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Tiger Global leads the investment in the security deposit insurance specialist.
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District Judge Dolly Gee granted a motion to dismiss, citing virus exclusions. -
Henderson Road Restaurant Systems filed suit after having its Covid-19 BI claim denied in March.
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The move is part of a wider expansion in BMS’s reinsurance broking capabilities.
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Inside P&C’s research team examines some of the areas that will be closely watched during the results season.
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Pandemic outbreak jumps 15 places to become the joint-second perceived risk.
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Citizens projected it would cede $94mn in storm losses to reinsurers but has cut this to $62mn.
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The acquisition from IA Capital is due to close in the second quarter.
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On an annual basis, lawsuits were 1% up on 2019 despite success in cutting back AOB cases.
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Sources warn further unrest is possible and anticipate rising demand for SRCC and even full political violence cover.
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Lawyers expect Covid-19 BI litigation claims to enter a second phase, and rising ransomware claims to spur coverage disputes.
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The organization’s president David Sampson says that the insurance industry supported the peaceful transition of power.
