Clyde & Co boosts insurance partner numbers

Clyde & Co boosts insurance partner numbers

Clyde & Co boosts insurance partner numbers

Law firm Clyde & Co has announced 12 new partners including six within its insurance department, taking the total number of partners worldwide to 400. The new partners include Tony Cawley for London casualty insurance, where he will be joined next month by Jennette Newman and Jonathan Edwards from BLM. Damian Rourke, technical lead of the firm’s counterfraud team and…

Emerging risk landscape hots up as law firms seek opportunities

Emerging risk landscape hots up as law firms seek opportunities

Emerging risk landscape hots up as law firms seek opportunities

Litigation funders are travelling the world looking for fertile ground to bring claims and finding success in an increasing number of places, warns Tricia Hobson, Norton Rose Fulbright global chair and head of its Australia and Asia-Pacific insurance practice. Speaking in London recently, she said much of the pattern of behaviour follows the US, but claimant lawyers and litigation funders…

EC’s collective redress proposals ‘extremely harsh’ on business and risk managers: source

EC’s collective redress proposals ‘extremely harsh’ on business and risk managers: source

EC’s collective redress proposals ‘extremely harsh’ on business and risk managers: source

The EC’s proposed pan-European collective redress system put forward last week is much tougher on business than observers feared and would have huge implications for companies in terms of liability, insurance and risk management, a source in Brussels close to risk and insurance managers told Commercial Risk Europe. With key safeguards previously put forward by the EC to stop abuse…

JD.com buys 33.3% share in Allianz China General Insurance

JD.com buys 33.3% share in Allianz China General Insurance

JD.com buys 33.3% share in Allianz China General Insurance

Chinese e-commerce giant JD.com is to acquire a third of Allianz China General Insurance as part of its push into the financial services sector. The 33.3% stake, which is still subject to government approval, will cost JD.com $85.4m (CNY537m) and will make it the second-largest shareholder in the insurance operation, after Allianz. JD.com, the second-largest e-commerce company in China after…

HWI launches new underwriting venture in Hong Kong

HWI launches new underwriting venture in Hong Kong

HWI launches new underwriting venture in Hong Kong

A new Hong Kong-based managing general agent (MGA) has been launched by independent insurer HWI International Group. NuVu Underwriting Hong Kong is set to begin writing business from 1 July 2018, subject to regulatory approval, and will be headed by Jeremy Austen. The MGA will initially concentrate on property, marine, personal accident, fine art, specie and terrorism. While HWI has…

Ferma calls for balance in EC’s collective redress plans

Ferma calls for balance in EC’s collective redress plans

Ferma calls for balance in EC’s collective redress plans

Ferma is considering the implications of the EC’s plans to introduce collective redress across the EU and higher penalties for companies that breach consumer law, before making its next move. But the federation has already reiterated its stance against punitive damages and reconfirmed its belief that out-of-court settlements are preferable for business and consumers, while reminding the commission of the…

Above-average 2018 Atlantic hurricane season predicted

Above-average 2018 Atlantic hurricane season predicted

Above-average 2018 Atlantic hurricane season predicted

New research from the University of Colorado predicts that the Atlantic hurricane and storm season will be just above average this year. Seven hurricanes are forecast for 2018, above the median of 6.5 based on years 1981 to 2010. The number of hurricane days is forecast to total 30, compared to the average of 21.3. The number of major hurricanes…

Burst pipe causes fatal oil spill in Indonesia

Burst pipe causes fatal oil spill in Indonesia

Burst pipe causes fatal oil spill in Indonesia

Indonesia’s national oil company Petramina has stated that a ruptured undersea pipe was the cause of an oil spill on the island of Borneo that forced the local authorities to declare a state of emergency in the area. The spill started on Saturday in the port city of Balikpapan and claimed the lives of five fisherman when it ignited. Since…

Reinsurance space remains buyer’s market at 1 April renewals: Willis Re

Reinsurance space remains buyer’s market at 1 April renewals: Willis Re

Reinsurance space remains buyer’s market at 1 April renewals: Willis Re

The 1 April reinsurance renewals continued the trend set in January with a broadly flat pricing environment for loss-free programmes, as reinsurers failed to push through rate increases, according to Willis Re. Although ongoing reinsurance price declines witnessed during recent years have halted, plentiful capital, ongoing interest from the insurance-linked securities (ILS) sector and large primary insurers re-entering the reinsurance…

Berkshire Hathaway opens Perth office for specialty insurance

Berkshire Hathaway opens Perth office for specialty insurance

Berkshire Hathaway opens Perth office for specialty insurance

Commercial insurer Berkshire Hathaway Specialty Insurance (BHSI) has expanded its Australian presence with an office opening in Perth, Western Australia. The new office will be led by casualty underwriting head Anthony Prindiville and property underwriting head Mark Shephard. The Perth office will add to BHSI’s existing branches in Sydney, Melbourne and Brisbane and will focus on underwriting casualty, property, mining,…

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