Beazley is now offering cyber and management liability to French insurance buyers working at companies with turnover of up to €350m. Available through e-broking platform myBeazley, the companies will now have access to cyber service Beazley Breach Response (BBR) and management liability (ML) insurance, including D&O, crime and employment practice covers. Buyers can take out the covers separately or combine…
Gallagher has bought specialist Swedish broker Proinova for an undisclosed fee. Proinova specialises in the real estate sector and has a longstanding relationship to deliver insurance, loss prevention and claims management services to trade association members. It also offers risk and insurance services for municipalities, hotels and conferences, and commercial property. The 19-strong team is headquartered in Helsingborg. Gallagher said…
The London company insurance market recorded commercial premiums up 8% to £28.4bn in 2018, according to figures from the International Underwriting Association (IUA) following analysis of more than 60 companies. The number compares with £35.5bn from the Lloyd’s market and shows that overall London market premium totalled £64bn last year. The majority of London company premium at £19.6bn was written…
The Reserve Bank of Australia (RBA) has warned that if investors and financial institutions do not take the impact of climate change more seriously, there is a good chance that critical business and personal risks will become increasingly uninsurable. The bank also warns in its latest Financial Stability Review that if insurers fail to price the related risks accurately enough,…
New Zealand’s only locally owned specialty liability insurer – Delta Insurance NZ – has responded to the growing risk of food recalls in New Zealand with a broader offering for food manufacturers. The specialty insurer, which recently welcomed Kent Chaplin, former chief executive officer and regional head for Lloyd’s in Asia-Pacific, to its board in August, has also published a…
Bank Negara Malaysia has extended the timeline for the removal of fire insurance tariffs to next year at the earliest, industry sources have told Malaysian online news service Edge Weekly. The bank announced formally in June 2016 that it would deregulate the pricing of motor and fire products through the gradual disapplication of requirements under the Motor Tariff and Revised…
The Hong Kong Insurance Authority (HKIA) has published clarification about the impact of the recently introduced Prohibition of Face Covering Regulation under the Emergency Regulations Ordinance (Cap. 241) on the validity of insurance policies, following various media requests. “Insurance policies are private contracts between insurers and policyholders. The Prohibition of Face Covering Regulation made by the chief executive in council…
Saham Unitrust Insurance Nigeria is reported to have launched its travel insurance solution online. Working with Swan International Assistance, Saham Unitrust’s move will enable customers to buy their travel insurance policies from any part of the world. The company said this is part of its efforts to be innovative and continue to make insurance more accessible to the public. It…
HDI Global has appointed Thomas Stamm to the newly created position of chief underwriter for property and casualty in its Swiss branch, as part of a wider shake up of the unit. Mr Stamm will be responsible for the property, casualty, engineering and accident lines of business, as well the SME and risk consulting divisions. He will report directly to…
The rapid rise in class actions brought in Australia against corporations operating under the continuous disclosure regime for listed companies shows no signs of abating, based on latest analysis from law firm Jones Day in its recently published fifth review of Australian class actions. The recent connected rise in directors and officers (D&O) claims will inevitably continue as a result,…