Insurance, Insurer and Marine - Insurance Industry Brief

Markets/Coverages: Sompo Launches Marine Insurance Proposition for UK Market

Insurance Journal

SEPTEMBER 25, 2024

Sompo, the Bermuda-based provider of commercial and consumer property/casualty insurance and reinsurance, announced the launch of a new national marine insurance proposition for the United Kingdom. Sompo’s Marine Cargo UK policy and its Transport & Logistics propositions are both designed …

Marine

Marine Casualty Insurance Commercial Insurer

North Sea Ship Collision Could Cost Insurers Up to $100M, Hitting Marine Line’s Profits

Insurance Journal

MARCH 13, 2025

The collision of a cargo ship and a fuel tanker off the eastern coast of England in the North Sea is likely to hit multiple marine insurance policies, carrying an estimated combined insured value of between $50 million and $100 …

Marine

Marine Insurance Policy Insurer Insured

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Insurance Journal

JANUARY 24, 2025

January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven the global economy toward “geoeconomic fragmentation.” ” Geoeconomics refers to the intersection of geopolitical forces and economic policies.

Insurer

Insurer Insured Insurance Policy

Tokio Marine Pauses Sale of $1B Southeast Asia Life Insurance Business, Sources Say

Insurance Journal

OCTOBER 18, 2024

Japanese insurer Tokio Marine has paused the sale of its $1 billion Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring products distribution agreement, four sources with knowledge of the matter said.

Life Insurance

Life Insurance Marine Insurer Insured

Boatowners Beware! Buy a Marine Policy Rather Than Relying Upon a Homeowners Policy For Coverage

Property Insurance Coverage Law

FEBRUARY 1, 2025

With six sailboats and a motorboat, I consider myself an enthusiast, though my insurance agent probably sees me as a … The post Boatowners Beware! Buy a Marine Policy Rather Than Relying Upon a Homeowners Policy For Coverage appeared first on Property Insurance Coverage Law Blog.

Policy

Policy Marine Insurance Agents Insurance Agent

Hub International Acquires C&L Marine Insurance in Florida

Insurance Journal

MARCH 11, 2025

Chicago-based Hub International, an insurance broker and financial services firm with offices across North America, has acquired another agency in the Southeast. Hub announced that it has acquired the assets of C&L Marine Insurance, based in Boca Raton, Florida. President …

Marine

Marine Insurance Broker Broker Insurer

Marine Alliance acquires Speedwell Insurance Brokers

Splash: Finance and Insurance

FEBRUARY 18, 2025

Two years after it was founded, Hamburgs Marine Alliance is growing through the acquisition of a majority stake in London-based insurance broker Speedwell, who will join the current partnership of Marine Assekuranz and Fram Insurance Brokers.

Insurance Broker

Insurance Broker Broker Marine License

People Moves: Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter; Chubb Promotes Latter to Lead Claims for Overseas General Insurance

Insurance Journal

DECEMBER 17, 2024

This edition of International People Moves details appointments at Arch Insurance and Chubb Overseas General. Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter Arch Insurance has appointed Ezechiel Symenouh … A summary of these new hires follows here.

Cyber

Cyber Underwriter Underwriting Marine

People Moves: Markel Taps QBE’s Smith to Lead Marine & Energy Liability Team, Int’l Specialty; QBE Promotes Lascelles as Dir. of Underwriting, Marine and British Marine

Insurance Journal

AUGUST 15, 2024

This edition of International People Moves details appointments at the insurers Markel and QBE. Markel Taps QBE’s Smith to Lead Marine & Energy Liability Team, Int’l Specialty Markel, the insurance operations within … A summary of these new hires follows here.

Marine

Marine Liability Underwriter Underwriting

Tokio Marine Kiln Launches Specialty Reinsurance Division

Insurance Journal

SEPTEMBER 13, 2024

Tokio Marine Kiln (TMK), the international specialist insurer, announced the formation of a new Specialty Reinsurance division to support the company’s growth ambitions in the sector. The new division will be led by Phil Taylor who will be appointed head …

Marine

Marine Insurer Insured Insurance

Markel to Acquire UK Specialist Marine MGA, The MECO Group Ltd.

Insurance Journal

APRIL 16, 2025

Markel, the insurance operations within Markel Group Inc., announced it has agreed to purchase The MECO Group Ltd. MECO), subject to regulatory approval. Financial details of the transaction were not disclosed. Founded in 1974, MECO is a leading, independent specialist …

Marine

Marine Insurer Insured Insurance

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Insurance Journal

SEPTEMBER 17, 2024

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

Risk

Risk Claim Marine Insurer

People Moves: Beazley Taps Generali’s Foucher as Head of Commercial Property, Europe; BMS Re Appoints Hughes and Bartell From Howden Re for Non-Marine Reinsurance

Insurance Journal

FEBRUARY 27, 2025

Beazley Taps Generali’s Foucher as Head of Commercial Property, Europe Beazley, the London-based specialty insurer, announced the appointment of … This edition of International People Moves details appointments at Beazley and BMS Re. A summary of these new hires follows here.

Commercial Property

Commercial Property Commercial Marine Insurer

Markets/Coverages: QBE to Launch US Inland Marine With 3 Hires From AIG; Next Now Offers Standalone Pro Liability for Consultants

Insurance Journal

OCTOBER 15, 2024

inland marine offering by 2025 across all 50 states as it expands its specialty product suite. The team and product will be added to QBE International Market’s growing ocean marine and energy … QBE International Markets will launch a new U.S.

Inland Marine

Inland Marine Marine Liability Insurance

People Moves: Markel Taps AEGIS London’s Pressman as Senior U/W, Marine Cargo; GC&C Names Chubb’s Selff as Head of Underwriting Asia

Insurance Journal

NOVEMBER 22, 2024

Markel Taps AEGIS London’s Pressman as Senior Underwriter, Marine Cargo Markel, the insurance operations within Markel Group … This edition of International People Moves details appointments at Markel and Generali Global Corporate & Commercial. A summary of these new hires follows.

Underwriter

Underwriter Underwriting Marine Commercial

Boatowners Beware! Buy a Marine Policy Rather Than Relying Upon a Homeowners Policy For Coverage

Property Insurance Coverage Law

FEBRUARY 1, 2025

With six sailboats and a motorboat, I consider myself an enthusiast, though my insurance agent probably sees me as a … The post Boatowners Beware! Buy a Marine Policy Rather Than Relying Upon a Homeowners Policy For Coverage appeared first on Property Insurance Coverage Law Blog.

Policy

Policy Marine Insurance Agents Insurance Agent

Crafting Compelling Content for Insurance Agency Websites

Neilson Marketing Services

JANUARY 30, 2025

The digital space is crowded, and insurance agencies are vying for attention in an industry where trust and expertise matter most. A well-crafted insurance agency website is an essential tool for building credibility, attracting potential clients, and converting leads. A one-size-fits-all approach to website content falls flat.

Insurance Agency

Insurance Agency Insurer Insured Insurance

The Wartime Risk Insurers Making Fortunes Keeping Trade Moving

Insurance Journal

JANUARY 6, 2025

Inside faceless office buildings scattered around London, a niche corner of the insurance market is keeping hundreds of billions of dollars in commodity trade moving through some of the world’s most dangerous waters. As conflicts rage in the Middle East …

Risk

Risk Building Insurer Insured

Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions

Insurance Journal

JULY 23, 2024

Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if something goes wrong, a key provider of cover said. Moscow-based Ingosstrakh PJSC has emerged of a major insurer to Russian …

Risk

Risk Insurer Insured Insurance

Schrager Hampson Aviation Acquires Northeast Aviation & Marine of New York

Insurance Journal

SEPTEMBER 3, 2024

Massachusetts-based Schrager Hampson Aviation Insurance Group reports it has acquired Northeast Aviation & Marine Insurance Brokers of Schenectady, New York.

Marine

Marine Insurance Broker Commercial Broker

People Moves: Karmilowicz Resigns as Chair of Everest Global Insurance; TMK Taps AXIS’ Furness-Smith as APAC Cyber U/W; Coalition Names Kanno for UK Cybersecurity

Insurance Journal

DECEMBER 4, 2024

This edition of International People Moves details resignations and appointments at two insurers — Everest Group and Tokio Marine Kiln — and the managing general agent Coalition. A summary of these new hires follows here. Karmilowicz to Resign as Chair …

Cyber

Cyber Agents Marine Insurer

UK Expands Sanctions Against Russian Oil Fleet and Its Insurers

Insurance Journal

NOVEMBER 25, 2024

The UK government expanded its sanctions against Russia’s energy industry on Monday, blacklisting dozens of tankers responsible for moving the nation’s oil as well as two insurers involved in the trade. The measures ban any cooperation with Moscow-based insurers AlfaStrakhovanie …

Insurer

Insurer Insured Insurance Marine

Norway acts on fake marine insurance operation

Insurance Marine News

MARCH 30, 2025

Join Us The post Norway acts on fake marine insurance operation appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Marine

Marine Insurer Insured Insurance

Russian Insurers Play Growing Role in Facilitating Oil Exports to Top Buyer India

Insurance Journal

SEPTEMBER 18, 2024

Russian insurers are playing a growing role facilitating the country’s oil shipments to India, its biggest buyer, data obtained from trade and shipping sources shows, helping to protect Moscow’s export revenue despite western sanctions. Russian firms provided insurance cover for …

Protection

Protection Insurer Insured Insurance

Yacht Insurer OMAC Is Hull Carrier for Sunken Yacht in Sicily, Sources Say

Insurance Journal

AUGUST 21, 2024

Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-meter-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter …

Insurer

Insurer Insured Insurance Protection

Japan’s Non-Life Insurers Must Cut Cross-Shareholdings to Zero, Industry Group Says

Insurance Journal

SEPTEMBER 18, 2024

A trade group representing Japan’s biggest non-life insurers said on Thursday that its member firms should set a clear deadline to cut their strategic holdings of listed client shares to zero. The General Insurance Association of Japan published the guideline …

Life Insurance

Life Insurance Insurer Insured Insurance

Couple Accused of Using Theater Group’s Credit Card Settles With Insurer

Insurance Journal

SEPTEMBER 22, 2024

A Connecticut couple who previously lived in Tampa, Florida, has agreed to settle a subrogation lawsuit brought by Philadelphia Indemnity Insurance Co., which accused the couple of using a nonprofit theater group’s credit card for personal gain. The suit said …

Insurer

Insurer Insured Insurance Marine

The Secretive World of Russian Oil Tanker Insurance Revealed

Insurance Journal

OCTOBER 22, 2024

One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill. The answer is that while some are still covered by the …

Insurer

Insurer Insured Insurance Risk

Russian Strikes on Ukraine’s Ports Push Up Insurance Rates: Market Sources

Insurance Journal

OCTOBER 10, 2024

A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel bookings, insurance sources and a broker said on Thursday. Russian ballistic …

Commercial

Commercial Broker Insurer Insured

UK Working to Challenge Russian Shadow Oil Tanker Insurance

Insurance Journal

OCTOBER 17, 2024

The UK said three government bodies are working together to challenge Russian shadow fleet oil tankers if it perceives they have dubious insurance. An announcement from the country’s Foreign, Commonwealth and Development Office didn’t specify how such interventions would occur, …

Insurer

Insurer Insured Insurance Marine

Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

Insurance Journal

AUGUST 30, 2024

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts. The British-flagged 56-meter-long (184-foot-long) yacht, …

Insurer

Insurer Insured Insurance Protection

West P&I acquires Nordic Marine Insurance

Splash: Finance and Insurance

JANUARY 9, 2025

West P&I Club has bought Nordic Marine Insurance, a specialist in delay insurance, primary loss of earnings, hull and machinery, loss of hire, and maritime lien solutions. West P&I initially acquired a significant stake in Nordic in 2020.

Marine

Marine Insurer Insured Insurance

How Iran Oil Link Could Complicate Insurance Claims After Tankers Collide Off Singapore

Insurance Journal

AUGUST 5, 2024

A collision between two tankers off Singapore in July raises questions over insurance claims, as one of the vessels previously shipped Iranian oil, potentially complicating payments due to Western sanctions, ship-trackers and industry sources say. What Happened? The Singapore-flagged Hafnia …

Insurance Claim

Insurance Claim Claim Insurer Insured

Growth of Pet Insurance Continues as Market Could Reach $4.5B

Insurance Journal

JANUARY 28, 2025

Any pet owner who has been hit by sticker shock at the vet’s office understands why pet insurance is a booming business. Pet health insurance purchases have been up over the last several years, dramatically expanding premiums for the inland …

Premium

Premium Insurer Insured Insurance

Tokio Marine HCC President Schell to Retire After 50 Years in Insurance

Insurance Journal

MARCH 5, 2025

Tokio Marine HCC announced a leadership change with the retirement of Mike Schell, president, at the end of this month. Barry Cook, CEO of Tokio Marine HCC International, will additionally assume a newly created position of deputy CEO, effective April …

Marine

Marine Insurer Insured Insurance

Tokio Marine HCC President Schell to Retire After 50 Years in Insurance

Insurance Journal

MARCH 5, 2025

Tokio Marine HCC announced a leadership change with the retirement of Mike Schell, president, at the end of this month. Barry Cook, CEO of Tokio Marine HCC International, will additionally assume a newly created position of deputy CEO, effective April …

Marine

Marine Insurer Insured Insurance

Markets/Coverages: Aviva’s Lloyd’s Insurer Probitas Launches 5 New Lines of Business

Insurance Journal

NOVEMBER 13, 2024

Aviva’s Lloyd’s business Probitas announced it began to quote for five new classes of business – marine (cargo, fine art & specie, and ports & terminals), construction, renewable energy, contingency/event cancellation, and mergers & acquisitions (M&A), effective Nov. This …

Marine

Marine Insurer Insured Insurance

Western Insurers Provide Cover for Russian Oil Despite Price Cap Concerns

Insurance Journal

AUGUST 7, 2024

A group of Western insurers have provided cover for tankers carrying Russian crude, keeping its oil flowing after many in the trade sector withdrew for fear of breaching the rules of a G7 price cap, data from traders and shippers …

Insurer

Insurer Insured Insurance Protection

Red Sea Insurance Nearly Doubles After Attacked Oil Tanker Appears to Be Leaking Oil

Insurance Journal

AUGUST 28, 2024

The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen’s Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for the trade route, industry sources said on Wednesday. Iran-aligned …

Insurer

Insurer Insured Insurance Protection

NorthStandard says it “remains on course” after year of headwinds for marine insurers

Insurance Marine News

FEBRUARY 23, 2025

Join Us The post NorthStandard says it remains on course after year of headwinds for marine insurers appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Marine

Marine Insurer Insured Insurance

Trucordia Acquires Insurance Business of Boater’s Insurance in California

Insurance Journal

FEBRUARY 18, 2025

Trucordia acquired the insurance business of Boater’s Insurance Agency in the San Francisco Bay Area. Boater’s Insurance Agency specializes in providing insurance services within the marine industry. Trucordia, formerly PCF Insurance Services, is … The firm is licensed in 50 states.

Insurance Agency

Insurance Agency License Insurer Insured

Upstream energy softening exceeds expectations, follow competition intensifies, says broker WTW

Insurance Marine News

APRIL 22, 2025

Williss global head of natural resources, Rupert Mackenzie, warned that challenges to insurers profitability were increasing. Energy insurers were chasing market share. The post Upstream energy softening exceeds expectations, follow competition intensifies, says broker WTW appeared first on Insurance Marine News.

Broker

Broker Marine Insurer Insured

Cannabis Firm Fights Insurer’s Denial of Business Income Loss Claim Following Fire

Insurance Journal

JULY 28, 2024

A Berkshire Hathaway insurer is insisting it does not owe $1.3 National Fire and Marine Insurance … million in claimed business income losses to a cannabis growing company after a building fire shuttered one of its “flowering” rooms for 68 days.

Claim

Claim Building Marine Insurer

Markets/Coverages: McGill, TMK and Convex Launch Trade Disruption Facility

Insurance Journal

NOVEMBER 26, 2024

McGill and Partners, the London-based global specialty insurance and reinsurance broker, has launched a new trade disruption insurance facility in collaboration with Tokio Marine Kiln (TMK) and Convex, offering limits of $95 million, led by TMK. This offering harnesses the …

Broker

Broker Marine Insurer Insured

Markets/Coverages: Sompo Launches Marine Insurance Proposition for UK Market

North Sea Ship Collision Could Cost Insurers Up to $100M, Hitting Marine Line’s Profits

Trending Sources

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Tokio Marine Pauses Sale of $1B Southeast Asia Life Insurance Business, Sources Say

Boatowners Beware! Buy a Marine Policy Rather Than Relying Upon a Homeowners Policy For Coverage

Hub International Acquires C&L Marine Insurance in Florida

Marine Alliance acquires Speedwell Insurance Brokers

People Moves: Arch Insurance Taps Symenouh From Tokio Marine as Senior Cyber Underwriter; Chubb Promotes Latter to Lead Claims for Overseas General Insurance

People Moves: Markel Taps QBE’s Smith to Lead Marine & Energy Liability Team, Int’l Specialty; QBE Promotes Lascelles as Dir. of Underwriting, Marine and British Marine

Tokio Marine Kiln Launches Specialty Reinsurance Division

Markel to Acquire UK Specialist Marine MGA, The MECO Group Ltd.

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

People Moves: Beazley Taps Generali’s Foucher as Head of Commercial Property, Europe; BMS Re Appoints Hughes and Bartell From Howden Re for Non-Marine Reinsurance

Markets/Coverages: QBE to Launch US Inland Marine With 3 Hires From AIG; Next Now Offers Standalone Pro Liability for Consultants

People Moves: Markel Taps AEGIS London’s Pressman as Senior U/W, Marine Cargo; GC&C Names Chubb’s Selff as Head of Underwriting Asia

Boatowners Beware! Buy a Marine Policy Rather Than Relying Upon a Homeowners Policy For Coverage

Crafting Compelling Content for Insurance Agency Websites

The Wartime Risk Insurers Making Fortunes Keeping Trade Moving

Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions

Schrager Hampson Aviation Acquires Northeast Aviation & Marine of New York

People Moves: Karmilowicz Resigns as Chair of Everest Global Insurance; TMK Taps AXIS’ Furness-Smith as APAC Cyber U/W; Coalition Names Kanno for UK Cybersecurity

UK Expands Sanctions Against Russian Oil Fleet and Its Insurers

Norway acts on fake marine insurance operation

Russian Insurers Play Growing Role in Facilitating Oil Exports to Top Buyer India

Yacht Insurer OMAC Is Hull Carrier for Sunken Yacht in Sicily, Sources Say

Japan’s Non-Life Insurers Must Cut Cross-Shareholdings to Zero, Industry Group Says

Couple Accused of Using Theater Group’s Credit Card Settles With Insurer

The Secretive World of Russian Oil Tanker Insurance Revealed

Russian Strikes on Ukraine’s Ports Push Up Insurance Rates: Market Sources

UK Working to Challenge Russian Shadow Oil Tanker Insurance

Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

West P&I acquires Nordic Marine Insurance

How Iran Oil Link Could Complicate Insurance Claims After Tankers Collide Off Singapore

Growth of Pet Insurance Continues as Market Could Reach $4.5B

Tokio Marine HCC President Schell to Retire After 50 Years in Insurance

Tokio Marine HCC President Schell to Retire After 50 Years in Insurance

Markets/Coverages: Aviva’s Lloyd’s Insurer Probitas Launches 5 New Lines of Business

Western Insurers Provide Cover for Russian Oil Despite Price Cap Concerns

Red Sea Insurance Nearly Doubles After Attacked Oil Tanker Appears to Be Leaking Oil

NorthStandard says it “remains on course” after year of headwinds for marine insurers

Trucordia Acquires Insurance Business of Boater’s Insurance in California

Upstream energy softening exceeds expectations, follow competition intensifies, says broker WTW

Cannabis Firm Fights Insurer’s Denial of Business Income Loss Claim Following Fire

Markets/Coverages: McGill, TMK and Convex Launch Trade Disruption Facility

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