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Insurance
Pen Underwriting’s innovative escape of water claims process could save industry almost £100m a year
A new escape of water claims process devised and delivered by specialist insurance business Pen Underwriting, in partnership with third-party administrator Davies Group, has the potential to reduce related industry indemnity spend by almost £100 million a year, Pen Underwriting said. 14 October 2019
Insurance
Healthcare liability insurer MedPro Group (MedPro) has entered into a definitive agreement with Swiss Re Corporate Solutions (SRCS) to acquire the renewal rights to SRCS’s healthcare professional liability book of business effective October 11, 2019. 14 October 2019
Insurance
Independent consultancy firm GreenKite has launched, dedicated to providing advice, support and solutions for the Insurance and financial services industry. 14 October 2019
Insurance
Private US property/casualty insurers’ surplus reached a new record of $802.2 billion in the first half of 2019, pushed up by insurers’ income and unrealised capital gains, according to Verisk, a data analytics provider, and the American Property Casualty Insurance Association (APCIA). 14 October 2019
Alternative Risk Transfer
Rick Montgomerie and Charlie Vaughan, the portfolio managers for Markel CATCo Investment Management’s Aquilo Fund, are leaving the company to establish a new investment manager and fund — Chard Re Investment Management. Elizabeth Simmons, the fund's underwriter, will also be leaving to join Chard Re, which is intended to launch January 1, 2020. 14 October 2019
Insurance
Developing problems with long-term care insurance have thrust General Electric (GE) and the wider long-term care industry into the spotlight, according to Erik Miller and Jason Hopper, associate directors with AM Best. 14 October 2019
Insurance
Combined Insurance, a provider of voluntary supplemental accident, disability, health and life insurance products, and a Chubb company, has made two new senior leadership appointments. 14 October 2019
Insurance
Fewer catastrophe losses in 2018, along with better underwriting performance by smaller mutuals, have led to better overall results for AM Best-rated US property/casualty (P/C) mutual insurers. 14 October 2019
Insurance
EmergIn Risk, part of the Ryan Specialty Group family and a series of RSG Underwriting Managers, has recruited David Overton as director of sales and Ryan Kratz as underwriter-cyber. EmergIn has also opened its new Miami office. 14 October 2019
Insurance
Trident Marine Managers, a managing general underwriter for the specialty marine and offshore energy industries and a part of Ryan Specialty Group (RSG), has establishes a new office in Lodi, California, and appointed Jeana Ramos as director of underwriting. 11 October 2019
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