Contingency/entertainment

The long-serving Aon executive led a team placing a variety of contingency coverage in Lloyd’s and London.

Senior contingency underwriter Luke Killeya has parted ways with Convex after having joined the carrier a year ago to help its launch into the contingency market, Insurance Insider understands.

Liberty is one of the major leaders in the London contingency market, which was hit by large Covid-19 losses.

Alan Norris’s colleague Ian Ritchie has joined Munich Re Syndicate after Talbot exited contingency following heavy pandemic losses.

The loss from the cancelled Bonnaroo festival hits a market already bruised from huge Covid-19 losses last year.

Insurers have now shelled out just over £968mn to BI policyholders in interim and final settlements.

Limited coverage and potential high costs mean events organisers are still plagued by long-term uncertainty.

Arch, Beazley, Dale, Hiscox and Munich Re are among several insurers said to be supporting the scheme, which will see the government serve as "reinsurer".

Charlie Connell will join the broker’s sports and entertainment practice group in a newly created role.

The Financial Conduct Authority’s latest release on UK claims data for Covid-related BI losses shows an acceleration of acceptances during June.

The fact the Games are going ahead means a worst-case $2.5bn loss has been averted, the ratings agency said.

There has been an uptick of event cancellation business flowing from the US, which is attracting rate rises of around 50%.