Lloyd’s CEO praises Fidelis, Aon & Marsh for efforts to keep modern slavery out of supply chain

The CEO of Lloyd’s John Neal has written to the market praising a recent initiative by Fidelis, as well as Aon and Marsh, to keep the products of modern slavery out of the export supply chain, The Insurer can reveal.

Fri 10 Jul 2020

Eiopa warns insurers over Covid-19 impact on product value

The European Union’s supervisory body has warned member states’ carriers to offer remedial action to customers over insurance products that have been affected by Covid-19.

Fri 10 Jul 2020

AM Best downgrades Kingstone to B++ after reinsurance limit reduction

Kingstone Insurance Company’s move to buy less cat reinsurance in the hardening market has led AM Best to cut the Northeast regional insurer’s rating from the A-range.

Fri 10 Jul 2020

Talbot names Barton CFO

AIG-owned Talbot Underwriting has appointed Catherine Barton as chief financial officer (CFO), effective 28 September 2020.

Fri 10 Jul 2020

Former RFIB Africa CEO Ellis re-emerges at Lloyd’s broker MNK Re

Former RFIB Africa CEO Lee Ellis has re-emerged at Lloyd’s broker MNK Re as managing director of its international treaty division, The Insurer can reveal.

Fri 10 Jul 2020

ICA pegs summer cats losses at $3.7bn

Insured losses across Australia stemming from summer catastrophe events now stands at A$5.3bn ($3.69bn), according to the Insurance Council of Australia (ICA).

Fri 10 Jul 2020

RSA fights back in shareholder suit

London-listed RSA told the UK’s High Court its senior management team had no knowledge of an accounting scandal at its Irish subsidiary as the insurer seeks to fend off a legal suit brought by a number of investors over the fall in the carrier’s share price.

Fri 10 Jul 2020

ABI chair and deputy chair to remain until summer 2021

The Association of British Insurers (ABI) has confirmed that board chair Jon Dye, CEO of Allianz Insurance, and deputy chair Julian Adams, director of public policy and regulation at M&G plc, have agreed to extend their current roles to summer 2021.

Fri 10 Jul 2020

Lloyd’s focuses on core US reinsurance and E&S as it gives up admitted licenses

Lloyd’s is giving up its admitted licenses in Kentucky, Illinois and the US Virgin Islands (USVI) as it strengthens its focus on the US reinsurance and excess and surplus lines (E&S) markets from which it derives the vast majority of its premium volume in the world’s largest insurance market.

Fri 10 Jul 2020

Neptune Flood’s Podcast: Bryan Falchuk, Author of “The Future of Insurance” (June 2020)

Fri 10 Jul 2020

SA Court rules against insurer in Covid-19 BI dispute based on UK wordings

A South African court has sided with a small business owner against its insurer, in what is thought to be the one of the first tests of Covid-19 causation and liability under Common Law principles and using UK insurance wordings.

Fri 10 Jul 2020

Atradius names Burgess head of UK commercial

Trade credit insurer Atradius has promoted James Burgess to head of UK commercial with effect from 01 July 2020.

Fri 10 Jul 2020

QBE’s Regan: breadth of wording driving FCA test case frustrations

The breadth of wording in UK business interruption policies is what makes the FCA High Court test case stand out from other jurisdictions on this point, said Pat Regan, chief executive of QBE Insurance Group.

Fri 10 Jul 2020

Everest Insurance makes casualty claims head hire from Blackboard

Louis Manger, who previously worked at AIG’s recently shuttered Blackboard Insurance unit, has joined Everest Insurance as head of casualty claims.

Fri 10 Jul 2020

AM Best goes negative on Erie

AM Best has revised its outlook on the ratings of members of Erie Insurance Group from stable to negative as it pointed to the impact of weather-related losses on operating performance.

Fri 10 Jul 2020

CBIZ picks up Virginia agency Prince-Wood Insurance

CBIZ has acquired substantially all of the assets of Prince-Wood Insurance (PWI), an agency based in Woodbridge, Virginia.

Fri 10 Jul 2020