Tokio Marine Kiln (TMK) News

Markets/Coverages: Palisade Legal Risk MGU; Tokio Marine Kiln IP Abatement; Marsh Cybersecurity Marketplace

Palisade Partner Launches Specialty Managing General Underwriter Palisade Insurance Partners, a specialty managing general underwriter, has been launched with plans to provide a range of contingent legal risk insurance and other specialty insurance products across the U.S. and International markets. …

People Moves: WTW Names Aon’s Day as Head of Int’l Property; TMK Hires Spyropoulos From Lloyd’s as Asia Regional MD; HDI Global Mexico Makes Management Changes

This edition of International People Moves details appointments at Willis Towers Watson (WTW), Tokio Marine Kiln (TMK), and HDI Global. A summary of these new hires follows here. WTW Names Aon’s Day as Head of Int’l Property Insurance broker WTW …

Russia’s Seizure of Foreign Jets Triggers Wave of Insurance Claims From Leasing Firms

Russia’s move to transfer almost 800 foreign-owned jets to its own aircraft register amid foreign sanctions has triggered a wave of insurance claims from leasing firms whose fleets have effectively been commandeered. Lessors will assert that registering the planes in …

Lloyd’s Launches Biz Interruption Insurance Policy for SMEs, Led by Tokio Marine Kiln

Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies …

Tokio Marine Kiln Taps Chubb’s Shaw as Chief Underwriting Officer

Tokio Marine Kiln (TMK) has appointed Matthew Shaw as chief underwriting officer. Shaw joins from Chubb where he was most recently divisional president of global markets. Shaw joined Ace (latterly Chubb) in 2002 having begun his insurance career as a …

Olympics’ Postponement Likely to Cost Insurers Much Less than Cancellation

Delaying the Olympics is likely to cost insurers much less than canceling the Tokyo Games altogether, with a chance that some of those involved may not have policies specifically covering a postponement, industry sources say. The Tokyo Olympics were postponed …

Parametric Insurance Could Offer Hotels Relief from Coronavirus Cancellations

Organizers of events called off because of the coronavirus are likely to miss out on insurance payouts because typical policies do not cover epidemic outbreaks. Hotels hit by cancellations may fare better. That is because a new type of insurance …

Best Revises Lloyd’s Outlook to Stable from Positive on Difficult Business Conditions

A.M. Best has revised the outlooks to stable from positive of Lloyd’s and Lloyd’s Insurance Co. (China) Ltd., while at the same time affirming their financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a+”. In …

Best Affirms Lloyd’s Syndicate 510 [Tokio Marine Kiln] Ratings

A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 510, which is managed by Tokio Marine Kiln Syndicates Limited (TMKS). The outlook for both ratings remains positive. “The …