Lloyd’s of London is in talks with the United Nations over providing insurance cover for Ukrainian grain shipments if a new Black Sea corridor deal can be reached, its CEO John Neal told Reuters on Thursday. NATO member Turkey is …
The worldwide impact of cybercrime on business is predicted to balloon to $10.5 trillion by 2025, but boardroom focus on cyber risk appears to be diminishing, according to a Beazley risk and reliance report. “The perceived threat of cyber risk …
Amwins Global Risks, the international arm of global specialty insurance broker Amwins, announced the launch of Amwins Amplify, a new automated follow-form facility, led by Beazley’s Smart Tracker Syndicate 5623. Amplify is initially covering property before adding cross-class diversification, with …
The rollout of the Lloyd’s cyber war exclusions has received considerable criticism for the chaos and confusion caused in the weeks leading up to the March 31st effective date. But there are some certainties to keep in mind about the …
Specialist insurer Beazley has announced a refreshed Primary U.S. Public D&O wording, available both in the London Market and on a Surplus Lines basis in the U.S. Beazley said it has taken the step to simplify their wording, which includes …
Insurers are about to pay state-owned Bangladesh Shipping Corp. (BSC) $22.48 million for its vessel that was hit by a missile during fighting in Ukraine, two officials involved said on Tuesday. The expected settlement is one of the first shipping …
Specialist insurer Beazley has launched a new private equity liability insurance product, designed to focus on the inherent directors and officers (D&O) risks within the long-term lifecycle of portfolios held by private equity firms. Across the full lifecycle of investments, …
Incidents of fraudulent instruction scams were up 13% in 2022, according to specialist insurer Beazley’s new Cyber Services Snapshot report. Under fraudulent instruction scams, criminals use hacking and phishing techniques to accumulate information that allows them to send plausible-looking requests …
Specialist insurer Beazley has launched the global insurance market’s first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with the potential for additional tranches to be released …
Cyber remains a top concern, but business leaders may be overconfident about their resilience against the threat, according to new research from Beazley. Cyber was chosen as the No. 1 technology risk for 28% of UK and U.S. respondents in …
