Ex-JLT aerospace exec Klevens returns to Willis Towers Watson
Former JLT Specialty USA aerospace president Jason Klevens is set to join Willis Towers Watson after this publication revealed the executive declined a move to rival AJ Gallagher.
Axa XL among insurers facing loss from Girard Point refinery fire
The under-pressure downstream energy market could face substantial losses as a result of a massive fire and a series of explosions at Philadelphia Energy Solutions’ (PES) crude oil refinery in Philadelphia, The Insurer can reveal.
American Club swings to $5.5mn loss in 2018
International Group member American Club booked a net loss of $5.5mn for the year ended 31 December 2018, after turning a profit of $5.7mn the prior year, as the insurer saw claims swell in what was a challenging year.
MMC calls on lawmakers to reauthorize US terrorism backstop
Marsh property terrorism placement and advisory leader Tarique Nageer has testified on Capitol Hill highlighting the importance of the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), which is due to expire at the end of next year.
Why one cyber expert believes Zurich will pay Mondelez’s $100mn loss
A panel on cyber war and terrorism suggested the issue of attribution may mean Zurich will have to pay Mondelez’s $100mn NotPetya claim, while work is underway to make intent to pay losses in similar situations clearer in policies.
BGC lands JLT’s Chad to launch new global aviation broker
BGC’s insurance arm – which owns broking houses Besso and Ed – has hired aviation executive Marcel Chad to launch a new global aviation and aerospace (re)insurance intermediary.
Axa XL among insurers facing loss from Girard Point refinery fire
The under-pressure downstream energy market could face substantial losses as a result of a massive fire and a series of explosions at Philadelphia Energy Solutions’ (PES) crude oil refinery in Philadelphia, The Insurer can reveal.
American Club swings to $5.5mn loss in 2018
International Group member American Club booked a net loss of $5.5mn for the year ended 31 December 2018, after turning a profit of $5.7mn the prior year, as the insurer saw claims swell in what was a challenging year.
Kadow takes over as AGCS marine and energy head as Buxton departs
AGCS has promoted Ulrich Kadow to global head of marine, taking over responsibility for the carrier’s global marine portfolio from Simon Buxton, who is leaving Allianz to “pursue other opportunities outside the company”.
Why one cyber expert believes Zurich will pay Mondelez’s $100mn loss
A panel on cyber war and terrorism suggested the issue of attribution may mean Zurich will have to pay Mondelez’s $100mn NotPetya claim, while work is underway to make intent to pay losses in similar situations clearer in policies.
US cyber claims growth outpacing policy growth – AM Best
An AM Best report has revealed that cyber claims growth greatly exceeded in-force policy growth in 2018 but the rating agency believes the line still represents a positive opportunity for insurers.
Aspen launches cyber risk management platform
Aspen Insurance has released a cyber risk management platform called SSIMPLE to assist clients in the prevention and detection of and response to privacy and network security incidents.