Contingency/entertainment

Staff displacement continues in the contingency market following huge Covid-19 losses and hardening rates.

Anna Sagar and Samuel Casey assess whether expectations of coronavirus-related losses are likely to match outcomes in what were tipped to be some of the most exposed classes.

Broker facilities offer cover for PPE shipping, media liability and contractors’ plant and equipment.

The temporary measure aims to “fill the gap” left by the lack of available insurance for the sector.

The MGA follows Markel out of the space as losses continue to mount for underwriters.

The All England Lawn Tennis & Croquet Club (AELTC)’s contingency policy is unlikely to renew next year due to market constraints, according to the CEO in charge of the Wimbledon tennis tournament.

Outgoing All England Club CEO Richard Lewis says it would be “impossible” to get cover for next year.

Fidelis has hired Emily Clapham from Beazley as it makes its entry into the contingency market, according to sister publication Insurance Insider.

The new group brings together former JLT Specialty and Bluefin teams.

Markel International has cut back its personal accident, contingency and entertainment (PACE) portfolio, within the wholesale operation, to concentrate solely on entertainment business.

The entertainment business sitting alongside the discontinued lines will move to the specialty carrier’s professional and financial risks portfolio.

The carrier will underwrite policies for entrants to new media, such as bloggers, vloggers and social influencers.