The cover provided through the state Consorcio pool, as well as the obligations and problems associated with it, usually raise a number of questions. We are trying to give a global overview, details directly on the web www.consorseguros.es ; English version. Consorcio de Compensación de Seguros is a public entity attached to the Ministry [...]
Santam, South Africa’s largest non-life insurer, has taken full control of Indwe Broker Holdings after acquiring the shareholding from African Rainbow Capital Financial Services and Sanlam. Before the transaction, Santam held 24% of Indwe, while ARC Financial Services owned 51% and Sanlam held 25%. The transaction makes Indwe a wholly owned subsidiary of Santam and [...]
Australian insurance broker AUB Group said on Monday it would buy London-based Lloyd’s of London wholesale insurer broker Tysers for 880 million Australian ($620.5 million) to expand the range of its products. Tysers, the sixth-largest wholesale broker in the Lloyd’s marketplace, has about 1,100 employees and writes annual gross premiums of A$3.6 billion. “Tysers provides [...]
Manage growth: International acquisitions and insurance cover Acquisitions in an international context are a challenge. This also applies with regard to dealing with risks and ensuring adequate insurance cover. What should be considered before, during and after a transaction from the perspective of insurance protection? In the following, we take up three aspects from [...]
Since the start of the war in Ukraine, fears of cyber-attacks due to parallel hybrid war are increasing. In this article we explain how the insurance industry is reacting and how the war clause affects conditions. Is there an increased cyber threat from the war in Ukraine? Officials like the German BSI are currently assuming [...]
A terrorist attack, strike, riot, civil commotion and other types of politically motivated unrest can directly and indirectly affect businesses and human lives. Modern day terrorism is multifaceted and constantly evolving in its nature. An insurance policy cannot save lives, but it can provide for financial remedy to business owners to help them restore damaged [...]
The war in Ukraine, which has been raging since February 24th, and the response of the Western world in the form of economic sanctions against Russia have so far had a drastic impact on the insurance industry. Insurance brokers who deal with risks located in Ukraine and Russia and whose clients include Russian legal entities [...]
RENOMIA has taken a majority shareholder position in the experienced Polish insurance broker Alfa Brokers. Alfa Brokers was founded in 1991 by the Gerne family and operates as a corporate insurance and employee benefits broker. With more than 30 experienced colleagues, the Alfa Brokers team has a great reputation and shares the same culture and [...]
The main purpose of business travel insurance, just like private travel insurance, is to cover emergency medical care and return transport home as well as necessary assistance provided by the insurer, like medical evacuation in an emergency. In this context, it must again be explicitly pointed out that a political evacuation from an area of [...]
Trading companies and manufacturers of goods have their deliveries insured in a global transport insurance policy based on turnover. The scope of coverage is usually "all risks" according to the Institute Cargo Clauses or similar wordings. The current situation in Ukraine is classified as war since Russia has occupied Ukrainian territory with a regular army. [...]