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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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The new Sompo Light Vortex will work with data analytics company Palantir.
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The carrier will mobilise 3,000 general agents plus distribution partners to make offers on an “unprecedented scale”.
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Expert panel explores capital constraints, ransomware attacks and hardening market at Insurance Insider’s Cyber Summit 2021.
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Personnel displacement is high in the cargo market amid improving conditions in the sector.
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The expansive syndicate was one of several players to join the D&O market after dramatic rate rises last year.
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Lockdowns led to improved performance in 2020, but FCA reforms are likely to help reduce premiums in 2021.
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The lead market says it believes in the long-term viability of the sector, which has suffered heavy losses due to Covid-19.
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The information-gathering exercise for large insurers and banks won’t dictate capital requirements.
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Liberty aims to strengthen PI offering in German market with hire.
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Plus the implications of the X-Press Pearl sinking and all the top news from this week.
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After loss ratios surge, report warns that US cyber prospects are "grim".