WR Berkley

Hiscox’s John Naughton is moving to WRB Underwriting to lead its London-based product recall team, and is expected to join in the new year, this publication understands.

David Chalk and Richard Ogoe have cumulatively spent around 16 years at WR Berkley.

The recruit will become president of the UK reinsurance operation, before moving to CEO by the end of the year.

The carrier is splitting the CEO and CUO roles at its Lloyd’s managing agency, with Blades continuing as CUO.

Berkley has said it will offer 100% reinsurance protection for clients, or will happily share risk with cedants.

Rate acceleration, frequency benefits and less-than-feared top line pressure were among the takeaways from US disclosures.

Marijuana dispensaries in cities including Chicago, Philadelphia, Boston and Los Angeles were among the targets.

Chubb and CNA fell by 7 percent, while AIG closed the day down 10 percent.

Allianz, Chubb and WRB are among the carriers that oppose the centralisation of BI claims.

A bill circulating in Congress would make the industry retain the first $250mn of pandemic risk, a proposal that has split industry opinion.

Hiscox’s Olly Durell, MS Amlin’s Daniel Black and Sarah Reeve all join the company.

Social inflation related to the pandemic will put added strain on insurers, the executive said during an earnings call.