Pol risk, credit & surety

Brokers and underwriters say a reinsurance backstop scheme could increase the availability of cover for small businesses decimated by Covid-19.

The MDP-backed buyer strikes a simultaneous capacity deal with Crum & Forster.

US trade credit insurers have already cut capacity by 14% since the start of 2020.

LiquidX is a trade finance and trade credit insurance exchange that has executed more than $21bn in trades since 2016.

More than 20 trade associations write to Treasury Secretary Steve Mnuchin.

Curfews were imposed in 40 cities with National Guard being deployed in 15 states and Washington DC. 

Rioters in Minneapolis defy military imposed curfew.

Euler Hermes, Atradius and Coface collaborate with state agency Export Development Canada.

Within specialty, political risk is the sole line tipped for increased premiums.

The Bermuda carrier will take a 29.5 percent slice of the listed trade credit insurer but rules out a full bid for at least 12 months from the deal closing.

Brit underwriter Tom Gardner joins former Nexus divisional head James Steele-Perkins at the Lloyd’s business.

AIG’s decision to exit the surety market illustrates that the re-underwriting wheels continue to turn at the carrier as it looks to dampen underwriting volatility and move away from its previous “large-limits strategy”.