Markets/Coverages News

Allianz Insurance Product Protects Firms Against Clean Energy Price Swings

Microsoft Corp. has helped develop a way to protect corporate buyers of clean power from electricity prices that go up and down with the weather. The company is using a risk-management tool called a volume-firming agreement for almost 500 megawatts …

JBA Risk Management Releases High-Resolution Flood Maps for Florida

Flood specialist JBA Risk Management has rolled out its high-resolution flood maps and associated pricing data for the continental United States starting with the State of Florida. These new maps are designed to enable (re)insurers and others with an interest …

Aon Forms New Ventures Group, Led by Chief Innovation Officer Goland

Aon plc announced it has formed a new unit called New Ventures Group, which is designed to increase Aon’s investment in innovative new businesses. The global unit will identify, incubate and deliver new sources of value for clients, explained an …

AXA XL Launches Standalone Insurance for Workboat Risks

AXA XL’s North America marine insurance business has expanded its coverage options for the marine insurance market with a new policy specifically designed and delivered to address workboat risks. AXA XL’s Workboat policy offers owners workboats standalone hull and liability …

International Marine Underwriters Adds Cyber Coverage to Marine Policies

International Marine Underwriters (IMU), a member of OneBeacon Insurance Group, has expanded its product offering with information risk coverage to address a broad range of cyber incidents including data breach, threat of intrusion or interference with computer systems, damage to …

London Market’s Placing Platform Completes Product Roll-Out with Treaty Reinsurance

The London market’s electronic placing platform, PPL Ltd., announced that the treaty reinsurance class of business went live on the platform today, completing its roll out of products. PPL said its focus will now be on continuous improvement of the …

Berlin Insurtech Startup Simplesurance Sets Sights on U.S. for Future Expansion

Simplesurance founder and CEO Robin von Hein sat down last year with Insurance Journal’s sister publication, Carrier Management, to discuss the company’s strategy. Based on the edge of Berlin’s trendy Mitte district in bright, open offices, Simplesurance is yet another …

Cryptocurrency Theft Soars to $927 Million During 1st Nine Months of 2018: Report

Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927 million in the first nine months of the year, up nearly 250 percent from the level seen in 2017, according to a report from U.S.-based cyber security …

Sompo International Taps Pillion to Lead New U.S. Environmental Insurance Unit

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has established a new business unit to extend environmental liability insurance capabilities to a wider range of industries in the U.S. market. Sompo International will …

Generali Launches Cyber Insurance Function and Cyber Security Subsidiary

Generali has launched a new Cyber Insurance function and the formation of a cyber security company. The Cyber Insurance function will combine a range of cyber insurance solutions with the support of a technology start-up, CyberSecurTech, which is wholly owned …