Charter launched to eradicate modern slavery in construction supply chains

Charter launched to eradicate modern slavery in construction supply chains

Charter launched to eradicate modern slavery in construction supply chains

A Construction Coalition Charter has been launched in the UK that aims to eradicate modern slavery in construction supply chains. The Charter has been established by Building Research Establishment (BRE), the British Standards Institution (BSI) Supply Chain Services and Solutions and strategic communications partner Sustain Worldwide. The coalition of leading construction sector institutions and associations aims to raise awareness on…

London attack to spark further demand for widening terror cover

London attack to spark further demand for widening terror cover

London attack to spark further demand for widening terror cover

Insured losses from the horrific terror attack on central London this week will be small, but the attack is likely to spark a rise in demand for specialist terror and political violence cover, with business interruption (BI) protection top of the list. Tim Davies, co-head of sabotage and terrorism at Lloyd’s insurer Sompo Canopius, told Commercial Risk Europe that sadly this…

London market moves ahead with single claims protocol

London market moves ahead with single claims protocol

London market moves ahead with single claims protocol

Key underwriting groups in the London market have approved a Single Claims Agreement model proposed by brokers that will allow lead carriers to authorise non-complex claims up to a specified value on behalf of all following carriers. Both the International Underwriting Association (IUA) and the London Market Association (LMA) have given the green light to the model that will be…

AmWINS’ Unicorn MGA hires haulage underwriter

AmWINS’ Unicorn MGA hires haulage underwriter

AmWINS’ Unicorn MGA hires haulage underwriter

US-based global broker AmWINS Group, Inc has appointed Perry Lyons as motor fleet underwriter in its London-based managing general agent Unicorn Underwriting. Mr Lyons joins from XL Catlin where his primary focus was underwriting haulage business, with an emphasis on risk managed programmes. Before XL Catlin, Lyons was a motor broker placing wholesale motor business into the London market. Unicorn…

‘Balanced Book’ strategy pays dividends for HDI Global in soft market

‘Balanced Book’ strategy pays dividends for HDI Global in soft market

‘Balanced Book’ strategy pays dividends for HDI Global in soft market

HDI Global SE, the industrial insurance arm of German group Talanx, has reported a significant improvement in underwriting results, combined ratio and profits for 2016 despite continued soft markets and the low interest rate environment. The insurer has also promised to continue its push into international markets this year. Deputy chairman of the board of management at Talanx and CEO…

Insurers start raising rates after Ogden change

Insurers start raising rates after Ogden change

Insurers start raising rates after Ogden change

Insurers have started the first of several expected rate increases for UK liability insurance after changes to the Ogden rate took effect on Monday, according to the Association of British Insurers (ABI). On the same day, Travelers became the latest insurer to book reserve increases in the first quarter to account for the change. The US-based firm said its first…

James Tuplin joins XL Catlin to head CMT team in Europe

James Tuplin joins XL Catlin to head CMT team in Europe

James Tuplin joins XL Catlin to head CMT team in Europe

XL Catlin has poached James Tuplin from rival QBE to be its head of cyber and technology, media and telecoms, international. At QBE he was cyber and TMT portfolio manager, with responsibility for growing the insurer’s cyber portfolio in Europe. Based in London, Mr Tuplin will be responsible for underwriting cyber insurance, as well as professional indemnity insurance for the…

More than 20,000 organisations join anti-slavery register

More than 20,000 organisations join anti-slavery register

More than 20,000 organisations join anti-slavery register

More than 20,000 organisations have joined Tiscreport.org, the open data registry committed to helping to end slavery within our lifetimes. The registry said organisations, from across the world, range broadly from leading retailers and manufacturers through all sectors to the regional parliaments. Between them they have an estimated combined turnover of more than £2.5trn. The UK’s Modern Slavery Act (MSA)…

Neon launches marine and offshore construction consortium at Lloyd’s

Neon launches marine and offshore construction consortium at Lloyd’s

Neon launches marine and offshore construction consortium at Lloyd’s

Lloyd’s insurer Neon, which is part of The Great American Insurance Group, launched a new marine and offshore construction consortium. The consortium went live in February and aims to provide bespoke insurance coverage to shipyard clients. The consortium is underwritten by Mireille Dolonen and offers $70m capacity for shipyard construction and $55m for rig construction. Neon leads the consortium and…

Insurers urged to address emerging fracking risks

Insurers urged to address emerging fracking risks

Insurers urged to address emerging fracking risks

Insurers need to address growing fracking risks and develop policies to specifically cover the emerging threat, according to a new report from the Chartered Insurance Institute (CII). The report, which is focused on UK risks, says the expected increase in onshore fracking following government support for the technique needs to be tackled head-on by insurers through designing specific policy cover.…

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