Day: January 21, 2021

AXIS Insurance welcomes two new underwriters in renewable energy unit

spike 1 month ago

AXIS Insurance, a division of AXIS Capital Holdings, has announced the appointment of Nicholas Boswell Brown and Claire Whelan as renewable energy underwriters.

In a statement, AXIS said the pair will join in April and will support the expansion of its renewable energy business in Spain, Portugal, and Latin America.

Boswell Brown joins AXIS from Aon, where he spent 10 years as a facultative reinsurance broker for Latin American property and power generation risks. Prior to that, he was an assistant broker at Guy Carpenter and Aon Benfield in Santiago, Chile.

Meanwhile, Whelan joins from Aviva, where she spent the

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Global body reveals insurers’ cyber risk awareness initiatives

spike 1 month ago

“We initially completed our research in January 2020 but, before we could publish the report, the global COVID-19 pandemic struck,” the GFIA said in its report. “Recognising that the pandemic and the ‘work from home’ environment would have significant implications for cybersecurity and cyber underwriting, we decided to delay publication so that we could conduct additional inquiries into how the insurance industry has adjusted its awareness campaigns.”

Included in the report are initiatives from the Canadian Life and Health Insurance Association, the Insurance Bureau of Canada, the Dutch Association of Insurers, the General Insurance Association of Japan, the General Insurance

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Asia piracy incidents highest in five years

spike 1 month ago

The increase of incidents occurred in Bangladesh, India, the Philippines, Vietnam, South China Sea and the Singapore Strait. Despite the increase, the severity of the incidents remained moderate. There was one CAT1 incident (the most severe), while 74% of incidents were CAT4 – perpetrators were not armed and crew were unharmed.

The report also identified two significant areas of concern. The Singapore Strait saw an increase of incidents, with 34 in 2020 (up from 31 in 2019). Meanwhile, in the Sulu-Celebes Seas between Indonesia, Malaysia and the Philippines, there was one incident of crew abduction in 2020. Since March 2016,

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