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Following consultation with Lloyd’s and 68 organizations across the London Market, London Market Group’s Data Committee has updated the Core Data Record (CDR) to version 3.3, introducing new data fields designed to support treaty reinsurance operations. The scope of the new v3.3 placement CDRs has been expanded from the current v3.2 standard covering open market…
CopperPoint Insurance Company, a Phoenix-based specialty provider of workers’ compensation and commercial insurance solutions, has signed a definitive agreement to acquire General Indemnity Group (GIG), an insurance holding company focused on commercial and contract surety solutions in all 50 states and Washington, D.C. The transaction includes GIG subsidiary United Casualty & Surety Insurance Company (UCS),…
Ivans, a division of Applied Systems, has released Ivans Index results for April 2026, showing year-over-year growth in average premium renewal rates for Commercial Auto, Business Owners Policy (BOP), General Liability, Commercial Real Estate and Umbrella. Conversely, workers’ compensation premium renewal rates declined during the same period. On a quarter-over-quarter basis, commercial auto, commercial property…
CFC, a specialist insurance provider focused on emerging risks and recognized as a market leader in cyber insurance, has appointed industry veteran John Howard as chairman, subject to regulatory approval. Howard brings more than three decades of industry experience, including a strong track record in the U.S. specialty, CFC’s largest distribution market and a priority…
In Lloyd’s second quarter market news, Rachel Turk, head of performance and strategy, warned that cyber risk vectors continue to evolve, with artificial intelligence adding further complexity and uncertainty through the use of threat actors and raising new questions around potential coverage. Lloyd’s has classified the network business for a “marginal” adequacy assessment, indicating significant…
Fidelis Partnership (TFP) has announced the launch of Broker Connect, a new feature within its underwriting platform designed to significantly automate and streamline the pre-bundling submission process for complex risks, with Howden being the first brokerage partner to go live via ACORD ADEPT. TFP explained that ACORD ADEPT is one of the key platforms integrated…
Somerset Re chief executive Danish Iqbal said the life reinsurer was in a unique position in the market, being highly regarded among players focused on smaller businesses and having a very strong balance sheet, while also having the expertise, track record and financial strength to focus on larger transactions. Speaking to Reinsurance News at the…
Global reinsurance broker Guy Carpenter has appointed Andrew Hare as managing director and head of growth for Asia Pacific. In his new role, Hare will focus on accelerating sustainable profitable growth across the region by aligning client strategies, market opportunities and Guy Carpenter’s global capabilities. He is a senior reinsurance and insurance executive with extensive…
After successfully pricing its latest catastrophe bonds, the Texas Windstorm Insurance Association (TWIA) now needs approximately $1.23 billion in new reinsurance to meet risk transfer requirements through 2026, our insurance-linked securities (ILS) sister publication Artemis reports. We reported in February that the TWIA board set a $4.3 billion fiftieth PML for the 2026 storm season,…
Willis, a WTW company, has announced the launch of a new carbon capture and storage (CCS) insurance solution. The fully integrated insurance suite is designed to support developers and operators across the entire CO2 capture, transportation and storage value chain. According to the announcement, the new solution adapts upstream energy, ocean, liability and environmental protection…