entertainment insurance News

Introducing Rebranded EverSports & Entertainment From Everest Insurance

Everest Insurance announced that its sports, leisure and entertainment division, previously known as Specialty Insurance Group (SIG ), has been rebranded as EverSports & Entertainment Insurance. EverSports & Entertainment Insurance will continue to offer primary and excess liability, commercial automobile, …

Pet Insurance Outshines Travel, Other Inland Marine Coverages Cut by COVID: AM Best

The U.S. inland marine insurance segment experienced a “significant downturn in profitability” in 2020, with its loss ratio deteriorating by nearly 16 percentage points amid the COVID-19 pandemic, according to an AM Best report. The Best’s Market Segment Report, “Significant …

How SpottedRisk and TigerRisk Tamed ‘Live Cat’ COVID Event for Entertainment Insureds

In the early months of the pandemic last year, brokers just couldn’t place insurance for the entertainment industry. In late February 2020, underwriters began excluding communicable disease from all of the underlying production insurance policies. No insurer wanted to touch …

Furtschegger Appointed Global Head of Entertainment Line of Business at AGCS

Michael Furtschegger has been appointed as global head of Entertainment at Allianz Global Corporate & Specialty (AGCS), reporting directly to Dr. Renate Strasse, AGCS SE board member and chief underwriting officer specialty. Based in Munich, Furtschegger has led the global …

If Tokyo Olympics Canceled, Loss for Insurers Would Be ‘Mind-Blowingly’ Big

LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are …

Hollywood’s Insurer Braces for Claims Due to COVID-Related Movie, TV Shutdowns

Allianz SE, Europe’s largest insurer, is bracing for a flood of claims after movie and television studios were forced to curtail production during lockdown. A unit of Allianz, which says it’s the largest insurer of Hollywood studios, has set aside …

British Theatres, Concerts Say Shows Will Go on Only With Insurance Help

British theaters and live music venues say the show will only go on if the government provides a financial backstop, as the COVID-19 pandemic means they can no longer get commercial insurance. While venues for indoor live performances are not …

SpottedRisk Acquires Completion Bonds Agency Media Guarantors

Entertainment insurance provider SpottedRisk has acquired Media Guarantors, a specialized managing general underwriter focused on completion bonds for the film industry. West Hollywood, Calif.-based Media Guarantors, launched in 2018, has been a subsidiary of Cast & Crew, a payroll, human …

Tolley to Lead Marsh’s New Sport, Entertainment & Media Group in UK, Ireland

Global insurance broker Marsh has created a dedicated Sport, Entertainment & Media (SEM) industry group in the United Kingdom and Ireland. Led by global events specialist Richard Tolley, the group brings together 60 client management, technical, placement and risk management …

Markel International Exits Personal Accident, Contingency Insurance on COVID-19 Impact

Markel International, the London-based specialist insurer and division of Markel Corp., has announced its wholesale business will now focus solely on the entertainment book of business within its personal accident, contingency and entertainment (PACE) portfolio. As a result, with immediate …