Liberty Specialty Markets (LSM) has announced plans to double the volume of general liability business written from its Netherlands office, which serves the Benelux and Nordic regions…
Allianz Global Corporate & Specialty (AGCS) is showing good momentum in the US, liability lines and mid-sized corporate sector, delivering overall internal growth of an impressive 20% during the first half of this year…
UK motor insurers will pool terrorism claims from the beginning of next year to cover all third-party claims where terrorists use vehicles to cause death or bodily injury, following a vote by Motor Insurance Bureau (MIB) members…
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…
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…
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…
Swiss Re Corporate Solutions has opened an office in Hamburg to drive commercial insurance growth in Germany…
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…
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 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…