Event cancellation/entertainment
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The new unit will be led by Giuliano Montano and Antonia Martinez and overseen by Lockton’s Central America and Caribbean CEO Julian Pratt. -
Gartner accuses the broker of breaching its fiduciary duty and negligent misrepresentation for selling policies that didn’t cover its losses from pandemic-canceled events.
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The loss from the cancelled Bonnaroo festival hits a market already bruised from huge Covid-19 losses last year.
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The executive said that pricing for the coverage was "terribly set" after reported industry losses came in "stunningly large".
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The RPS update cites Covid vaccines, a reduction in infections and "people’s desire to return to everyday life".
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Christian Phillips joins the new unit from Beazley.
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Robinson said the move fits into a broader strategy of finding new sources of data to improve underwriting capabilities.
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NFP’s Elissa Doroff says some industry clients still seek coverage without even the most basic risk mitigation measures.
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The underwriter has led the unit on an interim basis since late 2020 following the departure of Lauren Bailey.
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The Genstar-backed fronting carrier has struck its first deal.
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Like other lawsuits, the action claims that the presence of the virus constitutes property damage.
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The market has been hit hard by a reduction in appetite for the type of business at Lloyd’s.
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