What’s causing an uptick in M&A insurance claims?

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“We’re getting significantly more claims, but the business that we’re writing has grown by the same amount, so it’s in line with expectation,” he said. “One new trend is that claims are coming in quicker. It used to be the case that if you wrote a policy in 2010, you wouldn’t expect to see a claim on that policy until 2012 at the earliest. Now that claim is coming in within the first 12 months of writing the policy.”

According to Liberty GTS’s 2021 M&A Claims Briefing, 57% of claim notifications were made in the first 12 months of the

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Sompo Singapore gains permit to conduct inspections by drone

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Sompo Insurance Singapore has obtained an Unmanned Aircraft (UA) operator permit and UA pilot licenses from the Civil Aviation Authority of Singapore (CAAS), allowing it to use drones for inspecting inaccessible or dangerous locations.

With the approvals, two of Sompo Singapore’s engineers are now licenced to fly drones, allowing them to conduct inspections safely and identify potential risks accurately and efficiently.

The company believes that using a drone will allow for more efficient and thorough inspection work that cannot be physically carried out by its engineers. This function, it said, is particularly useful in providing a bird’s-eye view and capturing

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Arch Insurance International appoints new CRO

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Arch Insurance International (Arch) has appointed Tom Rivers as its new chief risk officer (CRO), effective immediately.

Rivers has been in the insurance sector for more than 20 years, with extensive enterprise risk management and regulatory experience in corporate actuarial and risk management roles.

Before joining Arch, he was CRO at AXIS Managing Agency for nearly five years. Before that, he was CRO at Novae Group and held senior actuarial roles at PwC.

Hugh Sturgess, chief executive officer of Arch Insurance International, highlighted Rivers’ reputation as a “highly respected authority on risk management.”

“His extensive experience in embedding robust risk

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Climate action network hosts ‘climate justice memorial’ outside Lloyd’s HQ

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Set up by Coal Action Network, the memorial was said to be “the first of many” being planned. On October 29, for instance, the group is set to return to the Lloyd’s headquarters as part of a Defund Climate Chaos day of action.

“Through the memorial we bring to life the memories of every person harmed by the injustices of the climate crisis,” said Coal Action Network’s Elara Shurety.

“We’ve laid wreaths naming climate wrecking projects we want Lloyd’s to rule out underwriting today and help to prevent billions of lives being destroyed by climate impacts.”

The projects include the

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