Lloyd’s Expects US$4.3B in COVID-19 Claims – On Par with Costs of 9/11 Terror Attacks May 14, 2020 By L.S. Howard Lloyd’s of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result...
Hub Acquires Quebec’s Vestas Financial Services May 13, 2020 Global insurance broker Hub International Limited has acquired Vestas Financial Services Firm Inc. Located in Montreal, Quebec, Canada, Vestas is...
Coronavirus Health Effects Could Last for Years for Some Survivors May 13, 2020 By Lisa Du More than one million people around the world have been deemed recovered from the coronavirus, but beating the initial sickness...
UK Insurer Brit and Google Collaborate to Launch 1st Fully Digital Lloyd’s Syndicate May 13, 2020 Brit Ltd. announced plans to launch Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, in collaboration with Google...
UK Government to Create Temporary Reinsurance Backstop for Trade Credit Insurance May 13, 2020 By L.S. Howard The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit...
Everest Insurance Taps Patel from AIG Europe as UK Head of Transactional Risk May 13, 2020 Everest Insurance announced the appointment of Sujal Patel as the UK Head of Transactional Risk for Everest Global Markets, which...
Insurers Zurich and Chubb Raise Cover for Canada Oil Sands Pipeline: Filings May 13, 2020 By Carolyn Cohn, Simon Jessop and Noor Zainab Hussain Major insurers Zurich and Chubb increased their insurance cover for a Canadian oil sands pipeline over the last year, Canadian...
French Mutual Covéa Scraps $9 Billion Purchase of PartnerRe from Exor May 12, 2020 French insurer Covéa has walked away from its planned $9 billion purchase of PartnerRe, the Bermuda-based reinsurer owned by Exor,...
Insurers Must Re-Think Pandemic Response or Risk Reputational Damage: UK’s Airmic May 12, 2020 Airmic, the UK association for risk and insurance professionals, has urged the insurance market to adopt a more responsible and...
UK Financial Services Firms Weigh Options for Post-Coronavirus Work Arrangements May 12, 2020 By Huw Jones Many of the City of London’s bankers and traders will be working from their kitchens or bedrooms for at least...