Executive & D&O
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Virus leads to big drop in net profit at The Hartford
Leading US insurer The Hartford, parent of international speciality insurer Navigators, has posted a 57% drop in net profit for…
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Berkley warns society will pay ‘dear price’ if plaintiffs override virus exclusions
William Robert Berkley, chairman and founder of US insurance group W R Berkley, has warned that society will pay a…
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All quotes off the table as D&O insurers respond to Covid-19, says CRC Group
Covid-19 has reset the button for directors and officers (D&O) liability insurance, according to US wholesale broker CRC Group, which…
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Allianz CEO warns of ‘massive’ industry virus losses as Arch warns of big pandemic claims
Allianz chief executive officer Oliver Bäte has warned that the coronavirus has hit the insurance industry like a “meteorite”, will…
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Exclusions loom as D&O renewals impacted by pandemic
The coronavirus pandemic is further hardening the D&O market, which is beginning to apply more restrictive terms and conditions with…
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Construction firms with loss history may struggle to secure full PI cover
There are concerns that construction companies with a poor loss history or inadequate risk management will not able to buy…
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QBE to raise A$1.3bn to cover virus-linked uncertainty and prepare for opportunities
QBE plans to raise A$1.3bn to protect itself against expected reductions in revenues in various countries in which it operates,…
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Ed moves into transactional risk space
Ed has launched a transactional risk unit, appointing Niraj Perera as head of the operation within the broker’s professional and…
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World Bank pandemic bonds will be triggered if virus cases escalate in developing world
The World Bank’s pandemic bonds, which could provide $132.5m of funds to countries within the International Development Association (IDA) and…
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AXA XL’s Harris to replace Pryce as CEO of QBE international
AXA XL’s Jason Harris will replace QBE’s CEO of international business Richard Pryce, who is retiring at the end of…
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BI coverage biggest concern for Marsh clients as Covid-19 exposures mount
Cover for Covid-19 business interruption (BI) losses is the biggest concern for Marsh clients currently, as many come to realise…
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DAC gives advice for D&Os under mounting coronavirus risks
The Covid-19 pandemic has exposed company directors to heightened legal and directors and officers (D&O) risk, from liabilities for wrongful…
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New GB head of Finex D&O for Willis Towers Watson
Willis Towers Watson’s (WTW) GB financial lines and executives risk team (Finex) has appointed Eve Richards as its new GB…
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Risk managers need to prepare for attacks on D&O policies as virus bites
Directors and officers of companies that suffer losses or even bankruptcy as a result of coronavirus are likely to face…
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Willis Towers Watson appoints global head of FINEX financial institutions
Susan Finbow has been appointed as global head of financial, executive and professional risks (FINEX) financial institutions at Willis Towers…
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D&O claims could be triggered by Covid-19 warns HFW
Directors and officers of companies, especially those in financial services, should ensure that they have robust disaster recovery plans and…
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EC3 Brokers enters international financial and professional lines
Lloyd’s broker EC3 Brokers has expanded into international financial and professional lines with the appointment of David Purdy as divisional…
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GVNW cancels Cologne event as Merkel warns up to 70% of Germans will be infected
The German risk and insurance management association GVNW has cancelled its popular Focus on Cyber and Financial Lines conference planned…
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Covid-19 insurance claims uncertain as insurers turn to policy language and exclusions, warns Marsh
Insurers have learnt from previous virus outbreaks and in many cases policy language and exclusions could be used to deny…
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Buyers negotiate walk-away rights in coronavirus-hit M&A deals
Mergers and acquisitions (M&A) could take longer to complete should coronavirus cause a prolonged period of disruption, according to James…