Brit Insurance
Lloyd's silent cyber mandate leads to 'challenging conversations' over cover
A mandate issued by Lloyd’s of London with the aim of tackling the issue of insurers’ exposure to silent cyber coverage has led to questions over how some cyber-related risks will be underwritten in future.
Analysis: The expansion of the global space market: What opportunities does this present to insurers?
It is 55 years since underwriters at Lloyd’s penned the first space insurance policy, covering the Intelsat I ‘Early Bird’ satellite. Today there are more than 2000 active satellites orbiting the planet and the accelerating commercialisation of space is…
Six insurtech start-ups to watch in 2020
It is now five years since I did my first ever 'Insurtechs to Watch Blog', when in 2016 I included Brolly, Digital Risks, Trov and Wrisk.
Data non-profit aims to spur development of climate-ready financial products
A non-profit seeking to draw up open industry data-sharing standards to address the climate crisis has launched with £1m funding and a consortium of partners that includes Aon and Brit.
Analysis: Tackling the skills shortage
The insurance industry is facing a huge skills shortage, with employers struggling to find ways to attract and retain top talent
Roundtable: Control your innovation destiny
Few disagree that the industry needs to innovate, but blue sky thinking is quickly clouded by conundrums around outsourcing, unwieldy legacy systems and the short-term need to turn a profit
Analysis: Embracing data ethics
With the increasing use of machine-learning models, the data being inputted into these models raises a number of ethical questions, but how are insurers addressing these potential issues?
Lloyd's consortium targets space startups with all-in-one satellite cover
A consortium of 18 Lloyd’s syndicates has announced a $25m-capacity-per-risk space insurance product that seeks to capitalise on a predicted tripling of the size of global space market by 2040.
Analysis: Protecting businesses against political risks
The political risk map of Europe is being changed by a toxic combination of uncertainty — both political and economic, populism, geopolitical changes, political violence and technological advances
Industry pays tribute to former Lloyd’s executive Mike Wilson
Mike Wilson, the former head of Lloyd’s Policy Signing Office in Kent has died.
Aspen MGA in run off with 111 jobs at risk
Aspen has cut loose its UK SME managing general agent, with 111 jobs on the line as a result.
British Insurance Awards: Major loss - 25 years of going the extra mile
Insurance is only really tested at the point of claim and over the past 25 years the British Insurance Awards have celebrated the industry’s efforts to return the customer to where they were before the claim. Since 2003 major loss has been a standalone…
Analysis: SMEs: Emerging risks - Protecting the little guys
A changing risk landscape is creating new challenges for SMEs and those tasked with providing the sector with insurance. But SMEs need to evolve as newer risks such as cyber attacks and data protection – along with the raft of uncertainties around Brexit…
Cloutier steps up at Aspen as Apollo deal completes
Aspen’s chairman Glyn Jones and group CEO Chris O’Kane have stepped down, with the completion of Apollo’s acquisition of the Lloyd’s insurer.
Iprism chair declares turnaround complete after Gable fallout
The chair of underwriting agency Iprism has vowed that it will never work with unrated capacity again having only just got its house in order after the collapse of former partner Gable in 2016.
This month: Cavities and complaints
As whiplash legislation speeds through parliament, claims management companies have increasingly been looking into other avenues to keep the coffers full and cavity wall insulation claims have spiked. CMCs may be the industry’s own bugbear, but this…
Simon Cooter to leave Covéa next year
Covéa Insurance’s commercial lines and high net worth director, Simon Cooter will step down next year.
Brit executive chairman Mark Cloutier departs for Aspen
Brit executive chairman Mark Cloutier is leaving the Lloyd’s insurer, to become CEO and chairman of Aspen
Analysis: Cyber terrorism: A ticking digital bomb?
Cyber terrorism is still very much a hypothetical threat but, with governments investing in cyber security to foil attacks, it’s a risk that insurance markets are watching closely
Brit profit dives 87.5% at H1
Brit’s pre-tax profit nose-dived 87.5% in the first six months of 2018 on the back of poor investment returns.
Advent and Brit owner looks to merge Lloyd’s businesses
Fairfax Financial Holdings, the parent of Advent Capital Holdings and Brit, is planning to merge some of their Lloyd’s business and place the rest into run-off.
Brit appoints Michael Gould as COO
Brit has appointed Michael Gould to the role of chief operating officer following his departure from Talbot Underwriting.
Canopius appoints Davison and Meyer to COO and CFO after buyout
Canopius has named Laurie Davison as group chief operating officer and Nigel Meyer as group chief financial officer.
Brit sees major losses of $250m
Brit saw its combined ratio rise to 112.4% last year following major loss claims of $250m (£177.8m).