A court order that requires Sherwin-Williams Co. to pay $101 million into a lead paint abatement fund amounts to “damages” that are recoverable through a Lloyd’s of London insurance policy, an Ohio appellate court ruled last week. The Eighth Appellate …
Westfield said it has expanded into the international specialty insurance market by buying Lloyd’s Syndicate 1200 from Argo Group International Holdings for about $125 million. The acquisition is expected to close during the first half of 2023 pending regulatory approval. …
Lloyd’s of London will pay staff earning less than £75,000 ($86,306) an extra £2,500 to help cover rising living costs as UK inflation hits multi-decade highs. John Neal, chief executive officer at the insurance exchange, said he wrote to staff …
Sompo International, the Bermuda-based provider of commercial and consumer property and casualty re/insurance, announced the sale of its Endurance at Lloyd’s (EAL) run-off business to RiverStone Holdings Ltd., the legacy specialist. The deal completes the company’s previously communicated objective to …
Broker Marsh and Lloyd’s of London insurer Ascot said on Tuesday they have provided coverage for a vessel carrying grain and food products from Ukraine’s Black Sea ports under its new marine cargo and war insurance facility. Launched last month, …
Lloyd’s insurers must exclude state-backed cyber-attacks in standalone (or affirmative) cyber policies if they reach a catastrophic threshold, according to a Lloyd’s market bulletin issued this week. However, the exclusion would include liability for losses arising from both war- and …
Beazley has been granted “in principle” approval from Lloyd’s to transition its Smart Tracker Special Purpose Arrangement (SPA) 5623 to a full syndicate with effect from the Jan. 1, 2023, subject to Lloyd’s agreement of the syndicate business plan and …
When the going gets tough, the tough get going. That might be the most apropos slogan for Axe Insurance Group. The logging industry may be about as tough of a business as one will find. Not only is it well-known …
Two more ships, carrying corn and soybeans, departed from Ukrainian Black Sea ports on Monday, Turkey and Ukraine said, taking the total to ten since the first ship sailed last week under a deal with Russia to unblock Ukrainian grain …
Lloyd’s announced it has received regulatory approval to set up a second protected cell company (PCC), which aims to enhance market accessibility for investors – a key deliverable of the Future at Lloyd’s project. Lloyd’s previously announced a number of …
