Market Announcement

Posted on Monday, 03 July 2017
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2 minutes

Camargue completes binder renewals
Medical Malpractice Update
Camargue Cyber Attack Plus (CCAP) Cyber Risk Solution

Camargue Underwriting Managers’ binder arrangements renew 1 July every year. The past year has been one filled with many exciting developments and the celebration of several milestones: Camargue celebrated 15 years of successful operation in August 2016; Brit Limited made a significant strategic investment in Camargue; and Bryte Insurance Company Limited entered into a binder agreement with Camargue.

Camargue are pleased to advise that our binders in respect of the 2017/2018 underwriting year have been successfully renewed. The basic capacity structure is Lloyd’s 60% (comprised of Brit, Channel, AmTrust, Antares, and Allied World), Bryte Insurance Company Limited 20% and Compass Insurance Company Limited 20%. The participation percentage on each product may differ.

Another exciting change is the ability for Camargue to write up to R500m in respect of commercial Directors’ & Officers Liability, Pension Fund Trustees Liability, Commercial Crime, General Liability and Professional Indemnity on our binders, as well as capability of sourcing over R1bn in the Lloyd’s market where necessary.

Camargue are particularly excited to launch CCAP – Camargue Cyber Attack Plus – a unique product which provides comprehensive cyber risks coverage, including bodily injury and property damage. Limits of indemnity available of up to USD200m.

Readers involved in medical malpractice will be well aware of the difficulties experienced in the market on this line of business over the past couple of years. This is evidenced by the withdrawal of several local entities from the market. Whilst Camargue have experienced challenges in this regard, we are pleased to note that we have remained a specialist underwriter in medical malpractice. With effect from 1 July 2017, Camargue’s medical malpractice capacity is being provided by Brit 40%, Allied World 40% and Compass Insurance Company Limited 20%. The capacity provided is on a prior submit basis, however we are excited to be partnering with these insurers, who have significant global medical malpractice insurance experience. Brit, who shall be leading this binder, have a well-staffed team of professionals, who are committed to the partnership with Camargue, in rendering an excellent product and service offering.

Camargue would like to take this opportunity to thank everyone for their continued support. We look forward to another successful underwriting year, providing specialist liability insurance, risk management services and insurance market education.