Bid to renew US flood scheme makes progress
26 June 2017
A US Congress committee has passed seven bills to reform and reauthorise the debt-ridden National Flood Insurance Program, which is due to expire on September 30…
International
Queen’s Speech flags whiplash crackdown
26 June 2017
The UK Government has indicated it will move ahead with a crackdown on whiplash fraud, the Association of British Insurers says…
Captive cyber coverage surges
26 June 2017
The number of Marsh-managed captive insurers writing cyber cover surged 19% last year as companies sought innovative ways to manage risk, according to the global broker…
Insurers urged to tackle cyber risk from top down
26 June 2017
Cyber risk must be addressed by insurers at the boardroom level, according to an EY report…
Insurers shift to standalone cyber products
26 June 2017
Top cyber underwriters are shifting away from packaged towards standalone policies due to expensive litigation, according to AM Best…
AIR Worldwide enhances US quake model
26 June 2017
Catastrophe modeller AIR Worldwide has released a significantly updated earthquake model for the US…
Cloud services, diseases among emerging risks: Swiss Re
19 June 2017
Infectious diseases and the widespread use of cloud services are among the top six emerging risks with high potential impacts, according to this year’s Swiss Re Sonar report…
Politicians split on debt-ridden US flood scheme
19 June 2017
A battle is brewing among US politicians over renewal of the National Flood Insurance Program, which is due to expire on September 30…
Companies ‘face hurdles in digitisation race’
19 June 2017
Significant barriers including lack of vision, inadequate implementation skills and siloed operations are stopping companies fully reaping the benefits of digital transformation, according to a new report by XL Catlin and the Harvard Business Review…
Shipping losses drop, but storm clouds gather
19 June 2017
Large shipping losses have halved in the past decade, but a “perfect storm” of regulatory pressure, narrow margins and new risks is gathering, according to Allianz Global Corporate & Specialty’s fifth annual shipping review…
Willis Towers Watson strengthens senior broking team
19 June 2017
Willis Towers Watson has named Cliff Jeyes as Head of Broking Asia, Australasia, Central and Eastern Europe, Middle East and Africa, and announced other senior appointments…
TT Club hails ‘stability’ as premium rises
19 June 2017
Global transport and logistics industry insurer TT Club has reported premium and surplus growth for last year…
Hail and monsoon floods top May disaster list
13 June 2017
Hail the size of baseballs pummelled Colorado last month, leading to at least $US1.4 billion in insurance payouts, the costliest hail event in the US state’s history, according to Impact Forecasting’s monthly Global Catastrophe Recap…
Lloyd’s works to avoid Kodak moment
13 June 2017
Lloyd’s is acting to adapt to changes sweeping across the insurance sector and avoid meeting the same sorry fate as Kodak, which used to dominate the camera industry…
WannaCry attack foreshadows future threat: Munich Re
13 June 2017
The global ransomware attack that last month wreaked havoc on the UK healthcare system is a sign of things to come and highlights the need for companies to establish strong risk management and adequate cyber insurance, a senior figure at Munich Re says…
US passes law to drop ‘too big to fail’ designation for insurers
13 June 2017
The US House of Representatives has passed legislation that will remove the “systemically important” designation from insurers and banks…
XL Catlin adds to property capacity
13 June 2017
XL Catlin has extended its global property insurance capacity by 25% to $US500 million, to address rising insurable values and demand for higher coverage…
S&P cuts AIG outlook over goal delivery doubts
13 June 2017
S&P Global Ratings has revised its outlook for AIG to negative, citing the company’s “sub-par” track record on delivering strategic goals for its property and casualty commercial insurance division…
Brokers expected to focus on complex risks
05 June 2017
Brokers and agents will become more specialised and focus on high-net-worth customers with complex risks to remain relevant, according to Insurance Governance Leadership Network participants…
Global rates continue to decline
05 June 2017
Global insurance rates have fallen for the 16th straight quarter, driven down by significant capacity and a competitive underwriting environment, global broker Marsh says…