Optio expands political violence and terror offering through Newbridge acquisition

Optio expands political violence and terror offering through Newbridge acquisition

Optio expands political violence and terror offering through Newbridge acquisition

Optio, the London-based MGA formed though the merger of Ascent Underwriting, Cove Programs and broker Bay Risk Services in September of 2018, has announced the acquisition of specialist political violence and terrorism MGA Newbridge Risk Partners for an undisclosed sum. Newbridge was formed in 2015 on the Castel platform, the specialist operation formed by London market underwriting group Barbican in…

Growing demand for multinational insurance despite headwinds

Growing demand for multinational insurance despite headwinds

Growing demand for multinational insurance despite headwinds

Demand for multinational insurance programmes continues to rise despite mounting anti-globalisation sentiment and protectionism, with captives, mid-sized companies and firms from emerging markets driving growth. Some companies in mature markets have scaled back programmes as they reduce their global footprint, but are generally looking at covering a wider range of risks in international programmes. According to brokers and insurers, demand…

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG announced yesterday that, as of January 2020, virtually all of its commercial property and casualty policies will begin affirmatively covering or excluding physical and non-physical cyber exposures. The US-based international insurance group said this move will address “market concerns” that traditional commercial insurance policies across the industry – from property to general liability – are often silent about cyber…

Political risk capacity rides high at more than $3bn

Political risk capacity rides high at more than $3bn

Political risk capacity rides high at more than $3bn

Capacity for political risks is riding close to an “all-time high” at $3.09bn and is also strong for buyers in the credit insurance market, according to analysis from broker Gallagher. It said that trade and secured non-trade government counterparty capacity stands at $3.12bn, with a further $2.48bn for trade and secured non-trade private counterparty risks. Capacity for unsecured non-trade stands…

Neon to lead London political risks insurance consortium

Neon to lead London political risks insurance consortium

Neon to lead London political risks insurance consortium

A new political risks insurance consortium has been established in London, with Lloyd’s insurer Neon as the lead and MS Amlin becoming a joint agreement party. The London Political Risks Insurance Consortium has been created in response to increased levels of political uncertainty across the globe, which have triggered demand for political risks insurance coverage at scale, according to Neon.…

US-China trade war and changing world order top business risks in 2019: Control Risks

US-China trade war and changing world order top business risks in 2019: Control Risks

US-China trade war and changing world order top business risks in 2019: Control Risks

There will be little time for multinationals to mourn the end of the post-war liberal consensus that brought about globalisation, as the developing US-China trade war, and the story it foretells about a new world order, becomes the defining geopolitical risk in 2019, according to Control Risks…

Cyber tops risk ranking in Europe and North America: WEF report

Cyber tops risk ranking in Europe and North America: WEF report

Cyber tops risk ranking in Europe and North America: WEF report

Cyber security is the top threat facing European businesses in 2018, followed by asset bubble and failure of national governance, according to a new report and survey from the World Economic Forum (WEF). Globally, cyberattack recorded a rise from eighth position to fifth place in 2018, but of the 19 countries where businesses ranked cyberattack as their number one risk over the next 10 years, 12 were in Europe…

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