Markets/Coverages: Mosaic Adds Litigation Liability Cover to Professional Lines Offering March 23, 2023 Mosaic Insurance has launched litigation liability coverage, offering critical financial protection to policyholders against the risk of adverse legal costs...
Long-Term Drought in Spain Expected to Bring More Heatwaves, Wildfires March 23, 2023 By Ciaran Giles MADRID (AP) – Spain has officially entered a period of long-term drought, owing to high temperatures and low rainfall over...
Lloyd’s of London Swings to 2022 Pre-Tax Loss on Investments but U/W Profits Up March 23, 2023 Lloyd’s of London swung to a pre-tax loss in 2022 and took writedowns on its fixed-income investments, it said on...
Japanese Shipping Firm Seeks Government Support for Russia Insurance Risk March 23, 2023 By Shoko Oda and Tsuyoshi Inajima Major Japanese shipping company Nippon Yusen KK is seeking a government guarantee to insure vessels at risk from Russia’s war...
Oil Spills and Near Misses: Growing Numbers of Ghost Tankers Ship Sanctioned Fuel March 23, 2023 By Jonathan Saul An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near...
People Moves: Specialty MGA Nirvana Taps Sompo’s Mannsdorfer for European Underwriting; Verlingue Hires Hiscox’s Bethell as Head of Private Clients March 22, 2023 This edition of International People Moves details appointments at media, tech and cyber MGA, Nirvana, and the broker Verlingue. A...
Chubb Announces Climate-Focused Underwriting Standards for Oil and Gas Extraction March 22, 2023 Chubb Ltd. announced new underwriting criteria for oil and gas extraction projects that will require clients to reduce methane emissions,...
Natural Catastrophes Cost Insurers $125 Billion in 2022: Swiss Re March 22, 2023 By L.S. Howard Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according...
EU Proposes Clampdown on Companies Using Misleading ‘Green’ Labels March 22, 2023 By Kate Abnett The European Commission proposed rules on Wednesday that would require companies in Europe to back up climate-friendly claims about their...
Commerzbank Executive Wins £300,000 in Sex Discrimination Suit March 22, 2023 By Katharine Gemmell A Commerzbank AG manager won more than £300,000 ($366,650) in a sex discrimination lawsuit following a long-standing legal battle with...