Matthew bill may top $11 billion, but Nicole spares Bermuda
17 October 2016
Insured losses from Hurricane Matthew are estimated at up to $US8.8 billion, with most of the bill borne by US insurers, according to AIR Worldwide…
International
Brokers hold ‘frank’ talks with SSP on system failure
17 October 2016
Managers from software company SSP have faced about two-dozen UK brokers hit by its recent system failure, after the British Insurance Brokers’ Association organised a meeting…
Global warming ‘widens forest fire zone’
17 October 2016
Climate change has doubled the area affected by forest fires in western US over the past 30 years, according to a new study – and scientists predict the danger will spread further…
Industry strengthens safeguards on data privacy
17 October 2016
About 61% of financial services businesses worldwide require employees to complete privacy training, as the sector increasingly realises the importance of protecting its digital assets, according to a PricewaterhouseCoopers survey…
FCA commits to staff diversity targets
17 October 2016
The UK’s Financial Conduct Authority has set diversity and inclusion targets for its senior leadership team, as it aims to better reflect the country’s population…
More businesses seek cyber protection
17 October 2016
The number of companies buying standalone cyber insurance has jumped 29% compared with last year, according to a Risk and Insurance Management Society survey…
Red Cross demands action on disaster mitigation
17 October 2016
The Red Cross has called for urgent investment in mitigation as it struggles to respond to more frequent and intense natural disasters and the biggest refugee crisis since World War II…
Megacity growth ‘poses insurance challenges’
17 October 2016
The rising number of global megacities will increase risks from natural catastrophes and other events, according to an Allianz Global Corporate & Specialty report…
China, India, Kenya top JLT Re’s emerging markets list
17 October 2016
Emerging economies are expected to grow at 2-3 times the pace of developed markets over the next five years, providing a huge opportunity for insurers, according to JLT Re…
Aon creates cyber giant with Stroz Friedberg deal
17 October 2016
Aon Risk Solutions will acquire US risk management business Stroz Friedberg, cementing its position as a global leader in cyber-risk brokerage and management…
Insurers ‘strong enough to cover Hurricane Matthew bill’
10 October 2016
US insurers can absorb costs arising from Hurricane Matthew, which is causing considerable flooding in the US coastal state of North Carolina as it heads back into the Atlantic…
Japanese giant Sompo spends $8 billion on Bermudan acquisition
10 October 2016
Sompo Holdings will pay $US6.3 billion in cash to buy Bermuda-based Endurance Specialty Holdings, which has huge operations in the US and UK…
Brexit talks ‘need insurer input’
10 October 2016
UK financial services businesses, including insurers, must give the Government as much support as possible so the country leaves the European Union with the best deal for its economy, according to KPMG…
Hermine storm damage ‘was wake-up call’ for Florida
10 October 2016
Damage from Hurricane Hermine last month provided a reminder of the risks faced by Florida after more than a decade without a similar storm crossing the US state’s coastline, according to Impact Forecasting…
UN insurance group settles on disaster resilience plan
10 October 2016
The United Nations-backed Insurance Development Forum has agreed a risk management strategy for regions vulnerable to climate and disaster hazards…
Cat losses and auto woes drive US insurers to underwriting loss
10 October 2016
US private property and casualty insurers reported a $US1.5 billion first-half underwriting loss, sliding into the red during the period for the first time since 2012…
Britons make more general insurance complaints
10 October 2016
UK general insurance complaints, excluding payment protection, increased in the first six months of the year compared with the second half of last year, the Financial Conduct Authority says…
FM Global bulks up cyber coverage
10 October 2016
Commercial property insurer FM Global has unveiled Cyber Optimal Recovery, an endorsement to its all-risk Global Advantage policy…
US personal rates up as business cover ‘stand-off’ continues
10 October 2016
US business insurance rate movement held steady at minus 1% last month, while personal lines insurance rates were up 2%, according to analyst MarketScout…
Brexit blues extend low-confidence streak
03 October 2016
UK financial companies, including insurers, feel less optimistic following the national vote to leave the EU, a quarterly PricewaterhouseCoopers survey has found…