Agents & Brokers News

Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,” insurers say. Cyber insurance can be expensive to buy and is not …

Canada’s Rogers Insurance Partners with Megson FitzPatrick

Rogers Insurance Ltd. announced it has partnered with Victoria, British Columbia-based Megson FitzPatrick Inc., beginning with the purchase of a minority stake in Megson FitzPatrick. The financial details of the purchase were not disclosed. “This partnership strengthens both organizations tremendously. …

JLT Re Appoints Lockton’s Barden and Warner to Aviation Team

JLT Re, the London-based reinsurance broker and consultant, has appointed Graham Barden and Jon Warner as partners in its aviation team. Barden has over 40 years of experience in the aviation market having worked in both reinsurance and insurance. He …

Big ‘I’ Virtual University’s Boggs Gets Award for Reinsurance Research

Big “I” Virtual University Director Christopher “Chris” J. Boggs has received a prestigious award in London for a paper he and a group of industry professionals authored about the disconnect between information sought by reinsurers and information they commonly receive …

Aon Names Hogg as Leader of Cyber Solutions, CEO of Stroz Friedberg

Aon plc announced that Jason Hogg has joined the firm as leader of Aon Cyber Solutions, responsible for the growth strategy of the firm’s solutions that help clients address and manage cyber risk. He will also serve as chief executive …

Aon Buys International Benefits Brokerage Portfolio of Mayfair Group

Aon plc announced it has completed its acquisition of the international health and benefits brokerage portfolio of Mayfair Group, a solutions provider to Indian multinational companies. Terms of the transaction were not disclosed. Aon now will assume responsibility for all …

Willis Towers Watson Names Bernstein as Head of Broking, Great Britain

Clyde Bernstein has been appointed as the head of Broking – Great Britain (GB), for Willis Towers Watson’s Corporate Risk and Broking division. He reports jointly to Philip Smaje, global head of Broking, and Alastair Swift, head of Corporate Risk …

Aon Buys Provider of Talent Measurement & Psychometric Assessment

Aon plc announced it has acquired Hamburg, Germany-based “cut-e”, a specialist in online talent assessments. Financial terms of the transaction were not disclosed. “At a time when the global workforce is shrinking, workforce engagement is on the decline and turnover …

Complex Solvency II Reporting Puts Off Insurer Investors: Willis Towers Watson

The insurance sector is at risk of being further marginalized by investors because performance reporting has become more complicated as a result of Solvency II, according to a report published jointly by Autonomous Research and Willis Towers Watson. Based on …

Aon Sells Outsourcing Platform to Focus on Data, Analytics Investments

Aon announced it has completed the sale of its benefits administration and HR business process outsourcing (BPO) platform to private equity funds affiliated with New York-based Blackstone for a cash consideration of $4.3 billion at closing, and an additional consideration …