TMK launches VFX and post-production media insurance

TMK launches VFX and post-production media insurance

TMK launches VFX and post-production media insurance

Tokio Marine Kiln (TMK) has launched a hybrid product, VFX and Post-Production Media Insurance, for companies specialising in online or offline editing and digital content. Post-production media insurance, which combines traditional commercial insurance with cyber and reputational management cover, was designed to address the need for insurance cover in the face of cyber attacks and accidental security breaches. Policyholders will…

Blend launches in Sydney after renewal deal with Beazley

Blend launches in Sydney after renewal deal with Beazley

Blend launches in Sydney after renewal deal with Beazley

A newly approved Lloyd’s syndicate service company, Blend Insurance Solutions, has been launched in Sydney following a deal with Beazley Underwriting to secure renewal rights to its local accident and health portfolio in Australia. The renewal rights to Beazley’s local portfolio gives the startup an immediate presence in Australia and New Zealand. With the backing of established and respected parent…

Advent launches ancillary product portal for brokers

Advent launches ancillary product portal for brokers

Advent launches ancillary product portal for brokers

Advent Solutions Management, the startup incubator and insurtech investor, has launched a portal-based provider of specialist ancillary products to brokers. Sparta, part of Advent Solutions Management, employs sophisticated technology that intuitively suggests related ancillary products based on broker input about their client, Advent said. The portal also displays a client’s previous insurance purchase history to further aid broker cross-selling. Steve…

RMS questions Sendai Framework that aims to reduce nat cat risk

RMS questions Sendai Framework that aims to reduce nat cat risk

RMS questions Sendai Framework that aims to reduce nat cat risk

Nat cat expert Dr Robert Muir-Wood, chief research officer at RMS, has questioned the metrics behind the Sendai Framework that is used to measure progress on managing natural disasters around the world. With the United Nations (UN) conference on disaster risk reduction starting today, Dr Muir-Wood said important targets set against the Sendai Framework could undermine evidence presented by UN…

Swiss Re makes key appointments in Asia

Swiss Re makes key appointments in Asia

Swiss Re makes key appointments in Asia

Swiss Re has hired a number of senior executives to head up its new property and casualty reinsurance underwriting hub in Singapore, while its corporate insurance practice – Swiss Re Corporate Solutions (SRCS) – has made two senior appointments. Jonathan Rake will become SRCS chief executive for Asia-Pacific, taking over from Fred Kleiterp who has been appointed chief executive for…

AM Best restores AIG ratings

AM Best restores AIG ratings

AM Best restores AIG ratings

Rating agency AM Best has removed AIG’s ‘under review’ status, which has been in place with negative implications since the group announced further deterioration in its reserves for US long-tail liabilities in January. AM Best said all credit ratings and financial strength ratings have been affirmed as stable and without change following its review of measures put in place by…

Berkshire Hathaway Specialty launches casualty coverages in UK and southern Europe

Berkshire Hathaway Specialty launches casualty coverages in UK and southern Europe

Berkshire Hathaway Specialty launches casualty coverages in UK and southern Europe

Berkshire Hathaway Specialty Insurance (BHSI) is introducing public and products liability insurance in the UK, Ireland and southern Europe, and employer’s liability insurance in the UK and Ireland. BHSI added that, along with local casualty coverage in the UK and southern Europe, it will provide multinational programmes and underwrite certain targeted trades via coverholders. BHSI has appointed Martin Leeks as…

Swiss Re launches parametric insurance for Taiwan aquaculture

Swiss Re launches parametric insurance for Taiwan aquaculture

Swiss Re launches parametric insurance for Taiwan aquaculture

Global reinsurer Swiss Re has partnered with local specialist insurer Taiwan Fire & Marine Insurance to launch what it claims is the first parametric insurance policy for Taiwan’s fish farmers. The product will provide them with cover against extreme rainfall in Ping Tung county, a centre of agriculture and tourism in southern Taiwan. Parametric insurance uses pre-defined triggers to determine…

AGCS works with Praedicat to identify future catastrophe liability risks

AGCS works with Praedicat to identify future catastrophe liability risks

AGCS works with Praedicat to identify future catastrophe liability risks

A new risk assessment methodology means that the next generation of catastrophe liability risks for businesses will be identified far earlier than under current methods, according to Allianz Global Corporate & Specialty (AGCS). AGCS is working with Praedicat, the InsurTech analytics company based in Los Angeles, to combine AGCS’s underwriting processes and liability risk portfolio analysis with Praedicat’s forward-looking predictive…

Insurance industry urges personal injury rate reform

Insurance industry urges personal injury rate reform

Insurance industry urges personal injury rate reform

Lump sum compensation payments for personal injury claims awarded by UK courts should be based on a more diverse portfolio of investments to avoid the risk of undercompensation and overcompensation, according to the International Underwriting Association (IUA). The IUA adds to growing voices from across the insurance industry, including the British Insurance Brokers’ Association (BIBA) and the Lloyd’s Market Association (LMA), urging…

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