Spain began the new year battling Storm Filomena, a once-in-a-generation weather event that blanketed Madrid in snow and paralyzed the economy. Health workers were stranded, supermarkets shut, and the army was called in. At least four people died. “Now, consider …
BGC Insurance (BGCI) has rebranded as Corant Global Ltd., which will become the holding company for all the insurance interests of BGC Partners Inc., a global brokerage and financial technology company, subject to regulatory consent. Corant will comprise the broking …
The world’s biggest shipping company demanded a more effective military response to surging pirate attacks and record kidnappings off the coast of West Africa. The number of attacks on vessels globally jumped 20% last year to 195, with 135 crew …
Zurich Insurance Group will drop out of Russia’s Nord Stream 2 project in the face of looming U.S. sanctions against European companies that support construction of the $11 billion gas pipeline, two sources familiar with the situation said. The U.S. …
AXIS Capital Holdings Ltd. said it won’t insure oil and gas projects in the Arctic National Wildlife Refuge, becoming the first North American underwriter to make the commitment after pressure from native Alaskans and environmentalists. The move follows similar pledges …
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced the appointment of Richard Brown to lead a new team focusing on property business through retail distribution channels in the UK, Europe and selected …
Insurers, policyholders and industry observers have issued comments on the UK Supreme Court’s ruling that insurers should pay small businesses for many business interruption claims from the COVID-19 lockdowns. The UK Supreme Court dismissed appeals by six insurers – Hiscox, …
A UK Supreme Court insurance judgment substantially in favor of policyholders will be a “massive boost” for British businesses currently suffering from a third government lockdown, the Hiscox Action Group policyholder group said on Friday. The court ruled earlier that …
Small businesses, from restaurants to nightclubs and wedding planners to beauty parlors, on Friday won the right to insurance payouts after Britain’s highest court ruled many policies should cover losses caused by coronavirus lockdowns. Six of the world’s largest commercial …
NFP, a New York-based insurance broker and consultant, announced the acquisition of EdgeHill Insurance Brokers Ltd., in a transaction that closed on Dec. 16, 2020. Financial details of the acquisition were not disclosed. EdgeHill, a P/C brokerage firm based in …
