Markets/Coverages News

Chubb Upgrades Cyber Index, Adds International Data

Chubb has enhanced its proprietary Chubb Cyber Index with upgraded features designed to help identify a range of global cyber threats based on an organization’s industry and size. The new tool also offers cost analysis, insights on cyber insurance limits …

CRESTA Updates Risk Accumulation Zones for 2019, Launches Website

CRESTA, the insurance industry organization that provides a standard global system of risk accumulation zones, has announced the release of the CRESTA Zones 2019, which includes updated information for 137 countries, and the launch of a new CRESTA website. Set …

Venture Insurance Programs Creates Small Business Online Platform

Venture Insurance Programs, a national insurance program administrator, has unveiled Venture Small Business โ€“ a new business unit designed to simplify how agents and brokers quote and bind business for more than 150 classes of business. According to Phillip J. …

BHSI Names 3 Product Line Leaders in Spain, Hired from RSA, Chubb and Allianz

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has filled three key leadership positions in Madrid, naming Diego Espinosa as head of Property, Juan Madrid as head of Casualty, and Tomรกs Blas as head of Technical Lines. Espinosa comes to …

London-Based MGA Castel Specialty Enters Construction and Engineering Market

Castel Specialty, the London-based division of club-style MGA formation platform Castel Underwriting Agencies Ltd., has entered the construction and engineering market, primarily focused on the UK, North America, Australia, Canada and other key territories. Heading up the new offering is …

EU-Based Britons Fuel Growth in Healthcare Insurance as Post-Brexit Fears Grow

Some Britons living in the Europe Union are worried about losing access to free healthcare after Brexit, opening up a potentially lucrative new market for European health insurers. “I am indebted to France for my life,” said Beryl Roberts from …

Great American Launches Admitted Cyber Product for Small, Medium-Sized Businesses

Great American Insurance Group has launched an admitted cyber risk insurance product, the Risk e-Business Cyber Loss & Liability Insurance Policy featuring two insuring agreements and only 13 exclusions. According to Betty Shepherd, Divisional senior vice president of Great American …

Blockchain Initiative, B3i, Deploys Cat Excess of Loss Product for January Renewals

B3i announced it has released the latest version of its property catastrophe excess of loss (XoL) reinsurance application in time for the January 2020 renewals. The product enables customers and their counterparties to negotiate terms, agree on rates and complete …

Price Forbes Launches U.S. Healthcare Practice Headed by JLT Hires

London-based specialty broker Price Forbes has launched a U.S. healthcare practice headed by market veterans Paul Voller and David Fairbank, who are joining from JLT Group. Based out of London the practice will focus on the U.S. healthcare sector arranging …

MS Amlin Exits Aviation Insurance Market

MS Amlin, the London-based re/insurer and subsidiary of MS&AD, confirms its exit from the aviation insurance market, effective from Oct. 14 when it will cease underwriting aviation insurance renewals or new business. This change excludes the aviation hull war portfolio …