Indemnity Insurance – Investing News Wire http://investingnewswire.club/ Wed, 22 Sep 2021 15:45:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://investingnewswire.club/wp-content/uploads/2021/05/default1.png Indemnity Insurance – Investing News Wire http://investingnewswire.club/ 32 32 What is compensation insurance? | The bank rate https://investingnewswire.club/what-is-compensation-insurance-the-bank-rate/ https://investingnewswire.club/what-is-compensation-insurance-the-bank-rate/#respond Wed, 22 Sep 2021 15:45:57 +0000 https://investingnewswire.club/what-is-compensation-insurance-the-bank-rate/ Compensation is an agreement between two parties in which one party is responsible for compensating the other for damage or loss that it may suffer. Indemnity insurance protects a policyholder against claims for compensation in exchange for monthly or annual premiums. If a professional or business causes damage or loss to a third party, an […]]]>

Compensation is an agreement between two parties in which one party is responsible for compensating the other for damage or loss that it may suffer. Indemnity insurance protects a policyholder against claims for compensation in exchange for monthly or annual premiums. If a professional or business causes damage or loss to a third party, an indemnity insurance policy can help cover the insured’s settlement and legal costs.

Indemnification clauses are present in insurance contracts and commercial contracts, but indemnity insurance is something separate. You need indemnity insurance if you have agreed to indemnify another party and want coverage for potential lawsuits that could arise from personal negligence. Here’s what you need to know about indemnity agreements and how you might decide whether or not to purchase indemnity insurance.

What is compensation insurance?

Compensation is the promise of one party to compensate another party for potential loss or damage. Compensation is the act of compensating another party after a loss has occurred. In an indemnity contract, the indemnified party is protected against all liability and the indemnified party keeps the indemnified person unharmed.

For example, if a doctor works for a hospital, he or she may be required to sign an indemnity agreement that protects the hospital from liability. The doctor compensates the hospital so that the hospital cannot be the target of any legal action brought as a result of the doctor’s actions. Therefore, the doctor may require malpractice insurance – which is a form of indemnity insurance – to protect against possible patient lawsuits.

How does compensation work with auto insurance?

When you purchase an auto insurance policy, you are the claimant and your insurance company is the claimant. Your insurance company agrees to indemnify you or another party for loss or damage in accordance with the terms and limits of the policy. Your automobile insurance contract makes it the responsibility of your insurance company to compensate you when you are involved in a covered accident. An auto insurance company can cover an insured in the following ways:

  • Legal fees: If you have liability insurance, your insurance company could cover your legal costs in the event of a lawsuit brought by the injured party.
  • Medical bills: Your liability insurance includes your insurance company paying for medical expenses incurred by the other driver and their passengers in an accident, up to your liability limits. If you have medical coverage, your insurance company will also cover your medical costs and those of your passengers.
  • Repair of material damage: If you cause an accident that results in bodily injury, your insurance company will pay compensation to the other driver under your liability insurance. If you have collision coverage, you could also receive compensation for repairs to your vehicle.

Who should have indemnity insurance?

In terms of auto coverage, indemnity insurance from an auto insurance company is required in most states except New Hampshire and Virginia. However, outside of the liability levels required by the state, maintaining a comprehensive coverage policy can help avoid the financial burden of paying for vehicle damage out of pocket.

You may want to consider purchasing indemnity insurance if any of the following are true:

  • You consult clients for advice (financial advisors, fitness professionals, private teachers, insurance agents, etc.)
  • You consult with clients to provide designs or frameworks (project engineers, web developers, graphic designers, etc.)
  • You belong to an industry association that requires indemnity insurance or another regulatory body requires it
  • You are self-employed and a client asks you to take out liability insurance as part of your contract (writers, marketing consultants, etc.)
  • It is possible that you will make mistakes in your profession that would lead to allegations of negligence (doctors, lawyers, etc.)

What is accidental death cover?

Accidental death coverage, also known as double indemnity insurance, is a rider often available for life insurance plans. It could also be a stand-alone policy that makes a payment to the beneficiaries of the policyholder if the owner dies or is maimed in an accident. Typically, policies provide this payment in addition to the death benefit. Accidental Death and Dismemberment (AD&D) coverage will not provide compensation if the insured dies of natural causes.

Frequently Asked Questions

What are the common types of liability insurance?

Other than a standard auto insurance policy, other common types of indemnity insurance include:

  • Malpractice insurance, which protects doctors from lawsuits
  • Errors and Omissions Insurance (E&O), which protects businesses and individuals from legal action arising from misrepresentation, negligence, inaccurate advice and errors and omissions in services
  • Directors and officers insurance (D&O), which covers the personal property of directors and officers if another party sues them for their actions in running a business

Is professional liability insurance tax deductible?

Yes. Because the IRS considers a business’s insurance costs to be eligible for write-off, professional liability insurance is generally considered a business expense and can generally be deducted from the cost of your premiums on your tax return. Commercial auto insurance for business purposes can be viewed as a business expense, for example.

Is Liability Insurance Worth It?

If someone takes legal action against you, the settlement could potentially wipe out your assets. Drivers face multiple risks on the road, such as collisions resulting in serious injury or damage. Given this risk, indemnity insurance in the form of an auto insurance policy can be particularly beneficial in protecting your finances. Plus, if you work in an industry that makes you vulnerable to legal action, liability insurance is often worth it.


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Navigate through the new pre-lawsuit notice requirements for property insurance companies set out in the Florida Stat. § 627.70152. take advantage of regulations and avoid lawsuits | Burr & Forman https://investingnewswire.club/navigate-through-the-new-pre-lawsuit-notice-requirements-for-property-insurance-companies-set-out-in-the-florida-stat-%c2%a7-627-70152-take-advantage-of-regulations-and-avoid-lawsuits-burr-fo/ https://investingnewswire.club/navigate-through-the-new-pre-lawsuit-notice-requirements-for-property-insurance-companies-set-out-in-the-florida-stat-%c2%a7-627-70152-take-advantage-of-regulations-and-avoid-lawsuits-burr-fo/#respond Tue, 21 Sep 2021 23:09:10 +0000 https://investingnewswire.club/navigate-through-the-new-pre-lawsuit-notice-requirements-for-property-insurance-companies-set-out-in-the-florida-stat-%c2%a7-627-70152-take-advantage-of-regulations-and-avoid-lawsuits-burr-fo/ By now, property insurance companies and their attorneys are likely familiar with Senate Bill 76, in which the Florida legislature ultimately codified long-needed changes to the current framework for property litigation. property insurance. The bill is a good start to rule over frivolous and fraudulent property insurance claims made by homeowners, public adjusters, contractors, and […]]]>

By now, property insurance companies and their attorneys are likely familiar with Senate Bill 76, in which the Florida legislature ultimately codified long-needed changes to the current framework for property litigation. property insurance. The bill is a good start to rule over frivolous and fraudulent property insurance claims made by homeowners, public adjusters, contractors, and lawyers of dishonest homeowners seeking out fee payments. blatant lawyer who plagued the Florida property insurance industry and the courts for many years. The insurance industry is hoping this bill will provide much needed relief, but doubts remain as to whether it has gone far enough. The most beneficial feature is the mandatory pre-prosecution notice requirements set out in Fla. Stat. § 627.70152. This article focuses on how real estate carriers can use the new notice requirements to limit owner lawsuits and create leverage when those lawsuits are inevitably filed.

The notice provision provides that once a carrier has made a decision to cover a property insurance claim, as a prerequisite for an owner to bring legal action against the carrier, the claimant must send the carrier a notice of intention to sue. Most carriers have interpreted the new law to apply to claims for which the policy issue is subsequent to the change in law of July 1, 2021. As a result, most carriers do not require such notices of intent. owners at the moment. But as claims made through post-legislation policies are fully adjusted in the weeks and months to come, real estate carriers must be prepared to show their new muscles with the new pre-legislation framework. action to limit lawsuits and leverage attorney fees for covered and denied insurance claims.

Requirements for notice of intent prior to prosecution

Florida Stat. The pre-action notice provision of § 627.70152 requires owners to: (a) refer to the law on which the request is made; (b) indicate the alleged acts of omission by the carrier giving rise to the dispute; ; (c) if the underlying claim has been rejected, provide an estimate of damages for the claim if known; and especially (d) if coverage has been provided for the underlying claim, make a digital claim that identifies the amount claimed for the claim, and if the claimant is represented by counsel, separately indicate the amount of attorney’s fees requested by the owner’s lawyer. For claims made by an agent of the owner, the notice must also state that a copy of the notice has been given to the claimant. The owner must provide the insurer ten working days to respond to the notice of intent before filing a complaint. The law requires courts to dismiss lawsuits when homeowners fail to comply with these requirements, and homeowners’ lawyers may not recover fees and costs due to a dismissal caused by improper advance notice.

Insurer’s response to the pre-prosecution notice if the claim was denied

After receiving the prior notice, the insurer must respond in writing. If the underlying claim has been denied, the carrier’s written response must either accept coverage, continue to deny coverage, or assert the right to re-inspect the property. Any re-inspection must take place within 14 working days of the request. This provision provides an excellent opportunity for another adjuster, in-house lawyer or senior decision maker to review denials that may not be the strongest, whether through re-inspection or a desk review. , and allows carriers to potentially settle ill-decided claims. Giving carriers a second chance to avoid the most contentious cases – ill-conceived denial – through a second review or re-inspection could create significant savings for Florida carriers. An independent review of the coverage decision and the savings achieved by avoiding even some meritorious lawsuits should significantly offset the additional administrative costs associated with facilitating the process.

Insurer’s response to the notice of intent prior to prosecution if the claim was covered

If the underlying claim was covered, including even under the policy deductible, the insurer must respond within 10 business days with an offer to settle and may require the claimant to participate in an assessment or another form of dispute resolution. This provision provides the strongest protection for carriers from frivolous lawsuits and, when used properly, may force the resolution of claims that otherwise do not belong to litigation.

In the event of a covered claim where the carrier makes an offer to settle, this new law requires owners to meet certain criteria to obtain attorney’s compensation in a subsequent lawsuit regarding the claim. If the difference between the amount obtained by the plaintiff and the pre-litigation settlement offer, excluding attorney’s fees and costs, is less than 20 percent of the disputed amount, the court cannot award the attorney the plaintiff’s legal fees. For example, if the plaintiff asks for $ 50,000 in the advance notice and the insurer against $ 20,000, the disputed amount is $ 30,000. If, in the end, there is an owner award of $ 25,000, the $ 20,000 settlement offer would be subtracted from the award with the difference being $ 5,000. This difference of $ 5,000 is less than 20% of the disputed amount of $ 30,000, so the owner’s attorney cannot recover attorney fees in a subsequent lawsuit. In this digital example, the court must award less than $ 26,000 in compensation for the claim so that the insurer avoids paying attorney fees and owner’s fees at the trial.

In addition, the law provides that if the difference between the award of a court to a claimant and the offer of pre-settlement, excluding reasonable attorney’s fees and costs, is at least 20% but less than 50% of the disputed amount, the insurer pays only the plaintiff’s legal fees and expenses equal to the percentage of the contested amount obtained multiplied by the total of the attorney’s fees and expenses. So, for example, if the plaintiff claims $ 70,000 and the insurer claims $ 10,000, the disputed amount is $ 60,000. If there is an award to the owner of $ 30,000, the offer to settle of $ 10,000 is subtracted from the award of $ 30,000, the difference being $ 20,000. This difference of $ 20,000 totals 33% of the disputed amount of $ 60,000. Here, the owner’s lawyer can only recover 33% of his reasonable fees and expenses incurred in the course of the case.

Finally, if the difference between the amount ultimately obtained by the claimant and the pre-litigation settlement offer, excluding reasonable attorneys’ fees and costs, is at least 50% of the disputed amount, then the insurer pays all of the plaintiff’s legal fees and costs. Using the same settlement offers discussed above, the court must award more than $ 40,000 for the landlord’s attorney to receive all of his fees and expenses.

So how can real estate operators use this framework to their advantage? First, when a carrier receives notice of intent for a covered claim, another adjuster or adjudicator must assess the initial coverage decision and then decide how to respond. It is human nature that the original adjuster will not take full advantage of the new law and instead seek to back up their initial hedging decision with a negligible counter-offer, if any. The first consideration of the new decision-maker will be whether he should respond to the notice requesting the assessment of the claim. It is clear that in claims with little or no scope issues and significant initial coverage, the assessment process must be invoked to avoid the possibility of a lawsuit. For claims involving small amounts that are the subject of controversy or with public adjusters or fair owners, pre-litigation mediation should also be considered.

If these favorable claim terms do not exist, making a smart digital counter-offer can potentially force the parties to a pre-settlement, as the potential owner’s lawyer will not feel confident in collecting the fees at trial given the fairness of the offer, or it at least creates considerable leverage against the owner before legal action is even filed. Since a major consideration is to avoid fees and costs in a lawsuit, the decision maker responding to the pre-action notice should be a litigation expert or in-house lawyer so that the risk of litigation properly evaluated can be incorporated into the counter-offer. . A realistic counter-offer becomes a win-win solution for the carrier as it either resolves the case or provides immense leverage during the trial.

Potential issue with the pre-prosecution notice process

There are loopholes in the legislation which must be filled by the common law. First, the claimant must provide a claim for attorneys’ fees separate from the compensation claim in the advance notice when owners are represented by attorneys during this advance process. What if the carrier agrees with the owner on the compensation portion of the claim, but not on the charges and costs claimed? Can the owner still file a complaint? Lawyers for homeowners will not waive fees without a fight. The law does not address this potential conflict. In most cases, it can be assumed that the carrier and the law firm will resolve their differences during the negotiation, especially when a motivated owner wants their additional coverage. But there will be complaining companies who hamper this process and file a complaint despite an agreement with the landlord on the additional coverage. Trial and appellate courts will have to decide whether unresolved attorney’s fee claims can allow homeowners or their attorneys to sue under this law.

Florida carriers now have important new tools to reduce the financial burden imposed by the hotbed of real estate litigation in that state. If used with diligence and ambition, Fla. Stat. Section 627.70152 could be a game-changer for insurers and reverse the financial woes that could cause the Florida property insurance market to collapse. Use wisely!

[View source.]


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Zenkyoren’s new Nakama Re cat bond could be biggest ever, up to $ 775 million https://investingnewswire.club/zenkyorens-new-nakama-re-cat-bond-could-be-biggest-ever-up-to-775-million/ https://investingnewswire.club/zenkyorens-new-nakama-re-cat-bond-could-be-biggest-ever-up-to-775-million/#respond Tue, 21 Sep 2021 10:02:51 +0000 https://investingnewswire.club/zenkyorens-new-nakama-re-cat-bond-could-be-biggest-ever-up-to-775-million/ Zenkyoren, Japan’s National Agricultural Cooperative Mutual Insurance Federation and one of the world’s largest buyers of disaster protection, could secure its biggest catastrophe bond ever with its latest issue, as a high-end target for the Nakama Re Pte. Ltd. (Series 2021-1) cat bond has now reached $ 775 million, from what we understand.Zenkyoren returned to […]]]>

Zenkyoren, Japan’s National Agricultural Cooperative Mutual Insurance Federation and one of the world’s largest buyers of disaster protection, could secure its biggest catastrophe bond ever with its latest issue, as a high-end target for the Nakama Re Pte. Ltd. (Series 2021-1) cat bond has now reached $ 775 million, from what we understand.

Zenkyoren returned to the catastrophe bond market just over a fortnight ago with a new cat bond Nakama Re through which he was targeting at least $ 500 million in earthquake protection in Japan.

This new cat bond Nakama Re is the first to be sponsored by Zenkyoren which uses Singapore as its issuing domicile, as the Japanese mutual insurance giant seeks to take advantage of the ILS grant program offer available there.

It is however encouraging to see another Asian sponsor looking for a local home and we hope to see at least some of them stay in the region when the grants are no longer available.

This is the twelfth Zenkyoren directly sponsored catastrophe bond that we have listed in our extensive transaction directory.

To date, the biggest Zenkyoren-sponsored cat bond that we have covered was two $ 700 million issues in 2016 and 2018.

From the latest information we gleaned from sources, we understand that the target size of this catastrophic Nakama Re 2021-1 bond has been raised to a range of $ 675 million to $ 775 million, which would be a record problem for Zenkyoren.

With catastrophic obligation Nakama Re Ltd. (Series 2016-1) of $ 700 million due in October, that means Zenkyoren will likely replace this expiring capital market-backed reinsurance protection.

With its latest cat bond, Zenkyoren is once again seeking protection on a three-year aggregate basis, triggered by indemnities, to cover itself against earthquake risks in Japan.

Coverage will run for almost five years until October 2026, with three annual periods of aggregate risk, each lasting three years, overlapping throughout the term.

At launch, the deal aimed to issue at least $ 400 million of Series 2021-1 Class 1 Notes, with a three-year expected loss of 2.2%, or 0.73% on an annualized basis, and these were offered to investors in cat bonds with price guidance in a range of 1.75% to 2.2%.

However, we are told that this tranche of class 1 notes is targeting between $ 500 million and $ 550 million, in terms of issue size and that the price has been set at 2.05%.

The Class 2 tranche of the Series 2021-1 Notes was launched as a $ 100 million layer, with a three-year expected loss of 3.77%, or 1.26% on an annualized basis, and a price orientation of 2.5% to 3%

Sources have told us that this tranche of Class 2 tickets is also likely to grow, with the target now at $ 175 million to $ 225 million, in terms of size and price, now set with a coupon of 2. , 75%.

It is encouraging to see that both coupons are expected to be finalized in the middle zone of guidance, rather than at the bottom, demonstrating once again that catastrophic bond funds and investors have minimum return requirements that they must reach.

We will update you as Nakama Re Pte. Ltd. (Series 2021-1) Cat bond is coming to market and you can read more about this and all other cat bond transactions in the Artemis Deal Directory.

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Content insurance market to explode with Allianz, AXA and Reliance Nippon Life Insurance https://investingnewswire.club/content-insurance-market-to-explode-with-allianz-axa-and-reliance-nippon-life-insurance/ https://investingnewswire.club/content-insurance-market-to-explode-with-allianz-axa-and-reliance-nippon-life-insurance/#respond Mon, 20 Sep 2021 19:16:34 +0000 https://investingnewswire.club/content-insurance-market-to-explode-with-allianz-axa-and-reliance-nippon-life-insurance/ Content insurance In-depth study by type (as new, indemnity policy), application (personal, business), types of discount (discount on linked policy, discount on multiple policies, discount on insurance years, premium without claim) , Coverage Type (Standard Content, Specified Items, Accidental Damage, Flood Coverage, Engine Burnout, Wearable Content (Not Listed, Listed)) Players and Region – Global Market […]]]>

Content insurance In-depth study by type (as new, indemnity policy), application (personal, business), types of discount (discount on linked policy, discount on multiple policies, discount on insurance years, premium without claim) , Coverage Type (Standard Content, Specified Items, Accidental Damage, Flood Coverage, Engine Burnout, Wearable Content (Not Listed, Listed)) Players and Region – Global Market Outlook to 2025

This press release was originally issued by SBWire

Edison, New Jersey – (WIRE SB) – 09/20/2021 – Content Assurance Market report confirms future market forecast with market size, revenue, production, consumption, gross margin, and other significant factors. It also examines the role of major players in the content assurance market including their overview of the business. While focusing on the major driving factors, the report also offers a comprehensive study of future trends and developments in the market. A specific study of the competitive landscape of the global content insurance market enabled, providing information on the company profiles, the financial position, recent developments, mergers and acquisitions, and hence the SWOT analysis. This analysis report will provide a transparent program to the reader’s concerns regarding the overall market situation to choose more from on this market project. Some of the main players presented in the study are: Allianz (Germany), AXA (France), Reliance Nippon Life Insurance (India), American Intl. Group (United States), Aviva (United Kingdom), Assicurazioni Generali (Italy), Cardinal Health (United States), State Farm Insurance (United States), Munich Re Group (Germany), Zurich Financial Services (Switzerland) .

Get a Free Sample Exclusive PDF Copy of This Research @ https://www.advancemarketanalytics.com/sample-report/124413-global-content-insurance-market

Keep abreast of the latest trends in the global content assurance market to maintain a competitive advantage by seizing open business opportunities in content assurance market segments and emerging territories.

Scope of insurance Content report:
Contents insurance covers loss or damage caused by theft, fire, explosion, lightning or earthquake. In terms of insurance, content is defined as the things a person will take with them on the move. It includes clothing, money, jewelry, furniture, and electrical items. It also provides protection with rugs and curtains. Additionally, content coverage may be extended at an additional charge for personal effects such as a laptop. There are two types of content assurance. This is a “like new” and a “compensation policy”.

The research report of the Content Assurance Market is expected to accumulate a substantial compensation portfolio by the end of the forecast period. It includes parameters relating to the dynamics of the content insurance market – incorporating various driving forces affecting the marketing graph of this business vertical and the risks prevailing in the sphere. In addition, it also discusses the growth opportunities of the content assurance market in the industry.

Market trends:
Introduction of new technologies for insurance tracking and processing such as artificial intelligence, robotic process automation, machine learning and others. AI is used for facial recognition in underwriting and personalized customer experience. Or

Opportunities:
Increase disposable income in both developed and developing economies

Market factors:
Consumer demand for flexibility and easier access leads to a new business model
Introduction of dynamic risk modeling techniques

Do you have any questions regarding the Global Content Assurance Market report? Ask our [email protected] https://www.advancemarketanalytics.com/enquiry-before-buy/124413-global-content-insurance-market

The regions included are: North America, Europe, Asia-Pacific, Oceania, South America, Middle East and Africa
Distribution at country level: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (United Kingdom), Netherlands, Spain, Italy , Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand, etc.

Try a limited-scope research paper specific to the country or region that matches your goal.
GET A FULL COPY OF THE US Content Insurance Market Research @ ——— USD 2000
And, Europe Content Insurance Market Study @ ——— USD 2500

Extract from the table of contents:
Chapter 01 – Executive summary
Chapter 02 – Market Overview
Chapter 03 – Key Success Factors
Chapter 04 – Analysis of the Covid-19 Crisis in the Global Content Insurance Market
Chapter 05 Global Content Insurance Market Price Analysis
Chapter 06 – Global Content Insurance Market Context
Chapter 07 – Global Content Assurance Market Segmentation
Chapter 08 Analysis of Key and Emerging Countries in the Global Content Insurance Market
Chapter 09 – Global Analysis of Content Assurance Market Structure
Chapter 10 Global Content Assurance Market Competitive Analysis
Chapter 11 – Assumptions and acronyms
Chapter 12 – Research methodology
Finally, the Content Insurance Market is a valuable source of advice for individuals and businesses.

Read the detailed index of the full research study at @ https://www.advancemarketanalytics.com/reports/124413-global-content-insurance-market

Content Assurance Market Reports provide key insights that help industry experts, product managers, CEOs and company executives design their guidelines on various parameters such as expansion, acquisitions and new product launches, as well as to analyze and understand market trends.

For more information on this press release, visit: http://www.sbwire.com/press-releases/content-insurance-market-is-going-to-boom-with-allianz-axa-dependance-nippon-life-insurance-1346214.htm


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Biba and MGA Launch New Support Program for Media and Entertainment Industry | Latest news https://investingnewswire.club/biba-and-mga-launch-new-support-program-for-media-and-entertainment-industry-latest-news/ https://investingnewswire.club/biba-and-mga-launch-new-support-program-for-media-and-entertainment-industry-latest-news/#respond Mon, 20 Sep 2021 11:20:06 +0000 https://investingnewswire.club/biba-and-mga-launch-new-support-program-for-media-and-entertainment-industry-latest-news/ The British Insurance Brokers’ Association (Biba) has launched a new membership program with Yutree Underwriting, targeting companies operating in the media and entertainment industry. The plan offers a policy covering production risks such as cancellation, abandonment or postponement. It covers costs, casting costs and ancillary costs, as well as property, liability and business interruption (BI) […]]]>

The British Insurance Brokers’ Association (Biba) has launched a new membership program with Yutree Underwriting, targeting companies operating in the media and entertainment industry.

The plan offers a policy covering production risks such as cancellation, abandonment or postponement. It covers costs, casting costs and ancillary costs, as well as property, liability and business interruption (BI) risks.

Professional compensation and terrorism can also be included.

As a result of challenges arising from the Covid-19 pandemic and associated mitigation measures, the media and entertainment industry now has specific insurance requirements – the joint initiative aims to enable brokers to find easily a cover designed for the needs of their clients.

Get clients back on their feet

Mike Hallam, technical services manager at Biba, said the creation of the program was a “direct result of member requests.”

He continued, “Yutree is an independent supplier who can agree [its] in the insurance program that our members offer to their clients. This is a significant addition to our portfolio of programs.

Yutree Director Laura Hancock added, “We are delighted to offer this program to Biba members at this time.

“We have been working with this sector for many years and 2020/21 has been a particular challenge for our broker clients. We have worked with the industry to support businesses and brokers during this time.

“As we emerge from the pandemic, we couldn’t be more excited to make our product and our specialization available to Biba members to help them help their customers get back on their feet. “


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Trade finance: why trade finance is an important form of finance and how recent policy changes can strengthen it https://investingnewswire.club/trade-finance-why-trade-finance-is-an-important-form-of-finance-and-how-recent-policy-changes-can-strengthen-it/ https://investingnewswire.club/trade-finance-why-trade-finance-is-an-important-form-of-finance-and-how-recent-policy-changes-can-strengthen-it/#respond Sat, 18 Sep 2021 06:11:00 +0000 https://investingnewswire.club/trade-finance-why-trade-finance-is-an-important-form-of-finance-and-how-recent-policy-changes-can-strengthen-it/ The past decade has witnessed tremendous development in the trade finance industry, including the complexity of transaction structures and the increase in transaction volume. This has become possible thanks to a number of legal changes, including new legislation. There is no doubt that trade finance will be an important form of resource mobilization for the […]]]>
The past decade has witnessed tremendous development in the trade finance industry, including the complexity of transaction structures and the increase in transaction volume. This has become possible thanks to a number of legal changes, including new legislation. There is no doubt that trade finance will be an important form of resource mobilization for the foreseeable future, for both large enterprises and micro, small and medium enterprises (MSMEs). This article focuses on two important changes related to trade finance that will come into effect in 2021. The first is the expansion of the scope of trade credit insurance, and the second is the amendment of the law of 2011. on the regulation of factoring (Factoring Act).

Trade credit insurance
Simply put, trade credit insurance protects manufacturers, traders and service providers from the risk of non-payment for goods and services by buyers. Trade credit insurance typically covers the risk associated with buyer’s insolvency, prolonged buyer defaults, or certain geopolitical risks due to which the buyer is unable to make payments.

To date, a limited form of trade credit insurance is permitted in India. From a trade finance perspective, the current regulatory regime does not allow the benefits of trade credit insurance to banks, letter carriers, financiers or lenders (financiers). Even if the trade receivables are assigned, the benefits of trade credit insurance cannot be passed on to the financiers. This in effect means that trade credit insurance can only be taken out by sellers when they have no intention of assigning these trade receivables.

It is important to note that in general trade finance products are unsecured and the non-availability of trade credit insurance means more risk for Financiers. This leads to some reluctance on their part to provide financial solutions to sellers. This is even more true when the seller is an MSME because his risk profile is considered higher. Even on the government-recognized TReDS platform, this functionality is not available.

The problem is amplified by the fact that all kinds of trade finance products are not considered “financial debts” under the Insolvency and Bankruptcy Code of 2016 (IBC). Trade receivables if they are sold without recourse will be classified as “operational debt” according to the IBC. Since operational creditors rank lower than financial creditors in a liquidation scenario, in effect, Financiers bear the risk of little or nothing of the liquidation proceeds.

In March 2020, IRDA authorized credit insurance for the TReDS platform and commercial credit insurance for the MSME sector under a regulatory sandbox approach.

In April 2021, IRDA published draft guidelines on trade credit insurance. In accordance with the draft guidelines, credit insurance will cover suppliers as well as banks and other financial institutions. In particular, it provides that the cover will be available to factoring companies, banks and financial institutions. Credit insurance is not available for “reverse factoring” and “financial guarantee”. This is understandable because reverse factoring and financial guarantees are financing transactions and may not be asset-backed in the true sense of the word.

The scope of credit insurance has also been broadened under the draft guidelines. Previously, this was only offered on the basis of overall turnover. Now this can be offered to cover individual buyers in the case of MSMEs. Single invoice coverage will also be authorized on the TReDS platform.

The maximum indemnity for financiers has been maintained at 60% of the trade receivables of each buyer. The limit in other cases is up to 90% of each buyer’s trade receivables. While the reason for this difference is unclear, it can be argued that financiers are more sophisticated clients and therefore in a better position to assess risk.

The benefits of trade credit insurance that have been taken out in case of cross-border transactions will undoubtedly be possible for onshore transactions as well. This is sure to give the sector a boost and take trade finance transactions to a different level in the near future.

Amendment of the factoring law
The Factoring Law was passed with the aim of addressing late payment and liquidity issues faced by all businesses, including MSMEs. While the Factoring Act has reached a certain stage, it is still a long way from achieving the success it was aiming for. Therefore, the Indian government has decided to make significant changes through the amendment law. Some key changes / amendments to note are:

· According to the Factoring Law, a non-bank financial corporation (NBFC) can undertake factoring activities if it meets the specified threshold of income and assets and is registered as a factor with the RBI. This has led to ambiguity whether other NBFCs can provide factoring products or not. The amending law removes this registration threshold. Subject to clarity from the RBI, it appears that most NBFCs will be able to provide factoring services.

· The definitions of “assignment”, “factoring activity” and “receivables” have been amended to provide clarity and to align them with internationally recognized definitions.

· The concept of Trade Receivables Discounting System (TReDS) has been explicitly included in the factoring law. This was important from the point of view of the functioning of the TReDS platform. It will therefore be possible for the TReDS platform to file the details of the allocation with the central register on behalf of a factor.

· The deadline for filing with the central register has been removed and separate notifications will be issued in this regard. The intention of the legislator is to reduce the filing deadlines in order to reduce the double financing backed by the same receivables.

· The RBI has been given broad powers to develop regulations concerning (a) the granting of a certificate of registration; (b) filing transaction details with the central register on behalf of letter carriers; and c) any other matter to be specified by regulation.

Both of the aforementioned changes show a roadmap, but the actual picture would be clear once the guidelines are released by IRDA and RBI. Expanding the scope of trade credit insurance and including all kinds of NBFCs to undertake factoring transactions would surely increase market participation and give this much needed source of funding a boost. Clarity on the functioning of the TReDS platform would be beneficial for financiers as well as for the MSME sector.

This article is co-authored by Pratish Kumar and Anish Mashruwala, partners at J. Sagar Associates.


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Kentucky Acting United States Attorney: Former Kentucky Warehouse Owner, Former Crop Insurance Agent Sentenced on Crop Insurance Fraud Charges https://investingnewswire.club/kentucky-acting-united-states-attorney-former-kentucky-warehouse-owner-former-crop-insurance-agent-sentenced-on-crop-insurance-fraud-charges/ https://investingnewswire.club/kentucky-acting-united-states-attorney-former-kentucky-warehouse-owner-former-crop-insurance-agent-sentenced-on-crop-insurance-fraud-charges/#respond Sat, 18 Sep 2021 05:23:29 +0000 https://investingnewswire.club/kentucky-acting-united-states-attorney-former-kentucky-warehouse-owner-former-crop-insurance-agent-sentenced-on-crop-insurance-fraud-charges/ LEXINGTON, Kentucky, September 10 — The game we attorney East district of Kentucky, Carlton S. Shier IV, issued the following press release: Michael mcnew, former resident of Mount sterling, was sentenced to 86 months in federal prison today by United States District Court Judge Karen C. Caldwell for conspiracy to commit electronic fraud, as part […]]]>

LEXINGTON, Kentucky, September 10 — The game we attorney East district of Kentucky, Carlton S. Shier IV, issued the following press release:

Michael mcnew, former resident of Mount sterling, was sentenced to 86 months in federal prison today by United States District Court Judge Karen C. Caldwell for conspiracy to commit electronic fraud, as part of a crop insurance fraud scheme. Shortly after, Roger wilson, resident of Mount sterling, was sentenced to 12 months in federal prison, also by Judge Caldwell, for conspiracy to commit crop insurance fraud.

McNew, 51, was an expert in crop insurance until 2012 when he became a crop insurance agent. According to his plea deal, in his role as an adjuster, he agreed with the agricultural producers to inflate or fabricate the damage to their crops and to adulterate the number of acres of crops planted during the preparation of the crops. adjustments on their loss claims on the Multi-risk crop insurance (“MPCI”) policies. As an insurance agent, he admitted to having committed fraud on MPCI loss claims, as well as private loss claims against his contracted employer, ARMtech Insurance Services. He continued to inflate or tamper with the reported acreage and crop damage and helped submit a generic photograph of the loss that falsely claimed to show damage to a particular grower’s farm. He also admitted to submitting crop insurance claims for people he knew were not farmers, but were relatives or friends of his fellow farmer conspirators, in order to spread losses and obtain better guarantees. In total, McNew admitted to causing a total loss of over $ 23,000,000.

Wilson, 88, had Clay Tobacco Warehouse, a tobacco warehouse, a grading station and an auction house in Mount Sterling, Kentucky. In his plea agreement, he admitted that from September 2013 until at least May 2018, he arranged for the farmers to buy low-quality tobacco, so that they could use this tobacco to obtain bogus qualities to apply to their loss insurance claims, which resulted in payments of ‘inflated allowance. Documents filed with the court showed that Wilson also produced false sales receipts, shipping reports and bale tags, all in an effort to facilitate fraudulent crop insurance claims. These documents showed that Wilson was responsible for more than $ 9,000,000 losses to the federal government.

McNew pleaded guilty in October 2020. Wilson pleaded guilty in May 2021.

Under federal law, McNew must serve 85% of his sentence, while Wilson must serve his full sentence. Upon release from prison, they will be under the supervision of the United States Probation Office for a period of three years. McNew must also pay the restitution of $ 19,596,936. Wilson’s restitution order is still pending in court.

Other recent convictions for crop insurance fraud have resulted in the following penalties:

* Ronnie jolly, 50, of Paris, Ky., was sentenced on August 13, 2021, to 36 months in prison and five years of supervised release.

* Bradley Prize, 38, of Carlisle, Ky., was sentenced on August 20, 2021, to 30 months in prison and three years of supervised release.

* Brandon Award, 30, of Paris, Ky., was sentenced on August 20, 2021, to six months in prison and three years of supervised release.

* Jimmy Award, 61, of Carlisle, Ky., was sentenced on August 20, 2021, to six months in prison and three years of supervised release.

Carlton S. Shier, IV, Acting United States Attorney for East district of Kentucky, Jason M. Williams, Special agent in charge, Office of the Inspector General of the United States Department of Agriculture; Edward J. Gray, special agent ad interim responsible, Federal Bureau of Investigation, Louisville Field Office; Bryant jackson, special agent in charge of the Internal Revenue Service-Criminal Investigation; and Juan garrett, Director, Kentucky Department of Insurance Insurance Fraud Investigation Division, jointly made the announcement.

The investigations were carried out by the Office of the Inspector General of the United States Department of Agriculture, United States Department of Agriculture Risk Management Agency Special Investigations Staff, Federal Bureau of Investigation, Internal Revenue Service-Criminal Investigation, and Kentucky Department of Insurance. United States is represented by deputy attorneys for the United States Erin roth and Catherine anderson.


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Golden Ray Wreck Salvage Award at One Million [The Brunswick News, Ga.] https://investingnewswire.club/golden-ray-wreck-salvage-award-at-one-million-the-brunswick-news-ga/ https://investingnewswire.club/golden-ray-wreck-salvage-award-at-one-million-the-brunswick-news-ga/#respond Sat, 18 Sep 2021 02:38:13 +0000 https://investingnewswire.club/golden-ray-wreck-salvage-award-at-one-million-the-brunswick-news-ga/ September 17 — As the epic colossal, complex and multidimensional enterprise of removing 656 feet of shipwreck from St. Simons Strait surpasses the 2 year mark, the big question that preoccupies many minds boils down to two words: dollars and cents. If the taxpayers of the Golden Islands are asking themselves, the answer is zero […]]]>

September 17 — As the epic colossal, complex and multidimensional enterprise of removing 656 feet of shipwreck from St. Simons Strait surpasses the 2 year mark, the big question that preoccupies many minds boils down to two words: dollars and cents.

If the taxpayers of the Golden Islands are asking themselves, the answer is zero dollars and zero cents.

The owners and insurers of the castaways Golden ray don’t get off that easily.

In fact, a magazine specializing in the insurance industry recently assessed the cost of the Golden Ray rescue operation at $ 842 million and climbing. This is the permanent price of unprecedented operations, according to a 5 August article in the Londonpublication based on, Insurance Insider.

This figure is up from a February estimate of $ 788 million that has already been reported in another Londonindustry publication, The Insurer.

The cost includes not only the Herculean machines used to remove the wreckage, but also the large crews engaged in controlling pollution on land and water, said we Coast Guard Michael himes, spokesperson for the United Command. This is described in the Federal Oil Pollution Act 1990, which establishes environmental protection standards that must be observed during rescue operations in we waters.

Composed of coast guard, the Georgia Department of Natural Resources and Gallagher Marine SystemsThe Unified Command is there to ensure that rescue efforts and associated pollution control measures comply with oil pollution law, Himes said. And while the law’s guidelines insist on compliance regardless of the considerations on the issue of responsible entities, Himes said the owner and insurer of the Golden Ray are committed to paying expensive attention to the environmental clean-up of the lane. cleaning operation.

“When people look at this number (of $ 842 million), that’s what accountability looks like, ”Himes said. “I know people ask, ‘When will the insured be held liable? When will the shipowner be held responsible? Well, look at that price. When people try to figure out the cost, it is absolutely not taxpayers’ money. And the insurer and the shipowner fully support the (environmental protection) priorities of the Unified Command. “

The Golden Ray is owned by the South Korean shipping management company Hyundai Glovis and is provided by North of England P&I (Protection and Indemnity), although layers of corporate language obscure this foundation somewhat.

in the north of England is in fact just one of the many marine insurers in the UK P&I North Club.

In any event, the loss is incurred by a group of insurers under the umbrella of The International Group P&I.

And while the Hyundai Glovis Company has been listed from afar as the owner of the Golden Ray, technically the owner is a Korean outfit called GL NV24 Shipping Inc., according to a National Transport Safety Office report on the sinking which was released on Tuesday.

The NTSB report described Hyundai Glovis like chartering the Golden Ray. The Golden Ray was built at Hyundai MIPO Shipyard in Ulsan, South Korea, in 2017, with its sister ship, the Silver Ray.

Regardless of which of these entities takes the note, it was a drip even before the rescue operation began. When the Golden Ray spilled in the waters between Jekyll and Saint-Simon islands on September 8, 2019, the ship itself represented a loss of $ 62.5 million, according to NTSB report. Add to that another $ 142 million losses for the cargo of 4,161 vehicles that the vessel was carrying in its hold, the NTSB noted.

Like the price tag, the size and scope of the rescue operation was staggering. The Unified Command describes it as unique.

The rescue operation is being carried out by Texas-based T&T Recovery with a multitude of subcontractors. This includes a full-time flotilla of pollution clean-up boats in the waters surrounding the recovery site, as well as daily patrols on land to search for debris, balls of oil and tar, Himes said.

Costs included building a 1 mile perimeter environmental barrier around the recovery site, supplemented by a heavy duty mesh net underneath to catch loose vehicles. There’s also the imposing VB 10,000, a 255-foot-tall crane vessel that fed the chopping chain that split the wreckage into eight pieces for removal.

“I am comfortable saying that the amount of infrastructure that has been used around this historic wreck has never been done before in a we port, ”Himes said. “The protective barrier, the round-the-clock oil mitigation operations on the perimeter, the crews marching the shores every day, it comes at a cost. But that’s not the goal. To remove the wreckage to eliminate the environmental threat and the threat to navigation, that was the objective. “

___

(c) 2021 The Brunswick News (Brunswick, Georgia)

Visit The Brunswick News (Brunswick, GA) at www.thebrunswicknews.com

Distributed by Tribune Content Agency, LLC.


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AM Best confirms credit ratings of operating subsidiaries of MGIC Investment Corporation https://investingnewswire.club/am-best-confirms-credit-ratings-of-operating-subsidiaries-of-mgic-investment-corporation/ https://investingnewswire.club/am-best-confirms-credit-ratings-of-operating-subsidiaries-of-mgic-investment-corporation/#respond Fri, 17 Sep 2021 19:55:00 +0000 https://investingnewswire.club/am-best-confirms-credit-ratings-of-operating-subsidiaries-of-mgic-investment-corporation/ OLDWICK, New Jersey – (COMMERCIAL THREAD) –AM Best confirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of the operating subsidiaries of MGIC Investment Corporation. The operating subsidiaries are Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation and MGIC Assurance Corporation (collectively referred to as MGIC). The outlook […]]]>

OLDWICK, New Jersey – (COMMERCIAL THREAD) –AM Best confirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of the operating subsidiaries of MGIC Investment Corporation. The operating subsidiaries are Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation and MGIC Assurance Corporation (collectively referred to as MGIC). The outlook for credit ratings is stable. All of the companies are domiciled in Milwaukee, WI.

The ratings reflect the strength of MGIC’s balance sheet, which AM Best considers to be the strongest, as well as its adequate operational performance, limited business profile and appropriate enterprise risk management (ERM).

MGIC’s risk-adjusted capitalization, as measured by Best’s capital adequacy ratio (BCAR), is at the highest level under both baseline and stress scenarios. The baseline scenario is analyzed on the basis of the company’s financial statements as of June 30, 2021, which already included part of the impact of the COVID-19 pandemic.

The company’s compliance with the eligibility requirements of private mortgage insurers (PMIER 2.0), the use of traditional reinsurance and mortgage-related securities to reduce its profits and the volatility of its capital in the face of a market environment. unfavorable housing, a strong liquidity situation and a conservative investment portfolio, as well as the flexibility to raise capital during the COVID-19 pandemic, support the assessment of the strongest balance sheet.

MGIC’s operational performance is deemed adequate despite the COVID-19 pandemic. The loss ratio, the combined ratio and the percentage of loans in default decreased in the first half of 2021 compared to the end of 2020. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), American Rescue Plan Moratorium forbearance and foreclosure programs helped mitigate the negative impact of the COVID-19 pandemic on MGIC. MGIC’s average loss, expense and combined ratios from 2016 to June 2021 showed technical profitability. MGIC’s historic loss and combined ratios, which increased dramatically during the financial crisis, declined significantly in recent years until the COVID-19 pandemic became apparent in 2020. Additionally, in the first half of 2021 , loss ratios and combined and percentage of loans in default decreased. MGIC’s expense ratio remains one of the lowest in the mortgage insurance industry. The Company’s credit profile has improved over the past few years, primarily as a result of improved underwriting standards as well as the effect of risk-based capital requirements set by SMIER 2.0.

AM Best believes that MGIC’s business profile is limited as the company is a monoline (re) insurer. In addition, it faces stiff competition from other private mortgage insurers and government agencies (for example, the Federal Housing Administration and Veterans Affairs) that provide mortgage insurance. Additionally, product risk is considered high because the performance of the mortgage insurance industry is tied to the macroeconomic environment and standards set by government-funded companies: Fannie Mae and Freddie Mac.

MGIC’s overall ERM assessment is appropriate because the company uses a robust ERM framework and infrastructure integrated across the enterprise. MGIC’s ERM framework is commensurate with the size, nature and complexity of its mortgage insurance business. AM Best considers that MGIC’s risk assessment capabilities appropriately match its risk profile.

This press release relates to credit ratings published on the AM Best website. For all rating information relating to the publication and relevant disclosures, including details of the office responsible for the publication of each of the individual ratings referenced in this publication, please see AM Best’s Recent rating activity Web page. For more information on the use and limits of credit rating opinions, please see Best Credit Score Guide. For more information on the proper use of Best’s credit scores, Best’s preliminary credit reports, and AM Best’s press releases, please see Guide to Proper Use of Best Ratings and Reviews.

AM Best is a global credit rating agency, news publisher, and data analytics provider specializing in the insurance industry. Based in the United States, the company operates in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information visit www.ambest.com.

Copyright © 2021 by AM Best Rating Services, Inc. and / or its affiliates. ALL RIGHTS RESERVED.


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Beazley Appoints Sanchez to New Role in Cyberspace; AGCS promotes Vassallo for energy and construction; Dyer and Adams join British practice Marine & Cargo Marsh https://investingnewswire.club/beazley-appoints-sanchez-to-new-role-in-cyberspace-agcs-promotes-vassallo-for-energy-and-construction-dyer-and-adams-join-british-practice-marine-cargo-marsh/ https://investingnewswire.club/beazley-appoints-sanchez-to-new-role-in-cyberspace-agcs-promotes-vassallo-for-energy-and-construction-dyer-and-adams-join-british-practice-marine-cargo-marsh/#respond Fri, 17 Sep 2021 04:55:11 +0000 https://investingnewswire.club/beazley-appoints-sanchez-to-new-role-in-cyberspace-agcs-promotes-vassallo-for-energy-and-construction-dyer-and-adams-join-british-practice-marine-cargo-marsh/ This edition of International People Moves covers London-based appointments at Beazley, Allianz Global Corporate & Specialty (AGCS) and Marsh. A summary of these promotions and new hires follows here. Insurer Beazley Appoints Sanchez as New Global Head of Cyber ​​Services Specialized insurer Beazley promoted Raf Sanchez as Global Head of Cyber ​​Services, a newly created […]]]>

This edition of International People Moves covers London-based appointments at Beazley, Allianz Global Corporate & Specialty (AGCS) and Marsh.

A summary of these promotions and new hires follows here.

Insurer Beazley Appoints Sanchez as New Global Head of Cyber ​​Services

Specialized insurer Beazley promoted Raf Sanchez as Global Head of Cyber ​​Services, a newly created role.

Raf Sanchez

Sanchez, currently International Director of Beazley Breach Response Services, will assume his new role on October 1 and join the Cyber ​​& Tech global management team. He will remain based in London.

Beazley is a market leader in cyber insurance, and Sanchez has been integral in the development of Beazley’s breach response services, which are a key part of the Beazley Breach Response (BBR) product which was launched in 2009, said the London-based company in a statement.

“We have created the new role of Global Head of Cyber ​​Services to further strengthen our commitment to underwrite e-exposure and leverage data and technology to equip our clients with the best possible risk management tools,” commented Paul Bantick, Head Global Cyber ​​& Technology. in Beazley.

“In his new role, Raf will lead the global risk management and incident response functions…” Bantick continued.

***

AGCS promotes Vassallo as regional head of energy and construction, London and Nordic countries

Antoine Vassallo

Allianz Global Corporate & Specialty (AGCS) announced the appointment of Antoine Vassallo as the new regional energy and construction manager for the London and Nordic regional unit, with immediate effect.

In this role, Vassallo will lead the Energy and Construction business of AGCS in the UK, Ireland and the Nordic countries, with responsibility for the profitability of the portfolio and driving established and future solutions in these risk areas. important. He will report to Alfredo Alonso, Managing Director of the London and Nordic regional unit with an additional reporting line to the Global Head of Energy and Construction at AGCS. Vassallo remains based in the London office of AGCS, Allianz’s entity for large-scale enterprise and specialty risks.

He succeeds Tracey Hunt who is leaving for an external opportunity outside the Allianz group.

Since joining Allianz in 2003, Anthony has worked in specialty lines in the London market, Europe, Asia and South America, both on the underwriting and distribution side of the business. Prior to his most recent role as Regional Manager – Onshore Energy for RUL & Nordics, he was Strategy Manager within the Marine and Energy team, CUO, based in London. Prior to that, Vassallo led the AGCS Marine and Energy team in South America, based in Rio de Janeiro.

“Anthony is well known and respected in our markets and under his leadership, the expertise and knowledge of our Energy & Construction team is uniquely positioned to respond to the rapidly growing exposures of modern businesses,” commented Alonso.

***

Dyer and Adams join Marsh Specialty UK Marine & Cargo practice

Marsh, world leader in insurance brokerage and risk consulting, announced the appointments of Sarah dyer as responsible for logistics and Nick adams as Head of Business Development within the UK Marine & Cargo practice of Marsh Specialty.

The dyer reports to Louise Nevil, CEO, UK Marine & Cargo Practice, and Adams report to Mark Cracknell, Head of Protection & Compensation (P&I). They are both based in London,

Marsh Specialty’s UK Marine & Cargo Advisors work with maritime, maritime and logistics organizations around the world to help them reduce their exposure to risk and address business challenges, through the application of data, analytics and cutting-edge benchmarking.

Dyer returns to Marsh after leaving AIG, where she was in charge of the British Navy. With over 30 years of experience as a broker and underwriter, she previously worked for Marsh as a freight liability broker. Dyer also spent 10 years at Aon, as a Customer Director, engaged in supply chain and freight transportation risks and 12 years working for a logistics company. In her new role, she will support wholesale and retail logistics companies globally in managing their insurance and risk portfolios.

In his role, Adams will focus on supporting Greek maritime customers with their insurance and risk management programs and will work closely with Nikos Rekantzis, Head of Marine, Marsh Specialty, Greece. Prior to joining Marsh, Adams had spent over 12 years with the Onassis Group as Director of Olympic Agencies (UK) in London. A qualified lawyer, he previously worked as a claims manager in the Greek office of the Swedish P&I Club.

The subjects
Cyberconstruction trucking


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