Jason Klevens – WTW

Ex-JLT aerospace exec Klevens returns to Willis Towers Watson

2019-06-25T10:13:00+01:00

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.

Girard point oil refinery – AXA XL

Axa XL among insurers facing loss from Girard Point refinery fire

2019-06-21T20:16:00+01:00

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.

marine cargohull small

American Club swings to $5.5mn loss in 2018

2019-06-21T13:36:00+01:00

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.

US government. Washington

MMC calls on lawmakers to reauthorize US terrorism backstop

2019-06-18T19:55:00+01:00

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.

Zurich and Mondelez International

Why one cyber expert believes Zurich will pay Mondelez’s $100mn loss

2019-06-18T15:06:00+01:00

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.

Marcel Chad – BGC

BGC lands JLT’s Chad to launch new global aviation broker

2019-06-17T11:14:00+01:00

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.

Girard point oil refinery – AXA XL

Axa XL among insurers facing loss from Girard Point refinery fire

2019-06-21T20:16:00+01:00

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.

marine cargohull small

American Club swings to $5.5mn loss in 2018

2019-06-21T13:36:00+01:00

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.

Ulrich Kadow – AGCS

Kadow takes over as AGCS marine and energy head as Buxton departs

2019-06-13T10:19:00+01:00

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”.

Zurich and Mondelez International

Why one cyber expert believes Zurich will pay Mondelez’s $100mn loss

2019-06-18T15:06:00+01:00

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.

AM Best Cyber security

US cyber claims growth outpacing policy growth – AM Best

2019-06-17T16:28:00+01:00

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 – Cyber security

Aspen launches cyber risk management platform

2019-06-14T15:46:00+01:00

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.

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