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A new report from Gallagher Re indicates that the severe convective storm (SCS) that broke out on March 15-16 is expected to be the second SCS event in the United States this year to cause more than $1 billion in industry losses within a week, following the impact of hail and tornadoes in the March…
Atrium, the specialist insurance company owned by Lloyd’s, has announced a number of leadership and team appointments within its Property Business Group. Natalie Dubois and Thomas Hobbs have been promoted to co-directors of Property Binders in the United States and Canada. Emily Lambert joins Atrium as an underwriter in the Property Direct & Facultative team,…
Hippo Holdings Inc., a U.S. insurance company specializing in homeowners insurance and data-led underwriting, has entered into a distribution arrangement with Progressive Insurance to enable Hippo’s policies to be offered through Progressive’s existing sales infrastructure. Through an agreement with Progressive Advantage Agency, Inc., Hippo’s homeowners insurance products are integrated into HomeQuote Explorer. The products are…
Global insurance and reinsurance brokerage group Aon has announced the appointment of Fabio Martinez as head of health and talent in Brazil. In his new role, Martinez will lead the health and people strategy for Aon’s Brazil business, supporting clients in an increasingly volatile, risky, complex and interconnected business environment, while also contributing to the…
CopperPoint Insurance Companies, a provider of workers’ compensation and commercial property and casualty insurance solutions, announced the appointment of Mark Woods as senior vice president and head of product. In this role, Woods will lead the integration of underwriting products and systems, guide geographic and product expansion strategies, and drive CopperPoint’s continued investments in analytics…
AM Best has upgraded Hanoi Reinsurance Joint Stock Company’s (Hanoi Re) long-term issuer credit rating (Long Term ICR) to “bbb+” (Good) from “bbb” (Good) and changed the outlook to stable from positive. The rating agency also affirmed Hanoi Re’s Financial Strength Rating (FSR) as B++ (Good) and Vietnam Country Scale Rating (NSR) as aaa.VN (Excellent),…
QBE has partnered with Aurora to launch an integrated algorithmic underwriting system that operates entirely within the insurer’s existing governance, risk appetite and operating procedures. Developed by QBE Ventures, the solution enables fully automated lead underwriting of complex specialty risks, a first in the industry. The technology is now available in QBE’s UK Marine Yacht…
Jerome Jean Haegeli, chief economist at Swiss Re Group, said that as the world faces huge geopolitical uncertainty and volatility, oil price movements driven by the ongoing conflict in the Middle East are expected to push up consumer price inflation (CPI), which may increase insured losses in peak loss events. Current tensions in the Middle…
Specialist insurance company Brit Group Holdings Limited has announced the launch of C360, a new product designed for small businesses facing a complex and evolving cyber risk landscape. C360 offers simple yet broad coverage, providing comprehensive protection for an unlimited number of claims on an any one claim (AOC) basis throughout the policy term, up…
Global insurance and reinsurance broking group Aon has announced the appointment of Dan Tomlinson as head of alternative risk transfer solutions for Europe, the Middle East and Africa. In his new role, he will work closely with Aon Commercial Risk & Reinsurance to expand Aon ART capabilities and deliver a full range of risk management…