The British government is expected to announce an insurance scheme in the coming weeks for live events, including festivals, theater and sports, to allow them to go ahead despite the pandemic, insurance industry sources said. Insurers have since last year …
Everest Insurance announced that its sports, leisure and entertainment division, previously known as Specialty Insurance Group (SIG ), has been rebranded as EverSports & Entertainment Insurance. EverSports & Entertainment Insurance will continue to offer primary and excess liability, commercial automobile, …
The U.S. inland marine insurance segment experienced a “significant downturn in profitability” in 2020, with its loss ratio deteriorating by nearly 16 percentage points amid the COVID-19 pandemic, according to an AM Best report. The Best’s Market Segment Report, “Significant …
In the early months of the pandemic last year, brokers just couldn’t place insurance for the entertainment industry. In late February 2020, underwriters began excluding communicable disease from all of the underlying production insurance policies. No insurer wanted to touch …
Michael Furtschegger has been appointed as global head of Entertainment at Allianz Global Corporate & Specialty (AGCS), reporting directly to Dr. Renate Strasse, AGCS SE board member and chief underwriting officer specialty. Based in Munich, Furtschegger has led the global …
LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are …
Allianz SE, Europe’s largest insurer, is bracing for a flood of claims after movie and television studios were forced to curtail production during lockdown. A unit of Allianz, which says it’s the largest insurer of Hollywood studios, has set aside …
British theaters and live music venues say the show will only go on if the government provides a financial backstop, as the COVID-19 pandemic means they can no longer get commercial insurance. While venues for indoor live performances are not …
Entertainment insurance provider SpottedRisk has acquired Media Guarantors, a specialized managing general underwriter focused on completion bonds for the film industry. West Hollywood, Calif.-based Media Guarantors, launched in 2018, has been a subsidiary of Cast & Crew, a payroll, human …
Global insurance broker Marsh has created a dedicated Sport, Entertainment & Media (SEM) industry group in the United Kingdom and Ireland. Led by global events specialist Richard Tolley, the group brings together 60 client management, technical, placement and risk management …
