Markets/Coverages News

Lloyd’s Insurers Launch Asia Political Risk Consortium

Three Lloyd’s insurers have joined forces to form a Political Risk Consortium in Asia, offering increased capacity for a wide range of political and contract frustration risks. Beazley, Chaucer and Talbot will work collectively to provide large scale capacity of …

FM Global Includes Top 3 Business Risks in Global Resilience Index

FM Global has expanded its Global Resilience Index to include insights around three of the top risks facing businesses: cyber attack, natural hazards and supply chain failure. The interactive, online index ranks 130 countries and territories by their enterprise resilience …

TMK Launches Visual Effects, Post Production Media Cover

Tokio Marine Kiln (TMK), the London-based specialist insurance business, announces the launch of visual effects (VFX) and post production media insurance. TMK said its post-production media insurance offers flexible cover for companies specializing in online or offline editing and digital …

Ironshore Raises Capacity for M&A Cover, Tax Consortium Launched

Ironshore International’s Mergers & Acquisitions and Tax Insurance unit has enhanced its consortium programs to meet client and broker demand for larger, streamlined limits. Ironshore will increase the capacity for its Mergers & Acquisitions Consortium to £100 million ($129.8 million), from …

Underwriting Agency, CFC, Partners with Kidnap Response Expert EOS Risk

Lloyd’s managing general agency CFC announced it has formed a partnership with risk management and security consultant, EOS Risk. EOS Risk joins red24 and S-RM on CFC’s panel of security companies that specialize in global kidnap and extortion incidents. “Highly …

RSG Underwriting Managers Forms Marine Consultancy, Claims Firm

RSG Underwriting Managers (RSGUM) has formed Smooth Waters, LLC, an independent marine insurance consultancy and claims adjusting company and part of RSGUM’s growing marine practice. Smooth Waters, LLC, serves as a consulting and claims adjusting company for the energy and …

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 …

PERILS Releases European Windstorm Catalogue (1979-2015)

PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has released a storm catalogue containing the gust footprints of more than 200 of the largest European windstorms from the period 1979 to 2015. The windstorm catalogue was produced …

Sompo Develops Nat Cat Model for NW Australia Offshore Oil & Gas Installations

Sompo Japan Nipponkoa Insurance Inc. (SJNKI) and Sompo Canopius AG are launching a natural catastrophe risk model for north-west Australia offshore oil and gas installations. The model development was carried out by Sompo Risk Management & Health Care Inc., which …

The Hartford Launches Risk Management Platform For Large, Midsize Businesses

The Hartford has released a new risk management information system (RMIS) to address the evolving data needs of its largest commercial customers who are most at risk for loss. The new system – TREO | Track Risk. Explore Opportunities. – …