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Natural catastrophe, financial and geopolitical events still pose the biggest global threat.
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The MGA will initially write mid-market cyber and professional liability business.
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The product features fixed payment for a terrorism event within the insured’s post code, irrespective of physical damage.
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The PRA estimates that large firms could face one-off costs of up to £1.9mn to improve their resilience.
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Adam Lantrip, Sam Levine and Laura Burke have joined the new division.
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The partnership, which offered a $100mn line size, will no longer accept new business. -
Donavan’s arrival follows the appointment of former Aspen Insurance CEO Mario Vitale as president in September.
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The French MGA adds credit and surety, cyber, space and A&H to its remit with the deal.
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The ILS firm led the fundraising round at the data and analytics business.
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Lloyd’s has announced it will clamp down on silent cyber in the new year.
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The company will also provide consultancy and analytics services.
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“The hard market is coming!” one cyber underwriter enthused to me last week.
