PI News

UK’s PI Insurance Sector Expected to Grow by Almost 6% Annually: Report

The professional indemnity and directors & officers insurance sector has grown constantly since 2012 and is expected to continue the upward trend until at least 2019, according to the findings of a new report by London-based business intelligence company, Timetric. …

AEGIS London Appoints King to Underwrite Global PI Book

Underwriter Martin King has been appointed to help expand AEGIS London’s professional indemnity (PI) capabilities and product offering. King joins from Novae, where he was unit head for PI and directors & officers. King has worked in the insurance market …

R K Harrison Offers Specialist PI Product for Art Market Professionals

London-based R K Harrison Insurance Services (RKHIS), part of the employee-owned insurance broker, R K Harrison Group, has developed a new Professional Indemnity insurance policy for art market professionals. The company described the new product as the first of its …

Insurance Deal Lets India Resume Shipping Iran Oil

India has joined Japan in offering government-backed insurance for ships carrying Iranian crude in order to bypass European sanctions that have nearly halved Iranian oil exports to key markets. The first Indian ship to carry oil from Iran with Indian …

UK’s Pioneer Underwriting to Launch Professional Indemnity Team

Pioneer Underwriting, which conducts business in partnership with Liberty Syndicates, has launched a new specialty unit, Pioneer PI that will commence underwriting on August 1, 2012. The new platform will be a Lloyd’s registered consortium and will write both international …

South Korea Considering Resuming Iran Oil Imports: Gov’t. Sources

South Korea will soon decide on whether to resume Iranian crude imports after Tehran offered to ship and insure the oil to get around the impact of EU sanctions, two Korean government sources said on Friday. The EU oil embargo …

Iran Oil Shipments Skirting Tanker Insurance Ban

Iran is shipping oil to China, its top buyer, despite a row over freight terms, and Japan has taken steps to resume imports in August as Tehran finds ways to get around Western sanctions on ship insurance for its drastically …

Japan Insurers Expand Cover to Boost Iran Oil Shipping Capacity

Japanese insurers are expanding their maritime coverage to allow more domestic tankers to transport Iranian crude, as Tokyo looks to keep oil flowing despite tough Western sanctions, industry sources said on Wednesday. Japan, Iran’s third biggest oil buyer, is expected …

Evolution Underwriting in Deal with Beazley to Develop PI Business in UK

“Broker only” commercial underwriting specialist Evolution Underwriting announced that it has “entered into an exclusive underwriting and distribution partnership with the Beazley Group. Under the terms of the deal Evolution has been appointed to manage and develop Beazley’s professional indemnity …