Africa Specialty Risks Launches ASR Syndicate 2454 at Lloyd’s
Africa Specialty Risks (ASR), the pan-African focused re/insurance group, has launched ASR Syndicate 2454 focused on underwriting business across Africa. It is the first African-focused syndicate writing business at Lloyd’s and is managed by Apollo. ASR Syndicate officially began underwriting …
POSTED APRIL 29, 2024 10:51 AM |
Amboss Underwriting Assumes Oilfield Insurance Agencies’ Downstream Portfolio
Zurich-based Lloyd’s coverholder Amboss Underwriting has assumed the portfolio of the Zurich branch of Oilfield Insurances Agencies. Effective April 17, 2024, the announcement marks the commencement of Amboss’ operations in Zurich and Amsterdam. Amboss has received approval from Lloyd’s of …
POSTED APRIL 29, 2024 10:32 AM |
Shadow-Fleet Oil Tanker That Crashed Had Void Western Insurance
A shadow-fleet oil tanker that crashed in Denmark’s vital straits produced a set of insurance documents that weren’t valid, a stark example of how there’s little clarity about who would pay the bill if such a ship had a major …
POSTED APRIL 29, 2024 9:51 AM |
Markets/Coverages: Marsh Expands Cyber Facility ECHO, Offering Up to $125M of Excess Insurance Capacity
Marsh, the insurance brokerage business of Marsh McLennan, announced an additional $25 million layer of capacity to its existing $100 million Cyber ECHO facility. Available to Marsh clients globally, Cyber ECHO now offers up to $125 million of excess cyber …
POSTED APRIL 29, 2024 9:19 AM |
RBNZ Says Insurance May Become Unaffordable for High-Risk Homes
New Zealanders who own properties in areas prone to flooding or earthquakes may find they can’t afford insurance or may not be offered cover for specific risks, according to the Reserve Bank. Rising premiums or the inability to insure are …
POSTED APRIL 29, 2024 7:08 AM |
US tests show pasteurized milk safe as bird flu spreads
Additional tests of milk showed that pasteurization killed the bird flu virus, federal health officials said on Friday, as Colorado became the ninth U.S. state to report an infected dairy herd. Federal lawmakers urged the Biden administration to further contain …
POSTED APRIL 29, 2024 5:18 AM |
30% of Business Leaders Say Global Political Risk Is Their Biggest Threat
Sixty-five percent of North American business leaders fear this election year will impact their ability to trade internationally, with 32% of U.S. leaders saying political risk is their number one threat. In January, Beazley surveyed over 3,500 business leaders in …
POSTED APRIL 29, 2024 5:09 AM |
Insurers Get Green Light to Pay Less Than Billed Charges in Florida PIP Cases
The Florida Supreme Court has given auto insurers more flexibility in reducing payments for medical services under the state’s no-fault auto insurance law and may have finally put to rest years of questions about the much-debated statute. In answering a …
POSTED APRIL 29, 2024 5:01 AM |
People Moves: Lara Makes Appointments to California Curriculum Board and Insurance Diversity Task Force
California Insurance Commissioner Ricardo Lara made several appointments to the state’s curriculum board and insurance diversity task force. Lara named Aretha Hartley as the newest member of the curriculum board. The curriculum board oversees the development of pre-licensing and continuing …
POSTED APRIL 29, 2024 5:00 AM |
First Full-Size Vessel Reaches Baltimore Refinery Since Bridge Collapse
A full-size vessel carrying raw sugar was able to navigate through the 20-foot deep temporary channel at the U.S. Patapsco River on Wednesday and reach the Port of Baltimore for the first time since an accident blocked access to the …
POSTED APRIL 29, 2024 5:00 AM |