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The LMA Wordings Forum has revealed it has drafted a ‘cold zone variant’ of its model exclusion wording, which would make it easier for underwriters to cover construction projects in the nuclear sector, a move prompted by recent growth in the construction of nuclear power stations and a requirement to make wordings more appropriate for the nuclear industry of the future. 14 March 2017
Insurance
The re/insurance markets remain cyclical, with the industry operating on the very margins of profitability, a big catastrophic loss would adjust the balance of capital and underwriting opportunity, Alex Maloney, group chief executive of Lancashire, said in the company’s annual report. 14 March 2017
Insurance
Chris Elliott, the group chief executive officer (CEO) of Lloyd's broker Tysers and staff-owned broker Hawkes Bay Holdings, has stepped down from the position with immediate effect. 14 March 2017
Insurance
London-based Lloyd's insurer Barbican has appointed Marc Sullivan as a class underwriter for downstream energy, with immediate effect. 13 March 2017
Insurance
Specialist underwriting agency Horizon as launched three new products for its residential property clients, complementing its existing mid and high net worth products Longitude and Latitude. 13 March 2017
Insurance
The Council of Lloyd’s has elected Dominick Hoare, the chief underwriting officer (CUO) of Munich Re Syndicate, to the position of corporate-external member. 9 March 2017
Insurance
Underwriters and brokers have been told changes to Irish claims laws are cutting down on fraud and the rising levels of awards, but more needs to be done. 9 March 2017
Insurance
US-based AmWINS Group, a global distributor of specialty insurance products and services, named W.H. “Skip” Cooper as vice chairman of its board of directors. 8 March 2017
Insurance
The establishment of a Lloyd’s branch in India is being followed by intense activity among syndicates keen to increase their exposure to the country, according to law firm Clyde & Co. 7 March 2017
Insurance
Motor re/insurers face a material one-off reserving hit due to the UK’s Ogden personal injury discount rate cut, hurting profitability, but ratings will remain unaffected, Moody's said. 7 March 2017
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