Zurich
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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. -
Penny Seach is to succeed Hayley Robinson, who has decided to step down at year end for family health reasons.
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With significantly lower retentions, AIG, Assurant and Allstate are more likely to pass the cost of the hurricane onward to their reinsurers.
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Offshore energy chairman Frank Streidl said margins are tight and upstream had not hardened like other insurance lines.
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The willingness by legacy buyers to walk away from deals is a sign of discipline in a competitive market.
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Clubs including Arsenal, Aston Villa and Leicester City are claiming against insurers.
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The carrier has also hired Munich Re’s Andreas Schmitt as group cyber underwriting manager.
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Zurich is ahead of schedule on its nat cat exposure reduction in the US, the company’s CFO George Quinn said during an H1 earnings call.
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Zurich’s P&C business saw H1 business operating profit rise 31.8% on a year ago, with a 91.9% combined ratio for the period.
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The suit is the latest in a series of Covid-19 BI legal actions hinging on aggregation brought against insurers.
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The parties gave their final submissions following a legal hearing that has lasted over two weeks.
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The insurers also claimed that Stonegate’s desired treatment of furlough payments would lead to it being ‘over-indemnified’.
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