JLT warning on D&O
Lloyd’s broker JLT has warned firms they should expect tougher underwriting when they renew directors’ and officers’ (D&O) liability insurance. Michael Lea, head of D&O liability at JLT, said D&O premiums for large financial institutions and firms exposed to the property market were rising by almost 40%. “For other sectors the starting point is flat to 10% increases,” he said.
Williams joins Torus
Torus Insurance has appointed John Williams global head of business operations. His role includes overseeing offshore operations in India. He was senior vice-president of operations for the small business division at AIG.
Lloyd’s insurer Sportscover has pledged A$20,000 (£8,900) in grants to sports clubs that lost equipment in the Victorian bushfires. There were eight new fires in the state of Victoria on Tuesday.
AON appoints marine boss
Carl Wooding has joined Aon as UK marine client manager. Wooding – who joins from Everard Insurance Brokers – is tasked with improving small firms’ access to specialist hull, liability and related marine insurance.