Sedgwick and Cunningham Lindsey combine marine divisions

Sedgwick and Cunningham Lindsey combine marine divisions

Sedgwick and Cunningham Lindsey combine marine divisions

Sedgwick and Cunningham Lindsey have combined their marine divisions, following completion of Sedgwick’s acquisition of the loss adjuster in April this year. Sedgwick said the combined marine operations will make it the largest global marine practice in the world, and the only global provider of marine claims services. The global marine practice will be staffed by 180 marine experts working…

Insurers will cover autonomous vessel risks but want safety guaranteed

Insurers will cover autonomous vessel risks but want safety guaranteed

Insurers will cover autonomous vessel risks but want safety guaranteed

In a straw-poll of marine insurers, some 54% said they would provide cyber cover for autonomous vessels, but only in the case that safety could be guaranteed. In the same poll, conducted among delegates at the recent International Union of Marine Insurance annual conference in Cape Town, 10% of underwriters said they would provide cover, regardless of concerns about safety.…

Marine insurers urged to manage sanctions risk

Marine insurers urged to manage sanctions risk

Marine insurers urged to manage sanctions risk

Marine insurers have been urged to manage their sanctions exposure as the US reimposes its sanctions against Iran. Speaking at the International Union of Marine Insurance’s annual conference in Cape Town, Nooshin Namazi, partner at Nicoletti Hornig & Sweeney, said insurers must take proactive steps to manage their sanctions risks. “With almost 90% of global trade carried by sea, it…

IUMI president warns of accumulation of losses around emerging risks

IUMI president warns of accumulation of losses around emerging risks

IUMI president warns of accumulation of losses around emerging risks

Insurers need to be aware of the risk of accumulation of losses around emerging risks, warns Dieter Berg, president of the International Union of Marine Insurance (IUMI). Speaking at the IUMI annual conference being held in Cape Town this week, Mr Berg said there are five main areas of risk to watch: technical, political, economic, social and environmental. The technical…

IUMI plans collection of major claims data

IUMI plans collection of major claims data

IUMI plans collection of major claims data

A project to collect hull and cargo claims data and then analyse major losses in terms of loss severity, frequency, location and cause is to be rolled out on a wider basis after a successful pilot. Donald Harrell, chair of IUMI’s Facts & Figures Committee, reported the IUMI’s large loss database pilot project has been a success. “For the past…

China Re to acquire Chaucer Group for $950m

China Re to acquire Chaucer Group for $950m

China Re to acquire Chaucer Group for $950m

China Reinsurance is set to spend close to a billion dollars acquiring specialty insurer Chaucer from Hanover Insurance. The deal, which is still subject to shareholder and regulatory approval, is expected to close by early 2019. China Re will acquire Chaucer Insurance, Hannover Australia and Hannover Insurance International Holdings in return for $865m in cash and an $85m dividend to…

Wijnants to join XL Catlin from Zurich as head of Benelux

Wijnants to join XL Catlin from Zurich as head of Benelux

Wijnants to join XL Catlin from Zurich as head of Benelux

Alain Wijnants has been appointed Benelux regional manager for XL Catlin’s insurance business. He will join the firm on 1 November from Zurich, where he currently serves as global head of management liability commercial. Mr Wijnants will replace Erik Hartkoren, who is retiring from XL Catlin after more than ten years of service. Manon Van der Meer – XL Catlin’s…

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