Insurance news

The owner’s broker, Borland Insurance Limited, had arranged cover through a Luxembourg insurer, Builders Direct SA, starting December 7, 2020. The policy carried two conditions that would later matter. It was written on the basis that there were no composite or sandwich panels at the unit – yet the building, once a cold store, was lined with them almost from floor to ceiling. And fire cover depended on the electrical systems being inspected within two months, by February 7, 2021. That inspection never took place. 

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For brokers, that gap is the real story. It suggests underreporting or informal resolution of injuries outside the claims process, rather than genuinely low exposure. Separate reporting on the same underlying research found theatre workers were far less likely than screen workers to feel confident raising safety concerns, with only 4% saying they always feel safe to report an issue, compared with 11% in the screen sector, reinforcing the likelihood that injuries are going unrecorded rather than not happening.

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“While the international wealth insurance market has grown strongly in recent years, it still represents only a small proportion of the global HNW market, highlighting the significant opportunity given the structural drivers among HNW and internationally mobile affluent families. Expanding global wealth, growing demand for succession planning and increased wealth mobility create a compelling backdrop to maintain, or accelerate, the industry momentum seen over recent years.”

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Fraser Edmond joins Intact Insurance as commercial sales, distribution and marketing VP

Intact Insurance has appointed Fraser Edmond (pictured, left) as vice president, commercial sales, distribution and marketing, effective from August 1. The newly created role reports to Tovah Grosscurth, commercial lines managing director.

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Taz Chowdhury (pictured, centre) joins as risk engineer for power, also based in London, with close to seven years of engineering experience across the UK, MENA, Asia-Pacific and Europe. Chowdhury will support the power line of business across the UK and MENA, performing risk appraisals and surveys and providing technical input on claims, also reporting to Lisulo.

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England gymnast Gabriel Langton was taken to hospital after a heavy fall during the men’s team gymnastics final at the Commonwealth Games in Glasgow last week, suffering concussion after landing headfirst off the horizontal bar. Days later, Singapore’s Jovi Loh was stretchered off with a serious knee injury during the men’s individual all-around final. Two incidents in the same week, in the same sport and, according to David Griffiths, senior advisor, sport and entertainment at Miller, exactly the kind of risk insurers watch most closely at a Games like this one.

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Jones, author of Smart Safety: AI, Smartwear and the Impact on Construction Insurance, said the answer is not to resist technological change but to recognise that digital risks now deserve the same attention as traditional physical hazards. She believes the same is true of supply chain risk, which has evolved well beyond simple delays.

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TEDmar offers a full package of cover for port and terminal operators and port authorities, spanning liability, property, equipment and operational risks. Cover extends to port property such as buildings, warehouses and hard standings, handling equipment ranging from forklifts to gantry cranes, and ancillary port craft including pilot cutters. Capacity runs to $25 million for both liability and property damage sections, with cover also available for business interruption losses tied to the operational assets that keep ports and terminals running.

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According to the Association of British Insurers (ABI), subsidence claims totalled £153 million in the first half of this year, supporting almost 9,000 households at an average payout of £17,263. The ABI’s separate first-quarter 2026 data put the average settled subsidence claim at £17,820, the highest figure on record and up 9% year on year from £16,295, following 2025 payouts that reached a record £307 million.

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A pattern across the City

Lloyd’s isn’t alone. Several major City institutions relaxed desk policies during last month’s heatwave, including JPMorgan, ING and Deutsche Bank, alongside insurer Hiscox, with JPMorgan easing its notoriously strict office attendance rules for the roughly 13,000 staff it employs in London. ING has reportedly held off doing the same this week, on the grounds that the Met Office hasn’t issued the same red-level warning that triggered its June policy.

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