Marsh’s Doyle warns of pricing “domino effect” from Tripra non-renewal
At a US House Financial Services hearing, Marsh president and CEO John Doyle has urged reauthorisation of the federal terrorism risk insurance programme and warned that insurance availability will fall as the deadline looms.
MMC’s Humphreys and Robinson land at RKH Specialty
RKH Specialty has appointed Jason Humphreys and Alex Robinson to its London-based aviation unit.
Q4 airline exits accelerate MS Amlin run-off plans
MS Amlin placed its aviation book into immediate run-off after airline clients elected to find alternative capacity at the start of the critical fourth quarter renewal period, The Insurer can reveal.
Axa XL replaces UK energy head Prato with Welton
Axa XL has named Peter Welton its new UK head of energy, replacing Luis Prato, who was promoted to chief underwriting officer for UK legal entities in September.
MS Amlin places aviation book into run-off
MS Amlin has confirmed it will be exiting the aviation market and will place its current book into run-off, effective from 14 October when it will cease underwriting aviation renewals or new business.
ARPC’s Wallace to replace Vilnet as IFTRIP president; launches Washington 2020
Chris Wallace, the CEO of the Australian Reinsurance Pool Corporation (ARPC) is set to become the next president of the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP), replacing long-serving president Francois Vilnet.
Axa XL replaces UK energy head Prato with Welton
Axa XL has named Peter Welton its new UK head of energy, replacing Luis Prato, who was promoted to chief underwriting officer for UK legal entities in September.
OCIL’s Kirk departs
Long serving energy underwriter Graham Kirk has left Bermudian carrier Oil Casualty Insurance Limited (OCIL) after the best part of two decades with the carrier, The Insurer can reveal.
Hull writers far short of technical rate despite capacity exodus
Brokers report the hull and machinery market continues to harden following the recent withdrawals of capacity from Axis, Argo and Swiss Re, and that marine insurers are facing an $80mn loss from the Golden Ray capsize last month.
North American business leaders fear cyber attacks most: WEF
American and Canadian executives have identified cyber attacks as the biggest threat to doing business for the second year in a row, while leaders around the world ranked cyber as the second-most prevalent business risk.
Cyber tops business concerns in Travelers Risk Index
Cyber risks came out top of the list of concerns among businesses of all sizes for the first time since the launch of the Travelers Risk Index five years ago.
Insurers “gaining control” over silent cyber: Willis Re
Expectations of claims related to cyber losses under insurance policies not specifically designed to cover cyber risks have fallen compared to this time last year, across all commercial business lines and industry groups.