Zurich
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The CEO called for the formation of public-private partnerships, akin to those in place for terrorism or earthquakes, to tackle systemic cyber risks. -
The pub group and bakery chain will dispute elements of judgements issued in October in UK Covid-related BI lawsuits.
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Streidl will step into the role following Rob Kuchinski’s retirement at the end of the year.
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Analysts said attachment points are now far behind the rate of inflation over the period.
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The carrier will turn its attention to embedding sustainability across Zurich in the next three-year period.
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Zurich had already planned to reduce its US cat exposure by 10%, a target that has nearly been achieved, the executive said.
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The carrier’s North American business recorded the strongest GWP growth, booking a 14% increase for the year to date.
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Mondelez had filed a $100mn lawsuit against the insurer over payment denial.
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Many policyholders are likely to receive larger payouts following the judgement, but a worst-case scenario has been averted.
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Stonegate’s case is seen in the market as a key precedent for the aggregation of BI claims.
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The bakery will be able to claim for multiple separate incidences rather than confining its losses to a single £2.5mn ($2.8mn) cap.
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Penny Seach is to succeed Hayley Robinson, who has decided to step down at year end for family health reasons.
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