Intelligent Insurer News

Brexit, technology and regulation lead the key concerns of insurers in the latter half of 2019, according to a report by law firm DAC Beachcroft.

Specialist insurer QBE North America, a part of the QBE Insurance Group, has enhanced its cyber insurance solution to include cyberattack prevention services as well as post-breach response assistance.

Insurtech platform Broker Buddha that simplifies the commercial insurance application and renewal process has raised $4.5 million in a funding round led by Vertex Ventures.

London-based reinsurance, wholesale and specialty broker Ed has appointed Simon Stovell as divisional director for its risk solutions team.

Israel-headquartered cyber risk modelling firm Kovrr has raised $5.5 million in its latest funding round led by venture capital firms StageOne Ventures and Mundi Ventures, with participation of Banco Sabadell and other private investors.

Environmental risks are the biggest ESG factor for insurers and reinsurers, and Asia-Pacific is the region of most concern.

Broker Marsh has made two senior hires from AIG and Aon to strengthen its UK financial & professional (FINPRO) practice within Marsh JLT Specialty.

AXIS Insurance, a business segment of Bermuda-based AXIS Capital Holdings, has appointed Michael Baumel as new chief claims officer, succeeding David Hayward who is retiring in March 2020.

UK telematics firm Trak Global Group (TGG) has appointed Nino Tarantino as chief executive officer (CEO) for its insurance solutions North American business IMS, responsible for driving growth across the continent.

Specialist insurance intermediary New Dawn Risk Group has appointed James Bullock-Webster as head of technology, media and cyber.

Two London market veterans have launched a new body, the Commonwealth Insurance Forum (CIF), to promote the industry within the 53 countries of the British Commonwealth.

Hurricane Dorian will cost insurance losses of between $500 million and $1.5 billion in the US, much less than some had estimated.

AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has donated some insurance-linked security (ILS) assets to ACORD, the global standards-setting body for the insurance industry.

Re/insurer AXA XL has made a number of appointments in its UK client and distribution team, based in London.

London-based House of Insurtech has launched a new cloud-based 'underwriting-as-a-service' platform, called Insurforce, that aims to lower administration cost, and increase flexibility for insurers, MGAs and brokers.

Lloyd's managing agent Vibe Syndicate Management has closed its accident & health (A&H) and property D&F business units with immediate effect, citing "difficult market conditions".

Ratings agency AM Best has highlighted concerns about further amendments being proposed to the International Accounting Standard, IFRS 17, which seeks to reflect market values in the published financial statements of insurers.

Catastrophe risk modelling firm AIR Worldwide estimates that industry insured losses from Typhoon Faxai, which made landfall in Japan on September 9, will be between JPY 340 billion ($3 billion) and JPY 740 billion ($7 billion).

RSA Insurance Group has appointed Kevin Thompson as the new chief executive of its Irish business, RSA Ireland, replacing Ken Norgrove who is moving to the role of CEO of Codan/Trygg-Hansa, the company's Scandinavian business.

DXC Technology, a London insurance market service provider, has appointed Mike Salvino as its new president and chief executive officer (CEO).