AGCS and Nephilia extend weather risk hedges to solar market

AGCS and Nephilia extend weather risk hedges to solar market

AGCS and Nephilia extend weather risk hedges to solar market

Nephila Climate, the weather and ESG-driven specialty division of Bermuda-based Nephila Holdings, together with Allianz Global Corporate & Specialty’s (AGCS’s) alternative risk transfer unit, have closed a first set of solar proxy revenue swaps for two projects in Australia, the Susan River Solar and Childers Solar facilities. The two new five-year transactions announced this week by Nephila and AGCS will…

Reinsurers bemoan lack of rate change in Asian insurance market

Reinsurers bemoan lack of rate change in Asian insurance market

Reinsurers bemoan lack of rate change in Asian insurance market

Despite the fact that 2017 was a severe year of natural catastrophes, the Asian insurance market has seen little impact in terms of rate changes, much to the disappointment of many insurers and reinsurers. Rates in the region have been deteriorating for several years, due to excess capacity and strong competition. This has led insurers to question whether certain commercial…

Beazley covers charities for event cancellation

Beazley covers charities for event cancellation

Beazley covers charities for event cancellation

Beazley has launched a worldwide event cancellation insurance product for registered charities to protect costs and loss of revenue. Beazley said the bespoke product covers charities for income that would have been raised at events, ranging from donations to raffles. The insurer added that charity clients will receive a 10% discount on its standard event cancellation premium. Seren Eaglestone, contingency…

Aon appoints Lambrou as new CEO of commercial global specialties business

Aon appoints Lambrou as new CEO of commercial global specialties business

Aon appoints Lambrou as new CEO of commercial global specialties business

Aon has appointed Lambros Lambrou to the newly-created role of chief commercial officer and CEO of Global Specialties for commercial risk business. Mr Lambrou was previously CEO of Aon Risk Solutions, Australia and has worked in the risk management industry for over three decades. “Global Specialties is a critical element of how we identify and address our clients’ most pressing…

TMK partners with Australian insurtech firm

TMK partners with Australian insurtech firm

TMK partners with Australian insurtech firm

Corporate and specialist insurer Tokio Marine Kiln (TMK) has entered into a strategic alliance with Australia-based insurtech firm Evari, which provides on-demand insurance to small business in Australia. Under the terms of the agreement, TMK will have access to Evari’s digital insurance platform and products for its Australian clients. Evari has developed a platform aimed at small and medium-sized enterprises…

IRM appoints global ambassador for Australia and APAC

IRM appoints global ambassador for Australia and APAC

IRM appoints global ambassador for Australia and APAC

The Institute of Risk Management (IRM), an education body for risk professionals, has appointed Sydney-based independent risk consultant Gareth Byatt as a new global ambassador for Australia and the Asia-Pacific region. Mr Byatt has been an active member of the IRM for a number of years as, well as a member of the association’s infrastructure, risk and innovation special interest…

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…

US winter storms hit $3bn in March: Impact Forecasting

US winter storms hit $3bn in March: Impact Forecasting

US winter storms hit $3bn in March: Impact Forecasting

US winter storms are estimated to have caused $3bn in economic losses last month, with insurers picking up two thirds of the bill, according to Aon Benfield’s Impact Forecasting. Publishing its monthly global catastrophe report, Impact Forecasting said winter storms caused travel delays and damage, killing ten people, while March also recorded the US’s first tornado for a record 306…

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