Some of the great and good from the North American fac world gathered last month to chew through some of the meaty issues facing the market in 2013, and there was a general consensus that if there's one thing it needs to do better it's self-promotion.
(Re)insurers are once again targeting the trade credit/political risk sector as it continues to gain favour with underwriters in what remains a challenging market, Inside FAC can reveal.
London market veterans Ron Whyte and Julian Samengo-Turner, until recently co-heads of Integro's International Division, are believed to be working on setting up an emerging markets (re)insurance broker for a Middle East backer, Inside FAC has learned.
As property cat rates plummet for Florida and US nationwide treaty renewals and primary rates for large accounts come under downward pressure it appears that the US property fac market is also suffering.
Insured losses from the severe flooding that hit large swathes of central and northern Europe at the start of the month could be as high as EUR3bn, with potential business interruption losses yet again the main concern for direct and facultative property underwriters.
Early discussions over the $1.1bn claim that followed the cave-in at Rio Tinto's massive Bingham Canyon mine in April are understood to have highlighted anxieties among some programme participants over the scale of potential payouts.
(Re)insurers face losses of $4bn from natural catastrophe losses in May after several events including the deadly tornado in Oklahoma contributed to the claims bill, according to Aon Benfield.
Insured losses from the 18-20 May US tornadoes that devastated the Oklahoma City suburb of Moore could be as high as $5bn, with several single risk losses in the mix.
A preliminary report by the US National Transportation Safety Board (NTSB) into the 17 May Metro-North train collision in Connecticut has criticised the stability of the track.
Aon has insisted its controversial 7 .5 percent Berkshire Hathaway Lloyd's following facility will in fact strengthen the Lloyd's and the London market in the latest of a series of correspondence with Lime Street.
The proposed sale of direct and facultative player Sagicor at Lloyd's to European private equity company Anacap has broken down after two months of talks failed to yield an agreement.
Marsh's recently launched Delta directors' and officers' (D&O) and professional indemnity (PI) programmes are the latest manifestations of the "underwriting club" phenomenon taking hold in London.
Facultative reinsurance placements will be included in the new facility planned by Willis for up to 20 percent of its London-led specialty insurance book, Inside FAC understands.
Brown & Brown ups scale with Beecher buy; Marketform looks to US med-mal; BP Marsh and Besso take 40% stake in Aus MGA; Gryphon FPSO returns to production; Marsh expands with Peru purchase; Calls for TRIA extension grow; Amlin upbeat over rating environment; Enstar confirms Atrium deal; Besso buys Turkish brokerage HSB; Hampden posts 2012 profit; Former Lloyd's CEO Prettejohn on PRA board; Eqecat in talks with AIR; ProSight secures approval for Lloyd's managing agency; Jams hires Peter Rogan
While Superstorm Sandy may have shaken up the market for flood exposures, it's largely business as usual in the rail sector. Inside FAC jumps aboard...
Next month we publish the full Inside FAC New York Roundtable supplement. As a taster, we've pulled together some of the highlights...
Indonesia has it all: earthquakes, floods and typhoons. Yet the country also offers some of the most exciting industrial and commercial risks in the region, as Inside FAC discovers
A lovely little gift arrived in the office yesterday in the form of a novel by London market broker Victoria Neville called 'Thursday Nights, Monday Mornings'.