Businesses are being visited by the four horsemen of the hardening market, according to Oliver Schofield, managing partner at RISCS and head of captive and alternative risk transfer at Principal Re.
At least 25 captives managed by Marsh are writing coverage for pandemic risks, according to a Marsh report titled Captives Offer Value in Uncertain Times.
The Bermuda Monetary Authority (BMA) registered 13 new insurance entities in August.
Ryan Specialty Group has appointmented Nick Cortezi as chairman and chief executive officer of RSG Underwriting Managers, while Matt Nichols becomes president.
Astaara, the Guernsey-based marine insurance and risk assessment firm, has appointed Howard Potter as its new head of marine cyber.
Strategic Risk Solutions (SRS) will acquire the operations of Dyna Management Services, an independently owned insurance management company headquartered in Bermuda.
Businesses should not expect an end to the hardening market any time soon, according to panelists at the Bermuda Captive Conference this week, speaking at a panel session titled Insights on a Hardening Insurance Market.
Carolyn Maloney, the Democrat Congresswoman from New York, has called on Congress to be proactive in helping businesses protect themselves from economic losses resulting from pandemics by enacting the Pandemic Risk Insurance Act (PRIA).
Randall & Quilter Investment Holdings has named Patrick Rastiello as chief executive of its newly established US excess and surplus (E&S) programme management business, Accredited Specialty Insurance Company (ASIC).
RT Specialty has hired Mason Johnston as president of a new office in Birmingham, Alabama.