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A report by Marsh LLC said that more corporates resorted to forming their own captive insurance companies in 2020 to retain more risks amid difficult insurance market conditions, Commercial Risk reported. There was a 53% year-on-year growth in the formation of protected or segregated cell companies, with a number of these cell companies established to offer directors and officers liability coverage amid a shortage of D&O insurance capacity globally.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms