Industry News
Munich Re’s Groves, John & Westrup Expands into Private Client Sector
Groves, John & Westrup Ltd. has been a coverholder for Munich Re's Lloyd's syndicate for decades, writing marine, pleasure boat and private yacht insurance. This year, the company branched out ...
Boy Scouts Postpone Bankruptcy Step After Judge Places Legal Fees, Insurer Deal Into Question
Attorneys for the Boy Scouts of America are postponing a key bankruptcy hearing that was scheduled to start this week, following a court ruling that casts uncertainty on the future of the case. ...
Guidewire Acquires HazardHub, an API Property Risks Insight Tech Firm
Guidewire Software recently acquired HazardHub, an InsurTech focused on API-driven property risk insights for the P/C insurance industry. Neither side would disclose financial details. Guidewire CEO ...
South Africa’s State Insurer Will Raise Premiums to Address Riot-Related Reinsurance Costs
South Africa's only insurer covering political violence will increase its premiums to cover a rise in reinsurance costs following some of the worst unrest in decades, the head of the state-owned ...
8 Emerging Risks to Watch: Flooding, Toxins, Solar Panel Waste
Even the most vigilant insurers and reinsurers scanning the risk landscape for potential future liability problems are likely to fall into landmines. What insurance risks of the immediate or distant ...
Cowbell Cyber Starts Using APIs to Broaden Capacity for Cyber Coverage Distribution
Cowbell Cyber has begun using APIs, technology that it said will drastically streamline the distribution of its cyber coverage and expand the company's market reach. "Providing API [application ...
Rate Hikes, Lower COVID-19 Claims Leads to Higher H1 Profits for Europe Reinsurers: Moody’s
The four largest European based reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – reported sharply higher profits in the first half of 2021, compared with the same period in 2020 — as a ...
Russian Insurer Sanctioned by Biden Administration Over Nord Stream 2 Involvement
The Biden administration imposed sanctions on two Russian entities over their involvement in the Nord Stream 2 pipeline project, but is leaving in place a waiver that spared the company overseeing ...