financial institutions coverage News

UK MGU StartPoint Taps Liberty Specialty’s Selby to Lead Financial Institutions Team

London-based managing general underwriter StartPoint Executive Risks has appointed Mark Selby as head of its newly created financial institutions underwriting practice. The FI practice is a complement to the current management liability underwriting practice and a next stage in the …

CFC Underwriting Offers Cover for Financial Institutions, Investment Managers

Specialist insurance provider, CFC Underwriting, has launched its first insurance solution for financial institutions. CFC’s Investment Management Insurance (IMI) policy is the first in a suite of products designed to address the challenging risk environment faced by investment managers. Combining …

Nexus Acquires D&O and Financial Institutions MGA Apsley Specialty

Independent specialty managing general agent Nexus Group announced it has completed the acquisition of Apsley Specialty Ltd., a registered Lloyd’s coverholder. Financial details of the transaction were not disclosed. Established in 2012, Apsley Specialty is a London-based specialist directors & …

BHSI Launches Financial Institution Professional Indemnity Insurance in Asia

Berkshire Hathaway Specialty Insurance Co. (BHSI) announced it has introduced Financial Institution Professional Indemnity (FIPI) insurance in Asia. “Financial institutions are seeing an increase in both the frequency and severity of professional indemnity claims,” said Scotland Walsh-Riddle, head of Executive …

Sompo International to Acquire Novae’s Financial Institutions’ Renewal Rights

Sompo International, a Bermuda-based specialty provider of property and casualty re/insurance, announced its London market insurance platform has agreed to acquire Novae Syndicates Ltd.’s financial institutions’ (FI) renewal rights. The purchase, which excludes emerging markets business, encompasses a portfolio that …

Beazley Offers ‘Seamless’ Financial Lines Cover for Crime, PI & Data Breaches

Beazley has unveiled two sets of financial lines’ products for organizations domiciled outside the United States. One is designed for the specific needs of financial institutions and the other provides comprehensive management liability cover for traditional and emerging risks, the …

Ironshore’s Pembroke Agency Adds Cyber Coverage to Financial Institution Crime Policies

Ironshore’s Pembroke Managing Agency Limited has updated its Financial Institutions Crime program to include cyber fraud and cyber extortion. Pembroke’s crime coverage for Financial Institutions indemnifies a company for direct financial loss resulting from internal and external fraud incidents. The …