terrorism insurance News

Hiscox’s Rubin Joins Liberty Specialty Markets as Head of Terrorism Underwriting

Liberty Specialty Markets (LSM) has appointed Jennifer Rubin to a newly-created role as senior underwriting executive and head of Terrorism Underwriting in North America. Rubin was formerly senior vice president, head of Property and Terrorism at Hiscox USA, and has …

After Oil Field Attacks, Saudi Aramco Seeks Terrorism Insurance from London Market

Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters. Aramco, the world’s largest oil company, has been looking …

Pool Re Forms Specialist Unit to Help U.K. Insurers Build Terrorism Risk Resilience

Pool Re, Britain’s government-backed terrorism reinsurer, has launched of Pool Re “Solutions,” a specialist unit created to support its member insurers and their policyholders by sharing the understanding and partnerships it has established over 25 years of reinsuring terrorism risk. …

Pool Re Buys Non-Damage BI Retro Cover in Program Led by Liberty Specialty

Pool Re, Britain’s terrorism reinsurer, announced the placement of its new retrocession program covering non-damage business interruption (NDBI) losses. The program incepted on July 5. The Counter-Terrorism and Border Security Bill 2018, which was signed in February 2019, allows Pool …

Terrorism, Populist Politics Raise Risks for European Businesses: Aon Report

Europe faces an increasingly complex security environment, as Islamist and far-right terrorism creates new vulnerabilities for businesses and communities, according to new research from the broker Aon. In 2019, the risk picture is further complicated by a resurgence of populist …

Pool Re Funds £10M Initiative to Help UK Businesses Improve Resilience to Terrorism

Pool Re, Britain’s terrorism reinsurer, is collaborating with UK government agencies to help businesses proactively protect against the risk of terrorism. The £10 million ($13.1 million) project is being funded by Pool Re, led by the UK Counter-Terrorism Police, in …

Pool Re Completes £2.3B ($3.1B) Terrorism Retrocession Placement

Pool Re, Britain’s state-backed terrorism reinsurer, has today completed placement of its £2.3 billion (US$3.1 billion) retrocession program with more than 50 international reinsurers, led by Munich Re. The program, provided on a three-year basis, is one of the largest …

Ironshore’s Shrubb Joins AXA XL’s Terrorism Insurance Team in U.S.

Morgan Shrubb has joined AXA XL Insurance as underwriting manager for War, Terrorism & Political Violence insurance. Shrubb joins AXA XL from Ironshore International where she served as a production specialist, charged with growing the company’s war, terrorism and political …

UK’s Pool Re Extends Terrorism Cover to Include Non-Damage Business Interruption

UK’s Pool Re now is able to cover losses incurred if a business cannot trade or is prevented from accessing its premises in the wake of a terrorist attack. Before a change in the law, Pool Re, a public-private partnership …

Mass. Insurance Agency to Pay $5M Restitution for Agent Overcharging Customers

A Peabody, Mass.-based insurance agency has been ordered by a Massachusetts judge to pay more than $5 million in restitution to its small business customers after they were overcharged for insurance products. The final judgment, entered by Suffolk Superior Judge …