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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…
Reinsurers operating across sub-Saharan Africa have continued to deliver strong underwriting performance, despite signs of moderation in market conditions, according to AM Best, a global insurance credit ratings agency and provider of industry data and analysis. In its latest Best’s Market Segment Report, Sub-Saharan Africa’s Reinsurers Maintain Robust Performance Amid Moderating Market Conditions, AM Best…
Canadian property and casualty insurers Intact Financial Corporation and Definity Financial Corporation have both released catastrophe loss estimates for the third quarter of 2026. Intact estimates that total catastrophe losses for Q3’26 were approximately $660 million on a pre-tax basis and net of reinsurance. The loss estimate consisted of $52 million in Personal Auto losses,…
Igloo, Southeast Asia’s full-stack insurtech company building the operating system for insurance, has partnered with DANA, an Indonesian e-wallet platform, to launch DANA Rain Protection, a parametric weather insurance coverage which will automatically compensate users with IDR 50,000 when triggered. The parametric product is triggered when rainfall at the user’s location reaches 2.5mm or more…
Global mergers and acquisitions (M&A) activity increased in the first nine months of 2026, with higher-value transactions contributing to a rise in overall deal value, according to WTW, the global professional services company providing risk, insurance, investment and consulting services. WTW reported that the value of completed M&A transactions rose by 23.9% during the first…