Underwriting Considerations for Decennial Liability
When writing decennial liability insurance as an underwriter, there are several considerations that need to be taken into account. Here are some of the key factors to consider: Overall, underwriting decennial liability insurance requires a thorough evaluation of various factors related to the construction project, the contractor, and the insurance policy. By carefully considering these […]
Klapton Re is assigned Demotech Financial Stability Rating of S, Substantial
The Board is pleased to announce that Klapton Re has been assigned a Demotech Financial Stability Rating (FSR) of S, Substantial from Demotech, Inc., a rating agency registered with the U.S. Securities and Exchange Commission as a Nationally Recognised Statistical Rating Organisation (NRSRO). Financial Stability Ratings® (FSRs) are a leading indicator of an insurer’s financial […]
What is Decennial Liability Cover
Decennial liability cover is a form of insurance commonly used in the construction industry. It protects contractors, architects, and engineers against any damages or defects that may arise in a building or structure they have designed or constructed within ten years of its completion. The cover, also known as 10-year or structural warranty insurance, is […]
Corporate Governance within Financial Service Companies
For some time now we have long been hearing about the necessity for proper corporate governance within large companies, following some very high-profile collapses of company structures due to reckless and negligent trading by the board and senior management of such companies. Shareholders and policyholders (where the company is a financial service company) can lose […]
Emerging Cyber Security Risks and the liabilities associated with same
Cyber-related security risks have become the more serious risks almost all companies face today, specifically companies who rely on technology or their client base and client data to run their businesses. A cyber-attack is when the computer information technology system of a company or individual is exposed and an attacker manages to steal, erase, or […]
Digital Transformation in the Covid Era
In March 2020, the World Health Organization (WHO) declared the coronavirus disease 2019 a global health pandemic. Over the past two years, the disease, commonly known as covid -19 has spread worldwide, and countries have responded differently to the threat of the pandemic. The most common response (though at different degrees) has been the concept […]
Klapton Re 2021 Annual Report
It gives me great pleasure to present the annual report for Klapton Re for 2021 in which we highlight the main milestones of our inaugural year. 2021 was a year in which we focused on establishing the company and the brand as a viable and trustworthy partner of choice in the reinsurance space. We look […]
Bloomfield assigns Klapton Re initial international scale financial strength ratings of A1- (Short Term) and BB- (Long Term) and local ratings of A1- (Short Term) and BBB+ (Long Term) respectively
We are pleased to announce that Klapton Reinsurance Limited has been issued a first-time international scale rating of A1- (short term) and BB- (long term) by Bloomfield Investments. The company has also been issued a local rating of A1- (short term) and BBB+ (long term). This rating issued shortly after the recent rating by GCR […]
GCR assigns Klapton Re initial international and national scale financial strength ratings of CCC and BB(ZM), respectively (Stable Outlook).
Klapton Reinsurance Limited wishes to announce its first-time international scale rating of CCC (outlook stable), national scale BB(ZM) (outlook stable) by Global Credit Rating (GCR), who have recently been acquired by Moody’s, effective March 16, 2022. This initial rating issued shortly after the company’s commencement of operations on October 1, 2021, provides market confidence that […]
Getting to Grips with Contractual verses Delictual Liability
To get to grips with liability insurance you need a clear understanding of the difference between contractual liability and delictual liability. These legal terms for specific liability are also relevant to understanding the cover offered on insurance policies. Before I explain why, I will share the practical impact of these terms. Negligent loss or damageDelictual […]