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Cyber Risks, Risk Management

European cyber insurance market now more friendly, says Marsh

June 20, 2024

Via: Reinsurance News

The European cyber insurance market has become much more friendly, with increased capacity per layer, significant overall capacity growth, removal of coverage restrictions, and more enhancements and innovative coverages available, according to Macarena Bandres, Cyber Placement Leader at Marsh Europe. […]


InsurTech

Appian collaborates with PwC UK to bring innovative insurance solutions

June 19, 2024

Via: Reinsurance News

Appian has recently partnered with PwC UK to enhance its ability to deliver innovative services aimed at streamlining processes, improving customer experiences, and boosting operational efficiency for insurance companies on the Appian Platform. PwC serves over 4,000 insurance clients worldwide […]


InsurTech

Fitch upgrades German non-life insurance sector outlook to ‘improving’

June 18, 2024

Via: Reinsurance News

Fitch Ratings, a financial analysis firm operating out of Frankfurt and London, recently announced a notable change in its evaluation of the German non-life insurance sector. The outlook has been elevated from ‘neutral’ to ‘improving,’ driven by expectations of heightened […]


News

Insurers continue to face capital challenges: Aon

June 18, 2024

Via: Reinsurance News

Aon, a global insurance and reinsurance broking group, has released its latest capital poll, highlighting the capital challenges and growth prospects for insurers. The challenges faced in 2023 significantly reduced the financial buffers that many insurers previously benefitted, leading to […]


Risk Management, Trends

Proactive risk management key for 2024: Gallagher

June 17, 2024

Via: Reinsurance News

(Re)insurance broking group Gallagher’s new report highlights the necessity for businesses and communities to adopt proactive risk management strategies, in light of global uncertainties in 2024. The year is marked by the potential for civil unrest, terrorism, and political violence […]


Brokers

Broker Clear Group Buys UK Credit Insurance Specialist Rycroft Associates

June 14, 2024

Via: Insurance Journal

The Clear Group, the London-based independent broker, announced it has acquired the book and assets of credit insurance broker Rycroft Associates LLP and its sister company and appointed representative, Inspire Credit Management Ltd., a delegated authority specialist. The company was […]


InsurTech

CFC launches Carbon Cancellation Insurance

June 13, 2024

Via: Reinsurance News

CFC, a specialist insurance provider in emerging risks and cyber insurance, has launched its second insurance product for buyers of voluntary carbon credits. The new Carbon Cancellation Insurance safeguards against financial and management risks if purchased carbon credits are cancelled […]


InsurTech

Jensten acquires Chris Knott Insurance Consultants

June 13, 2024

Via: Reinsurance News

UK broker and underwriter Jensten has bolstered its London and South East presence through its acquisition of Chris Knott Insurance Consultants, a broker that specialises in both personal and commercial lines. Subject to regulatory approval, the deal will reportedly introduce […]


InsurTech

Commercial property insurance market proving to be more stable & capitalized, says USI

June 12, 2024

Via: Reinsurance News

Following on from last year’s challenging property insurance market, 2024 is proving to be a “more stable and capitalized market,” according to USI Insurance Services. In their latest Commercial Property & Casualty Market Outlook Mid-Year Addendum, USI notes that the […]


Brokers

Canadian Broker Axis Insurance Gets Investment From PE Firm, Lee Equity Partners

June 11, 2024

Via: Insurance Journal

Axis Insurance Managers Inc., the Vancouver-based independent specialty insurance brokerage, announced it has received a significant growth investment from Lee Equity Partners LLC, a middle market private equity firm that specializes in the financial services and healthcare industries. The partnership […]


InsurTech

NSM Insurance acquires Strategic Underwriters International

June 11, 2024

Via: Reinsurance News

NSM Insurance Group, a global specialty insurance provider, has completed the acquisition of Pennsylvania-domiciled, Strategic Underwriters International (SUI), a managing general agent (MGA) in the casualty facultative reinsurance marketplace. MergerSUI offers facultative casualty reinsurance for several lines of business, including […]


Risk Management, Trends

LMA revises marine insurance policy clauses

June 10, 2024

Via: Reinsurance News

The Lloyd’s Market Association (LMA), representing insurers and reinsurers in the London insurance market, has issued revised versions of the hull and cargo oil price cap clauses. lma-lloyds-logoThese updates simplify the language to accommodate recent modifications in the oil price […]


News

Carolina Insurance Agent Charged With Forging Life Insurance Policies on 16 People

June 7, 2024

Via: Insurance Journal

North Carolina authorities have charged a Battleboro insurance agent with 74 counts after they said he forged life insurance applications for 16 people. Jonathan Michael Vlasak, 35, a licensed producer qualified to sell property, casualty, life and accident insurance, took […]


News

Brazilian Butt Lift Clinics Must Now Carry Liability Insurance Under New Florida Law

June 6, 2024

Via: Insurance Journal

Practitioners of Brazilian butt lift surgery, repeatedly in the news after infections and at least two patient deaths in south Florida, must now obtain medical malpractice liability insurance, thanks to a bill signed into law last month. House Bill 1561, […]


Cyber Risks, Risk Management

CFC launches upgraded cyber risk heat map focused on key exposures

June 6, 2024

Via: Reinsurance News

CFC, a specialist insurance provider, has updated its cyber risk heat map to offer more detailed insights into key exposures across various industry sectors such as construction, education, healthcare, transport, and logistics. Drawing from CFCs own claims data and external […]


News

CEA renews $3.73bn of reinsurance so far in 2024

June 5, 2024

Via: Reinsurance News

The California Earthquake Authority (CEA) has renewed $3.73 billion of reinsurance in 2024 so far, having secured almost $1.2 billion in new protection at the April 1st renewals. At the end of 2023, the earthquake insurer had $9.1 billion of […]


Brokers

Broker Verlingue Launches Dedicated Construction Practice in UK

June 4, 2024

Via: Insurance Journal

Chartered insurance broker Verlingue Ltd. has established a new dedicated construction practice to serve the UK’s fast-growing construction industry. The practice, led by Harvey Monk, sales director South, brings together a team of specialists from across Verlingue in one streamlined […]


InsurTech

Swiss Re extends partnership for connected life insurance underwriting

June 4, 2024

Via: Insurance Business

Global reinsurer Swiss Re has extended its partnership with business automation specialist Appian for the expansion of its Connected Underwriting Life Workbench solution in select countries in Asia-Pacific and Europe, the Middle East, and Africa (EMEA). Launched in North America […]


News

Broadstone unveils Insurance, Regulatory & Risk Advisory division

June 3, 2024

Via: Reinsurance News

Broadstone, the independent pensions, employee benefits, investment and insurance consultancy, has launched its standalone Insurance, Regulatory & Risk Advisory division. According to the announcement, this proposition will service the life and non-life insurance sector including Lloyds and the London market, […]


InsurTech

Automated EHR Summarizer, an effective & efficient tool for life insurance underwriting: Munich Re

May 31, 2024

Via: Reinsurance News

In a recent interview with Reinsurance News, June Quah, Vice President, Integrated Analytics, Munich Re, Canada, discussed the reinsurance giant’s newest digital solution, Automated EHR Summarizer which is set to ensure efficient and accurate use of Electronic Health Record (EHR) […]