Moore takes over top job at Liberty Specialty Markets

Moore takes over top job at Liberty Specialty Markets

Moore takes over top job at Liberty Specialty Markets

Matthew Moore has taken over from Nick Metcalf as Liberty Specialty Markets’ (LSM) president and managing director, in a long-planned transition. Mr Moore, most recently LSM’s group chief underwriting officer (CUO), has been with Liberty for 15 years, after joining in 2002 as a political risk underwriter. He was appointed active underwriter of Liberty’s 4472 syndicate and group CUO of…

Pioneer broadens US contractors’ pollution coverage

Pioneer broadens US contractors’ pollution coverage

Pioneer broadens US contractors’ pollution coverage

Pioneer Special Risk has introduced an optional coverage expansion for specialty contractors in the US. Pioneer now offers specialty contractors the option of including incidental contractors pollution coverage, traditionally required as part of their client’s contractual terms, within the specialty contractor’s primary commercial general liability (CGL) policy. Applicable insurance limits for the incidental CPL are included within the $1m per…

Cat bonds issuance reaches record levels in Q2

Cat bonds issuance reaches record levels in Q2

Cat bonds issuance reaches record levels in Q2

The rise of insurance-linked securities continues to reach new levels after the issuance of catastrophe bonds exceeded previous records in the most recent quarter. A report issued by Aon Securities, the investment banking arm of broker Aon Benfield, recorded issuance of cat bonds at $6.38bn across 20 transactions, exceeding the previous record of $4.49bn set back in Q2 2014. The…

Singapore regulator calls for more use of parametric insurance

Singapore regulator calls for more use of parametric insurance

Singapore regulator calls for more use of parametric insurance

The managing director of Singapore’s financial regulator has called for greater use of parametric and index-based insurance to close the protection gap in natural catastrophe and disaster risk. Speaking at the Institute of Catastrophe Risk Management (ICRM) Symposium, Ravi Menon, managing director of the Monetary Authority of Singapore, said that more innovative use of these products is integral to solving…

Cyber insurance set to soar in Asia thanks to WannaCry

Cyber insurance set to soar in Asia thanks to WannaCry

Cyber insurance set to soar in Asia thanks to WannaCry

The adoption of cyber insurance is set to rise dramatically in Asia in the wake of the WannaCry virus that swept across the globe earlier this year, according to AIG. The global insurer told Reuters that it has seen an 87% increase in inquiries in China and Hong Kong between April and May, as a direct result of the ransomware attack…

Markel opens new trade credit office in Chicago

Markel opens new trade credit office in Chicago

Markel opens new trade credit office in Chicago

Markel Corporation has announced the launch of a new trade credit and political risk operation in Chicago. Christen Mizell will transfer to Chicago from New York to take on trade credit and political risk underwriting responsibility for the Midwestern states. Her role is to broaden Markel’s geographic footprint, with special focus on developing strategic broker relationships, supporting the existing client…

Tom Bongi joins Brit Global Specialty USA professional lines

Tom Bongi joins Brit Global Specialty USA professional lines

Tom Bongi joins Brit Global Specialty USA professional lines

Brit has appointed Tom Bongi as executive vice-president of professional lines at Brit Global Specialty USA (BGSU). Following his appointment, Mr Bongi will be responsible for establishing and developing Brit’s professional lines portfolio in the US, with a focus on SME business. He will report directly to Nick Davies, president of Brit’s businesses in the Americas. Mr Bongi joins Brit…

TT Club to insure Russian startup delivery company

TT Club to insure Russian startup delivery company

TT Club to insure Russian startup delivery company

TT Club has revealed that is writing comprehensive insurance cover for the Russian startup freight forwarder, Deliver, one of the first companies in the country to implement an Uber-style service. Deliver’s network has a carrier resource base of more than 59,000 drivers. Such a high number of sub-contracted transport arrangements requires specialist and comprehensive insurance cover, TT Club says. With…

Schinnerer acquires ICAT from Paraline

Schinnerer acquires ICAT from Paraline

Schinnerer acquires ICAT from Paraline

Specialty programme underwriting manager Schinnerer has agreed to acquire International Catastrophe Insurance Managers LLC (ICAT), from the Paraline group. ICAT is a managing general agent providing property catastrophe insurance to businesses and homeowners across the US. Terms of the transaction were not disclosed. On completion, ICAT will retain its close relationship with Syndicate 4242 at Lloyd’s, its associated Special Purpose…

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