Pol risk, credit & surety
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A report suggests the UK government is rethinking its opposition to a state-backed scheme.
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The move is a response to US sanctions which previously brought construction on the Russia to Europe project to a halt.
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The move is a response to US sanctions which previously brought construction on the Russia to Europe project to a halt.
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The agreement will initially focus on political risk and trade credit, energy and property business, with up to $25mn of capacity per risk.
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The body said that government-backed insurance schemes are not always the answer and are complex to establish.
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Insurers are taking a “cautious approach”, especially with new risks, but overall capacity is at an all-time high.
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The Convex CEO reiterates his prediction of a potential $200bn casualty-reserving deficit and anticipates a similar amount of Covid claims. -
Deployed capacity is recovering and claims were below expectations but ending government support could negatively hit the market.
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Plus a mixed week for Lloyd’s, the asbestos potential of Covid-19 claims and a round-up of our most-read stories from the week.
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A regulator-mandated restructuring of the relationship between managing agents and the Brussels hub will, however, add cost.
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Insider Deborah Wyatt takes his place, while Neil Edwards assumes the deputy head role.
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Sources warn further unrest is possible and anticipate rising demand for SRCC and even full political violence cover.
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