The Chinasat 18 communications satellite i

Space market faces $250mn Chinasat loss

2019-08-22T10:30:00+01:00

The beleaguered space market is facing a possible $250mn loss as a result of post-launch problems with a China Satcom (Chinasat) satellite, The Insurer can reveal.

Smaje and Chad

BGCI continues aviation build out with three more hires

2019-08-21T10:55:00+01:00

BGC Insurance (BGCI) has continued to build out its ambitious aviation and aerospace broking start-up with three more hires from MMC, The Insurer can reveal.

Marsh – Oil refinery and Wind farm

Marsh makes appointments to energy and power leadership team in North America

2019-08-21T14:33:00+01:00

Marsh has appointed fresh leadership to its US and Canada energy and power business with Amy Barnes promoted to lead the US and Canada region and Brad Vescarelli to lead Canada.

CAC Specialty

Cobbs Allen names new specialty broking unit, reveals more JLT hires

2019-08-16T15:10:00+01:00

Cobbs Allen has announced its new specialty insurance brokerage and investment banking platform is called CAC Specialty, along with a slew of new hires from McGriff Seibels & Williams and JLT Specialty USA.

intact-financial

Intact buys specialty insurer and MGU from Princeton Holdings for C$1bn

2019-08-15T21:02:00+01:00

Intact Financial has agreed to pay C$1bn ($750mn) to acquire Canadian specialty lines insurer The Guarantee Company of North America and managing general agent Frank Cowan from Princeton Holdings.

Cyber Security

Marriott has recovered $93mn of cyber insurance so far

2019-08-15T16:43:00+01:00

Marriott International, which suffered a large data breach last November, has revealed in a 10-Q filing that it had recovered $93mn from its cyber insurance policy as of the end of June and had renewed its insurance at higher cost.

Marsh – Oil refinery and Wind farm

Marsh makes appointments to energy and power leadership team in North America

2019-08-21T14:33:00+01:00

Marsh has appointed fresh leadership to its US and Canada energy and power business with Amy Barnes promoted to lead the US and Canada region and Brad Vescarelli to lead Canada.

Marine, cargo ships

Swiss Re Corporate Solutions stops writing cargo as marine retrenchment gets underway

2019-08-12T12:13:00+01:00

Swiss Re Corporate Solutions (SRCS) has stopped accepting cargo business, following this publication revealing the carrier planned to withdraw from writing the class on 1 August.

Trans Mountain

Activists urge 27 CEOs to withdraw insurance from Trans Mountain Pipeline

2019-08-08T16:52:00+01:00

A coalition of 32 environmental, indigenous and citizen groups has targeted the CEOs of 27 insurers in the latest attempt to cancel policies covering the Canadian Trans Mountain Pipeline oil project, ahead of its 31 August renewal date.

Cyber Security

Marriott has recovered $93mn of cyber insurance so far

2019-08-15T16:43:00+01:00

Marriott International, which suffered a large data breach last November, has revealed in a 10-Q filing that it had recovered $93mn from its cyber insurance policy as of the end of June and had renewed its insurance at higher cost.

Arch

Arch sues to avoid paying USC molestation claims

2019-08-13T21:08:00+01:00

Arch Specialty Insurance is seeking a declaration that its excess policies issued to the University of Southern California (USC) exclude cover for the alleged sexual abuse of hundreds of students by a gynaecologist that worked in the campus clinic.

NFP

NFP hires another former JLT exec for financial institutions group

2019-08-08T22:38:00+01:00

Expansive private equity-backed broker NFP has added another former JLT Specialty USA executive to its ranks with the hire of financial institutions specialist Natasha Kiemnec.

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