Tag: insurance market

Lloyd’s of London insurance market will write online for the first time in 2020

G. Turner
Lloyd’s of London - London Buildings

The industry’s largest market will finally begin writing electronic business next year. Lloyd’s of London, the largest insurance market in the world, has finally announced that it will be taking its first steps into writing online. It will write its first business electronically beginning in 2020. The first online-only policy writing will begin operations as of January 1, 2020. The largest reinsurer in the world, Munich Re, will start writing policies by way of an online-only syndicate at the beginning of next year. This, according to statements issued by both…

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United States to sign post-Brexit insurance deal with Great Britain

Marc
Post-Brexit Insurance - US Flag and UK Flag

The new bilateral insurance agreement is meant to provide greater regulatory certainty to the market. The U.S. Treasury and U.S. Trade Representative’s (U.S.T.R.) office have announced their intention to sign a post-Brexit insurance agreement with Great Britain. The goal is to establish insurance market continuity and regulatory certainty as Great Britain steps out of the European Union in March 2019. The new insurance industry agreement would greatly mirror the agreement between the U.S. and E.U. The United States signed an insurance deal with the E.U. back in 2017. In order…

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Forrest T. Jones & Company Launches National Professional Liability Insurance Program

PR Article
professional liability insurance program. 1

Kansas City, MO – Forrest T. Jones & Company (FTJ) announced that it has completed an agreement with Arch Insurance Company to serve as the Program Administrator for Arch’s accountants professional liability insurance program. FTJ will market, underwrite and administer the program under its ProDefender™ product line to CPAs and CPA firms with annual revenues up to $5 million. The program will be offered to eligible accountants on an admitted basis in 28 states. ProDefender’s comprehensive coverage is designed to meet the needs of CPAs and CPA firms performing a…

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Former HHS Secretaries join forces to encourage health insurance market stability

Logan B.
health insurance market stability

The countries past health chiefs recently spoke with a message to President Trump and GOP Congress members. Former U.S. health secretaries recently spoke with a message to President Donald Trump and GOP Congress members, saying that when it comes to the health insurance market stability, don’t make things worse. Their goal was to try to convince the lawmakers not to unbalance the stability even further. As it appears as though the Affordable Care Act is here to stay for at least the foreseeable future, the former health chiefs are encouraging…

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Cyber insurance market grows by over a third last year

H. Cutner
computer keyboard cyber insurance market

A recently released Fitch Ratings report suggests that this digital coverage grew by 35 percent. A new Fitch Ratings report suggested that the cyber insurance market’s premium exposure, estimated to be $1.35 billion, is greater than predicted. Fitch pointed to natural obstacles to differentiating the cyber related premium from other forms of multi-line coverage products. High profile hacking cases making headlines are driving interest in the cyber insurance market. “Take-up rates for cyber insurance are increasing with frequent reports of computer hacking incidents, including: network intrusions and data theft, as…

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