Allianz Global Corporate & Specialty (AGCS) News

Cyber Risk Ranks as Most Feared BI Trigger for Global Firms: Allianz

Business interruption (BI) and cyber incidents interlink as the major threat facing companies, according to a report published by Allianz Global Corporate & Specialty (AGCS). Allianz revealed that BI — including supply chain disruption — ranks as the most important …

Allianz Acquires Liberty International’s U.S. Product Recall Business Renewals

Allianz Global Corporate & Specialty (AGCS) is acquiring the renewal portfolio of Liberty Mutual Insurance’s U.S. product recall and special contingency business. The effective date is Jan.30, 2018. The business being acquired was written through Liberty International Underwriters (LIU) U.S., …

Cyber Incidents Most Feared BI Trigger for Global Companies: Allianz Risk Report

Business interruption and cyber incidents interlink as the major threat facing companies over the coming year, according to a report published by Allianz Global Corporate & Specialty (AGCS). Allianz revealed that business interruption – including supply chain disruption – ranks …

AGCS Names Vissing to Succeed Henson as Head of Claims, Regional Unit London

Allianz Global Corporate & Specialty (AGCS), Allianz Group’s specialist corporate insurer, has appointed Lars Vissing as Regional Unit London (RUL), head of Claims, starting in February 2018. Vissing succeeds Martin Henson who retires after nearly 20 years with Allianz. Based …

Allianz Specialty for North America Promotes Haagen, Soja as Barnwell Retires

Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) announced that effective December 31, Henning Haagen will take over as North American regional head of Specialty Lines, and Rich Soja will become the North American regional head of …

Technology, Regulation Prove Double-Edged Swords in Product Recall Risk

Exploding Samsung phones, error-prone Takata airbags, faulty GM vehicle ignition switches, failing Johnson & Johnson hip implants — multi-billion dollar product recalls have become more common over the past decade. According to one insurer, product-related risk is one of the …

AGCS Promotes Virji to Lead UK Cyber Team; Yu from Principia Named Senior U/W

Allianz Global Corporate & Specialty (AGCS) announced that Yogesh “Yogi” Virji has been promoted to lead the UK cyber team. In addition, Hui Yu will join the UK team as a senior underwriter in the new year. These two underwriting …

Schiavone Takes Over Allianz Global Specialty’s Alternative Risk Team; Coppola to Head Financial Lines

Paul Schiavone has been appointed as global head of Allianz Global Corporate & Specialty’s Alternative Risk Transfer (ART) business, taking over from Bill Guffey who is leaving Allianz for other opportunities after 15 years at the company. Laura Coppola takes …

Allianz to Offer Small Business Cyber Risk Management Services Through Zeguro

Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has partnered with Silicon Valley-based software company Zeguro, to address cyber security and risk management for small to medium-sized businesses (SMBs). Through its platform, Zeguro will serve as a …

Allianz Develops Blockchain Prototype for Captive Insurance Program

Allianz Global Corporate & Specialty SE (AGCS) has successfully trialed blockchain technology for a global captive insurance program, which facilitates cash transfers between countries. AGCS’s Allianz Risk Transfer (ART) business has teamed up with EY (Ernst & Young) as blockchain …