Ben Norris
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Aviation
Aerospace broker Piiq Risk Partners gets approval to open in France
Global aerospace (re)insurance broker Piiq Risk Partners has secured regulatory approval to open in France and help serve European clients…
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Benelux
Castel Europe acquires Dutch marine business from The Hartford
Castel Underwriting Europe has agreed to acquire the renewal rights of Navigators Europe’s book of predominantly Dutch marine business from…
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Africa
Emerging markets face ‘unparalleled’ civil unrest as pandemic takes toll, warns Maplecroft
Some 37 countries are at risk of major civil unrest before the end of 2020 as the economic fallout from…
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CRE Risk Management
European court blocks EU-US Privacy Shield over data surveillance fears
The European Union’s Court of Justice has ruled against the Privacy Shield agreement that allows EU consumer data held by…
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Association News
Start renewals early as pandemic accelerates hardening: Graham
UK insurance buyers need to start their renewal negotiations as early as possible and “stand out from the crowd” to…
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BI
Hiscox accuses FCA of ‘extreme’ support for policyholders
Hiscox has delivered a withering attack on the UK Financial Conduct Authority’s (FCA) arguments in favour of business interruption (BI)…
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Climate Change
UK insurance sector welcomes DEFRA plans on flood defences
The UK insurance industry has welcomed plans revealed this week of a new long-term plan to tackle flood risk and…
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BI
French pandemic scheme unlikely to include non-health risks
It now seems unlikely that the scheme currently being designed by the French Ministry of Economy and Finance in consultation…
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Benelux
Howden takes another step towards being top independent broker in Europe
Howden, the London-based international specialty broker that is part of the Hyperion Insurance Group and 46% staff-owned, aims to become…
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CRE Insurance
Insurers flag heavy second-quarter Covid-19 and civil unrest losses
A number of US and Bermudian insurers face higher-than-expected second-quarter cat losses, as Covid-19 and civil unrest take their toll.…
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Africa
Climate change response should match Covid-19 action, says Zurich
Climate change deserves the same level of response as the Covid-19 pandemic and should be treated as a global emergency,…
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Africa
Companies move to diversify supply chain post-pandemic and reduce reliance on Far East, finds BCI survey
More than half of organisations around the world surveyed by the Business Continuity Institute (BCI) intend to diversify their supplier…
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Africa
Shipping losses hit new low but Covid-19 threatens improved safety: AGCS
Large shipping losses hit a new low last year with 41 vessels lost worldwide, but total incidents were up year…
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CRE Insurance
Moody’s says P&C pandemic losses could reach €80bn
The Covid-19 pandemic is set to cost P&C insurers between €50bn and €80bn in claims, pitching it in the same…
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CRE Insurance
Arch Capital estimates up to $180m Q2 Covid-19 loss
Arch Capital Group said cat losses for Q2 will sit between $205m and $225m, which includes $170m to $180m in…
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CRE Insurance
Travelers warns of Q2 loss as cats total $854m
US insurance group Travelers said estimated cat losses of $854m for Q2 2020 will push the company into the red…
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CRE Insurance
Buyers’ concerns grow as market hardening worsens
Insurance buyers are growing increasingly concerned about the hardening insurance market as things get even tougher for buyers due to…
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Africa
Supply chain risk falls in May but more Covid-19-related pain to come: riskmethods
A report from riskmethods finds a decline in every type of supply chain risk it monitored during May, as Covid-19-related…
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Global reinsurance capacity falls 6% in Q1
Global reinsurance capacity fell 6% in the first three months of 2020 to $590bn, with traditional capital down 6% to…
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CRE Insurance
Second wave of Covid-19 will erode insurers’ capital, warns S&P
New outbreaks of Covid-19 would eat into insurers’ capital, which until now has been strong enough to withstand asset damage…