Pool Re given greenlight to cover non-damage business interruptionUK terrorism mutual Pool Re is to provide cover for non-damage business interruption following royal assent being granted to the Counter-Terrorism and Border Security Bill 2018 today.
QBE pulls back on Lloyd’s Asia platformQBE has revealed it will cease trading marine, energy, political violence and terrorism on the Lloyd’s Asia platform by the end of the year.
Brexit: London maintained Extremus participations at 1.1Almost every Lloyd’s and London market participant on the Eur2.5bn reinsurance treaty for the German terror pool Extremus Versicherung maintained their participations at 1.1 despite the uncertainty over Brexit.
MIB secures £400mn treaty for motor terrorism coverThe UK’s Motor Insurers’ Bureau (MIB) has successfully completed its inaugural placement of its £400mn ($514mn) treaty for motor terrorism coverage, The Insurer can reveal.
Pool Re to finally test ILS appetite with £75mn UK terror cat bondUK terrorism mutual Pool Re has formally approached ILS investors to support a potentially groundbreaking terrorism triggered cat bond after working on the project for almost a year.
Pool Re returns contingency terror cover to commercial marketUK terror mutual Pool Re will cease to reinsure its members for the contingency cover it provides to insureds due to sufficient capacity now existing within the commercial insurance and reinsurance markets.
Berkshire Hathaway exits Hong Kong terrorism poolBerkshire Hathaway has withdrawn from an employees’ compensation terrorism pool in Hong Kong.
Markel taps Axis for war and terrorism underwriterMarkel has appointed Tom Simpson as a war and terrorism underwriter.
MIB members vote in favour of expanding terrorism liability coverageMembers of the UK’s Motor Insurers’ Bureau (MIB) have voted in favour of widening cover to include vehicles used in UK terrorist attacks following the decision by traditional motor reinsurers to threaten withdrawing cover at year-end.
UK Gov supports motor terrorism move as vote deadline loomsThis week is crunch time for the UK’s Motor Insurers’ Bureau (MIB) as it looks to widen coverage to include vehicles used in UK terrorist attacks.
Aon and Chubb launch Lloyd’s terrorism and political violence facilityBroking house Aon and (re)insurer Chubb have collaborated to create a stand-alone terrorism and political violence solution at Lloyd’s, the two companies announced today.
MS Amlin taps Aon for war underwriterMS Amlin has appointed Brecht van Hoorebeke as a war underwriter, it announced today.
Pool Re’s Enoizi identifies areas to widen remitThe chief executive of UK terror mutual Pool Re has identified key areas where the organisation can bridge the gap between the private terrorism market and public coffers.
Pool Re’s ambitions to extend cover progresses through parliamentEfforts by Pool Re to extend its coverage to include non-physical damage business interruption have moved a step closer to success as a bill that would grant the terror mutual authority to write the cover was read in parliament today (7 June).
State-backed pools 'crucial' to developing terrorism market: JLTRisk pooling with state-backed funds presents a “unique opportunity” for the terrorism market to close the protection gap for emerging risks from emerging triggers such as cyber and non-property damage threats, according to JLT.
London market pledges £1mn for Bishopsgate bombing commemorationInsurers and brokers from across the London Market have committed to raising £1mn ($1.4mn) to commemorate the 25th anniversary of the IRA Bishopsgate bombing.
MIB moves forward with terrorism liability cover – but what are the alternatives?As the UK’s Motor Insurers’ Bureau (MIB) takes steps to widen coverage to include vehicles used in UK terrorist attacks, re-Insurance.com explores the different options the (re)insurance market could offer.
Pool Re and Guy Carp lead Bishopsgate bombing anniversary line slipNext week marks 25 years since the Bishopsgate bombing, with carriers and brokers from the London market commemorating the event by once again coming together to support a local cause.
Pool Re given UK government go-ahead to cover non-damage BI lossesThe UK government’s decision to amend the 1993 Reinsurance (Acts of Terrorism) Act will enable Pool Re to extend its cover to include non-damage business interruption losses resulting from acts of terrorism.
Liberty expands terrorism business into EuropeLiberty Specialty Markets (LSM), part of Liberty Mutual Insurance, has expanded the footprint of its terrorism business beyond London by creating a role for a Paris-based terrorism underwriter.