Global reinsurer Ariel Re announced a new partnership with Hiscox Re & ILS, the reinsurance and insurance linked securities arm of specialist global insurer Hiscox and the launch of CyberShock, an industry-first cyber catastrophe consortium.
Tag: Hiscox
Three Out of Four Small Businesses in the U.S. Aren’t Protected Against Claims
Hiscox, the leading small business insurer, found that 75% of small businesses in the US are underinsured, and over 70% do not understand what business insurance covers.
Insurer Hiscox Sets Aside $40M for Possible Losses from Ukraine Crisis
Hiscox, a British insurer, said on Thursday that it has set aside $40 million for expected losses resulting from Russia’s invasion of Ukraine, joining peers in quantifying the cost of the conflict. The Lloyd’s of London insurer said the provisions were for expected losses primarily from its portfolio of political violence, war, and terror, and… Continue reading Insurer Hiscox Sets Aside $40M for Possible Losses from Ukraine Crisis
Insurer Hiscox Agrees to Settlement with Action Group Over COVID Losses
The insurer Hiscox has agreed a settlement with a group of about 400 companies over business interruption losses suffered as a result of lockdowns during the Covid-19 crisis. Thousands of businesses tried to make claims with insurance companies at the start of the pandemic in 2020 but many refused to pay out. However, a test… Continue reading Insurer Hiscox Agrees to Settlement with Action Group Over COVID Losses
Hiscox Tops List of Insurers Facing COVID Business Interruption Claims
Hiscox faces paying the out on the largest number of business interruption claims, according to data compiled by the Financial Conduct Authority (FCA). Hiscox has accepted 6,692 business interruption claims for Covid-19 losses and faces making a decision on whether another 3,122 pending claims are valid, data published by the FCA today shows. The insurance… Continue reading Hiscox Tops List of Insurers Facing COVID Business Interruption Claims
Hiscox Launches First Variable Consortium for ‘Hard to Place’ General Liability Risks
Hiscox, the specialist global insurer, together with RKH Reinsurance Brokers, have launched a new variable consortium with a maximum line of over $20 million for a wide range of challenging general liability risks such as wildfire, trucking and construction. A market first, the variable consortium enables Hiscox to bind capacity on behalf of their follow… Continue reading Hiscox Launches First Variable Consortium for ‘Hard to Place’ General Liability Risks
Hiscox and Thimble Partner to Offer Short-Term Business Insurance Plans
Hiscox, a leading small business insurer, has partnered with Thimble, the insurance partner that makes insurance simple to help small businesses succeed on their own terms by offering short-term liability insurance, available by the hour, day or month. Today, more than ever, small businesses need to know they have an alternative to annual insurance commitments.… Continue reading Hiscox and Thimble Partner to Offer Short-Term Business Insurance Plans
UK Small Firms Launch Claim Against Hiscox Over Pandemic Cover
A small business group has launched a 40 million pound ($50 million) insurance claim against British insurer Hiscox over disputed cover for business disruption caused by the coronavirus pandemic, it said on Monday. Law firm Mishcon de Reya is representing the group of small business policyholders known as the Hiscox Action Group. The law firm… Continue reading UK Small Firms Launch Claim Against Hiscox Over Pandemic Cover
Hiscox Set to Drop Out of FTSE 100
Specialist re/insurer Hiscox is set to drop from the FTSE 100 this week as ongoing claims arising from hurricane Dorian and typhoons Hagibis and Faxai continue to dent profitability. The insurer last month set aside $165 million to cover the aforementioned storms and have seen its share price fall 12% since the beginning of September.… Continue reading Hiscox Set to Drop Out of FTSE 100
Hiscox to Cease Writing Casualty Reinsurance
Global specialist re/insurer Hiscox has announced its intention to cease writing casualty reinsurance business, due to “ongoing, challenging market conditions.” Concerns over issues such as pricing and reserving mean that the company no longer considers this business to be sustainable. Instead, its reinsurance division, Hiscox Re & ILS, will continue to focus on other specialty… Continue reading Hiscox to Cease Writing Casualty Reinsurance