Business interruption
Markel launches FintechRisk+ policy
Markel has launched FintechRisk+ in its second insurance policy development of the week.
Aurora launches commercial combined product
Managing general agent Aurora has launched what it describes as its “flagship” commercial combined product for SMEs.
Ecclesiastical launches product for office-based professions
Ecclesiastical Insurance is launching a new product aimed at office-based businesses providing professional services in response to broker feedback.
Event insurance – how is the sector evolving to meet the changing risk landscape?
While the event sector has rebounded post-Covid, it still faces a host of challenges. Challenges that offer brokers opportunities to help organisers both manage and mitigate risks to soften the blow if they have to cancel or postpone a planned event due…
Ex-insurance broker jailed for pocketing £46k from bouncy castle hire companies and amusement parks
A former insurance broker has been jailed for two years, after he stole £46,125 by editing a wholesale broker’s contracts to increase the cost of premiums paid by his clients, the City of London Police have confirmed.
CFC updates fintech insurance cover
CFC has made a “major overhaul” to its fintech insurance cover in the UK, Canada and Australia, across both professional service and technology exposures.
Uncorking the Great British wine market – the insurance of vineyards
David Harrison, viticulture specialist at NFU Mutual, shares his thoughts on meeting the insurance challenges facing the booming winery and vineyards sector.
Twelve-month indemnity periods for BI are rarely fit for purpose in hospitality
To mitigate issues of underinsurance and ensure coverage adequacy in the hospitality sector, extended indemnity periods should be introduced. Rebecca Webster, broker development lead at McLarens, suggests a minimum of two or three years to cover the…
In Depth: New dimensions in cyber risk
UK businesses are under increasing threat from cyber attack, yet it remains one of the most underinsured risks. Saxon East reports
Chubb rolls out new practice targeting healthtech sector
Chubb has launched a new healthtech industry practice in the UK.
Pool Re treaty modernisation to enable more flexibility for members
Pool Re members and HM Treasury have backed the board’s proposals to transform the government-backed terrorism reinsurer, switching the model of the scheme’s offering in a move the carrier stated would keep it relevant and fit for purpose in the digital…
Chaucer to enter weather insurance market with parametric BI
Chaucer has revealed plans to enter the weather insurance market, starting with a parametric product to cover non-damage business interruption.
MGA launches product to cover EV charging point installation
Legal & Contingency has launched an insurance policy that covers the installation of electric vehicle charging points in England and Wales.
Tokio Marine to acquire MGA brand and staff from Marsh
Tokio Marine HCC International has reached an agreement with Marsh Specialty UK to onboard certain employees of Lavaretus Underwriting.
Waste management and recycling plant insurance – a market short on capacity
Media stories of massive premium hikes highlight issues in the waste management and recycling insurance market.
Heath Crawford payout underlines the perils of underinsurance for brokers
The substantial damages awarded in the recent judgment Infinity Reliance Limited (trading as My 1st Years) v Heath Crawford Limited remind insurance brokers of the perils of underinsurance, with business interruption cover being a particular pitfall…
CFC extends cyber cover for professional services firms
Cyber insurance provider CFC has upgraded its packaged insurance policies for professional services businesses in a move it claimed could be a “game changer” for SMEs that cannot afford standalone cyber cover.
Clear Group strikes first MGA deal
The Clear Group has acquired a 50% shareholding in Thomond Underwriting based in the Republic of Ireland and Northern Ireland, the broker’s first MGA deal.
Brokers should push for 12-month BI indemnity periods to be extended
The 12-month indemnity period in business interruption insurance cover should be consigned to history and replaced with a minimum 18- to 24-month one as standard.
In depth: Why resilience is key to an holistic risk management solution
While overseeing risk continues to be part of the insurance conversation, Martin Friel discovers there is a greater understanding that protecting a business is less about focusing on particular incidents – and more about its resiliency as a whole.
Opinion: Limited or unreliable information can lead to underinsurance
Brokers need to work with policyholders to push for better quality and more frequent surveys to combat underinsurance, argues Paul Mayer, valuations manager at Sedgwick.