Reinsurance
Executives On The Move at Lockton Re and Guy Carpenter
Lockton Re hired an executive who will focus on Global Retrocession & Property Specialty, Bermuda and Market Capital. Guy Carpenter & Company appointed a new Head of UK & Ireland Motor ...
Reinsurance Broker Acrisure Re Partners With Kovrr on New London-Based Cyber Division
Reinsurance broker Acrisure Re has launched a London-based cyber division in partnership with cyber risk modeler Kovrr. Headed by Cyber Practice Leader Tom Quy, the new division will offer the market ...
FBI Director Cautions Companies Not to Pay Attackers in Ransomware Incidents
Companies and organizations that are victims of ransomware attacks shouldn't pay hackers to unlock their data and should quickly contact law enforcement, which opens up the possibility of creative ...
U.S. Insurers Slammed in May by Hail, Tornado, Wind and Floods
Many U.S. insurers face a multi-billion-dollar payout from May's convective storms, which spawned extensive hail, tornado, wind and flood damage across a series of separate events during the month, ...
We Can Work It Out: Negotiations Likely On COVID Reinsurance Losses
Catastrophe excess of loss reinsurance contracts "never anticipated an event like a pandemic" when written but cedents can still expect compromises from reinsurers, an industry executive said ...
AXA Reverses Course, Offering Settlement Addressing COVID-19 BI Claims for French Restaurant Owners
AXA has offered a settlement to 15,000 French restaurant owners that purchased non-damage business interruption insurance after previously denying coverage during the 2020 COVID-19 lockdowns. AXA ...
Insurers Could Spend $20B to Implement New International Financial Reporting Standard: WTW Survey
Global insurers face a hefty price tag to implement a new international financial reporting standard, according to a new Willis Towers Watson survey. The global insurance industry will spend between ...
Insurers Accelerate Their Flight to the Cloud: Novarica
Insurers are largely planning to expand their cloud usage into new areas in the coming months, according to a new Novarica study. Approximately 75 percent of insurers said they would expand their use ...