Markets/Coverages News

U.S. Risk, Aspen Insurance to Offer Specialty Marine Product

U.S. Risk, LLC has formed a strategic alliance with Aspen American Insurance Co., a subsidiary of Aspen Insurance Holdings Limited, to offer a specialty insurance product designed for the marine industry which will provide comprehensive coverage for vessel-assist towboat operators, …

Beazley Joins EbixExchange Accounting Platform

Ebix Europe, the electronic messaging communications specialists for the global re/insurance market, announced that insurer Beazley is the latest carrier to join its EbixExchange accounting platform. Using ACORD standards, the platform adds transparency and accelerates the accounting and settlement process, …

Willis Towers Watson Launches Cyber Aviation Cover with AIG Collaboration

Willis Towers Watson has introduced CyFly, an insurance solution specifically tailored to cover cyber exposure affecting the airline industry. The recent Willis Towers Watson Industry Risk Index identified failure of critical IT systems as the most significant risk facing the …

Insurance Rates for Architects, Engineers Stabilize or Decline in 2016: Survey

Although a slim majority of insurance companies providing architects and engineers professional liability insurance saw their rates stabilize in 2016, nearly one in three experienced modest decreases in rates. That’s according to a new survey by insurance broker Ames & …

UK MGA Plum Launches High Net Worth Home Cyber Cover

Plum Underwriting, the London-based specialist home insurance managing general agent, announced the launch of cyber and data risks cover embedded within high net worth (HNW) and mid net worth (MNW) home insurance products in the UK. Plum’s Home Cyber covers a …

Hanover Stone Practice Aims to Control Workers’ Comp Costs

Hanover Stone Partners, a risk management services firm, has established a dedicated, national practice group to help employers manage workers’ compensation costs. Barry E. Thompson, who has more than 30 years of experience in all areas of workers’ compensation cost …

RMS Expands Range of ‘Cyber-Physical’ Models for Property Insurers

RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the expansion of its range of cyber models to include a new class of “cyber-physical” models. These include a range of cyber attack scenarios that can cause physical damage to …

Beazley Forms ‘Anything Lineslip’ for Hard-To-Place Professional Liability Risks

Beazley has launched the new Anything Lineslip in London offering terms for all U.S. management, professional, cyber and healthcare liability risks. The Anything Lineslip is led by Beazley, supported by a number of other carriers including Antares and ARK 4020 …

FM Global Creates Global Flood Map to Help Businesses Manage Flood Risk

With flooding on the rise around the world, Johnston, R.I.-based FM Global said it has created an interactive Global Flood Map to help companies manage this increasing and potentially costly risk. The Global Flood Map provides business executives with a strategic planning tool, while …

NAS Insurance Expands Cyber Coverage to Personal Lines Market

NAS Insurance has launched a new cyber insurance product that addresses cyber risks to individuals and families through add-on coverage to homeowners’ insurance policies. NAS’ Personal CyberPlus covers cyber bullying, cyber extortion, wire transfer fraud, and breach notification costs. In …