Cyber
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The New Jersey Superior Court rejected insurers’ attempts to apply a war exclusion to prevent paying out for BI losses.
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Liz Kim is joining Gallagher Re’s 40-plus-strong cyber team from Hiscox, where she has spent more than 12 years.
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International CUO Kyle Bryant declined to specify when the company would be up and running but said it was in advanced discussions and “quite confident” of landing a deal soon.
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Sources said there was still uncertainty over whether the 2021 underwriting year would turn a profit.
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Another pandemic outbreak came in fourth place, with 22% of respondents saying they were worried about further health and workforce issues and movement restrictions in 2022.
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The business will use the investment to accelerate growth and fund global expansion.
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The former Marsh broker was initially slated to join Lockton Re’s cyber reinsurance practice.
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Sources have told Insurance Insider that the majority of Beazley’s planned income is driven by rate increase, with limited new business.
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With this deal, Corvus said it becomes the first cyber InsurTech to acquire a London underwriting platform.
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Negotiations were dragged out by decisions being referred for sign-off at senior levels.
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It is understood that Ascent is currently in negotiations with a number of new potential lead markets.
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The change in plan comes as Lloyd’s restricts cyber growth.
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