financial institutions News

CNA Hardy Builds Financial Institutions Team with Goodair & Bazell Appointments

CNA Hardy, a London-based specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced the appointment of Alec Goodair as UK financial institutions (FI) manager and Suzannah Bazell as FI underwriter. Reporting to John Taylor, head of …

BHSI Expands Financial Institutions Cover in Canada; Knight Leads Product Line

Berkshire Hathaway Specialty Insurance (BHSI) announced that it is introducing four new executive & professional lines products for financial institutions and named Andrew Knight as national director of Financial Institutions, Executive & Professional Lines, in Canada. The new products are: …

Nexus Signs 3-Year Capacity Deal with XL Catlin to Write Financial Lines in Asia

Nexus Underwriting, the independent specialty managing general agent (MGA), has signed a three year underwriting capacity deal with XL Catlin in Asia through XL Insurance Co. SE. Through its new branch based in Hong Kong, Nexus Underwriting Asia (HK) will …

Clark to Head New Everest Specialty Unit Targeting Private Equity, Hedge Funds

Everest Specialty Underwriters said it has formed a new division,  Alternative Solution Group, to offers transactional risk insurance as well as professional and management liability insurance on both a primary and excess basis to private equity firms and hedge funds. …

Ironshore’s Pembroke Agency Expands UK Financial Institutions’ D&O Cover

Ironshore’s Pembroke Managing Agency Ltd. has enhanced its directors & officers liability product for financial institutions to reflect U.K. regulation. The new regulation, known as the “Senior Managers Regime,” places greater personal accountability on senior managers of U.K. financial institutions, …

Markel International Launches Fintech Business Protection Cover

Markel International, the London-based specialist insurance subsidiary of Markel Corp., has launched a policy offering comprehensive protection for businesses in the financial technology (fintech) sector, which includes trading platforms, forex platforms and peer-to-peer crowdfunding sites. In financial services businesses, where …

Willis Towers Watson Appoints Financial Institutions Leader for CEEMEA

Willis Towers Watson has appointed Alexander van Kuffeler as regional leader of Financial Institutions in Central & Eastern Europe, Middle East and Africa (CEEMEA). Based in London, van Kuffeler takes up the role with immediate effect. He will focus on …

BHSI Launches Bankers Professional Liability Insurance Program

Berkshire Hathaway Specialty Insurance (BHSI) today launched Professional First Bankers Professional Liability Insurance in the U.S., adding to its executive and professional liability products for financial institutions. Professional First Bankers Professional Liability Insurance offers banks, their executives and employees, coverage …

ACE Group Warns UK SMEs About Higher Fraud Risk in 1st Quarter

Fraud cases are on the rise and the profile of fraudsters is changing to include more young individuals seeking to fund extravagant lifestyles, according to ACE Group. As pressure on bank balances grows after the traditional Christmas excesses, ACE warns …

Aon Report Identifies Key Risks for Financial Institutions in EMEA

Understanding and managing risk is increasingly a critical success factor for financial institutions, according to a report on financial institutions issued by Aon Risk Solutions, the risk management business of Aon plc. Entitled “2014 EMEA Financial Institutions Industry Report,” the …