Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

The EU should close gaps between member states’ drone regulations that currently restrict insurers’ ability to deliver risk-transfer solutions, said the industry’s federation Insurance Europe. In response to the EC’s consultation on technical standards for drones, Insurance Europe calls for a common framework to license, certificate, authorise and classify drone use at EU level. The European federation said insurers’ interest…

Ironshore’s European business moves to sister company Liberty Specialty Markets

Ironshore’s European business moves to sister company Liberty Specialty Markets

Ironshore’s European business moves to sister company Liberty Specialty Markets

Liberty Specialty Markets (LSM) will acquire the European insurance business of Ironshore Europe following a renewal rights agreement between the two companies, which are both part of Liberty Mutual. Ironshore’s European business – which includes contingency, construction, fine art and specie, liability, marine and personal accident lines – is currently written in Cologne, Zurich and Rotterdam. These offices will no…

LSM rebrands reinsurance business as it launches in Italy

LSM rebrands reinsurance business as it launches in Italy

LSM rebrands reinsurance business as it launches in Italy

Liberty Specialty Markets (LSM) has launched a new reinsurance operation in Italy and, at the same time, rebranded its entire reinsurance operations as Liberty Mutual Re. Based in Rome and Milan, the new Italian business will underwrite property, casualty and specialty business. Massimiliano Fantini joins Liberty Mutual Re to head up the new operation, having previously worked for Guy Carpenter…

How far do EC collective redress plans go?

How far do EC collective redress plans go?

How far do EC collective redress plans go?

In its New Deal for Consumers package announced last month, the EC put forward plans to introduce pan-European Union collective redress and penalties of up to 4% of annual turnover for organisations that fall foul of consumer law, among other measures. The proposed pan-European collective redress system was criticised by various stakeholders for being tougher on business than many feared…

Time runs out for contract certainty as London lobby group calls for grandfathering to resolve ‘crisis’

Time runs out for contract certainty as London lobby group calls for grandfathering to resolve ‘crisis’

Time runs out for contract certainty as London lobby group calls for grandfathering to resolve ‘crisis’

Cross-border insurance contracts and pensions affected by Brexit must be grandfathered after the UK leaves the EU, argues TheCityUK in a new report that finds 30 million EEA and six million UK policyholders are at risk if a solution is not found. Financial services lobby group TheCityUK said £26trn of uncleared derivatives are also at risk, adding that time has…

XL adds cyber cover to UK liability offering

XL adds cyber cover to UK liability offering

XL adds cyber cover to UK liability offering

XL Catlin is offering a coverage extension to its UK general liability product that provides cyber insurance for mid-sized and large companies that do not currently buy standalone cyber cover. The extension, in the form of an endorsement, covers key costs and liabilities associated with a data breach or cyberattack. Essentially, it adds first-party cyber and business interruption to UK…

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