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Project is in its early stages, with a round of meetings held to stress test it with PE firms.
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The insider replaces Detlef Offenhau, who has recently retired from the role.
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A $49mn marine liability policy held by supply ship operator Rodi Marine is expected to be one of the first in the market to receive a Covid-19-related claim.
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Insurance lawyers are anticipating a massive surge in PTSD-related claims in the aftermath of the Covid-19 outbreak, amid a wider uptick in liability claims triggered by the pandemic.
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Insurers for BW Offshore’s Sendje Berge FPSO may have dodged a bullet following a pirate attack on the vessel, but the ordeal may only be beginning for the nine crew members kidnapped in the raid.
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It will have a maximum line of over $20mn and allow members to adjust lines on a risk-by-risk basis.
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He replaces Chris Mauduit, who has retired after leading the team for the previous five years.
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The veteran broker will help diversify the firm’s product offering.
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The new hire comes amid fierce competition for talent in the broking space.
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Reinsurers demand exclusions and rate rises in all classes amid pandemic uncertainty.
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The equity research firm names Beazley as most exposed to the price growth within casualty because of its US hospitals business.
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Concerns over crew liability claims have led carriers to change wordings and tighten underwriting criteria.