Sompo International reinsurance exits continue with marine and energy head Jansen
Sompo International’s Reinier Jansen is the latest senior underwriting executive to head to the door from the Zurich-based carrier’s reinsurance unit, The Insurer can reveal.
Gallagher: Rates continue upwards push in bulk of power and energy lines
Rate increases in the power and utilities and upstream/midstream insurance markets show little sign of wavering with carriers continuing to push for improvements, Gallagher has outlined in a new report.
Power insurers “spooked” by PNW fires as capacity concerns mount
Last year’s wildfires in the Pacific Northwest (PNW) have “spooked” US power liability insurers with underwriters growing increasingly wary of providing coverage and fears growing that carriers could exit entirely should losses worsen, Aon’s Christine Palomba has warned.
Insurer consortium launches CyberAcuView to improve risk mitigation
A group of insurers including AIG, Axis, Beazley, Chubb, The Hartford, Liberty Mutual and Travelers have supported the launch of CyberAcuView, a company dedicated to enhancing cyber risk mitigation efforts across the industry, with former AIG executive Mark Camillo as CEO.
US power casualty rate rises weaken as new markets enter sector
Bermuda and London markets continue to push for casualty rate increases on US power business but new entrants into the sector over the past year mean those price rises are now trending considerably lower than in 2020, according to Aon’s Christine Palomba.
Miller strengthens CPRI team with Mellor hire
Miller has added to its London-based credit and political risk insurance (CPRI) team with the hire of Farris Mellor from Price Forbes.
Sompo International reinsurance exits continue with marine and energy head Jansen
Sompo International’s Reinier Jansen is the latest senior underwriting executive to head to the door from the Zurich-based carrier’s reinsurance unit, The Insurer can reveal.
Gallagher: Rates continue upwards push in bulk of power and energy lines
Rate increases in the power and utilities and upstream/midstream insurance markets show little sign of wavering with carriers continuing to push for improvements, Gallagher has outlined in a new report.
Power insurers “spooked” by PNW fires as capacity concerns mount
Last year’s wildfires in the Pacific Northwest (PNW) have “spooked” US power liability insurers with underwriters growing increasingly wary of providing coverage and fears growing that carriers could exit entirely should losses worsen, Aon’s Christine Palomba has warned.
Insurer consortium launches CyberAcuView to improve risk mitigation
A group of insurers including AIG, Axis, Beazley, Chubb, The Hartford, Liberty Mutual and Travelers have supported the launch of CyberAcuView, a company dedicated to enhancing cyber risk mitigation efforts across the industry, with former AIG executive Mark Camillo as CEO.
Panel: Reinsurers looking “carefully” at cyber ceding commissions
Catherine Mulligan, global head of Aon’s Reinsurance Solutions cyber practice group, has commented that reinsurers are carefully assessing cyber pricing adequacy in light of the soaring number of ransomware attacks, with the executive also noting “big increases in demand for non-proportional structures”.
Aon: US standalone and package cyber both saw record loss ratios in 2020
Aon has revealed that US cyber insurers reported record loss ratios in 2020 and the market’s premium has doubled in the past five years, as the firm also called on the National Association of Insurance Commissioners (NAIC) to make cyber a standard reporting line in the insurance annual statement.