Issues

Brexit and a new catastrophe insurance scheme for developing countries dominated the agenda at the International Insurance Society (IIS)'s Global Insurance Forum in London last week, as executives gathered to discuss the future of the industry.

The mean cost of premiums for UK solicitors' professional indemnity (PI) cover dropped by 1.3 percent last year, according to The Law Society.

London market insurers are collectively missing out on more than £200mn ($260mn) in historic loss funds, according to insurance services firm Ambant.

Darag replaces CFO; Kaikoura claims reach $1.4bn; Hannover Re Argenta deal; No Novae bid from Validus; Beazley Europe expansion; Elms leaves XL; Lloyd's MTE support; Generali Colombia sale; Allstate $993mn cat losses; RLI beats Q2 consensus; Donegal cats bite; US Risk MGA deal; Beazley Asia FI; Arch joins Plug and Play; IAG Australia restructure

Newline Group's London head of commercial directors' and officers' (D&O) business and its head of financial lines have both left the company, according to market sources.

Who would be a D&O underwriter?

The London directors' and officers' (D&O) market is facing a claim of around $26mn following a settlement by Australian law firm Slater and Gordon with its shareholders.

Talbot has taken over QBE Europe's role leading North American business for one of the largest facilities in the terrorism market, The Insurance Insider can reveal.

A recently introduced Willis Towers Watson broking structure for terrorism cover has underlined the increasing facilitisation of the political violence market in London.

The legacy market has long eyed the array of continental European liabilities piled up on carrier balance sheets, just waiting to be released.

Hamburg-headquartered insurer Schwarzmeer und Ostsee Versicherungsaktiengesellschaft, known as Sovag, is bringing a legacy book holding EUR120mn ($140mn) of gross reserves to market, The Insurance Insider understands.

I've got a leaky roof.