Agents & Brokers News

Workers’ Compensation Income Benefits Fall Short for Injured Workers: WCRI

Adequacy of income benefits is one of the long-standing concerns about the performance of workers’ compensation systems. However, there is little known about whether income benefits (also called wage-loss or indemnity benefits) provide adequate financial support for injured workers. According …

Ed Broking LatAm Appoints Hernandez as Chairman; de Freitas Named CEO

Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointments of Mike Hernandez to the role of chairman and Agustin de Freitas as CEO of Ed Broking LatAm. They take up their roles with immediate effect. Hernandez, who previously …

Arthur J. Gallagher & Co. Buys UK-Based Total Reward Group

Arthur J. Gallagher & Co., the insurance broker and risk management service firm, has announced the acquisition of Total Reward Group in Sevenoaks, England. Terms of the transaction were not disclosed. Founded in 2005, Total Reward Group is a consultancy …

Excess Capacity Continues to Drive Rate Cuts at June Renewals: JLT Re Report

Reinsurance rates fell for the sixth consecutive year at the June 1, 2017 renewals, according to a market commentary published by JLT Re. JLT Re cited its Risk-Adjusted Florida Property-Catastrophe (ROL) Index which fell by 5.1 percent this year. This …

Marsh Launches Non-Payment Insurance for Boeing Aircraft Financing

Marsh has launched the Aircraft Finance Insurance Consortium (AFIC), a non-payment insurance product designed for banks and capital market investors that are funding new aircraft purchases from Boeing. Available exclusively through Marsh, AFIC provides an alternative aircraft finance insurance product …

Guy Carpenter Taps Gen Re’s van Oort as Managing Director, Benelux Operations

Guy Carpenter & Co. announced the appointment of Hans van Oort from General Reinsurance Co. as managing director, Guy Carpenter Benelux, effective Dec. 1, to further strengthen the regional team. He will be responsible for continuing to enhance Guy Carpenter’s …

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 …