Contingency/entertainment
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The ILS vehicle has support from four key providers and will be launched alongside a broader offering including K&R, fine art and other specialty risks. -
A Parliamentary committee warns that promoters can’t sustain another lost summer.
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Multiple markets have withdrawn from the class following huge losses stemming from the pandemic.
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The team was led by Alan Norris and was a major market in areas including prize indemnity and event cancellation.
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Tysers said a wider scheme would give event organisers the confidence to begin planning.
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Richard Foster previously worked at Agile Risk Partners and Zurich.
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IGI is set to launch into the contingency market and has appointed underwriter Emily Clapham to lead the entry into the class, Insurance Insider can reveal.
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Beazley has rebuilt its contingency team after large losses and a number of senior underwriter departures.
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The underwriter has led the unit on an interim basis since late 2020 following the departure of Lauren Bailey.
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The senior appointment follows large contingency losses at Beazley and a string of personnel departures.
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The scheme, which covers cast losses and civil authority losses, has also been expanded to cover cast and crew over the age of 70.
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The local Organising Committee expects to receive around 50bn yen ($481mn) for the initial delay.
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