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Broker facilities take fire from carrier executives

Insurance CEOs have slammed the use of broker facilities with the boss of Tokio Marine HCC saying that delegating underwriting authority to intermediaries is "like giving the keys to the inmates" of an asylum.

Dan Ascher, 08 June 2017
Trump’s election spiked 3 insurance deals: JP Morgan

Donald Trump's election as president of the US had an immediate chilling effect on merger and acquisition activity in the insurance sector, according to JP Morgan banker John Purcell.

Insider Staff, 08 June 2017
QBE signs up Arrowhead for small commercial business

QBE North America is looking to grow in the small commercial insurance space after signing up Arrowhead General Insurance Agency as program administrator for a portfolio of sub-$100,000 premium accounts.

David Bull, 08 June 2017
Severe US weather losses near $3bn in May

Severe US weather last month caused almost $3bn of insured losses, with nearly half the damage attributed to a single hailstorm in Colorado, according to Aon Benfield's Impact Forecasting.

Ted Bunker, 08 June 2017
Rising claims threaten aviation stability: Global Aerospace

The pricing of aviation risk is unsustainable, with a major catastrophe on top of mounting attritional losses likely to throw the sector off balance, according to Global Aerospace group CEO Nick Brown

Laura Board, 08 June 2017
Aon Benfield wins Florida accounts from rivals

Aon Benfield placed a trio of accounts at the 1 June Florida renewal freshly won from rivals, The Insurance Insider can reveal.

David Bull, 08 June 2017
Broker CEOs counter facility and commission critics

Insurance broker CEOs have rallied against criticism from senior carrier executives over the growing use of facilities and broader remuneration practices.

David Bull, 08 June 2017
ProSight puts Lloyd’s operation into run-off

ProSight has placed its Lloyd's operation into orderly run-off after attempts to secure a live acquirer for the platform proved fruitless, The Insurance Insider can reveal

Adam McNestrie, 08 June 2017
Interconnectedness a major challenge for cyber: Barn`

The global "data explosion" and the increasing interconnectedness of companies is posing major challenges to cyber insurers and their clients, Munich Re's global head of cyber, Daljitt Barn, has said

Laura Board, 08 June 2017
Berkshire units settle California WC dispute

Berkshire Hathaway’s Applied Underwriters unit has reached a settlement with California regulators that will let it resume selling a novel form of workers’ compensation insurance that has been the subject of court cases and administrative orders in several states.

Ted Bunker, 08 June 2017

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