future, it needs to cut costs and reset the balance of power between the underwriters and the rest of the market....
...One underwriter who works at Lloyd’s welcomed the move. “It’s the right thing to do,” he said....
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