One80 Intermediaries Acquires Canadian MGA, Strategic Underwriting Managers August 12, 2020 One80 Intermediaries, a Boston-headquartered wholesale broker, program manager, and insurance aggregator, announced it has acquired Strategic Underwriting Managers Inc. (SUM),...
Secondary Perils Drive Global Insured Catastrophe Losses of $31B During H1: Swiss Re August 12, 2020 Global insured property losses from disasters were US$31 billion in the first half of 2020, up from US$23 billion during...
Mauritius Seeks Compensation from Owners of Cargo Vessel After Massive Oil Spill August 12, 2020 By Kamlesh Bhuckory Mauritius is seeking compensation from the owners of the cargo carrier that run aground and spilled oil off its coast,...
Australia Detains Cargo Ships for Alleged Labor Violations Related to COVID Lockdowns August 12, 2020 By Aaron Clark, Krystal Chia and Jinshan Hong Australian authorities detained at least two cargo ships for alleged labor violations related to demands from seafarers to be sent...
UK Auto Insurer Admiral Reinstates Special Dividend as Claims Drop During Lockdown August 12, 2020 Insurer Admiral reinstated its special dividend on Wednesday as it reported a jump in first-half earnings, the latest car insurer...
Leading Proxy Advisory Firms Recommend Shareholders Approve Aon, WTW Merger August 11, 2020 Aon plc and Willis Towers Watson announced that two leading proxy advisory firms have recommended that shareholders vote in favor...
Lloyd’s Selects 10 Insurtechs for Its Innovation Accelerator, Focusing on COVID-19 Risks August 11, 2020 The Lloyd’s re/insurance market announced the latest cohort of insurtech disruptors that will join its Lloyd’s Lab innovation accelerator program...
Companies Risk Losing More Than 40% of Annual Profit on Supply Chain Shocks: McKinsey August 11, 2020 By Brendan Murray Companies risk losing more than 40% of annual profit once a decade in a world threatened by trade wars, cyber...
Insured Losses for Europe’s Storm Sabine (aka Ciara/Elsa) Estimated at €1.6B: PERILS August 11, 2020 The industry loss footprint for extratropical cyclone “Sabine” – also known as “Ciara” and “Elsa” – is estimated at €1.61...
Directors & Officers’ Insurance Rates Surge on Fears of Coronavirus Litigation August 11, 2020 By Carolyn Cohn Premiums for directors’ and officers’ liability insurance surged in the second quarter, broker Marsh said on Monday, as insurance underwriters...