Florida renewals fall short of expectation
18 June 2018
JLT Re says Florida property-catastrophe reinsurance renewals posted low single-digit rate increases at the start of the month, as plentiful capacity muted expected gains…
International
AGCS urges businesses to wise up on resource depletion
18 June 2018
Businesses must do more to understand and address “natural capital” risks, Allianz Global Corporate & Specialty has warned…
Car makers told not to oversell ‘self-driving’ features
18 June 2018
The Association of British Insurers and car safety group Thatcham Research have warned car makers to be more careful when describing autonomous technology…
Zurich calls for mitigation focus in disaster strategy
18 June 2018
Disaster management plans must focus more on preventive measures, as the risk from extreme weather rises, Zurich says…
Engineering cover struggles as construction falls flat
18 June 2018
Swiss Re says engineering insurance premium growth has continued to stall due to depressed construction spending and poor underwriting performance…
ABI appoints first female chief
18 June 2018
Amanda Blanc has been appointed Chairman of the Association of British Insurers – the first woman to take the role…
RIMS explores risk management’s post-GFC strategic rise
18 June 2018
The Risk and Insurance Management Society has published a report chronicling the evolution of enterprise risk practices since the 2008 global financial crisis…
Sluggish cyclones add to flood damage
12 June 2018
Experts say tropical cyclones are taking longer to move, doubling rainfall and flooding in the locations they hit…
Amazon weighs ‘insurance selling agent’ move
12 June 2018
Amazon is likely to partner with insurers to reduce losses and bring down premiums through smart home technology, Morgan Stanley says…
Policy wordings ‘too complex’ for most consumers
12 June 2018
Research shows UK insurance documents contain so many complex sentences and phrases that eight out of 10 policyholders do not fully understand them…
US May storms exceed $3 billion
12 June 2018
Severe weather in the US last month led to economic losses of $US2.3 billion, with the cost expected to rise…
Experts blame cladding for spread of Grenfell blaze
12 June 2018
Fire experts have told a public inquiry into London’s Grenfell Tower tragedy that combustible cladding was the “primary cause” of the blaze’s spread…
Industry keeps economic engine ticking over, institute says
12 June 2018
The insurance industry has been labelled indispensable to the global economy and more than just a risk manager for businesses and consumers…
Japanese groups look to lift overseas earnings: Fitch
12 June 2018
Japanese insurers Tokio Marine, Sompo and MS&AD want their overseas operations to contribute 40-50% of earnings in the medium term, Fitch Ratings says…
M&A insurance demand rises, prices dip
12 June 2018
Demand for merger and acquisition risk cover surged last year, while pricing declined as more insurers competed for the business…
Accounting standard reforms pose challenge: S&P
12 June 2018
The biggest changes to accounting standards in 20 years may produce immense volatility in insurer results, S&P Global warns…
Drone adoption offers $9 billion payoff: Deloitte
12 June 2018
Drones could save the insurance industry $US7 billion a year through improved data collection and analysis, efficient use of resources and exposure of fraudulent claims…
Axa closes on XL takeover as shareholders back deal
12 June 2018
XL Group shareholders have voted in favour of French insurer Axa’s $US15.3 billion takeover…
Swiss Re identifies fresh batch of emerging risks
04 June 2018
Geopolitical shifts and “erosion of risk diversification” are the highest-impact, near-term risks flagged in this year’s Swiss Re Sonar report…
Hurricane experts issue season forecast
04 June 2018
The Atlantic hurricane season is forecast to produce between five and nine hurricanes, including up to four that could become major storms…