Markets/Coverages News

AXIS Launches Cyber Center of Excellence to Help Mitigate Cyber Risks

AXIS Capital Holdings Ltd. has launched the AXIS Cyber Center of Excellence, which aims to provide commercial insurance products and solutions for mitigating cyber risks. The AXIS Cyber Center of Excellence is intended to address the more than $445 billion …

Allianz Partners with Drivy in UK to Provide Insurance for Car Sharing Platform

Allianz Insurance has partnered with Drivy (UK) to provide insurance for users of its car sharing platform. Drivy, a car sharing operator, links drivers, who need a car on a short-term basis, with vehicle owners who want to generate extra …

XL Catlin Adds Construction, Renovation Endorsement to Property Insurance Program

XL Catlin has added a Course of Construction (COC) coverage option to its Platinum Property insurance program to help businesses in the U.S. and Canada address construction risks associated with their property expansion and renovation plans. The Platinum Property Policy …

Specialty Insurance Group Launches Online Coverage Portal for Special Events

Specialty Insurance Group (SIG), a unit of Everest Insurance and a member of the Everest Re Group companies, has released an online portal for brokers and clients to obtain immediate liability coverage for special events. The SIG special event portal …

PERILS Issues Updated Industry Exposure Database for Australia, Europe & Turkey

PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has released a 2018 update of its Industry Exposure Database (IED). The updated country IEDs have again been produced from scratch, based on exposure information received from more …

Barbican Launches Cyber Resilience Product Called ‘One-Step-Ahead’

Barbican Insurance Group announced the launch of a product partnership with two cyber risk management specialists to help insureds assess and improve their cyber resilience. Called Barbican Cyber “One-Step-Ahead” (OSA), the product encompasses three critical areas of cyber resilience: cyber …

Moody’s Offers Software for Insurers Preparing for Reporting Standards IFRS 17

Moody’s Analytics has launched RiskIntegrity™ IFRS 17, a cloud-ready solution designed to help insurers report under International Financial Reporting Standard (IFRS) 17, the new standard governing insurance contracts. This new software will support insurers as they work to meet the …

Next Insurance to Offer Online Coverage for Handyman Professionals

Next Insurance, a digital insurance company for small businesses, is now the preferred provider of insurance for members of the Association of Certified Handyman Professionals (ACHP), an organization for handyman professionals. Coverage will be offered directly through the ACHP website. …

AIR Worldwide, RenaissanceRe Collaborate to Develop Casualty Catastrophe Model

Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with RenaissanceRe, a global re/insurer, as part of a joint effort to enhance the industry’s modeling of long-tail casualty risk. “Since our inception, RenaissanceRe has been at the forefront of …

BHSI Introduces Private Company & Nonprofit Organization Portfolio Cover in Asia

Berkshire Hathaway Specialty Insurance Co. (BHSI) has introduced Executive First Private Company Portfolio and Executive First Nonprofit Organization Portfolio policies in Asia. “Our Private Company and Nonprofit Organization Portfolio forms provide far-reaching, contemporary coverage backed by BHSI’s financial strength,” said …