H1 £20bn insured disaster losses almost half the ten-year average, finds Swiss Re

H1 £20bn insured disaster losses almost half the ten-year average, finds Swiss Re

H1 £20bn insured disaster losses almost half the ten-year average, finds Swiss Re

First-half nat cat and man-made disaster losses of $20bn were well down on the $35bn ten-year average, according to preliminary Swiss Re figures. The reinsurer’s sigma numbers show that nat cats caused $18bn of insured losses in the first half of 2018, compared to a ten-year average of $35bn. Man-made disaster losses stood at just $2bn, from an average of…

Chubb appoints Amtrust’s Janet Edey head of management liability for UK and Ireland

Chubb appoints Amtrust’s Janet Edey head of management liability for UK and Ireland

Chubb appoints Amtrust’s Janet Edey head of management liability for UK and Ireland

Chubb has appointed Janet Edey as head of management liability for the UK and Ireland. In her new role, Ms Edey will be responsible for leading and overseeing the development and execution of Chubb’s management liability strategy. The appointment is effective immediately and Ms Edey will report to Hilda Toh, financial lines manager for UK and Ireland at Chubb. Ms…

BIBA warns of potential contract continuity problems post-Brexit

BIBA warns of potential contract continuity problems post-Brexit

BIBA warns of potential contract continuity problems post-Brexit

The British Insurance Brokers’ Association (BIBA) has told Commercial Risk Europe there is “concern” that some policies running with a renewal date beyond Article 50’s 29 March 2019 negotiating period may not be valid if no Brexit agreement is reached, with no silver bullet solution…

Marsh names new international and UK client advisory leaders

Marsh names new international and UK client advisory leaders

Marsh names new international and UK client advisory leaders

Marsh has appointed Giampaolo Scarso to the newly created role of client advisory services (CAS) leader for its international division, and named Charlie Netherton as CAS leader UK and Ireland. CAS includes the broker’s global risk consulting, analytics, captive management and claims advocacy support services. Mr Scarso joined Marsh in 2007 and has held a series of leadership roles during…

European heat and drought to cost agriculture sector billions, says Munich Re

European heat and drought to cost agriculture sector billions, says Munich Re

European heat and drought to cost agriculture sector billions, says Munich Re

The heatwaves, droughts and forest fires currently affecting swathes of Europe will cost the agriculture sector billions of dollars with entire harvests lost in some cases, Munich Re warns. According to the reinsurer, the grain harvest in Germany is likely to be down more than 10% on the long-term average as a result of the hot and dry weather. Total…

IUA publishes new Brexit contract continuity clause for subscription market

IUA publishes new Brexit contract continuity clause for subscription market

IUA publishes new Brexit contract continuity clause for subscription market

The International Underwriting Association (IUA) has published a second policy clause to help London market insurers deliver clients contract continuity for policies written on a subscription basis if a no-deal Brexit hits. The IUA, which represents non-Lloyd’s international and wholesale insurance and reinsurance companies in London, said the new clause builds on its original Brexit continuity clause published last month.…

Brexit solutions may not deliver contract continuity as London market lobbies hard for official response

Brexit solutions may not deliver contract continuity as London market lobbies hard for official response

Brexit solutions may not deliver contract continuity as London market lobbies hard for official response

Ensuring insureds have contract continuity in the increasingly likely scenario of a no-deal Brexit is a growing concern, warn London market representatives. They fear that a watertight market solution might not be feasible and are lobbying regulators to come up with an official response. Ongoing disagreement on the Northern Ireland border and lack of consensus within its government on Brexit has…

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