week commencing 28/06/20:

It’s been a ‘big news’ week with summer holidays back on the agenda, plus Brexit negotiations and the ‘Boris bottom’. Whatever story takes the lead, we’re just happy there’s more than one topic to report on.

COVID-19 could be a “watershed” for cyber

The coronavirus crisis could shift cyber cover from luxury to necessity in what Swiss Re’s Anthony Cordonnier described as a potential “watershed moment” for the class. External-link[S&P Global] In other news the company is calling for greater transparency via cyber resilience reporting. External-link[Financial Times]

Hardening continues at 1/7 renewal

A double whammy in the form of social inflation and COVID19, meant harder rates at the July renewals for property, casualty and professional liability for US cedants. External-link[The Insurer] External-link. [Insurance Insider]

RKH flying high

The broker has boosted its aviation unit with 14 hires in Colombia and London. External-link[Reactions]

Aon back-tracks on salary cuts

Aon is paying back the 20% it withheld from staff salaries plus 5%. Some reductions for executives and directors will remain in place. External-link[Insurance Insider]

Is flexibility in the lexicon?

COVID19 has changed the way we work, possibly forever. Can the industry step up with innovative new solutions in a hard market? External-link[Financial Times]

Lloyd’s riding a black swan

Lloyd’s is calling for a government-backed pool to cover black swan events and help firms after “multiple systemic exposures”. European risk managers have also called for a broader programme. External-link[Reuters]

M&A insurance in short supply

According to its research on claims data, Howdens believes a capacity crunch is coming for M&A insurance. External-link[Reactions]

Insurance budgets under pressure

Commercial buyers will be working with smaller budgets as a result of the pandemic, creating a squeeze on what gets covered as rates harden. External-link. [Commercial Risk Europe]

A picture speaks a thousand words

Content producers know well that pictures sell stories. This week it was the ‘Boris bottom’ spread across two national papers. We can only hope for better… External-link. [Daily Mail] External-link. [Financial Times]

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