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...The move would cement the group as one of the biggest underwriters in the London market. This year, the company will write around £2bn of business within Lloyd’s itself....
...The UL network traces its roots to a late 19th century effort to help insurance companies save money by testing electrical products for fire risk....
...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
...In the filing, IAG said that Lex Greensill, the Australian financier who ran the group, approached its key underwriter, Greg Brereton, in 2018 to propose an arrangement that would allow its German banking...
...The former US president’s team has spent “countless hours negotiating with one of the largest insurance companies in the world”, the lawyers wrote in a filing, citing a broker they hired, but have concluded...
...Annual premiums are now soaring as underwriters try to catch up with cost inflation, putting pressure on consumers....
...The “representations and warranties” insurance policy that JPMorgan took out for the Frank deal applies in cases of fraud and the bank has filed a claim with the underwriter, the people familiar with the...
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Insurance group Zurich has accused financier Lex Greensill, steel magnate Sanjeev Gupta and certain of their companies of a “conspiracy” to deceive its underwriters and create sham debts....
...a particular challenge for underwriters....
...In response, the consultancy expects home insurance prices to rise by 36 per cent over the two-year period....
...Brokers and underwriters say 2023 will be a record year for tax insurance, after the number of companies seeking to purchase policies hit a new high and the money available to cover unfavourable rulings...
...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....
...This was likely to “push into pricing for 2024”, he added, though how significantly will depend on underwriters’ judgment as to whether the heightened storm activity requires the longer-term trend to be...
...One person familiar with the market negotiations said there was “frustration” among underwriters at the latest cancellation provisions....
...AI has already been used in the sector, for example in analysing claims, but the negotiation of specialist commercial insurance contracts — where underwriters provide policies covering against everything...
...The IRA’s bombing campaign, combined with a general pullback from reinsurers after US hurricane losses, had created a market failure in terrorism insurance as underwriters held back from offering cover....
...Last month, retailer John Lewis said it had stopped selling insurance for electric vehicles after Covea, its underwriter, withdrew cover while it reassessed the cost of EV repairs — a move confirmed by the...
...Financials Acquisition Corp, a special purpose acquisition company, said on Monday it had terminated a plan to combine with a newly created entity, London Innovation Underwriters, after the latter received...
...The payout ranks among the largest for sexual discrimination at a City company....
...Lloyd’s said the agreement with Chinese insurance company Ping An, which has owned the building for a decade, will allow it to continue its renovation of workspaces and make further refurbishments, including...
...Indeed, John Lewis has suspended sales of its EV policies by request of French underwriter Covéa as it reassesses the cost of repairs....
...supply chain finance company had should pay out....
...Additional reporting by Ian Smith, Insurance Correspondent...
...As an underwriter you’re more comfortable putting on risk positions.”...
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