Category: News

Otonomi Insurance Services LLC, a licensed managing general agent, Tag-N-Trac, and Solent Freight Services have together launched a parametric cargo protection programme, TRACinSURED, to cover perishable cargo. The solution combines Tag-N-Trac’s AI-powered, infrastructure-independent real-time data, Otonomi’s delay and visibility data, and Solent’s air freight network, so covered events can be verified and settled quickly and…

Icen Risk, a specialist transactional risk insurer, has strengthened its North American Tax Liability Insurance team with the appointments of Hannah Tucker and Courtney Johnson. The company said the hires support its plans to grow its presence in the region and broaden the specialist expertise available to clients and brokers. Icen Risk said the appointments…

More than 300 Russia-linked cyber incidents have affected UK-headquartered companies since 2022, according to CyberCube data cited in a new report on the economic cost of Russian hostile activity against the UK. What’s more, this figure is likely a significant undercount, given that attribution is difficult and businesses under-report incidents. CyberCube’s findings, featured in The…

CatIQ, a Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has released its initial industry loss estimate for the severe storm outbreak that affected southern Ontario, including Toronto, on 2 and 3 September 2026, placing insured losses at CAD 563 million. On 2 and 3 September, a late-season severe storm outbreak…

Companies are increasingly experiencing a sharp increase in business interruption losses, with average claims exceeding €850,000, around 70% higher than the average associated property damage claim, according to a new analysis from Allianz Commercial. With the average property damage claim coming close to €500,000, the data demonstrates that the financial consequences of operational downtime can…

Relm Insurance, a specialist insurer serving emerging industries, has appointed Ankur Pandya as Senior Vice President – Financial Lines and Cyber as the company continues to develop its presence in the US market. Based in New York, Pandya will report to Shane Doyle, Relm’s Chief Underwriting Officer. In his new position, Pandya will be responsible…

DXC Technology, a technology services company that provides software and business process services to the insurance sector, has announced a series of developments covering artificial intelligence, workflow automation and London Market technology. The company revealed the initiatives at its Connect Insurance Executive Forum in London on 7 October, positioning them as part of its wider…